Why Most Traders Never Make It: The Missing Link Between Method, Mind and Money
episode
Talking Trading | Australian Sharemarket Strategies, Education & Trading Psychology
30 min
1 speaker
5 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
Why do most traders keep making the same mistakes despite being intelligent?
Louise Beppitt here, the money chick and the host of the Talking Trading podcast. The market isn't your opponent. You are You see most traders spend years searching for the best indicator, the best system, the best market. But what if the real obstacle wasn't out there? It came from within. Today I'm joined by returning guest Robert Van Aden, the author of The Bad Ass Trader. He's been on the show before. He has now authored a new book called The Jack of All Trades. And I think you're going to love this book. I definitely have. He talks about how success in trading isn't based on just strategy alone, it's to do with these three things. method, mind, and money management. And stay with us until the end because you're going to discover why intelligent traders don't always come out on top.
The hidden reason why many traders never become consistent and what separates professional traders from everyone else. So let's get rolling. Robert, your previous interview on the badass trader is one of the most popular of talking trading's history. So I am so curious. You've now written Jack of all trades and I'm so excited about this. Since you've written this new book, why? What inspired you to continue on?
Louise, there are a couple of reasons. I think some things have changed, some things have stayed the same. And then there's also a personal reason. I think The things that have stayed the same is basically if you look at the the CFD brokers in the UK, in terms of retail brokers losing money, it hasn't changed. It's still sitting at about seventy percent. I think in these last three years there's changed quite a lot. We've seen late twenty twenty three Um AI becoming available to retail traders. And that has brought the good, the bad and the ugly, I guess, but it is something we have to deal with. And the other thing that has appeared in the last three years is these funded accounts or these challenge accounts.
Which is quite new, uh, which has provided a different dynamic to trading. And we need to be cognitive of that because we're seeing a lot of folks actually taking up these challenges. And unfortunately the failure rate is even higher than in normal trading at the moment. So it's not a silver bullet in terms of Success. Also in the last couple of months, we've seen all these prediction markets, poly markets popping up. I don't know where that fits into trading. It seems to be binary options at the best if if I go back to the good old days. And then lastly, I wrote this from a personal perspective. I was mentored by A gentleman and we'll call refer him to as Jack Shark. in about two thousand and five, and this is also a testament to what I learned from him.
And there were a couple of things I learned from him that I've never actually picked up in any books. So those are the three reasons, Louise.
Mm. I like that. And I have to say the forward is spectacular, Robert. Because both you and I know that I wrote the forward for your book. What an honor. You lovely man. Thank you for opening your heart and being really creative with the way that you've depicted everything in your book. It's so engaging. It's so much fun to read.
I appreciate that that you actually accepted uh to write the forward. I've been very fortunate by that uh in previous book the forward was also written by a very dear friend of mine. And then you're a very dear friend of mine as well writing this forward and I'm most appreciative and always your kind words and your support and Even guiding me in terms at one stage what the title of the book should be. It was like Badass Something or Bad As Journey. So uh It end ended up something different, but thank you very much.
You know, and that's the thing too, Robert, is you've been around the financial markets for such a long time and you've got so many contacts. 30 years in the financial markets for you, 36 years for me. You've seen the industry from every angle. You've been a trader, you've been a mentor, you've been an author, you've been a broker. And now that you're the CEO of Scope Prime in South Africa.
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Chapters
5 chapters
1
Why do most traders keep making the same mistakes despite being intelligent?
0:02–4:54
2
What is the missing link between method, mind, and money management in trading?
4:54–11:41
3
How does Robert’s new book “Jack of All Trades” explain the three critical pillars for success?
11:41–20:41
4
Why is a trader’s mindset considered the real edge over strategy alone?
20:41–29:23
5
How do fear and self‑sabotage undermine trading performance?
29:23–30:28
Speakers
1 identifiedMore from Talking Trading | Australian Sharemarket Strategies, Education & Trading Psychology
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