(See chapters below)
Sam North both trades for himself and mentors’ other traders for eToro, the world’s largest social trading and multi-asset brokerage company, where he is their trading school lead.
In this great chat with the AlphaMind Podcast, Sam went deep into what it takes to succeed as a new trader, shared his reflections on patterns common to those he sees who succeed, and opens up about mistakes he witnesses which cause so many to fail.
00:00 Podcast Intro
01:38 Podcast Commences
06:40 Performance background and success in trading
09:00 Sports comparisons and trading
15:40 Having a Mentor speeds the learning process up
16:02 One of the main reasons many fail is they don’t know what they are trading
17:45 Reasons many new traders fail at the beginning
19:00 Cowboy marketers and Lamborghinis
20:38 People approach trading the wrong way, it’s an incredibly skilled job
23:20 The 2 most important things in trading
25:49 The common themes amongst new traders who succeed
26:36 Amongst new traders, women on average succeed more than men
28:52 Learning, Ego and the ‘Disease of Me’
32:00 Avoiding losses when learning, to have time to learn
35:28 My best trade was when I came out a losing trade early
37:16 When people are pushed into trading for the sake of it, everything goes out the window
39:50 We’re all going to have bad days trading, stay in the fight
41:15 Writing down a plan, not trading on emotions and the correlation with success
44:40 Older people starting versus younger people
49:35 The work of eToro
54:06 The importance of having an alternative source of income when trading
55:50 Make trading boring
Sam North:
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Twitter: here
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