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

Smarter Trading Podcast Episode 7

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

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Episode timestamps

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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Enjoy what you listened to? Share it below and be sure to tag @thetraderisk.

Evan Medeiros

Evan is the founder of the Trade Risk. With 20+ years of coding experience and a B.S. in computer science, Evan brings a systematic discipline to investing in the stock market.

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