Traders Mastermind

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The new Market Wizards book — The Next Generation by Jack Schwager and George Coyle — is out, and before you dive in, there's one thing worth keeping in mind.

In this episode, Mark looks back at the series that inspired a generation of traders, from the 1989 original through to today, and shares why these books are gold for any developing trader… as long as you read them the right way.

Capital at risk. This content is for educational purposes only and is not investment advice or a recommendation to trade.

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If you're a developing trader, should you focus on day trading or swing trading?

It's the question everyone asks early on... and my thinking on it has shifted over the years.

In this one, I go through the definitions, the usual pros and cons, and then the bit most people skip: the psychological cost. Fast decisions, fast damage. Why beginners fall apart day trading and what that actually does to your account.

I get into the asymmetry problem too. Why it's so hard to find a true asymmetric trade intraday in normal conditions, and how holding for a few days changes the maths.

Then my honest take on what I'd do if I was starting again now. It's not clear-cut. But on balance I land somewhere.

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Would you get hired by a hedge fund?

The traits funds screen for before they let anyone near a book are the same ones that keep a retail account alive. No billions or trading desk required... it's behaviour, discipline and self-awareness.

We go through what they look for at hiring, what they demand once you're managing a book, and the honest question underneath it all: would you hire yourself?

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A rapid-fire episode. 10 questions traders have sent in over the past few weeks, answered as honestly as I can in under 10 minutes.

In this episode:

How much money do you actually need to start trading
How long until you're consistently profitable (and why the answer is longer than you want)
How to tell if your strategy is broken or just in a drawdown
Should you go full-time
Stopping revenge trading after a loss
Sizing positions properly
Whether prop firm challenges are worth it
Dealing with people who call trading gambling
RSI vs Stochastics (and why it probably doesn't matter)

Got a question for the next one? Reply to the daily email.

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Most traders are doing the same thing. Same charts, same lines, same indicators. And if everyone's doing the same thing... where's the edge?

In this episode, Mark digs into what actually separates the trader who's stuck spinning their wheels from the one putting up the numbers. It's not discipline. It's not risk management. Those are table stakes.

It's something else. Something the traders we admire all seem to have, even if they describe it differently.

This isn't a silver bullet episode. You won't walk away with a strategy. But you might walk away with the right question to start asking yourself.

What's the thing you see that others don't?