Brian Lund — The better you know yourself the better you’ll trade

Hello everybody, our guest today is Brian Lund, a fintech executive, investor, and writer with over 35 years of trading experience.

Brian is the publisher of The Lund Loop, a weekly newsletter in which he writes about the intersection between markets, trading, and life.

In this episode we talk about what it was like getting started in the 1980s trading, we then get into some of the psychological hurdles that make trading difficult, like wanting to buy stocks when they’re cheap, and not knowing yourself well enough. 

We then move on to discuss the question: When should a trader quit? That goes for when things are going well and when things aren’t working out. When should you walk away to reset or simply say “Hey I’ve made enough money today, let’s call it a day”?

Please enjoy this episode with my friend Brian Lund.

Key learning points

• Buying things cheaper is something we’re conditioned to do as humans but it doesn’t always translate well in financial markets
• Keep a go-to list of stocks and do your homework the night before on the levels and action areas you want to participate at
• As soon as the trade is done, close the screens, get away and reset your mind
• Consider having a point at which you will quit trading for the day/week/month

Learn more & connect with Brian

• Follow Brian here
• Visit Brian's website here

Learn more & connect with Evan & the Trade Risk

• Browse the Smarter Trading podcast catalog for this episode's show notes and check out past guests
• Watch this episode live on our YouTube channel
• Follow @evanmedeiros on Twitter
• Follow @TheTradeRisk on Twitter
• Join the Trade Risk's weekly newsletter

Show Notes

• 0:00 Introduction
• 1:40 Brian's thoughts on social media and sharing ideas
• 8:25 Brian’s first stock he ever purchased
• 12:30 Trading in the 1980s and 90s difference and similarities between now
• 17:30 Learning by doing versus reading books and blogs
• 21:30 Brian’s framework for trading stocks and futures
• 26:35 The emotional side of trading; how to survive
• 29:30 Know yourself; and why new traders should go to therapy
• 34:40 Pushing through uncomfortable situations
• 41:40 When should a trader quit trading
• 48:40 Successful trading is about freedom
• 51:40 Brian’s mentors and early trading

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Please keep in mind, all opinions expressed by guests are solely their own opinions and do not reflect the opinion of Evan or the Trade Risk. This podcast is for informational purposes only. Please review our complete disclaimer which applies to the contents of this podcast.

Thanks for listening!