Trading in the AI Age: Adapt or Get Left Behind
episode
Talking Trading | Australian Sharemarket Strategies, Education & Trading Psychology
29 min
2 speakers
3 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What does AI mean for everyday retail traders and why is it a game‑changer?
Louise Bedford here, the money chick and the host of the Talking Trading podcast. Artificial intelligence is changing trading faster than almost any other technology. Some traders are excited. Others are worried they're about to become obsolete. But here's the real question. Will AI be your greatest advantage or are you about to be left behind? Today on the show, I have invited Brian McEvoy, trading coach, to share his views. We're going to explore what AI really means for everyday traders, where human judgment still gives you an edge, and why discipline, adaptability, and clear thinking may become even more valuable in the future. You are going to love this interview. We're going to talk about where AI can genuinely improve your trading right now, the mistakes traders make when they over-rely on AI, and the one skill that could separate future trading winners from everyone else.
So let's dive in. Brian McEvoy, do you think that traders should be worried about AI or excited by it?
Actually, I honestly believe both. There's a great opportunity here, but if you do nothing, you're likely to get crushed. This is not something that you can ignore. You're either going to engage it and make it work for you and take advantage of the opportunities that it presents, or you're going to get left behind. And if you've been struggling at all, it's just going to get worse. You've been in the space quite a long time. I personally, I think it's awesome. The fact that we've been around long enough to see how the trading space itself has evolved. I mean, cause like when I started trading, the internet didn't even exist then. It's like you pick up the phone and call your broker to place an order.
And you know, it's like 50 and a hundred dollar commissions, you know, round turn, that kind of stuff. It was just crazy. Then the internet came along. It was like, holy cow. Now I can actually look at live charts. Wow. You know, instead of relying on a broker. And then, and then you could like have your own accounts where you can actually place the trades. Oh my God. And then we had bots, you know, the, the EAs and expert advisors. And it's like, so watching the whole space evolve has been awesome. And the cool thing about it with AI, with the environment, uh, one thing that personally I think is awesome about it and exciting is AI it's in many ways, it is like adding humans to the mix and in the trading world, in the markets,
The more the merrier. With the markets, the more people, the more players, participants in the markets, the more liquidity is there, the more opportunities to get your orders filled right where you want them, less slippage. The markets are people, essentially. And historically have always been. The markets are people. And that's where our opportunity lies as traders in the fact that if the markets were totally random, like some people like to, you know, they say, oh, the markets are random. It's just they're somewhat predictable. It's like, no. There is an underlying order to the markets because the markets are people. If the people weren't involved and there wasn't some underlying order to it, the charts would look like a scatterplot.
They'd just be dots all over the place. But because we have people and now algorithms and now AI, that actually helps gives our edge because our edge is when something happens in the markets, whether it's a news event or whatever, the markets respond to that new stimulus. And those response patterns can have predictability. And I refer to them as windows of predictability. And that's where our edge is as traders. Every strategy that's ever been around started because somebody saw something that was happening in the markets over and over and over again. They're like, hey, I keep seeing this. And I can build a strategy around that. And so I call them windows of predictability. When those little things will happen, we don't know.
But once we see them and we can recognize the beginning of it, now we know what to expect. with some probability. That's where our edge comes as traders.
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Chapters
3 chaptersSpeakers
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