You may have heard, we launched a new podcast hosted by our own Michael Buchbinder, a Partner here at Scandinavian Capital Markets. The first episode aired live on the 4th of February on TradingView, via the platforms recently launched Streams feature.
Trading WTF, which stands for where to focus, is a mini-panel talk show style pod-cast hosted by Michael Buchbinder with two guests, streaming on TradingView. The series aims to guide and inspire traders on where to focus their attention in their trading career. Topics vary each episode according to the guests joining Michael.
In case you missed it, the recording has been uploaded to YouTube where you can watch any time by following this link.
In this episode, Steve Ward, Jamie Saettele and host Michael Buchbinder dig into the overlaps and differences between gambling, betting and trading. Later, they consider the psychological pressures first time traders and members of the r/WallStrettBets community are facing following the $GME saga.
Our favourite quotes from the episode are:
Steve Ward shared his view on how to interpret emotions when trading.
You can’t get rid of then, emotions are part of the human experience, and we have them because they serve a purpose, they provide information. The way I frame it is emotion is data. If you’re feeling confident, why is that? If you’re feeling fear, what is the fear? Be Specific, is it a fear of loss, is it a fear of missing out and what might be the message behind it?
Jamie Saettele reflects on the similarities between trading and playing poker professionally.
Gambling, trading or even investing, poker is a good example of being closer to trading. It’s a game of not necessarily probability, but uncertainty. Roulette or blackjack for that matter is probability, that would be more gambling to me. But when you get into poker, there are a lot more orders of magnitude. You know, there’s fifty-two cards, and there are all these plays. But look at the professionals, the guys who do this and make money consistently. There’s a lot more to it. It’s not just pure probability in the cards.
For more great insights from our guests, watch the recording on YouTube and stay tuned for our next topic coming soon.