Interview with TRADEPRO Oil Desk Manager and Coach Stephen Box
In today's episode, we've got a special treat for you in the form of an interview with our very own oil desk manager, trader, and coach Stephen Box! Stephen joined TRADEPRO Academy back in 2017 as a veteran crude oil trader looking for a community of other professional futures traders to trade with. During one trading session shortly after joining, he volunteered to jump on the mic to share some of his analysis with the entire community of traders and the rest, as they say, is history! Stephen has since become the oil moderator in our trading room and for good reason! He's one of, if not, the best oil trader that we know! Stephen is an absolute gem and in today's chat, you'll get some great insight from his 30+ years of trading experience including how to bounce back mentally from a big trading loss, why pressurized trading is a recipe for disaster, the concepts of gambling in the markets, what it really is and the difference between gambling and trading. Here is a summary of what we discussed: Stephens introduction to trading by way of physical silver coins 03:55 First realizing that successful trading is not just pure luck 07:01 Overcoming the values learned from parents that grew up through the Great Depression 13:10 Lessons learned from being long into 3 consecutive limit down days 20:55 Why you shouldn't put yourself in a position where you lose control 28:25 The psychology of specializing in trading a single market 36:40 Constantly adapting the trading process over the decades 42:00 The most dangerous thing that new traders don't know 46:56 The differences between degenerate gambling and skilled gambling 51:25 Building the discipline of self-awareness and walking away when emotions start to creep in 59:10 Pressurized trading; why money always follows the trading process and not the other way around 65:15 The psychology behind taking a loss on your first trade of the day 70:00 Why not every single trade idea in the session should be an actual trade 75:15 The most common myth in trading is that it's easy money 82:00 Resources Enjoying this podcast? We'd appreciate if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast