Consistency Beats Intelligence Every Time · Robb Reinhold

EP 287 | Consistency Beats Intelligence Every Time | Robb Reinhold

We're joined today by Robb Reinhold, the Head Trader at Maverick Trading. Robb shares insights from a captivating trading experiment that's sure to intrigue both novice and experienced traders alike. The Flat Earth Trading Society experiment was a year long experiment testing the power of consistent position management and following a systematic trading process. Using random stock selections, Robb and his team implemented a rigid position management strategy to prove that disciplined exits and managing losses are more crucial than well thought out entries. Tune in as Robb walks us through the strategy, execution, and key takeaways from this unique trading experiment.

Disclaimer:
Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice.

Time Stamps
Please note: Exact times will vary depending on current ads.

00:00 Introduction and background
00:27 Dunning Krueger Effect
07:14 The Flat Earth trading society experiment
08:14 The misconception of entry importance
09:12 Experiment rules and methodology
13:12 Duration and process of the experiment
13:42 How he randomly picked stocks to buy
16:37 Dynamic position sizing strategies
22:50 Winning and losing streaks
28:04 Psychological aspects of trading
29:49 Position sizing based on quality setups
36:08 We are not the same person after the trade
41:54 The importance of following a system
43:53 The role of personality in trading
45:02 Entry strategies to implement
52:11 What Robb liked best about this experiment
55:58 How a trading personality test can help ones trading

Links & Resources:
Flat Earth Trading Society Experiment:
More detailed information on the trading experiment: https://mavericktrading.com/position-...

Studies Mentioned:
MRI and blackjack Study: https://link.springer.com/article/10....
Dunning Krueger effect: https://thedecisionlab.com/biases/dun...

Books:
Book mentioned: The Hour Between Wolf and Dog - Dan Coates: https://www.amazon.com/Hour-Between-D...
Behavioral Investing - Daniel Crosby: https://www.amazon.com/Behavioral-Inv...
https://www.amazon.com/Behavioral-Inv...

Trading Personality Test Website: www.traderpersonalitytests.com

Maverick Trading links:
Website: https://mavericktrading.com/ (stock/option prop trading division) and https://maverickcurrencies.com/ (forex/futures/crypto prop trading division)

Chat With Traders:
For more episodes, visit our website: https://chatwithtraders.com/
Follow us on X (formerly Twitter): https://x.com/chatwithtraders

#stockmarket #tradingdiscipline #tradingsuccess