Podcasts about traders

Roy, Calvin and Warnie went live as the round two teams dropped. Catch their instant reaction to all the news ahead of the first game of the round with plenty of tips for your team including the top trades, best captains and more. Join in live every week from 6:15pm AEST at AFL.com.au or the AFL Live app. Ask your questions via social media as the best ones are read out on the show. Head to fantasy.afl.com.au to pick your AFL Fantasy Classic team and you can set up your AFL Fantasy Draft league today at fantasydraft.afl.com.au. Episode guide 0:00 - Popular moves 5:00 - Team announcements 10:00 - Calvin's Captains 15:00 - Roy's top trade targets 20:00 - Your questions - - - - Find more from Roy, Calvin and Warnie. Head to afl.com.au/fantasy for more content from The Traders. Like AFL Fantasy on Facebook. Follow @AFLFantasy on Instagram. Follow @AFLFantasy on X.See omnystudio.com/listener for privacy information.

Amid the ongoing Strait of Hormuz crisis, President Trump has voiced frustration with NATO allies for declining to provide naval or other support, repeatedly calling their position disappointing and suggesting it could damage the alliance long-term. He reiterated that the U.S. does not require their assistance in confronting Iran but questioned whether NATO would ever truly be there for America in a crisis. Such statements have kept the topic of a potential U.S. pullout alive in political discourse. With tensions rising, even low-probability bets on Polymarket reflect the uncertainty. This comes alongside the high-profile resignation of Joe Kent from his role leading the National Counterterrorism Center, where he protested the administration's decision to engage in the Iran war. WE ALSO COVER: Is Benjamin Netanyahu alive? Kalshi $1 billion perfect bracket. Supreme Leader Kim Jong-Un wins election AGAIN! James Talarico is vegan now? Radical Islam or MAGA: Who do you support? 00:00 Pat Gray UNLEASHED! 00:13 U.S. Loses World Baseball Classic 02:36 Ali Larijani Killed 02:54 BREAKING NEWS: Esmaeil Khatib Killed 04:10 USS Gerald R. Ford Fire 05:48 Is Benjamin Netanyahu ALIVE?! 07:28 U.S. Laser Weapons 08:45 Germany & Great Britain 10:29 Oil Prices 13:27 BREAKING NEWS: Disappointed Gayatollah 14:21 Where is the Gayatollah? 17:06 Armed Man at Klein Elementary School 22:47 John Thune Playing Dumb 24:55 John Cornyn on the SAVE Act 27:18 Trump on Joe Kent Resignation 29:13 Joe Kent Tweet from 2020 35:06 Chewing the Fat 52:16 Trump on NATO Membership 54:24 Trump on Being in Iran 56:16 Mike Johnson on Joe Kent Resignation 58:56 IDF Intercepts Iranian Missile 59:39 Mike Huckabee & Benjamin Netanyahu 1:04:24 Kim Jong Un Wins North Korea Election 1:12:10 Evidence of Chinese Influence Back in 2020 1:17:24 Radical Islam VS. MAGA 1:24:26 TSA Troubles 1:25:43 James Talarico is Vegan??? 1:28:54 'God is Non-Binary' Hymn Learn more about your ad choices. Visit megaphone.fm/adchoices

JOIN MY TRADING GROUP FOR FREE: https://discord.gg/UFyNbN46

Patrick O'Hare of Briefing.com on the current markets, Traders awaited the Federal Reserve's rate policy decision, Next Rob Black event is Pints and Portfolios in Sunnyvale on Saturday April 18th 11:30am to 1:30pm sign up for exact location

Advertising SponsorThis episode is brought to you by The Honduran Coffee Alliance, connecting Honduran coffee producers with global buyers in a fair, sustainable, and commercially viable way.WhatsApp: https://wa.me/50487350786Email: sean@hondurancoffeealliance.comEpisode DescriptionThis is Part 3 of a five-part series: War, Trade, and Coffee — What the Middle East Conflict Means for the Global Coffee Industry.In this episode, Lee Safar explores how geopolitical conflict exposes the uneven distribution of risk across the coffee supply chain.The coffee industry often speaks about producer vulnerability, but crises like this reveal how risk moves through every layer of the supply chain, from farmers and exporters to traders and roasters.Lee explains how producers may face indirect impacts through rising fertilizer costs, fuel price volatility, and export delays that strain already fragile farm economics.Exporters often carry the largest financial exposure during logistics disruptions. With coffee already purchased and contracts to fulfill, delays in containers, shipping schedules, and currency markets can create significant financial pressure, particularly for smaller exporters.Traders typically have more tools to hedge against volatility, while farmers increasingly use supply and demand dynamics to manage risk by delaying sales when prices are unfavorable.Roasters and downstream buyers ultimately feel the cumulative effect of disruptions earlier in the supply chain, including rising freight costs, unpredictable arrivals, stock shortages, and pricing instability.The episode highlights the importance of understanding risk across your entire supply chain and strengthening relationships with partners who can navigate uncertainty together.In the next episode, Lee explores the economic domino effect of geopolitical conflict across the coffee industry.Connect with Lee Safar and Map It Forward here:https://www.linkedin.com/in/leesafar/https://mapitforward.coffeehttps://www.instagram.com/leesafarhttps://www.instagram.com/mapitforward.coffee ***************************************About Map It Forward The Daily Coffee Pro is produced by Map It Forward, supporting coffee professionals globally across the supply chain.Website: https://mapitforward.coffeeMailing list: https://mapitforward.coffee/mailinglistPatreon: https://www.patreon.com/mapitforwardInstagram: https://www.instagram.com/mapitforward.coffee/Contact: support@mapitforward.org

Patrick O'Hare of Briefing.com on the current markets, Traders awaited the Federal Reserve's rate policy decision, Next Rob Black event is Pints and Portfolios in Sunnyvale on Saturday April 18th 11:30am to 1:30pm sign up for exact locationSee omnystudio.com/listener for privacy information.

Advertising SponsorThis episode is brought to you by The Honduran Coffee Alliance, connecting Honduran coffee producers with global buyers in a fair, sustainable, and commercially viable way.WhatsApp: https://wa.me/50487350786Email: sean@hondurancoffeealliance.comEpisode DescriptionThis is Part 3 of a five-part series: War, Trade, and Coffee — What the Middle East Conflict Means for the Global Coffee Industry.In this episode, Lee Safar explores how geopolitical conflict exposes the uneven distribution of risk across the coffee supply chain.The coffee industry often speaks about producer vulnerability, but crises like this reveal how risk moves through every layer of the supply chain, from farmers and exporters to traders and roasters.Lee explains how producers may face indirect impacts through rising fertilizer costs, fuel price volatility, and export delays that strain already fragile farm economics.Exporters often carry the largest financial exposure during logistics disruptions. With coffee already purchased and contracts to fulfill, delays in containers, shipping schedules, and currency markets can create significant financial pressure, particularly for smaller exporters.Traders typically have more tools to hedge against volatility, while farmers increasingly use supply and demand dynamics to manage risk by delaying sales when prices are unfavorable.Roasters and downstream buyers ultimately feel the cumulative effect of disruptions earlier in the supply chain, including rising freight costs, unpredictable arrivals, stock shortages, and pricing instability.The episode highlights the importance of understanding risk across your entire supply chain and strengthening relationships with partners who can navigate uncertainty together.In the next episode, Lee explores the economic domino effect of geopolitical conflict across the coffee industry.Connect with Lee Safar and Map It Forward here:https://www.linkedin.com/in/leesafar/https://mapitforward.coffeehttps://www.instagram.com/leesafarhttps://www.instagram.com/mapitforward.coffee ***************************************About Map It Forward The Daily Coffee Pro is produced by Map It Forward, supporting coffee professionals globally across the supply chain.Website: https://mapitforward.coffeeMailing list: https://mapitforward.coffee/mailinglistPatreon: https://www.patreon.com/mapitforwardInstagram: https://www.instagram.com/mapitforward.coffee/Contact: support@mapitforward.org

Tune in live every weekday Monday through Friday from 9:00 AM Eastern to 10:15 AM.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Buy our NFT⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Join our Discord⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Check out our Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Check out our YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠DISCLAIMER: The views shared on this show are the hosts' opinions only and should not be taken as financial advice. This content is for entertainment and informational purposes.

Kevin Horner's Technical Tuesday charts cover the S&P 500 (SPX), CrowdStrike (CRWD) and Coinbase (COIN). The SPX bounce over the last few days is a “little dubious,” he says, noting that it is still below the 20-day moving average, which could act as resistance. Traders should prepare for more choppiness and volatility, he adds. CrowdStrike is at a “make or break level” after popping off lows into potential resistance. Coinbase has been on a rough ride, but Kevin sees a shift happening, highlighting multiple price levels to watch for potential opportunity.======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

Round one is in the can and The Traders are picking up the pieces from locking in their teams. Roy is off to a cracking start while Warnie and Calvin have a bit of work to do. They chat through what to do with Errol Gulden, the priorities for round two trades and more as the fun and frustration is well and truly back! Head to fantasy.afl.com.au or fire up the app to make your moves. Episode guide 2:00 - The Traders' round one scores. 9:30 - Rookie roulette 11:00 - Cash Cow of the Year votes. 13:30 - News featuring Errol Gulden's injury. 18:15 - Brisbane, Carlton, Collingwood, Geelong have the bye. 20:30 - Cash cows are a priority in fix up trades. 29:00 - Midfield premium options. 35:20 - Concerns in Fantasy teams on the chopping block. 43:00 - The Traders' early moves. 44:20 - Questions from social media - follow @AFLFantasy on X, @aflfantasy on Instagram and like the Official AFL Fantasy facebook page. - - - - Find more from Roy, Calvin and Warnie. Head to afl.com.au/fantasy for more content from The Traders. Like AFL Fantasy on Facebook. Follow @AFLFantasy on Instagram. Follow @AFLFantasy on X.See omnystudio.com/listener for privacy information.

Follow Us for More:https://lnk.bio/TheEquityChannelIn this episode, we break down a whirlwind weekend and what it could mean for the stock market as we head into a pivotal week. We'll look at technical indicators, institutional trends, and the fundamental forces that could drive prices in either direction.Key Point 1: Institutional traders are repositioning their portfolios for a potential shift in market momentum.The latest Commitments of Traders report shows a noticeable shift in how large investment funds are managing their risk. While they've reduced their short positions in the S&P 500, they've simultaneously increased their exposure to the Nasdaq 100. If institutional capital continues to flow into technology and growth stocks, then we may see continued outperformance in those sectors despite broader economic headwinds. This shift suggests that money managers are looking for areas of strength even as global factors like crude oil prices and government policy create a more uncertain environment. By following the flow of institutional money, individual investors can better align their portfolios with the market's underlying trend.Key Point 2: Technical indicators suggest the market is currently oversold, creating a potential bounce opportunity.From a technical perspective, both the S&P 500 and the Nasdaq 100 are trading at levels that historically lead to a short-term recovery. For instance, the RSI on the S&P 500 is hovering near 30, which is a common signal that selling pressure may be exhausted. If the market opens lower and then quickly recovers, then we can look for a potential move higher based on these oversold conditions. However, it's also important to watch for bullish divergence in the Nasdaq, which could provide additional confirmation of a bottom. By paying close attention to these technical levels, investors can identify potential entry points with a better margin of safety.Key Point 3: A failure to recover from initial weakness could lead to a steeper decline toward long-term moving averages.While there is a technical case for a bounce, the market's reaction to downside pressure will be the ultimate tell. If we don't see a quick recovery from any early-week weakness, it could signal that large buyers are stepping back and letting the indices find their own floor. If the market fails to hold its current support levels, then we could see a more significant drop toward the 50-week moving average for both major indices. This scenario would represent a more cautious environment where preserving capital becomes the priority. Monitoring how the market handles these key levels will be essential for determining whether the current trend is a temporary pullback or the start of a larger correction.

Traders are “throwing the baby out with the bathwater” during this market turbulence as inflation fears “feed on themselves,” says Robert Conzo. He tells them to remember the historical likelihood that less-loved S&P 500 companies will outperform. He feels “relatively good” about the market, citing bright spots like the retail sales report and a relatively unchanged PCE. Robert encourages investors to rebalance their portfolios right now.======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

Are you looking to save time, make money, and start winning with less risk? Then head to https://www.ovtlyr.com.Oil prices are moving like crazy lately. One minute they're surging, the next they're dropping hard. For traders, that kind of volatility can either create huge opportunity or wipe out a portfolio fast. In this video, the focus is on a simple but powerful trading principle that many people overlook: the key to bigger long term returns is minimizing risk first.Instead of chasing massive gains, smart traders adjust their position sizing based on market volatility. When volatility expands, risk expands too. That means position size needs to shrink. Using tools like ATR (Average True Range), traders can measure volatility and calculate how much capital to put into each trade without exposing their portfolio to unnecessary damage.It might sound counterintuitive at first, but the math proves it. A 50% loss does not require a 50% gain to recover. It requires a 100% gain just to get back to break even. That's why controlling downside risk is one of the most powerful advantages a trader can have.In this discussion, several practical trading insights are explained in plain language so traders can actually apply them in real markets.Here are a few key takeaways:✅ Why rising volatility means traders should reduce position size✅ How ATR helps measure market risk before entering a trade✅ The math behind losses and why they are harder to recover from✅ A simple position sizing formula traders can use immediately✅ Why disciplined risk management improves long term expectancyThe video also touches on real examples, including how volatility changes trading decisions, why some traders hold cash while waiting for proper setups, and how tools inside OVTLYR help track signals, trades, and performance data.At the end of the day, successful trading is not about predicting every move. It is about building a strategy that protects capital while allowing winners to grow. Risk management is the foundation that makes everything else possible.If trading consistency and smarter decision making matter, this breakdown will change the way position sizing and volatility are viewed.Subscribe to OVTLYR for disciplined trading strategies that actually make sense.

Sponsored by Pepperstone Trading stress doesn't always end when the market closes. In this episode we explore an interesting concept used by the military called “closing the loop.” After missions, soldiers perform simple rituals like cleaning gear and debriefing. These routines aren't just operational. They signal to the brain that the mission is finished. Without that signal, stress hormones can stay elevated and the mind keeps replaying events. Traders experience something very similar. Day traders often get natural closure when they finish the day flat. But swing traders and position traders can struggle because their trades remain open. In this episode we discuss: • Why the brain hates open loops • Why traders keep thinking about positions after hours • The biological reason routines reduce stress • How to create a simple post-market ritual to help your brain switch off If you want clearer thinking, better recovery and improved performance, learning how to close the loop may be one of the simplest changes you can make.

Roy, Calvin and Warnie went live as the round one teams dropped. Catch their instant reaction to all the news ahead of the first game of the round with plenty of tips for your team including the best selections, captains and more. Join in live every week from 6:15pm AEST at AFL.com.au or the AFL Live app. Ask your questions via social media as the best ones are read out on the show. Head to fantasy.afl.com.au to pick your AFL Fantasy Classic team and you can set up your AFL Fantasy Draft league today at fantasydraft.afl.com.au. Episode guide 0:00 - Must-have picks and rookie news 5:00 - Team announcements 15:00 - Calvin's Captains 20:00 - Your questions - - - - Find more from Roy, Calvin and Warnie. Head to afl.com.au/fantasy for more content from The Traders. Like AFL Fantasy on Facebook. Follow @AFLFantasy on Instagram. Follow @AFLFantasy on X.See omnystudio.com/listener for privacy information.

Liz Ann Sonders says the IEA's oil reserves release will take “a couple hundred days” to actually move to the places it's needed. She thinks the only thing that will settle the oil market is reopening shipping lanes. Liz Ann discusses how short-term traders are causing market volatility and argues rapid-fire rotation will continue. Long-term investors should reinforce their discipline, she adds. She covers her outlook for Oracle (ORCL) and the broader AI sector, and whether the Fed will move to cut rates this year.======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/

Nasdaq Pushing To Grant Shareholder Rights To Tokenized Stock Traders #Crypto #Cryptocurrency #podcast #BasicCryptonomics #Bitcoin #Gold #Silver #Platinum #Palladium Website: ⁠⁠⁠⁠https://CryptoTalk.FM Facebook: ⁠⁠⁠⁠@ThisIsCTR⁠⁠⁠⁠ Discord:⁠⁠⁠⁠ @CryptoTalkRadio⁠⁠⁠⁠ Chapters (00:00:01) - Crypto Talk Radio(00:01:41) - Bitcoin, Ethereum: Slightly Better Than Last Week(00:04:31) - NASDAQ: Tokenized Stock(00:13:11) - Nasdaq: Let Crypto Investors Choose Their Own Rules(00:16:15) - Bitcoin and Crypto: Do You Need to Buy or Sell?

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

Most traders fail for one simple reason — they never stick with a strategy long enough for it to work.In this episode of The Trading Coach Podcast, we break down the system hopping trap and the dangerous belief that somewhere out there is a “magic strategy” that never loses.You'll learn why constantly switching strategies destroys consistency, what successful traders do differently, and how committing to a process is the real key to long-term profitability.If you're stuck bouncing from strategy to strategy, this episode might be the wake-up call you need.DON'T MISS Our Upcoming 3-Day Online Trading Workshophttps://training.tieronetrading.com/income-trader-3-day-workshop63847604Your Trading Coach - Akil

Here we are! It's lockout week. That means decisions we make in the lead up to each game of round one will stick ... until you have a chance to trade them out! Calvin, Roy and Warnie run over the Opening Round games and name up their locks, debate some selections and build their team to get started for 2026. Head to fantasy.afl.com.au or download the app to start picking your team today. Episode guide 0:00 - Tips for lockout week. 4:00 - Quick takeaways from Opening Round. 6:00 - Sydney v Carlton. 10:00 - Gold Coast v Geelong. 14:00 - GWS Giants v Hawthorn. 18:00 - Brisbane v Western Bulldogs. 24:45 - St Kilda v Collingwood. 39:45 - Must picks and structure for each position. 54:30 - Questions from social media - follow @AFLFantasy on X, @aflfantasy on Instagram and like the Official AFL Fantasy facebook page. - - - - Find more from Roy, Calvin and Warnie. Head to afl.com.au/fantasy for more content from The Traders. Like AFL Fantasy on Facebook. Follow @AFLFantasy on Instagram. Follow @AFLFantasy on X.See omnystudio.com/listener for privacy information.

Blockchain is everywhere in the headlines, but separating signal from noise can feel exhausting.In this episode of Talking Trading, Louise Bedford sits down with blockchain investment expert Mitch Mechigian to explain blockchain in plain English.Together, they unpack what the technology actually does, why it matters beyond Bitcoin, and how professional investors are approaching digital assets without speculation or hype.You'll hear how blockchain is influencing global finance, why venture capital and family offices are paying attention, and how equities investors can think about blockchain exposure in a structured, risk-aware way.Mitch also explains common misconceptions, the role of regulation and geopolitics, and the practical questions investors should ask before engaging with digital assets at all.If you've ever wondered whether blockchain belongs in a serious investment conversation, this episode gives you the framework to decide with confidence.----------------------------------------If your trading feels like running on a treadmill — sweating, pushing, but going nowhere — it's because you're missing the right system. Louise says: "I'm offering free 30-minute calls to rip the brakes off your trading. Spots are limited. Fill out the survey at survey.tradinggame.com.au." Louise Bedford is a best-selling author of six sharemarket books, host of the Talking Trading podcast, and founder of TradingGame.com.au, one of Australia's leading trading education communities. For over 30 years she has helped traders master trading the Australian sharemarket, technical analysis, and trading psychology so they can build long-term financial independence. www.tradinggame.com.au www.talkingtrading.com.au.FacebookYouTube TwitterLinkedIn

Business and finance news from the Asia-Pacific. Crude oil surged above $100 a barrel for the first time since 2022 due to escalating hostilities in the Middle East and worsening strains on oil shipping, sending stocks and Treasuries lower. Brent climbed 18% to around $109 a barrel, adding to last week's 28% surge. Traders are braced for further upheaval with the Iran conflict entering a second week, major producers curbing output and traffic through the crucial Strait of Hormuz effectively halted. For more on how this affects the markets, we spoke to Paul Dobson, Executive Editor for Asia Markets. Plus - what does the oil surge mean for the economies in the Asia Pacific? We heard from Qian Wang, Vanguard Group Chief APAC Economist. She spoke to Bloomberg TV hosts, Haidi Stroud-Watts and Avril Hong. See omnystudio.com/listener for privacy information.

Is leverage a scam… or are traders just using it wrong?In this episode of The Trading Coach Podcast, we break down the truth about leverage in trading. You'll learn why leverage gets blamed for blown accounts, how professional traders actually use it, and the real risk most traders never talk about.If you've ever wondered whether leverage is dangerous or just misunderstood, this episode will completely change the way you look at it.3-Day Online Trading Workshop Registrationhttps://training.tieronetrading.com/income-trader-3-day-workshop63847604Your Trading Coach Akil

The Psychology Hack Every Trader Needs  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass YouTube: Dr. David Bonanno Enroll to Max Discipline Click Here to Learn More About Max Discipline Click Here to Checkout the Book: The Consistently Calm Trader: Master the War Between Discipline 626: The Psychology Hack Every Trader Needs In this video: 00:17 – Talking about mindset in trading. 00:54 – Dr David Bonanno helps traders. 08:02 – Traders issues with over trading and thinking money! 13:24 – Don't reinvent the wheel. 16:30 – You don't need a 90% win rate. 21:40 – You have to love the concept of trading. 25:55 – Traditional forum sites don't work. 27:50 – Be real with your trading. 30:25 – Contacting Dr Dave. Andrew Mitchem Hi everybody. It’s Andrew here at The Forex Trading Coach. Welcome along to another video and podcast. I’m really pleased today to be joined by Dr. Dave Bonanno over in the US. Dave, welcome along. Nice to have you here. Dr. Dave Bonanno Thanks. Yeah. Great to be here. Talking about mindset in trading. Andrew Mitchem Really looking forward to this because quite often in trading we talk about strategy and rules, talking about indicators and charts and things like that. But today we want to bring it back to something that applies to everybody. No matter what type of trading you are, whether your fundamental trade, a technical trade or a mix. And it’s really important that you start to understand, your mindset within trading. And that’s why, Dr. Dave here today is here. And how he’s going to help you and all of us listening and watching with the mental aspect of trading. So, Dr. Dave, maybe you can start about introducing yourself, what you do and how you help traders at that. Dr David Bonanno helps traders. Dr. Dave Bonanno Okay, great. Yeah. So I started off, as a therapist who is really trying to help people with problems, especially PTSD. And most people don’t really know what PTSD is like. If you look it up, there’s no definition. It’s just a list of symptoms. So the way that I define it now is that it’s when you have adrenaline and it just is overactive. And the thing to know is that when you have adrenaline, it makes your logical brain go offline. So I maintain that adrenaline is every trader’s enemy, and it doesn’t mean that you’re in full fight or flight, or that you’re afraid or that you’re angry. It can affect us in a lot of ways that we’re not even really aware of. And so if you like, read other mindset books or listen to other people who talk about the psychology of trading, they talk about changing your thoughts. But what I’m really all about is how to, engage with your subconscious in a way so that it doesn’t contaminate what you’re doing on a moment by moment basis. Andrew Mitchem Interesting. So you’re taking a slightly different approach to it. So on a like just to get it on the beginning, but to give her some right at the beginning on, on a, on a like a practical basis, someone’s out, they’re trying to identify a trade setup or they’re in a trade maybe. What do you do that could help them with those scenarios? Right. So I had this trader named Tony, and he was really successful in his career, and he wanted to gear up for retirement. And he he was a very logical guy and he could understand intellectually probabilities and all that. But when money was on the line, especially when he was trying to scale or even when he was trying to, take payouts from the prop firms, he would find himself just not quite making the right decisions. So of course, he looked at his strategy and and his, you know, technical skills. But I think what he didn’t realize at the time was sometimes adrenaline would get in the way. And and so that could be like if he was putting pressure on himself to provide a financial security for him and his family, or if he couldn’t really accept losses all that well, and I’m not even talking about like, yeah, I’m not talking about like throwing a tantrum or anything, but like, his wife would notice that he wasn’t in a very good mood after he had a red day. And so, yeah, we we needed to look at what was going on for him subconsciously. And, you know, we all could try to think like, well, you know, I’m pretty much in control of my emotions or I didn’t really notice, you know, what was happening for me in the moment. But we’re talking about subconscious stuff. And by definition that’s what we’re not aware of. Andrew Mitchem Yeah. Dr. Dave Bonanno So yeah. Yeah. So, yeah, one of the things I do first is I help people to identify, what exactly is going on for them. And it doesn’t mean, you know, that we have to go back to the past and blame your parents for everything. Like I was taught to do as a therapist. But we use, eye movements, which is, like EMDR if if people don’t know what that is, it’s the most researched, intervention for PTSD that there ever was. And I’m sure you probably even know people who’ve done it. So anyway, that kind of allows us to interface with your emotional brain. So, like, we have two brain systems that are at play at the same time. It’s kind of like two TV shows that are superimposed on each other, and you can’t just ignore one of them and sometimes I yeah. So sometimes our head and our heart is in sync. But a lot of times it isn’t. At least as much as we’d like to think that it is. So yeah, if we can actually like kind of interface with that part of our brain, that’s the part that makes our logical brain go offline. So we still do need that emotional part. Like it’s sort of like, like, you know, when you’re dreaming, then you wake up and your logical brain think so that was crazy. But that’s really because the logical brain was out of the way. And it’s it’s coming on, you know, with your, emotions. So what I’m getting at is, that when you’re able to move your eyes, that’s what allows you to connect with your heart. It’s great for journaling because instead of trying to go back and guess at what you were doing subconsciously, it really kind of helps you to get there. And that’s what we did for Tony. Andrew Mitchem Interesting. And so his results work improved dramatically after some time. Dr. Dave Bonanno Oh, absolutely. Yeah. He’s he’s doing awesome now. He just, showed me a picture of a house he wants to buy in Florida, and, he, he needed to help his parents out. And he, he was putting a lot of pressure on himself that he wasn’t really quite aware of. And that’s going to add adrenaline and, you know, like. Yeah. So like if he if you look at advice from other trading coaches or mindset coaches, they’re like, okay, well you have to control your emotions and you have to use your willpower in order to kind of, push them aside and focus on what you need to. Yeah. And that that can work sometimes, but it doesn’t work all the time. And if you’re telling somebody who’s full of adrenaline that they need to calm down, that’s kind of like telling somebody who’s full of alcohol that they need to be sober. Like it just. Yeah, yeah, yeah. It’s yeah, yeah, I know I’ve tried. But, Yeah. So I think instead of trying to use your willpower and then blaming yourself when you, when it doesn’t really work, and then people start to go into a cycle. Right. Like they start to doubt themselves and they start to think, well, maybe I’m a weak person or whatever. And really, I think they’re just kind of setting themselves up for failure by expanding, their body and their mind to react in ways that it’s not set up for it. Because once again, like when you’re in fight or flight, you’re but your brain is designed to go offline, like, you know, if you’re if you’re in the forest and you see a bear or something, you’re not supposed to be going through all the, pros and cons of the opposite, like you need to be running away or fighting. It would. Yeah. That’s right. Yeah. So that’s just how we’re built. So. So when we’re training and there’s like, you know, people can follow their rules, fine. If there’s not too much pressure. But when you’re scaling up or when you’re trying to, make this one being trained, you know, that’s going to really help you out. Or if you’re trying to get like a good feeling, like if you’re if you’re a little bit maybe addicted to training, you’re doing it to feel good, then it’s going to backfire. And then the harder you try, the more you’re feeding energy into that negative cycle. Traders issues with over trading and thinking money! Andrew Mitchem Yeah, that’s really interesting. I get a lot of people over the years that come to me and they have this exact issue, and a lot of people, unfortunately, when they get into trading, they they have this mindset. And like I did exactly the same over 20 years ago, you get into it, it’s new, it’s exciting. You think you’re going to make lots of money. Then you start looking at charts and lines and dots and arrows and indicators and you think, wow, this is awesome. I’m good. Look at this. Crosses this. I’m going to buy here, make a fortune. And then you soon realize it doesn’t work. And you then or the other issue I noticed that a lot of people have is they overtrain so much, you know, they want to go down to the very short timeframe charts because they believe the more they trade, their more they’re going to make. And they’re and you used the word just now about being addicted, whether it was alcohol or addicted to things. And I find that so many people have that, that they’re trigger happy. You know, they go to click, click, click, click, click trace and and of course, inevitably it will end up, losing for them. And then their whole mindset starts, that whole self-doubt and, and all they get to that stage where they’ll go. I’ve had so many losing track. This one’s band win and they do something stupid on it all. They they see the best set up that they’ve had all day, and they don’t take it because they’re scared, because they’ve lost so many other traits. There’s all these mix of emotions going on and it results in not being a good trader. Dr. Dave Bonanno Yeah, that’s that’s great. That’s that’s totally what I come across as well. And you know, like when I made the transition to working with traders, it was great because it’s it’s there’s just so much psychology there. Yeah. And and yeah like I think sometimes you know people don’t really want to admit that because they don’t want to be thinking of themselves as like, you know, crazy or whatever. But if you’re like, for example, an athlete who wants to be in the very top of your game, of course you have to work on the physical, but you have to work on the mental as well. That’s right. And so, yeah, if you want to be a trader who’s in the top 5%, who makes money, there’s just no way around it. I mean, nobody’s so good technically that they’re going to be able to cover their emotional mistakes, right? I mean, it’s just like you can’t. So. Yeah. I think, you know, one thing that’s really interesting to me is how the research shows that happy people in general have a less accurate picture of the world than people who are depressed. And the reason I bring that up is because I think we all like to believe that we know what we’re doing and when when somebody is in a situation like you’re talking about, when they get trigger happy, their logical brain is compromised and it’s making it’s making rationales for why they should do it again. Right. Like, oh, well, this it’s it’s got to work out this time. Or like, you know, the gambler’s fallacy or you know, like, like maybe I this time I’m thinking about it correctly or not, or, you know, all the types of things that people tell themselves. And it’s, you know, I think one thing that really happens is when you feel bad about something and, you know, like, it can happen to all of us. Like you could make the perfect decision, but the market just doesn’t go your way. You’ll never know exactly why that was, but because we want to feel in charge, we take on that responsibility and think, well, I did something wrong. And then you can either show restraint and hold back or I think, like most of us, maybe even us men, we want to do something. We want to fix it. Right? So like, it feels so much more powerful to actually be active than to use restraint and just wait for your perfect setup. So I mean, I see this all the time, and yeah, it can be such a slippery slope that when you, if you get, angry or frustrated or anxious or afraid, you’re adding adrenaline to the whole equation, which is going to make you do worse, which is going to just increase your adrenaline as well. And this doesn’t have to happen in just the course of one session. Like I recently talked to a guy who lost $700,000 over the course of three months, and he he just wasn’t fully aware of what was going on for him subconsciously. Yeah. So it’s just that it’s a really hard thing to do. I mean, you know, you could go to therapy and talk about your subconscious all day, but you’re still doing that consciously and it doesn’t really work. But, what I do is I try to be really quick and effective and use these eye movements, and then we just clear things up right away. So like, that’s kind of what happened with Tony as well. So. So I would imagine, Andrew, that you must get frustrated. I would think sometimes when you’re giving people solid advice that they should follow, they know they should follow it, and then they come back to you and they’re like, I just I just didn’t I just couldn’t, right? Like, what do people even say? Don't reinvent the wheel. Andrew Mitchem Yeah, yeah. No, you’re absolutely right. It it is frustrating because people seem to always want to reinvent the wheel. And it’s like you don’t need to. That’s why you joined us. We have the way it works, I can promise you. Yeah. And it comes along from, I think social media right now is a is a big negative for everything that we have to almost put up with us as people who like to help or coaches. Because they’re out there seeing the flash, Lamborghinis and Ferraris and all the rest of it, and they think that’s how it has to be. I actually say to people, the the honest truth is good trading is boring. And I mean that in a really good and honest way, and that you need to be doing the same thing on a daily basis. And as we’re finding out from our chat, you know, to remove the emotions as much as possible, stick to the principle of what you’re saying. One thing that I am massive on from a practical trading point of view. Well, two things. One, we keep our risk very low and controlled on every single trade. I think that helps massively. You don’t get those huge fluctuations of emotions of those those big wins or those big losses. So I hope, right. It doesn’t matter what the market we’re trading, whether it’s a forex or non forex or it doesn’t matter the time frame or directional stop loss. Every trade has the same low and equal risk. So on the next. Dr. Dave Bonanno I’m sorry I don’t I won’t put words in your mouth. But do you find that people agree with you 100% on that intellectually? And then when they just they’re like, oh, but this, this one looks so good. And then they risk more than they should. Andrew Mitchem And no, they don’t agree. That’s the problem. To start with. They think a lot of people don’t that it becomes, well, some do and some don’t. The ones that don’t, go off and do their own, you know, risk or no risk or stupid risk. And then almost everyone will then come back and go, oh, I realized that what you told me, like, you know, three months ago or six months ago, I should have done. And that’s there almost need to find that that moment for themselves and figure it out for themselves, just like I told you. But I can’t say I told you so, because that doesn’t help right now. But, you know, you can feed all this information to people, and, and some people will still go off and break those rules and do their thing, but the good ones are. Geez, circle back and come back and go, like I, I went off and found some other course and some other strategy. I realized that was rubbish. I realized what I got from you a year ago is really good. And now I’m back doing it and I want to start again. That happens quite a bit. The other thing that I think that helps with the way that we trade is not only is our risk allowing control portray, but our reward is high on our trades. So our profitable trade so that we we kind of step, we have little losses, bigger step, little losses, bigger step. And we we, you know everybody shows this perfect equity. We don’t have that. We have a little low controlled losses. Big two, three four times the risk on a profitable trade. You don't need a 90% win rate. And the slight issue that some people have with that is that some people want to see that 90% win rate. Andrew Mitchem A lot of people often get caught up with the win rate. And I give them the classic example of a true example. Many years ago, someone had a like a they showed me like a 90% winning system that they had, but they were still losing money because they did not have the the money management. Correct. Right. You know, as a very basic example, let’s say they were let’s say making ten pips on a trade and they made nine trades profitable with ten pips each. So they made 90. But that one losing trade lost 100 pips. So you know, a very basic example. But they they were basically the guy asking a 90% win. Right. Aren’t I good. But I’m losing money. Dr. Dave Bonanno Right. Yeah. And I bet that was kind of attractive to them because you get that positive reinforcement. I mean, like if you’re. Yeah, if you’re winning nine times out of ten, it feels great. And then of. Andrew Mitchem Course you I’m not losing that one damn trader. I’ve lost money. So there’s all these different like, approaches that people have. And that’s I suppose, the exciting thing, from trading, isn’t it, that there’s no one approach that fits everybody. Dr. Dave Bonanno Right. And, you know, I mean, like to, to talk about, what you experience with your clients sometimes when they come back to you and they say, oh, I finally learned my lesson, you know, like, I mean, I have kids and try to tell what to do in the course. They don’t want to hear it. And then I have to just really. Yeah. Just want to make mistakes and hopefully they’ll they’ll make enough mistakes while they’re young and and the, the stakes are still low before they go out to the world. Yeah. Then do stupid shit. Andrew Mitchem That’s right. Yeah. And I suspect that you and me exactly the same. When we were kids. Dr. Dave Bonanno Yeah. Well, actually. Yeah. Geez. Yeah, yeah, I knew everything when I was kid. Yeah. Andrew Mitchem No, it’s interesting that the how, the how the cycle keeps pace going. What question I wanted to ask you, and this is something I’m personally starting to just change my opinion on, is that I always used to say to people, start on a demo account, make the mistakes on the demo account of the platform and the lot sizes, etc. then go to a smaller live account and go bigger when you’re profitable. I’m almost starting to say to people now, don’t spend so much time on demo. Sure, use the demo to understand how a new trading platform, the software works. But I’m finding now that people that go on to a small live account are feeling those emotions like more realistic that you can never get on a demo, how would you kind of approach that? Dr. Dave Bonanno Yeah, it’s not interesting. You could try as hard as you can to recreate a situation like that for yourself, and it’s just not the same. It’s it’s really like professional athletes, you know, they practice, but you you can only practice so much until the game is on the line. And, you know, I think one thing that really happens is that we get into a flow state. So when things are the way they’re supposed to be, it’s kind of like you’re really focused on the charts, you’re really focused on what you’re doing. And then it’s like, oh my God, it’s the session’s almost over. You need to be using your intuition. But if and if you’re overthinking too much, you know, that’s certainly not going to work. But if you’re if you’re also like distracted by your emotions or by, you know, thinking about, oh, what is this going to mean if like if, if, if you win this trade, you know, like I don’t know how much of a sports fan you are, but I can’t stand, sports interviews because they’ll be like, you know, what were you thinking at this point when it happened? And the guys like, I don’t know, I’ll just see the ball hit the ball. I mean, you know, like, that’s really all there is. Yeah. Andrew Mitchem Now that’s. Dr. Dave Bonanno So. Yeah. And. Yeah. And then you know what? I like how you said that trading should kind of be boring. And, you know there’s there’s intrinsic versus extrinsic motivation. So extrinsic motivation is you’re doing something for the reward. And of course you know that’s part of it. Intrinsic motivation is just because you like it. So like if it yeah like if, if you just like trading then that’s great. And if you’re if you’re caught up in the extrinsic, it’s actually not only going to add to your adrenaline, but it replaces the intrinsic motivation. So if I could just give you a quick, quick example, like they had children read over the summer, they tracked how much they did. Then the next summer they paid them to read. So of course you’d think they’d read so much more. But what happened was it became a job for them and that that just took all the fun out of it. So yeah, if you’re too focused on why and why you’re doing this other than just because I like it, I get into a flow state, then I think that’s just, you know, going to mess you up eventually. You have to love the concept of trading. Andrew Mitchem Yeah. That’s interesting because, yeah. No, that’s a great point. I say to people like because of the time zone that I live in here in New Zealand, that the, the forex market opens on a Monday morning for me. It’s your Sunday afternoon in the US and I say to people, I love Monday mornings, you know because most people will have that alarm going. I say It’s Monday. I’ve got this right. Yeah, I’d love it because, you know, up until cryptos came around, we could not trade at the weekends. You know, you just. The forex market shuts at New York 5 p.m. on a Friday and open on the Sunday at 5 p.m.. And, yes, I just say to people I love Mondays. I absolutely can’t wait for Monday morning to come and start trading it. And you’re exactly right. Because unfortunately, again, and it kind of comes back to that social media issue again, is that so many people who are not trading, they discover trading and they see it as their kind of like their ticket out of their life’s financial problems. And and I get that conversation on a phone or an email, you know, with people, non clients, you know, far too often. And, and I say to them look it’s not your, your golden ticket out of financial problems. It’s not going to replace your job like in a six months. Don’t think of it like that. You have to want to have that enjoyment of looking at the charts or reading the news, whichever type of trader you are, and actually doing it. And like challenging yourself, to do well and to figure out what’s happening in the world and all these different facts, you’ve got to actually really get excited by that. If you like that, then you will keep doing it and you’ll be disciplined, and then the money will follow. But don’t just jump straight into it. Expecting to become a multi-millionaire with the thousand dollar account, right? Dr. Dave Bonanno Yeah. I mean, because the fear, like I think people are as happy as their expectations are in relationships or in activities that they’re doing. And yeah, if you’re expecting too much, it’s going to take away so much of your energy and motivation and and to talk to what you had said, like if you just if you like training, then it’s going to that’s what’s going to center you. Right. Because you can’t be up and down with with your emotions and how you feel. And you really have to get into like just the the nuts and bolts of this is the setup and this is my thought process or, you know, the, my intuition and, that’s that’s something I had to learn as a therapist. Like I don’t or as a coach, really, I don’t coach so that I could make people money. I coach because when I get a new client, I’m curious, like, oh, right, what what set of it have problems or issues are coming in to my door and what can we do about it? I don’t wake up like, oh, I’m going to save this person. It’s just more like and then, you know, if the outcome doesn’t go my way, I don’t have to get too upset about it. I mean, of course I care, but yeah, if you’re if you’re a trader and you could ground yourself and remind yourself why you’re doing this and and then also, I think this is a really fine point that people sometimes don’t understand. If you’re trading to feel good, then that’s going to mess you up to like you need to trade because you like it on a deep level and you want to make money. You don’t do it because you know, your wife left you and your dog died, and I just want to get a hit of dopamine. Like, that’s not going to work out, right? Andrew Mitchem Yeah. Yeah. Exactly. Right. And another thing, I think it’d be really interesting to hear your thoughts on is one thing I pride ourselves on is not only do we just have one strategy, but we have a massive community and we’re all trading that one strategy. When I started out, it was in, I’m talking 20 plus years ago now. It was in the early days of a couple of trading forums, and you used to go on to these forums because, you know, trading is a lonely business, you know, otherwise, you know, no one understands what you’re doing. Even today and back then don’t forget, that was the dial up internet days. And and the. Yeah, right. Traditional forum sites don't work. Andrew Mitchem I quite often have to get a connection. Yeah. But, you know, I used to go on to a four on the forum sites and then you’d find a thread, someone created this strategy, and then every time someone would come in and go, I think it should add this indicator, and, and it just blew out into a complete argument and mess. And I realized that when I started the coaching, I didn’t want that situation happening because it frustrated me when I was learning. So one of the things I’m really proud of is our community that we have on our forum site and webinars that we hold everybody, no matter what stage of the like, the journey they’re on. They’re all out there trading the one system, but they’re all out there helping each other. And I find that having that back up, to follow someone, to watch someone to ask someone is such an underestimated part of a trade, a success. Dr. Dave Bonanno Yeah, that’s great. And you’re right, it is such a lonely job. I mean, you’re looking at screens and. Yeah. How is your how’s your spouse supposed to understand really what you’re going through? And of course, they’ll probably get sick of you talking about it too. But, Yeah. Isn’t that such a great feeling is to be able to help each other? And I trust that your people are good at sharing their losses. Right? Because I think, you know, whatever you focus on, you magnify. And if you want clicks, like if you’re an influencer, you want clicks, you’re going to be selling the dream. And it’s really like, I’m sorry to be crude, but it’s kind of like you can go on social media and you just see these people masturbating and and you think like, well, why can’t I do that? And they seem relatable. They’re real people. It’s not like they’re on TV and they’re celebrities. Like it’s real people. And then they only say, you can do what I did if you buy my stuff. But, I hope that in your community, in your forums, like, people are real with each other, right? Be real with your trading. Andrew Mitchem Absolutely. There’s everything on that. And we, you know, just before we started, I just posted two winning trades on the losing trades that happened overnight. And we post all of our trades profitable and not because you can still learn from those. We’re not out there looking like, look at me. All these beautiful profitable trades, all post trades that lose. And you know all we’re going back to is that same thing is that our losses were controlled. But the the setup that we took at the time looked very good. Otherwise we wouldn’t have taken it. And the market, something happened. It didn’t go in our favor. Okay. That’s a shame. We don’t like that. But it’s the way it is. But our loss is controlled and, you know. But then the profitable trades that we have made up for that loss plus more. And so I’m a firm believer and we show everything. And that’s the beauty of posting trades like on a daily basis for people right around the world to look at and follow. And also it teaches them the, the I suppose the discipline of these people who have done this for years and years still have losing trades. And that’s fine to have providing we, you know, you look back and and get you full. You shouldn’t have taken that because of A, B and C, and that’s a lesson. But you know, hopefully we don’t do that very often. But the market sometimes will do what the market wants to do. You can have an A grade setup and it doesn’t work. But and that’s part of the lesson the discipline, the journey. Dr. Dave Bonanno Right. And and it’s really hard I think for a lot of people to be comfortable with not knowing something. So yeah, if if the outcome isn’t what you wanted, it could have been one of a million things. And you can never really. Right. So I mean, of course you’re going to gauge, your outcomes and you’re going to journal and what went right and what went wrong. But it’s every single time you’re really just inferring the probability of what happened. And you don’t have that real solid ground to, to feel comfortable on. Right. Like you’re just always kind of guessing to some degree. And you have to be okay with that. And I think it is really, really helpful to have other people remind you of that because, yeah, we could tell ourselves all day, oh, I’m going to have losses. And you know, I’m not perfect person or whatever, but if you actually have somebody else remind you of that, like, dude, you’re you’re still damn good. You’re still like, you know, the shot good person. Then I think that’s yeah, crucial. It is you. So that’s really cool. Contacting Dr Dave. Andrew Mitchem Absolutely. So, Dr. Dave. How can someone find you? And what are they going to like? What situation scenario are they going to be in to say, I need this, guys, help? Dr. Dave Bonanno Yeah. Great. So I don’t want to sound like anybody has mindset problems, but I do want to underscore how there’s just a lot of things going on that once again, we’re not fully aware of. And it doesn’t mean that there’s anything wrong with you. Anything. So yeah, I’ve worked with a whole bunch of people and some of them had issues in their regular life, and some were really dead end. As a matter of fact, that’s one thing I like about working with traders as opposed to PTSD, because they say if they say, you know, you are who you associate with. I was like, oh my God, I’ve been associating with the most damaged people in society for decades. But so yeah, I love working with traders. You can you can look me up at WB ww dot max discipline.com or we’ll have links. I just published a book on Amazon called The Consistently Calm Trader. And people have been having really good feedback for you there. And, if you wouldn’t mind, I’d like to just give one more tip to your audience, which is the best way to handle losses is not to get upset or try harder, or even to try to ignore how you feel about it. If you can actually be sad. And I know nobody wants to feel sad, but if the market doesn’t go your way today and you can just actually literally feel that like sad about it for even like ten minutes, then you’re you’re not adding any type of adrenaline to the equation and you’re accepting reality as opposed to, well, it shouldn’t happen this way or I should have done this. That’s not reality. If you’re talking about what should have happened and then because you can accept reality, you can move on and, and really come to a, later with a clean slate. Does that make sense? Andrew Mitchem Yeah. It’s a really interesting approach. I like that very simple, but easy to do. Dr. Dave Bonanno Yeah. You got to be sad. Andrew Mitchem Yeah, well, that’s good because not people don’t tell you those type of things go right. Dr. Dave Bonanno Yeah, yeah. Andrew Mitchem Hey what I want to hear I yeah, it’s good. That’s a really good approach. I like it because you have to be able to like, you know, the whole phrase of get back on the horse tomorrow, you know, and and if you’re still angry because of yesterday’s losses or the market didn’t do what I thought it should do, and you’re still, like, venting over that? How on earth can you expect to approach the next trade or the next day with any clarity? Dr. Dave Bonanno Yeah. And you can’t just tell yourself, oh, well, I’ll forget it and I’ll be fine. No, it’s just that’s not the way to go. Like you have to address these things. And so, you know, I don’t know how it is in New Zealand, but here in the States, like, I can’t stand how everybody’s trying to live their best life all the time. And, you know, if you ask somebody how they doing and if they if they don’t say awesome, then you’re like, oh my God. Well what’s wrong? Like what’s wrong with you? You know, like, I mean, I of course, you know, I like about us here in the States that we, we strive we, we have really high expectations. But I think it can really backfire for a lot of people. And then, yeah, if you’re on social media and you’re seeing all these people with their lambos and their, you know, their houses and stuff, I mean, it’s just going to get you down. So, yeah, if you could be sad, you could accept where you are. What has happened, and then you can get right back on the horse and, go where you need to go. Andrew Mitchem Yeah. That’s awesome. Hey, thank you so much today, dogs. I love chatting to you. And I think there’s just been massively beneficial. As you mentioned, we’ll put links to your site on here as well. So anybody can click on that and find out more about what you do. And yeah, thank you for your time. It’s been thoroughly enjoyable and I think it’s been massively helpful for everybody. Thank you very much. Dr. Dave Bonanno I was so glad to hear that. Yeah, it was really fun for me too. And thank you. Andrew Mitchem Awesome. Thank you. Episode Title: #626: The Psychology Hack Every Trader Needs Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass YouTube: Dr. David Bonanno Enroll to Max Discipline Click Here to Learn More About Max Discipline Click Here to Checkout the Book: The Consistently Calm Trader: Master the War Between Discipline

This is the sixtieth episode in the Crypto Hipster's Curtain Calls Series, which includes 3–4-minute clips from Seasons 6-8. This compilation draws upon my conversations with:Da Hongfei, founder @ Neo (4/14/2024, Season 7)Myles Harrison, Chief Product Officer @ AMINA Bank (6/25/2024, Season 7)Barna Kiss, co-founder @ Malda (3/9/2025, Season 8)Sunil Srivatsa, founder and CEO @ Storm Labs (4/12/2024, Season 7)Josie Leung, COO and co-founder @ MilkyWay (3/4/2025, Season 8)

How does war impact the stock market and what are the potential risks and hazards that impact traders attempting to remain profitable in their swing trading? In this podcast episode, Ryan Mallory covers everything managing the volatility that comes with the headline risk, dealing with heightened levels of emotions, securing open profits, and market exposure to uncertainty in the stock market.Be sure to check out my Swing-Trading offering through SharePlanner that goes hand-in-hand with my podcast, offering all of the research, charts and technical analysis on the stock market and individual stocks, not to mention my personal watch-lists, reviews and regular updates on the most popular stocks, including the all-important big tech stocks. Check it out now at:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠https://www.shareplanner.com/premium-plans⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Austin sits down with Forex Ike to talk about prop firms, scalping, negative risk-to-reward trading, and why so many traders overcomplicate the path to profitability. Ike explains how he keeps trading simple with basic support and resistance, quick NQ scalps, and a mindset built around taking consistent payouts instead of chasing huge wins. The conversation covers part-time trading, evals vs. instant funded accounts, copy trading, social media's impact on trader expectations, and why too much information can actually make you worse. Ike has taken futures prop payouts from firms like Top One Futures, Topstep, and more!! Sponsor:

Scalping is one of the fastest trading styles in the market—but is it actually profitable, or just a way for brokers to collect more commissions?In this episode, Akil Stokes breaks down what scalping really is, the psychological and technical skills required to do it successfully, and why most traders struggle with it. Before you try scalping the markets, make sure you hear this.

This week on The Chad & Cheese Podcast, the gang proves once again that you can't separate HR from the real world—especially when the real world feels like it's on fire. What starts as travel talk quickly spirals into global tension, disrupted plans, and a larger conversation about leadership in moments of chaos. Let's just say when flights get rerouted and headlines get louder, it's hard not to wonder how instability at the top trickles down to the rest of us. The trio doesn't pretend to have foreign policy solutions—but they do have opinions. Lots of them. Of course, it wouldn't be Chad & Cheese without a few sharp left turns. A certain fast-food giant's awkward attempt at relatability gets the roast treatment, sparking a conversation about authenticity in the age of executive social media. That dovetails nicely into a broader debate about AI-generated marketing campaigns—especially when “people companies” experiment with removing actual people from the picture. Bold move? Lazy shortcut? Marketing genius? The gang weighs in. On the industry side, several heavy hitters are making moves. One longtime ATS player is rolling out a fresh brand and a shiny AI layer meant to unify its platform—raising questions about whether this is a true product evolution or a well-timed narrative shift. Another HR tech roll-up with a portfolio of recognizable recruiting brands has a new CEO at the helm, bringing big AI and SaaS credentials to what some see as a complex integration puzzle. Meanwhile, a job board giant finally makes a major technical leadership hire after years of operating without one—prompting debate about product vision, innovation debt, and what it really takes to modernize at scale. Add in contrasting approaches to AI-driven workforce strategy from major financial and retail employers, a glimmer of revenue optimism from a familiar job platform, a dad joke that absolutely no one asked for, and the usual sponsor shoutouts—and you've got classic Chad & Cheese: equal parts insight, irreverence, and “did they really just say that?” Chapters 00:00 - Introduction and Current Events 02:57 - Impact of War on Travel and Daily Life 05:59 - Fast Food and Cultural Reflections 08:48 - Advertising Trends and AI in Marketing 11:59 - Privacy Concerns and Societal Reflections 14:57 - Shoutouts and Personal Reflections 16:28 - Introduction to Traders and Travel Plans 18:32 - Industry Changes and iSIMS' New Brand Identity 28:41 - The Importance of Execution in Branding 32:05 - Leadership Changes at Employee and Future Prospects 36:58 - The Future of ATS and Customer Retention 39:41 - Challenges Facing Legacy ATS Providers 44:52 - Leadership Changes at Indeed 47:18 - AI's Impact on Employment 55:43 - ZipRecruiter's Recent Growth and Strategy

In this episode of The Disciplined Traders Podcast, host Brian Montes breaks down one of the most popular income-generating options strategies used by retail and professional traders alike — the credit spread. Whether you're new to options trading or looking to sharpen your edge, this episode gives you a tactical, no-fluff walkthrough of how credit spreads work, when to use them, and the real pros and cons you need to know before risking a single dollar. What You'll Learn in This EpisodeWhat a credit spread is and how it works mechanicallyThe difference between a bull put spread and a bear call spreadHow to calculate max profit, max loss, and breakeven on a credit spreadWhat market conditions are best suited for the credit spread strategyWhy time decay (theta) is your best friend as a credit spread sellerThe best underlying assets to trade credit spreads on (SPY, QQQ, IWM, and more)An honest look at the pros and cons of trading credit spreadsWhy the reward-to-risk ratio matters more than win rate aloneHow to avoid the most common mistakes new options traders make with spreadsSubscribe & ConnectSubscribe on Apple Podcasts, Spotify, and all other podcast platforms. Leave a Review — it helps more traders find the show. Follow on Social: On X -> @dtamethodWebsite: https://disciplinedtradersacademy.podia.com/

The wake of the U.S.-led bombing campaign of Iran - Operation Epic Fury - has rattled markets around the world and inspired some public equity investors to adjust their positions and to more critically assess space companies with a speculative return on investment. Laura Winter speaks with Lou Whiteman, a space investor and a Motley Fool stock analyst covering aerospace and defense. d96efi5C1HZHLj1w3HtQ

Send a textIn this special emergency episode of The Wall Street Skinny, we sat down with Andreas Laskaratos, CEO of AB Commodities Group, a global oil and gas shipping and trading firm with operations spanning Europe, Asia, and the Americas. Andreas is one of the few people in the world who operates across both the physical and financial sides of the commodities complex, and he's been a longtime friend of the show.With Iran blockading the Strait of Hormuz, shipping rates spiking 5x overnight, and 20% of global oil flow suddenly in question, there was no one we wanted to talk to more. Andreas walks us through the mechanics of what's actually happening when it comes to oil, natural gas, and the broader commodities complex.We cover everything from the basics (WTI vs. Brent, what actually comes out of a barrel of crude, why it costs Saudi Arabia $5 to extract oil and the U.S. $50) to the trades being put on right now, why China is likely hurting the most, and what the 45-day timeline to $150 oil actually looks like. Andreas also had his war insurance canceled in real time while we were recording, which pretty much tells you everything you need to know about where things stand.Whether you work in finance, energy, or you're just trying to understand why your gas prices look the way they do this is the best crash course you'll get in commodities in under an hour.For a 14 day FREE Trial of Macabacus, click HEREShop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

Marley Kayden previews Marvell (MRVL) earnings, which is one of the last major semiconductor companies to report this quarter. She looks at expectations for its margins, segment revenues, and other areas to look out for in the release. Marley notes that several recent AI acquisitions are expected to start benefitting the company in the next few years. Joe Tigay offers an example options trade.======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

“Good trading is boring.” But most traders lose money because they can't handle boredom. In this episode, Akil breaks down why slow markets trigger overtrading, how boredom fuels costly mistakes, and why mastering stillness is the key to consistent profits. If you struggle with forcing trades or chasing action, this one could change your trading career.REGISTER FOR OUR 3-DAY ONLINE TRADING WORKSHOPhttps://training.tieronetrading.com/income-trader-3-day-workshop63847604Your Trading Coach - Akil

Prediction markets are having a big moment. Platforms like Polymarket and Kalshi have brought them into the spotlight. But most prediction markets still follow a simple format: a binary outcome. Yes or no. Win or lose.In this episode, I sit down with Philip from Trendle.fi to explore a new approach. What if prediction markets were not just about outcomes? What if you could actually trade attention around topics, trends, and people?Philip explains how Trendle measures conversations across platforms like Reddit, YouTube, and X to create an attention index. Traders can then long or short that index depending on whether they think the topic will gain or lose traction.We also talk about how the 2024 U.S. elections boosted prediction markets, why peer-to-peer models may outperform traditional bookmakers, and why the next wave of innovation will come from new market mechanics rather than copying existing models.If you're interested in Web3 innovation, market design, or the future of prediction markets, this episode is for you.Key LearningsPrediction markets are entering the mainstreamPlatforms like Polymarket and Kalshi have introduced thousands of users to prediction markets, especially during major political events like the 2024 U.S. elections.Prediction markets have existed for decadesBetting on future outcomes is not new. From horse racing to sports betting, humans have always tried to predict the future and place bets on it.Peer-to-peer markets may outperform bookmakersTraditional bookmakers take on risk when setting odds. Peer-to-peer markets allow users to trade directly with each other, often resulting in better pricing and reduced risk for the platform.Trendle introduces a new concept: the attention indexInstead of predicting outcomes, Trendle measures how much attention a topic receives online and turns that attention into a tradable asset.Social media data powers the attention indexTrendle gathers data from Reddit, YouTube, and X to measure how often people discuss specific topics and updates the index frequently.Attention itself can become a marketUsers can long or short topics depending on whether they think the conversation around them will grow or fade.AI agents are already trading prediction marketsSome traders are building bots that detect price discrepancies across platforms and use arbitrage strategies.Trendle's strategy starts with crypto communitiesThe initial go-to-market strategy focuses on crypto traders and communities before expanding to broader cultural topics like celebrities and major trends.Education will be a major challengeBecause the attention index is a new concept, helping users understand how it works will be a key focus.Trendle is currently fundraising and exploring partnershipsThe team is looking to collaborate with communities, builders, and investors as they scale the platform.Connect with Trendlehttps://trendle.fi/https://x.com/trendlefi DisclaimerNothing mentioned in this podcast is investment advice and please do your own research.Finally, it would mean a lot if you can leave a review of this podcast on ApplePodcasts or Spotify and share this podcast with a friend.Be a guest on the podcast or contact us - https://www.web3pod.xyz/

Opening Round is here, or as we like to call it, Cheat Code Round! It means we get a look at some potential AFL Fantasy players who we are considering and know what score will be in there to affect the first price change. Calvin, Roy and Warnie chat through who is on the watchlist across the five matches and answer plenty of your questions! Head to fantasy.afl.com.au or download the app to start picking your team today. Episode guide 0:00 - Key info ahead of R1 5:30 - Sydney v Carlton Watchlist 8:20 - Gold Coast v Geelong Watchlist 12:55 - GWS v Hawthorn Watchlist 15:20 - Brisbane v Western Bulldogs Watchlist 19:45 - St Kilda v Collingwood Watchlist 22:00 - Questions from social media - follow @AFLFantasy on X, @aflfantasy on Instagram and like the Official AFL Fantasy facebook page. 37:05 - Last minute tips. - - - - Find more from Roy, Calvin and Warnie. Head to afl.com.au/fantasy for more content from The Traders. Like AFL Fantasy on Facebook. Follow @AFLFantasy on Instagram. Follow @AFLFantasy on X.See omnystudio.com/listener for privacy information.

Oil prices spiked again, Traders began to worry the U.S. Iran conflict could drag on longer than anticipated, More on the next seminar Beyond the Noise: Navigating Wealth in Uncertain Times with EP Wealth Advisors CFP Stephanie Richman and JD Nathan Rogers at the Don Tatzin Community Hall Lafayette Library March 11th from 6:30pm to 8:30pm

Oil prices spiked again, Traders began to worry the U.S. Iran conflict could drag on longer than anticipated, More on the next seminar Beyond the Noise: Navigating Wealth in Uncertain Times with EP Wealth Advisors CFP Stephanie Richman and JD Nathan Rogers at the Don Tatzin Community Hall Lafayette Library March 11th from 6:30pm to 8:30pmSee omnystudio.com/listener for privacy information.

Thousands of AFL Fantasy Draft leagues will host their Drafts this week. The Traders have some quick tips to get started, but focus mainly on how the draft will play out. From how the first couple of rounds will play off Head to fantasy.afl.com.au or download the app to get your Draft league sorted today. Episode guide 0:30 - Get prepared with a Mock Draft and the Draft Kit. 5:00 - The first round and drafting strategy. 8:30 - Where should you draft a ruck? 12:15 - Are midfielders an issue this year? 15:00 - Where do the top defenders go? 16:30 - Late round picks. 21:30 - More tips including pre-draft lists. - - - - Find more from Roy, Calvin and Warnie. Head to afl.com.au/fantasy for more content from The Traders. Like AFL Fantasy on Facebook. Follow @AFLFantasy on Instagram. Follow @AFLFantasy on X.See omnystudio.com/listener for privacy information.

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.

In this latest episode of the OIES podcast series, Bassam Fattouh (Director of the Oxford Institute for Energy Studies) discusses with Ilia Bouchouev (managing partner at Pentathlon Investments, Senior Research Fellow at OIES, and adjunct Professor at New York University) recent trends in options trading, algorithmic trading and hedge fund strategies that are shaping oil markets. Based on […] The post OIES Podcast – Algorithmic Oil Traders, Hedge Fund Strategies and Oil Markets appeared first on Oxford Institute for Energy Studies.

Flush season is here. Protein solids are up. Global milk production is up. So… Where's all the skim milk powder? In this episode of The Milk Check, host Ted Jacoby III and the Jacoby team sits down with Martijn Goedhart and Henk-Jan Bouwman of Cefetra Dairy for a European perspective on the volatility rippling through global dairy markets. We talk through how traders got caught short and why the spring flush might not loosen up the skim milk powder/nonfat dry milk market. Plus, are we pricing U.S. out of the export market? We'll get you up to speed on: Why skim solids are being pulled away from dryers and into protein streams How hand-to-mouth buying turned into a short squeeze What record-high butter stocks in Europe mean for upside potential Tune in to hear how Europe and the U.S. are navigating one of the most volatile stretches in recent memory. L If you're making sourcing or coverage decisions right now, don't miss The Milk Check episode 94: The Dryer's Getting Robbed. Got questions? We'd love to hear them. Submit below, and we might answer it on the show. Ask The Milk Check TMC-Intro-final Ted Jacoby III: [00:00:00] Coming up on The Milk Check. Martijn Goedhart: You have supply growing, and then you think, “Oh, we’re gonna build stocks.” But then, demand caught up. And quite viciously. Ted Jacoby III: Welcome to the Milk Check from T.C. Jacoby and Company, your complete guide to dairy markets, from the milking parlor to the supermarket shelf. I’m Ted Jacoby. Let’s dive in. This week we are excited to have two special guests, Martijnjn Goedhart and Henk-Jan Bouwman from Cefetra Dairy in the Netherlands. We’ve been working closely with these guys for some time and we thought it would be a great idea given all the craziness and dairy markets going on in the United States, to ask them to give us a little bit of perspective on what’s going on in Europe so we can get a feel for how the global markets are affecting our U.S. dairy markets. Martijn, Henk, thanks for joining us today. Martijn Goedhart: Thanks for having us, Ted. Henk-Jan Bouwman: Thank you, Ted. Ted Jacoby III: I feel like what’s going on in nonfat right now more has an origin in the U.S., but I also noticed that you guys started to feel that maybe this market was gonna be a little bit shorter than we expected over in Europe before we realized it in the U.S. [00:01:00] Tell us about the skim milk powder market in Europe and what’s been going on the last month. Martijn Goedhart: In Europe, we’ve been overwhelmed by milk production growth since the second half of 2025, due to bluetongue, late calving, second peak, as some of us call it. And that has resulted in good outputs, and that output needs to go to the commodities. So, we’ve seen butter stocks build up significantly, and everyone assumed that that would mean that the skimmed stocks were also building up because that’s basically the other product you’re gonna produce when you do butter, right? A few things we, I think, overlooked is like the general protein trend in the world and the demand for protein, both on the whey side as well as on the milk side nowadays. So a lot of protein has ended up in other products than your typical skimmed nonfat production bucket. Adding to that, Europe has been the most competitive source in the world market for a long time. Demand wasn’t great because buyers were buying hand-to-mouth because they would basically wait for that carry to come toward them and buy at the lowest price at the last moment. But [00:02:00] now we see that the exports out of Europe have been great. And that’s been keeping the market clean. I think some traders speculated on lower prices and got caught short, basically needed to cover. And that’s where we are at now. And I think more than ever, if you look at NZX (New Zealand Exchange), this all started with a firmer GDT (Global Dairy Trade), with China stocking up a bit. So, if you look at NZX, CME (Chicago Mercantile Exchange) and EEX (European Energy Exchange), those markets are starting to correlate better than they did before because everyone’s looking at the developments of the other exchanges and then draw their conclusions for their own home base. And yeah, that cocktail, together with some U.S. developments that we’re gonna dive into, has caused record-high volatility over the last few weeks. Ted Jacoby III: So, Martijn, you’re telling a story that sounds very familiar ‘ cause that’s exactly what we’ve seen here in the U.S. We’re not making anywhere near as much nonfat dry milk as we expected because the protein demand is forcing those skim solids into other places. What are those other places in Europe? Where is that protein being used and what is it being made into in Europe right now? Martijn Goedhart: I think there’s two main [00:03:00] streams. Bear in mind that the milk pressure in Europe was so high that you need to burn milk, and the way to do that is to produce casein. So, I think casein production has increased by like double-digit numbers, that’s not because it was such a nice valorization, you can just dry more milk per hour. And considering the liquid markets over the last few months, during our low season, liquid milk was trading way below the commodity equivalent, proving that there’s a surplus of liquid milk that can’t be processed by drying it or churning it. So, that’s one part. The other part is, it’s the same in the U.S. We’ve been around here for a few days now, but in Europe, you see the same: everything is protein fortified, extra protein, in basically everything you can buy. So, a lot of protein that is processed in line before it even reaches the other class. So, like the dryers basically. Ted Jacoby III: Martijn and Henk, do you guys think that the skim milk powder market in Europe has tightened up primarily because everybody who was living hand-to-mouth saw the market started going up, and they decided they wanted to buy more now because they wanted to get the product at a lower price before the price [00:04:00] went higher, and then they just started chasing the market? Or do you think demand has shifted and there’s a true increase in the demand for the product? Henk-Jan Bouwman: There’s two things to touch upon here, Ted. One is, you’re absolutely right: people were buying hand-to-mouth, and they were actually rewarded for doing that because everybody believed that the price of tomorrow was better than the price of today. And for a fairly long period of time, they got rewarded for that. That also led to traders being short, as Martijn touched upon. From a demand perspective, yes, there’s actually quite some demand, and people also realize that they have to turn to Europe to find their cheapest skim. That also creates a bit of a demand pull towards European skim, which makes the price go up. And we’ve seen that, in particular, in low heat in comparison to medium heat. But in general, export markets for us are pretty strong, and, I would say, pretty much all the demand ends in European skim milk powder of origins. Josh White: Is anybody extending days in inventory? Do we think that there’s a short squeeze driving international clients to buy a couple extra weeks, a month, more than that of product? The nature of your question, Ted, [00:05:00] is what’s caused us to tighten up on that product? Is it truly demand for nonfat dry milk, or is it just reduced production overall? And I think maybe it’s both in a way. On the one hand, Martijn mentioned that the catalyst of this was actually a GDT event where China stepped in and bought more. And I think that we’ve been talking about the disappearance of China as a structural buyer of milk powder for quite some time. But their stocks to use ratio has been reported to be fairly low, and maybe they felt it was time to extend some days of inventory. At the same time, you evidenced what’s happening in the U.S., And Martijn alluded to it a little bit in Europe as well, that the pull for dairy protein in general is actually vacuuming some solids away from the dryer, and particularly the SMP or the nonfat dryer. So, is it both? Are we seeing people look to build a little bit more safety stock at the same time that our production is down a bit because protein demand overall is robbing our supply. Henk-Jan Bouwman: There’s a, there’s a couple of things to touch upon, Josh. One is in this whole upward movement, there were quite some international buyers [00:06:00] who still had demand open, for instance, for Q2 and Q3, and decided to step in and said, “Hey, this is a moment to buy, to cover that demand, because I am anticipating an upward movement.” So, in that sense, I’m completely with you. Producers did the same, as well. For them it was also attractive to lock some forward sales. And that has led to lesser availability of skim in EU. And that basically also caused the rally to continue. Martijn Goedhart: I think the difference with the U.S., as I understand it, is we have never not been able to buy product during this whole volatility. So, producers were always offering, customers would like step in, step out. If they really need it, they would book. They were also cautious. And we went up, then we went down, then we went up again. But in that down movement, customers were like, “Yeah, you see, so it’ll come off again.” So, that didn’t prompt them to build any length. I think producers did fairly well in putting a fundament below their sales book for the flush that’s upcoming. Traders are holding a fair bit of cash product right now for the next three, four months. It’s not tight as [00:07:00] such, but you see that certain buyers need certain origins that are scarce. So, it’s very much about the origin, the spec, and the product that you have, whether you can monetize on those higher prices. Ted Jacoby III: It seems to me, just listening to you guys talk about Europe, that the U.S. and Europe are both experiencing a very similar phenomenon in our supply chain. Demand for protein is pulling skim solids away from the dryer, first and foremost, which means on a skim milk powder / nonfat dry milk supply-demand balance, you’re reducing the supply even though we are both experiencing pretty significant increases in milk production. The traditional math is: more milk means more skim milk powder. It didn’t happen this time around, and it caught people by surprise. The demand for protein in Europe, just like in the U.S., is exceptional right now. But then that makes me ask the question: if we have less skim solids, in the form of skim milk powder and nonfat, in the global supply chain, is this increase in price directly proportional [00:08:00] to reduced supply, so we got more people buying because they want to get in the front of it. So, you got this bubble. But you also have had this slow decrease in overall skim milk powder demand going on. Like a slow creep every year. I’m not sure if it’s about 1%, but we’ve all kind of felt it that the global demand for skim milk powder has been just slowly weakening, but this sudden supply crunch was a bigger issue than the slow decrease in demand, and it caused this price bubble that’s just gonna take some time to work itself out. And if the protein continues to take the skim solids away from the dryers, it may be a really long time before it works itself out. Martijn Goedhart: Q4 of global SMP export has been very strong, but Q3 and Q2 were relatively weak. I’d have to look at how the balance looks at the end of the year. Also, the export figures have been more volatile than Ted Jacoby III: Yeah. Martijn Goedhart: Before. So, I think everyone thought like, “Okay, demand is sluggish. We have so much milk in the U.S. We have so much milk in Europe. [00:09:00] New Zealand’s season is looking good.” So, in your mind, you extrapolate that demand. Then, you have supply growing, and then you think, “Oh, we’re gonna build stocks.” But then, demand caught up. And quite viciously. So, that’s the thing I think people underestimated. We’re in a situation where we don’t see any old stocks or inventories building up. Josh White: So I wanna throw three thoughts out. On the first hand, we know our global milk supply is year over year up significantly. Martijn Goedhart: Yeah. Josh White: On a solids basis, protein and fat are up significantly. We’re talking about the overflow valve, the powder stocks not being very robust, and that on the end-user level, globally, people didn’t have a lot of additional days of inventory. So, that would suggest on one hand, maybe we need all this milk. Maybe we need it. Demand for protein and other products is up enough that we need all this milk. But then on the other hand, I think there’s probably two things that we need to be careful that we don’t overreact to. There’s seasonality in our products. We know that the northern hemisphere heavy milk production season is upon us. We’ve [00:10:00] started in California. We’re gonna continue to see our daily milk volumes increase seasonally in the U.S. as we get into the second quarter. Another thing that I’m wondering being, you guys with more international trade experience coming out of Europe is: buying seasonality. So, Ramadan every year moves up a little bit; Chinese New Year, there’s usually a surge leading up to it. And it’s gotten to the point where that was almost a collision with the traditional holiday season of December. Is it possible that we just robbed demand from the first quarter, and everyone tried to get in front of some of that demand in the late third and early fourth quarter, and that we’re about to go into a unique seasonal period where customers have now gotten scared. They’ve extended a few days in inventory, the structural demand won’t be there at the same time that the northern hemisphere flush is upon us. I mean, is it possible that we were just short squeezed based on seasonal issues in the first quarter, and we’re gonna resolve that with plenty of product in the second quarter? One final note I think that we [00:11:00] shouldn’t forget is that our year over year comparables are against a disease-infested 2024. We had bird flu in the U.S.; we had bluetongue to in Europe. How much are we actually over 2023 going into 2024. Ted Jacoby III: On 2023 versus 2024, I think Europe, you guys were down like a half a percent to 1% in 24. Does that sound about right? Martijn Goedhart: 23, 24 was pretty much flat. Ted Jacoby III: Mm-hmm. Martijn Goedhart: And 24, 25 we added like a hundred thousand metric tons. So, like, 6%, 7%. 24, 25. Ted Jacoby III: So you guys had a couple of flat years, followed by a year where you added quite a bit. Martijn Goedhart: Yeah. Ted Jacoby III: Which actually is pretty similar to what happened in the U.S. Yes. We had some disease like avian flu , and bird flu hit California ,and we were down in some places and up in others, but overall we were flat. But the solids were up a little bit. Martijn Goedhart: Yeah. Yeah. Ted Jacoby III: While dairy prices were decent, I didn’t feel like we were facing a massive supply scarcity in those two flat years, which is one of the [00:12:00] things that has me very perplexed about what’s going on now. Because it’s one thing to say, Hey, there’s all this new demand for protein. All the skim solids are going to protein, and that’s why there isn’t any skim milk powder in nonfat. Okay, let me phrase this a different way. That means that we are suddenly being faced with massive increases in demand for protein. The price of protein today is a lot higher than it was a year and a half ago when we were dealing with flat supply.  So, why is protein demand so much higher now compared to a year ago? Is it completely and solely demand driven? As amateur economists , like all traders are, that math doesn’t seem right. Martijn Goedhart: Last year, we had significant competition among our export customers from Iran and Belarus, in terms of SMP. The Iran exports were surging. I think it was like 150,000 tons of skim, something like that, that suddenly shows up. Europe is doing about 700. So, that has an impact when you’re talking to [00:13:00] buyers. But that disappeared just as quickly as it appeared. Which yeah, that 150,000 tons, or whatever it was, it will turn back to the next cheapest origin, which was Europe. So, demand didn’t grow, but shifted towards another origin being EU. Henk-Jan Bouwman: Yeah, I think in general, overall competitiveness of EU skim milk powder is a lot better than last year, even in comparison to a bigger skim producing regions. As Martijnn touched upon, being based in the Middle East, I saw a lot of competition coming out of origins, which were a bit more nontraditional. Iran was one of them. What happened is their overall competitiveness finished really, really quickly due to a couple of things. One of them being disease. So, they had foot-and-mouth disease in Iran. Two, their overall ability to import a sufficient amount of feed, and three, their competitiveness due to a currency standpoint, which quickly changed. That, indeed, meant that the material that was supplied by Iran is now being supplied by Europe. Diego Carvallo: It’s a fascinating situation. Some of those [00:14:00] solids that are going into MPCs are definitely reducing the demand for skim, unless it’s coming from a different end-user application. If we’re seeing the MPCs going into sports nutrition, it’s definitely new demand that is finding a new end-user. It’s a combination of a lot of the things that we have discussed in this call: the whole market being short and getting super used to being hand-to-mouth for years, where you could buy product cheaper a month from now, so, why would you buy it? Especially if you have high interest rates, right? So, that’s part of it. The other factor is definitely the whole market was shocked by the impact of the UF pull of the additional MPC production and the amount of solids that we’re not going into a dryer that everybody expected would go right. Also a few additional manufacturing productions, a few key plants in the U.S., this is starting to look like more of a fundamental shift than a short squeeze. [00:15:00] And three weeks ago, everybody was saying, “Yeah, short squeeze, it’s an amazing short squeeze. It’s gonna come down.” Right? And now that same rhetoric has been changing to, “Actually, this is not that much of a short squeeze, but it is more of a there are not that many solids.” There’s a new big plant in Texas. There’s a new big plant in New York. There’s a lot of solids that are being pulled, and nobody was taking that into account. Everybody was expecting after the bird flu in California, we’re simply gonna go back to producing the same amount of nonfat that we were producing two years ago. And if you look at the data, it’s not correct, you know, Josh White: We also gotta give credit to substitution and other things. And what I mean by that is like calf milk replacer industry in the U.S. Historically, we’ll toggle for the cheapest protein between whey and milk powders. For sure, we’re seeing that appetite pick up for nonfat dry milk right now. Whereas two years ago there was a lot of WPC 34 on the market. All of that’s gone [00:16:00] because of the whey movement. I think the utilization is shifting quite a bit. We’ve talked about where it’s more difficult to track where milk solids are being consumed into a lot of protein enhanced beverages and things along those lines. That’s becoming more difficult. We’re saying demand’s not great globally, but if you pick up feed demand because they can’t buy the whey products they bought before, that is more demand for milk powder. And by far the cheapest dairy protein right now is nonfat dry milk. The big question I have is seasonally in the second quarter, are we going to catch up? Are we gonna be able to catch up globally or not? I think the whole market’s really struggling to try to form an opinion on that. Mostly because we can’t really measure and put a finger on just how much new protein-related demand there is in that difficult to measure space that I alluded to earlier. Diego Carvallo: Particularly in the U.S. right? In Europe doesn’t seem like that situation is as strong as it is the U.S. It seems like in the U.S., you have all of these new [00:17:00] cheese plants and UF plants, Class I plants, et cetera. It seems like, at least in the U.S. that inventory building is gonna be more difficult than in other regions. Josh White: And the European dryers are full right now, correct? Martijn Goedhart: Yes. Josh White: And the California dryers are full right now. Midwest dryers are nowhere near full. The answer to that might be a little bit easier than we’re making this discussion. We’ve added a whole lot of cheese capacity. There’s plenty of milk, but a lot of it’s being processed into cheese. Ted Jacoby III: Are there many new dairy plants of any kind in Europe right now? Martijn Goedhart: Not coming online this flush as far as I know. Not surprisingly, but most of the investment obviously is in WPC and WPI, I think Friesland has a big plant coming up, but it’s 2027, am I right, Henk-Jan? Henk-Jan Bouwman: Their latest expansion is 27. Yes. Ted Jacoby III: So we’re not really seeing any milk solids going to new places in Europe. It’s all still within the traditional milk sheds going to the usual suspects. Martijn Goedhart: Yeah. Yeah. Ted Jacoby III: Okay. Let’s switch topics to butter. The [00:18:00] U.S., a year ago, a year and a half ago, we were around $3 butter. It came down into the 2s, $2.50ish, and then the bottom dropped out, and it went all the way down to, I think, $1.28 at one point in the U.S. Now it’s back up in the $1.70s. But Europe dropped even more from an even higher precipice. Where have we been over the last year and where’s the butter market now in Europe, and what’s it doing? Martijn Goedhart: Yeah, well, butter was the main driver of the volatility that we see right now because €7 butter prices, the fed and the milk would already pay an above break-even price to farmers. And then your skim return is just bonus, right? Friesland just released their yearly report and they’ve been paying like, I think 56¢ on average, which is, well it’s a bit debatable, but I would say at least 16¢ above break-even. And then they get even a bit more profit share. That has like sparked that extra milk output, because every liter you produce is making you money as a farmer. You wanna get your components up, you wanna squeeze the maximum out of the milk. That’s how we ended up in this situation and the vicious correction at the other end of it that [00:19:00] we’ve seen. We’ve seen inventories build up and anecdotally we’ll also hear that all the chilled storage is full. That’s still the case. Those stocks haven’t disappeared. And also we’ve imported quite a bit when the spread with the U.S. and before New Zealand was significant enough to do so. That product is arriving now. And that adds to the supply pressure. However, that market has been stable for the last few months. I would say it’s been volatile, but we’re at the same levels than one and a half, two months ago. So that also shows that price correction ultimately also triggers extra demand. It’s an elastic product, especially on the consumer side. However, it’s also capped in terms of upside because those stocks are there. The liquid equivalent, cream, if you would buy cream today, you’d make it into butter. You’d be like at €3.30–€3. 40 cost price where the market is trading at €4.20–€4.30. So, there’s like a thousand euro. Ted Jacoby III: So the multiples in cream are low. Martijn Goedhart: It has been like this during our whole down season, which is very atypical. You could [00:20:00] argue that that multiple is only gonna weaken because milk starts flowing. Ted Jacoby III: Mm-hmm. Martijn Goedhart: The main discussion we have is like, is all that bearishness already priced in? And have we hit the bottom? Have we hit a level at which people are happy to buy? Or is there more to come? Ted Jacoby III: So you guys aren’t really seeing much upward-ness in the butter market in Europe right now? Martijn Goedhart: No. No. If you look from a, let’s say, traditional supply and demand theory, we have record-high stocks and record-high stocks, they basically kill any prolonged upside to a market, I would say, until you work through it. Ted Jacoby III: What about the cheese market in Europe? Is the cheese market high or low right now? And how’s it acting? Martijn Goedhart: It’s surprisingly tight. You would think that especially over the past few years, quite some capacity has been added to the European landscape. You would reckon that this extra milk would flow into the cheese plants, and you can’t find demand for it, so you’d have to move your cheese, and you’d see supply pressure from producers. But, the opposite is true actually. The cheese that’s supplied is very fresh. Within the range of what you can supply, it’s on the fresher side. That [00:21:00] indicates that there are no older stocks or backlog in terms of supply. I think producers have done a good job in capturing those moments when they were competitive on the world market by getting to make cheese disappear out of Europe. And then the last few weeks there were some production disruptions, some factory outages, and that even caused a bit more tightness in the cheese market. But it has stabilized ever since. It has been stable like butter. We’ve seen the bottom for now, and it went up a bit. The only thing is that in cheese there are no inventories. That makes you think that there’s more upside in cheese when milk growth starts to slow compared to butter because there’s no inventory holding it back. Ted Jacoby III: Why isn’t there any inventory? Was Europe doing some really good exporting for a while? Martijn Goedhart: Yeah, that’s the main reason. Big producers did big sales of gouda at some point or mozz when they were competitive, just to keep that supply chain clean. Butter, you can freeze, carry if the market pays for it. Ted Jacoby III: Mm-hmm. Martijn Goedhart: Cheese, you can only do it on paper, but not in reality. You need to get rid of it. Ted Jacoby III: Right. Josh White: How far out do we think the [00:22:00] international cheese buyer is covered right now? Because that was a big topic coming into the first quarter is how much of the cheese business, particularly in contestable markets, did Europe win away from the U.S. Ted correct me if I’m wrong, but our exports have been fine, haven’t they? Ted Jacoby III: Our exports have been fine. That’s actually a good way to put it. We experienced a real nice pop in exports last year. I would say this year, second half of Q4 into Q1, we’ve experienced exports that were relatively similar to last year. Maybe a hair behind. And I think we’ll start seeing those numbers soon, but I wouldn’t be surprised that when we finally see January export numbers, we’re down like 5% versus last year, when last year was a really, really, really good number. I’d almost say down 5% is unexpectedly good relative to how good it was last year. Martijn Goedhart: Josh, coming back to your coverage question, I think both our markets have seen massive carries right over the last few months. So, that’s not a very interesting structure for buyers to cover long. Our market was [00:23:00] trading like spot plus two months maximum. And producers would only make big sales if they have the product already, if they feel it already a little. So, I would suggest that cheese buyers in Europe, as well as around the world, are relatively shortly covered, just the same as with nonfat. Henk-Jan Bouwman: Yeah, I see the same in my export markets where basically all the inquiries we are getting for cheese, are relatively close to home, so maybe one maximum two months out from a shipment perspective. Ted Jacoby III: Mm-hmm. Josh White: So, Ted, are you interpreting this though, that the pressure’s gonna be on more so in the U.S. to win that business going into the second quarter? Based on what you just heard from our European friends? How are you digesting this discussion? Ted Jacoby III: That’s a great question. I would say yes, but price action makes me wonder if the U.S. is trying to price itself out of this market. Martijn Goedhart: Take cheddar for example. EU is about $300 per ton elevated over U.S. So, in certain applications, such as process cheese, I think, by default the U.S., will win that export business. Ted Jacoby III: Even [00:24:00] at current futures prices for April and May of a $1.80? Martijn Goedhart: Little bit of a different story. But that also depends on the outcome of European flush and the effect of that flush on cheddar pricing in Europe. Ted Jacoby III: I would agree with you that about three weeks ago, we were cheaper, but after this rally, I don’t know if that’s still true. Josh White: The point Ted’s driving home right now is the big carry in the Class III cheese markets in the U.S., you’re concern is pricing out the second quarter? Ted Jacoby III: That’s exactly right. I’m concerned we’re in the middle of pricing ourselves out of the market. Josh White: Are we putting ourselves in a spot where we’re the best priced cheese product. We know, out of the U.S., our daily milk volumes are gonna increase. We know that a lot of that milk’s gonna go into cheese. We know that we’re gonna have to compete for cheese business. But even despite the fact that Europe’s relatively balanced, it feels like on cheese, are we putting ourselves in the global market in a position where Europe may win? Martijn Goedhart: It’s gonna be a good fight, Josh.  None of the origins can afford to lose a lot of export business over the flush. We need to get those volumes [00:25:00] moving. So, the products where we compete, we will compete. Ted Jacoby III: Mm-hmm. And here’s what’s likely to happen. The U.S. having a little bit more mature and developed futures market means that as Europe goes out there and makes sure they get that business, the U.S. at some point will say, rather than going and exporting this cheese, I’m just gonna put it in a warehouse and hedge it out on the futures because there’s a carry in the futures market right now and I can make 10¢ just sitting on it for a month or two. If we are gonna have to go head to head with Europe, to get that export business, we might not get as much as we did last year in the second quarter, because in the second quarter we really did get a lot of that cheese export business. Martijn Goedhart: I agree. Only, to what extent can you actually carry it, physically, without refreshing, Ted? Because in Europe, that’s a bit of an issue. Ted Jacoby III: In the U.S., there’s a number of strategies, a lot of it being rolling your inventory. So, you take your working inventory and you just start rolling it because I don’t think there’s a huge difference between 30-day-old cheddar and 90-day-old cheddar to a lot of people. There are strategies to [00:26:00] manage through higher inventory levels. But at a certain point, even that working inventory carry, it starts to max out the warehouse, start to get full, and then they just gotta sell it. Martijn Goedhart: Right. Ted Jacoby III: What’s interesting is, I think that a lot of people went into 2026 thinking, “We’ve gotta make sure we’ve got a home for this cheese, because there’s a lot more cheese, and the U.S. market demand is not that great. It’s very flat. And so, if we’re gonna make 4% or 5% more cheese, we’re just gonna have to export it.” Martijn Goedhart: Yeah. Ted Jacoby III: And so, they weren’t even looking at that equation. But I think what’s happened in the last month with this volatility in the market, it’s gonna have the inverse effect of getting everybody to actually sit on that cheese and keep it at home, and you’d think it would be the opposite, but no, I think we’re gonna end up bringing more cheese home and letting you win some of those battles. Josh White: Ted, can we talk a minute about the milk production outlook in both regions and how that’s shifted a bit over the past month or two? I’ll start within the U.S. We generally believe that the margins have not been squeezed to a point where we’re gonna see a massive [00:27:00] supply response, a negative supply response in the U.S. for the foreseeable future. Ted Jacoby III: And the bounce off The bottom, if anything, we may be back into a place where we’re encouraging more production. Josh White: We’ve got some big comparables. There’s maybe some vulnerabilities in the market. We’ve obviously been surprised with disease and other things in the past, so it’s not imminent, of course, but the math says we should expect to continue to have a good amount of milk out of the U.S. going forward. How does that look out of Europe presently? Martijn Goedhart: I would say almost copy paste Josh. Skimmed has bounced back. Butter has stabilized. Cheese has stabilized up to a point where if I look at the valorization of gouda at €3,300/MT you’re well above the 40¢/kg mark, which is basically the pain point for European farmers. And then I’m taking into account sweet whey. Not even WPC, right? So, if you have your WPC return, that’ll add another few cents at least. So yeah, we didn’t go deep enough to encourage any decline in milk production. The big question is how that’s gonna turn out this year: if we see the same curve or more [00:28:00] corrected to normal seasonality. But from a margin perspective, I think, just like Ted said, we bounced off the bottom, and it didn’t hurt enough or long enough for anything structural to change in 2026. Josh White: Hey, Martijn, would you add a little bit of color to what you just mentioned a moment ago? The two flush situation coming from the bluetongue outbreak and issue. Martijn Goedhart: In early 2025 in Europe, there were cases of bluetongue and that spread quite quickly across Western Europe. Spring started, early temperatures went up, and mosquitoes that spread the virus sting cows and then they get infected. It has an effect on calving. A lot of calves are not born in the right way, and also the cows, the output goes down, and it’s harder to get them pregnant. So, some cows, they first have to get over the bluetongue disease before they would start to calve. Some cows would calve late and that means that the milk also starts flowing late. Where you’d typically see a peak, in March, April, and then in eastern Europe, it’s a bit later, but now you’ve seen a similar peak because margins were good, but a longer [00:29:00] plateau at that level as well. Those cows get dried off later as well. So, are they gonna calve later again or is it like maybe some like refreshing of cows in the system, and the new ones will be set up according to the normal season? It’s a big question mark. We don’t know. Even the co-ops are struggling with that. Ted Jacoby III: So, you could have a flush that does not hit the peak it usually does, but it’s just longer. Martijn Goedhart: Yeah. If it’s the same as last year, that’s what’s gonna happen. If we somehow move back to a normal seasonal pattern, then you’ll see a higher peak than last year, but a bigger decline in the second half of the year. Josh White: If we’re talking about demand being okay and large amounts of milk in both Europe and the U.S. likely to continue, is there anywhere in the world that is suffering on their milk production? Do any of us have an idea of what’s going on with milk production in China? Martijn Goedhart: I think margins there are low. It’s been flat until now, the output, but it’s hard to get consistent numbers from China. But margins are still very low. So, that would not incentivize [00:30:00] growth. Ted Jacoby III: Milk production in China popped over a two year period, about five, six years ago. Then held steady for a couple of years, then it pulled back. Now, after that pullback, it’s flatlining again. Josh White: What we’re basically concluding from this is that we’re gonna have a lot of milk still, but, with the exception of some risk maybe on the cheese side and maybe in the butter situation in Europe, the rest of the products don’t seem to have concerning inventory levels as of right now. Ted Jacoby III: I would agree. I think there’s enough supply, but there seems to be surprisingly good demand, especially for protein. All right guys, we’re wrapping up here. Lightning round question. Do you think what’s happening in the nonfat market is a result of increased demand or less supply? Josh, you go first. Josh White: I wanna say both. We’re experiencing more demand across the entire curve that is both pulling more nonfat supply and is also pulling away skim solids from the dryer. Ted Jacoby III: Martijn? Martijn Goedhart: I agree with Josh. Some of it is fundamental SMD but a big part of it is demand waiting too long and needing to deliver. Ted Jacoby III: Henk? Henk-Jan Bouwman: yeah, I’m with you [00:31:00] guys. Ted Jacoby III: I do not want a chicken out like you and say both, so I’m trying to decide which one. I think it’s very subtle, but this is actually demand driven more than supply driven. Martijn Goedhart: Yeah. Ted Jacoby III: Yeah. All right guys. Thanks for joining us again. We really appreciate all the time that you guys spent tuning in and listening to us.  Keep milking those cows, and we’ll keep showing up and telling you what we’re seeing out there. Ted Jacoby III: We’ll be back in two weeks for a market update with the Jacoby team. Looking forward to seeing you then. All right guys. Hey, Martijn. Henk, thank you so much for joining us today. Really appreciate the conversation. Martijn Goedhart: Thanks guys. Huge pleasure. Henk-Jan Bouwman: Thank you very much. Martijn Goedhart: Cheers.

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTube

Most investors think their biggest losses come from bad picks. They don't. They come from blind spots. In this episode, Andy Tanner, Corey Halliday, and Noah Davidson unpack the psychological traps that quietly sabotage traders and investors. Sunk cost fallacy. Anchoring to past prices. Averaging down to "get back to even." Overconfidence disguised as conviction. These aren't strategy problems. They're belief problems. You'll hear why price alone tells you nothing about value. Why holding a loser to avoid admitting you're wrong is often the costliest decision you can make. And why the real edge in trading isn't prediction — it's risk management. The conversation moves beyond tactics and into self-awareness. Because markets don't just test your capital. They test your identity. Are you managing risk — or defending your ego?
Are you following a plan — or reacting to discomfort? This episode isn't about a new indicator or a better entry signal. It's about understanding how your own thinking can distort decision-making — and how disciplined investors structure their process to prevent small errors from becoming permanent damage. The market is rarely the enemy. Unexamined assumptions are. Want to Learn More? – Explore free education and tools at cashflowbonus.com to strengthen your investing foundation – Keep building your financial education at yourinvestingclass.com.

We're going whale watching today. No, not orcas or great blues, but financial traders that place big bets on something called options. On today's show, who are these option whales and do their bets always pay off? FYI, we are going on a book tour! Planet Money's first ever book comes out in April. We'll be celebrating in about a dozen cities. There's a limited edition tote bag included with your ticket, while supplies last. Details, dates and how to get your ticket at planetmoneybook.com.  Related episodes: Invest like a Congress member  For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Fact-checking by Sierra Juarez. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Hello, hello newsies!! Yes, we've taken quite the long Christmas, New Year, errrr, January break! Yes, work, school and life took over a bit (which happens more and more that Leela is a TEENAGER now, can you believe?!). But, we're back in time for the… new Chinese New Year, yay! Or should we say, neeeehaaaay! Because, yes, it's the Year of the Horse for 2026. We'll give you the low-down on what that represents and, as ever, what the zodiac calendar means. 

Traitors US S4 Week 7 Exit Interview w/ Banished Player Welcome to RHAP’s coverage of ALL the Traitors iterations from around the world, including New Zealand, Australia, and Canada. The Traitors US is a high-stakes reality competition set in a secluded castle, where contestants must work together to complete challenges and earn a prize pot—while rooting out the secret traitors hidden among them. Natalie Anderson sits down with Rob Cesternino and Pooya for an honest exit interview after her banishment from the latest Traitors roundtable. Natalie reflects on her time as the final gamer standing and the difficult decisions she faced in the castle. With emotions running high and trust broken, Natalie and the hosts dig into the social dynamics, alliances, and game-changing moments that shaped her exit. Natalie opens up about her strategies and regrets, revealing how alliances were lost and how she could have approached her last day differently. She explains the challenges of convincing others to vote against Rob and discusses the isolating tactics used by Johnny and Tara, which kept her cut off from key players like Mark, Maura, and Eric. The conversation turns to the mysterious dagger, the hesitance from others to target Rob, and how the perception of being a “gamer” created extra heat and suspicion for Natalie throughout her time in the castle. Key moments from the interview: Natalie considers redirecting votes toward Rob after realizing Tara was not on her side. Johnny's influence shapes Tara's decision at the roundtable, fueling Natalie's frustration. The dagger controversy complicates trust and alliances, raising suspicions about Rob's motives. Natalie’s analysis of Eric's covert gameplay and why he remained under the radar. Insight into the anti-gamer bias in the castle and how it affected strategic choices and banishments. Natalie's deep dive into her Traders experience uncovers the mental toll of isolation, the intricacies of castle politics, and the fallout of not being able to unite fellow gamers. Will the lingering gamer bias shift in future episodes, or will strategic targeting continue to dominate the game's endgame? Chapters: 00:00 Intros 01:08 Regrets and Missed Opportunities 02:12 Johnny's Influence on Tara 03:17 Dagger's Role in Game Strategy 04:29 Doubts About Rob Surface 05:28 Noticing Rob's Behavioral Shift 06:41 Eric Never Suspected as Traitor 07:36 Gamer Bias and Final Stand 09:39 Anti-Gamer Bias in the Castle 10:38 Natalie Reflects on the Experience Never miss all our Traitors US recaps plus recaps from other versions around the world! LISTEN: Subscribe to The Traitors Around the World podcast feed WATCH:  Subscribe to the podcast on YouTube SUPPORT:  Become a RHAP Patron for bonus content, access to Facebook and Discord groups plus more great perks!

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links —Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.Soybean markets started the week wrestling with fresh tariff drama. The Supreme Court struck down the administration's prior global tariffs, ruling that the use of emergency powers was unlawful. Shortly afterward, the White House announced a new blanket tariff approach, creating another wave of uncertainty across financial and commodity markets. The key question for agriculture remains unchanged: how will this impact trade flows and demand, particularly from China? Earlier signals pointed toward stronger soybean buying interest, but policy volatility continues to cloud the outlook.Meanwhile, USDA is preparing to roll out a major round of farm assistance through the Farmer Bridge Assistance program. The application window opens today, with payments expected to move quickly. Market participants will be watching closely to see how the agency handles what could be a surge in producer enrollment. The program arrives at a time when farm margins remain under pressure and policy uncertainty is elevated.Export demand signals were mixed in the latest weekly data. Corn demand continues to hold up relatively well despite some week-to-week variability, while soybean and wheat sales showed uneven momentum. Traders remain highly sensitive to shifts in global demand and competitiveness.The latest Commitment of Traders report showed funds adding to positions across the grain complex, with soybeans drawing particular attention. Positioning trends remain an important driver of short-term price movement, especially in an environment dominated by macro headlines.In livestock, the latest Cattle on Feed report landed near expectations and was generally viewed as neutral. While placements data offered some supportive elements, the overall numbers did not point to a major shift in supply outlook.Lots to unpack this week as markets digest policy developments, demand signals, and fund activity. Stay tuned.

A new report reveals how recent trade policy shifts are drastically redrawing the global competitive map. We will analyze the "winners and losers" in the commodities market as relative tariff prices change overnight.Today's Stocks & Topics: Constellation Energy Corporation (CEG), Market Wrap, IMAX Corporation (IMAX), Options, Albertsons Companies, Inc. (ACI), Trade Wars & Wine: The New Global Tariff Map, NEOS NASDAQ-100(R) High Income ETF (QQQI), International ETFs, IREN Limited (IREN), Reddit, Inc. (RDDT), Different Types of Traders.Our Sponsors:* Check out Anthropic: https://claude.ai/invest* Check out Pebl: https://hipebl.ai* Check out Quince: https://quince.com/INVESTAdvertising Inquiries: https://redcircle.com/brands