Traders Mastermind

Sponsored by Pepperstone No big claim in this one. Just a thought on why staying open-minded might be one of the most underrated attributes a trader can have... and what being open-minded actually means in practice. A clickbait short came through my feed the other day. Guy ranting about how a specific strategy was total nonsense, how "this is how the funds do it." Except a bit of digging turns up four or five firms running exactly the strategy he says doesn't work. Twelve-year track records. All public. So this episode is about the alternative. You look at a strategy and you land on one of three things: you like it and you'll test it later, you take something from it, or it's not for you. And then it ends there. No energy spent telling everyone else it's rubbish. I cover: Why open-minded doesn't mean chasing shiny objectsTaking the process, not the strategy (a hedge fund's stress-testing approach I nicked)Expressing the same trade idea a different wayMoon phase strategies and why I don't care if they workBuilding your own playbook from borrowed parts Most hedge funds don't beat the market. Most traders don't make money. That's just how it works. The best take the spoils.

Sponsored by Pepperstone Early 2000s. I flew from the UK to Las Vegas to sit in on a new trader intake at a prop firm. Three strategies, all working, all making the firm serious money. I went home and couldn't trade a single one of them. Not because they were bad. Because they were never going to fit me… I didn't have the capital, the stomach for size, or the appetite for spreadsheets. Took me a long time to work out the difference between "this doesn't work" and "this doesn't work for me." In this episode, I break down all three strategies (NYSE opening print fair value, ECN liquidity rebates, and pairs trading), why each one failed in my hands, and the filter I now run every new strategy through before I waste any time on it. Relevant timing, given we're currently tearing down 12 popular strategies in the Pepperstone webinar series. Some will be for you. Most won't. That's the whole point.

Sponsored by Pepperstone Two traders. Same meetup, same market, same year. One bragged about every win… until the week he vanished, fifty grand down on borrowed money. The other never bragged, and ten years on, he's still trading and thriving. Mark unpacks the one thing that separated them: process over ego, long-term over the quick win.

Most traders are wired to push… bigger size, more strategies, faster progress. But the most successful people in any field share a trait we rarely talk about: they're not afraid to take a step back if it sets up a bigger step forward. If you've been grinding month after month with nothing to show for it, this one's worth a listen. Thanks to Pepperstone for sponsoring this episode.

We all know the high-water mark... fund managers use it for their equity curve highs. Hit a million, lose some, climb back above the old peak before you get paid. But what if you applied that same thinking somewhere else entirely? In this episode, I dig into using high-water marks beyond your account balance. Longest trade held.Most days sticking to your rules.Fewest red days.The longest journaling streak. None of these moves your PNL on their own... but together they support it, and more importantly, they reframe what progress actually looks like. Because here's the problem. Especially in those early years, you pour in the effort and the equity curve shows you nothing. It's a recipe for despondency. So you measure something else. You chase a personal best in the things you know matter, and you start to believe bigger things are possible. Could be the unlock you need. Thanks to Pepperstone for sponsoring the episode

Sponsored by Pepperstone Most traders obsess over strategy, mindset, and discipline… but what about creativity? In this episode, Mark explores an idea sparked by a post from "StockBee" (an X trader credited in the new Market Wizards book with helping at least one wizard make hundreds of millions): that progress in trading often comes from thinking creatively, not just logically. Mark unpacks his diagnose-then-prescribe framework for solving trading problems, identifying the biggest domino holding you back, then finding a fix, and shows how adding a "creativity lens" can unlock solutions you'd never reach through pure logic. He shares real examples, from using a cheap desk timer to slow down impulsive decisions to creative ways of improving your risk-to-reward ratio through smarter entries. If you're more creatively wired than rule-driven, this reframe might be the unlock you've been looking for.

Sponsored by Pepperstone The new Market Wizards book — The Next Generation by Jack Schwager and George Coyle — is out, and before you dive in, there's one thing worth keeping in mind. In this episode, Mark looks back at the series that inspired a generation of traders, from the 1989 original through to today, and shares why these books are gold for any developing trader… as long as you read them the right way. Capital at risk. This content is for educational purposes only and is not investment advice or a recommendation to trade.

Sponsored by Pepperstone If you're a developing trader, should you focus on day trading or swing trading? It's the question everyone asks early on... and my thinking on it has shifted over the years. In this one, I go through the definitions, the usual pros and cons, and then the bit most people skip: the psychological cost. Fast decisions, fast damage. Why beginners fall apart day trading and what that actually does to your account. I get into the asymmetry problem too. Why it's so hard to find a true asymmetric trade intraday in normal conditions, and how holding for a few days changes the maths. Then my honest take on what I'd do if I was starting again now. It's not clear-cut. But on balance I land somewhere.

Sponsored by Pepperstone Would you get hired by a hedge fund? The traits funds screen for before they let anyone near a book are the same ones that keep a retail account alive. No billions or trading desk required... it's behaviour, discipline and self-awareness. We go through what they look for at hiring, what they demand once you're managing a book, and the honest question underneath it all: would you hire yourself?

Sponsored by Pepperstone A rapid-fire episode. 10 questions traders have sent in over the past few weeks, answered as honestly as I can in under 10 minutes. In this episode: How much money do you actually need to start tradingHow long until you're consistently profitable (and why the answer is longer than you want)How to tell if your strategy is broken or just in a drawdownShould you go full-timeStopping revenge trading after a lossSizing positions properlyWhether prop firm challenges are worth itDealing with people who call trading gamblingRSI vs Stochastics (and why it probably doesn't matter) Got a question for the next one? Reply to the daily email. 🔗 Spread Bet Risk Per Trade Calculator

Sponsored by Pepperstone Most traders are doing the same thing. Same charts, same lines, same indicators. And if everyone's doing the same thing... where's the edge? In this episode, Mark digs into what actually separates the trader who's stuck spinning their wheels from the one putting up the numbers. It's not discipline. It's not risk management. Those are table stakes. It's something else. Something the traders we admire all seem to have, even if they describe it differently. This isn't a silver bullet episode. You won't walk away with a strategy. But you might walk away with the right question to start asking yourself. What's the thing you see that others don't?

Sponsored by Pepperstone Why can't I run my winners? It's one of the most common questions I get from traders. And the obvious answers (be more disciplined, walk away from the screen, trust the trade) usually don't work. So in this episode, I borrow an idea from Rory Sutherland, the Ogilvy behavioural economist: "the question is a lazy formulation of the problem." And I apply it to running winners. Turns out the reason most traders never solve this is because they're asking the wrong question. We work through better ones, and what changes when you do.

Sponsored by Pepperstone John had his best month ever. Then gave back 70% of it the month after. He asked: Did I crack it, or did I just get lucky? Here's the real answer and the high-watermark trick that stops your brain from sabotaging the run after a good one.

Sponsored by Pepperstone AI has just taken a massive leap. You can now ask it pretty much any question about price action, drop in a free CSV from TradingView, and properly interrogate the data. But most traders are asking the wrong questions. In this episode, Mark breaks down a simple 5-question framework for using AI to support discretionary trading… not replace it. It's not about building quant algorithms. It's about testing the hunches you've carried around for years, layering another edge onto your setups, and trading with a bit more conviction because the data has your back. Covers: Why "what will happen?" is the wrong questionThe 5 questions to ask before writing any promptHow to export a CSV from TradingView in 10 secondsReal prompt examples for FX, indices and metalsThe mindset shift from prediction to historical probability If you've ever said "gaps always fill" or "after a trend day we always retest" this is the episode that shows you how to actually test it. Quickly.

Sponsored by Pepperstone Most traders just pick 1% because someone told them to. But where did that number come from? And does it actually make sense for your goals, your win rate, and your R:R? In this episode I break down how to reverse engineer your risk per trade from your actual trading data. We look at why trade frequency can be a trap, why small changes in R:R massively shift the maths, and why the textbook approach ignores the one thing that matters most... your goal. I also built a risk per trade calculator you can play with. Risk Per Trade Calculator

Sponsored by Pepperstone Charlie Munger used to do something interesting when he was stuck on a problem. Instead of asking how do I succeed, he'd ask how do I guarantee failure… then simply not do that. In this episode I take that idea and apply it to trading. How would you guarantee you never improved? How would you make sure a small loss became a big one? How would you design a routine that burned you out within a year? The answers are uncomfortably familiar. Sometimes the edge isn't something you add to your trading. It's what you stop doing.

Sponsored by Pepperstone Most traders think they’re struggling because they don’t know enough. In reality… it’s often the opposite. In this episode, Mark breaks down The Curse of the Intellectual Trader. Why smart, successful people often find trading harder than expected, and how overthinking kills performance. You’ll learn: Why intelligence can work against you in the marketsHow traders confuse complexity with edgeWhy simple strategies feel wrong (but often work best)A powerful example from Pit Bull: Lessons from Wall Street’s Champion Day TraderHow to strip your strategy back to something you can actually execute If you’ve ever felt like you’re thinking too much, hesitating, or overcomplicating your trading… this one’s for you.

Sponsored by Pepperstone Something happened to me the other day that I wasn't expecting. A woman trapped in a window, fourth floor, covered in blood, screaming for help. I went in. And as I was debriefing afterwards... I realised every skill that kicked in came from trading. Signal vs noise. Risk management. Clarity under pressure. Acting on incomplete information. Being firm first, then calm. This episode is that story, start to finish. Then I walk back through it and pull out the trading parallels. It's a different one. But if you trade, you'll get it.

Sponsored by Pepperstone. Most traders don’t lose because they’re wrong on direction… They lose because they enter too late. They wait for confirmation. They wait to feel safe. And by the time they pull the trigger… The trade is already broken. In this episode, I break down why entry location is one of the most overlooked edges in trading… and how a simple idea, buying on red and selling on green, can dramatically improve your risk-reward. We cover: Why waiting often destroys trade structureThe difference between buying pullbacks vs chasing breakoutsHow volatility contraction and expansion impact your edgeWhy better entries lead to better trades (even with the same idea) If you find yourself being right on direction a lot… but not getting the results. This one will hit home.

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.

Sponsored by Pepperstone At some point in trading, something changes. Not your strategy. Not your indicators. You change. After enough screen time, enough wins and losses, and enough experience in the markets, traders begin to see risk, uncertainty, and decision-making very differently. In this episode, Mark breaks down the subtle psychological shifts that happen only through experience: Why experienced traders are comfortable saying “I don’t know”How losses lose their emotional weightWhy nobody actually knows where price is goingThe real reason patience eventually becomes naturalAnd why individual trades stop mattering as much as you think If you’re in that frustrating middle phase where you understand trading but consistency still feels just out of reach, this episode may change how you view your progress. Sometimes the biggest improvements in trading don’t come from learning more - they come from staying in the game long enough for experience to do its work.

Sponsored by Pepperstone Everyone's panicking about AI replacing white collar jobs. Accountants, lawyers, coders, designers... the list keeps growing. But what about us? Will AI solve the markets and put traders out of business? In this episode, I break down why I think trading is one of the few skills AI genuinely can't replace, why algos have been battling each other for decades without "solving" anything, and why now might be the perfect time to double down on building your edge.

Sponsored by Pepperstone Have you ever sat at your desk after a bad run and wondered if the exit is the right door? In this episode I walk through three of the greatest traders who ever lived... Jesse Livermore, Paul Tudor Jones, and Stanley Druckenmiller, and the specific moments each of them nearly walked away from trading for good. Livermore went bankrupt and got suspended from the Chicago Board of Trade. Tudor Jones wiped out 70% of his account and said "I don't think I can hack it much longer." Druckenmiller lost three billion dollars to FOMO and described it as devastating. None of them were being irrational. Quitting would have been the reasonable response. But they didn't. And what happened next is the point. If you're in a rough patch right now ... this one's for you.

Sponsored by Pepperstone Trading looks obvious in hindsight. In real time, it’s chaos. In this episode, I explore the idea of the fog of war... how decisions are made with incomplete, delayed, and sometimes wrong information, and why trading feels exactly the same. Experience matters. Debriefing matters. And waiting for certainty is rarely the answer.

Sponsored by Pepperstone How long does it really take to become profitable in trading? Not the marketing answer. Not the fantasy timeline. The real one. In this episode, I break down what the journey to consistent profitability actually looks like, why most traders underestimate the time it takes, and why staying in the game matters more than trying to be clever. We’ll talk about: Why volatility seduces traders into bad decisionsHow long some of the world’s best traders took to become profitableThe difference between gambling and building a skill for lifeWhy small size and longevity beat big swings early onHow to think about trading like a startup with a runway If you’re frustrated, questioning yourself, or wondering whether it’s just you… this one should help recalibrate your expectations and keep you moving forward.

Sponsored by Pepperstone If you’re stuck at break even, not losing much but not making much either, and you feel like you’re spinning your wheels, this episode is for you.

Sponsored by Pepperstone In a perfect world, you’d be sitting in a trading office, surrounded by other traders, high standards, shared prep, honest feedback, and accountability. You’d get better faster just by being there. But most traders don’t have that option. In this episode, I talk about: Why trading offices work so wellHow collaboration accelerates learning and raises standardsTrading buddies vs trading pods and what actually helpsHow I used collaboration throughout my own trading journeyAnd how to recreate the best parts of a trading office without the commute I also reference a great clip from SMB Capital, where Jeff Holden explains why collaboration is such a powerful force in developing traders, especially when trading remotely. Video mentioned in this episode. Traders Mastermind Community: If you’re looking for structured collaboration, trading pods, and high standards, you can learn more about the Traders Mastermind community here.

Sponsored by Pepperstone Progress in trading isn’t smooth or predictable. Here’s why effort and results don’t line up… and why that’s just part of the game.

Sponsored by Pepperstone You didn’t exit too early. You had the wrong mindset. In this episode, I break down mindset matching... aligning your mindset with the market and the structure you’re trading. Grinding trends and momentum moves look similar, but they demand very different mental calibrations. Get this wrong, and even good trades fall apart!

Sponsored by Pepperstone In this episode, I break down the three non-negotiable steps I’ve seen work again and again for traders who finally stop spinning their wheels and start making real progress. We cover how to define your trading North Star, how to reverse engineer your edge into focused daily work, and how to review your performance properly... without over-analysing or burning yourself out.

Sponsored by Pepperstone A short Christmas check-in to wrap up the year, share a few trading reflections, and say thank you before we reset for January. No lessons, no predictions... just an honest end-of-year reflection. Merry Christmas

Sponsored by Pepperstone Have you ever seen the film Zulu? It’s not really a war film. It’s a lesson in discipline under pressure. In this episode, I break down what the Battle of Rorke’s Drift teaches us about trading… why structure beats strength, why survival matters more than heroics, and why holding the line is often the real edge. A calm look at discipline, risk, and behaviour when things get uncomfortable.

Sponsored by Pepperstone Forget the tech. Forget the tribalism. Mark digs into the behaviour around crypto, how narratives form, how they collapse, and why traders should stay observers, not disciples.

Sponsored by Pepperstone Ever wondered why floor traders thrived? It wasn’t the bright jackets!... it was their clarity of edge. In this episode, Mark breaks down what their real advantage was and how modern traders can apply the same principle today.

Sponsored by Pepperstone In this short Budget Day briefing, I break down the setups, the traps, the tone shifts that move cable, and the oddball trades that can appear when the market misprices Reeves’ announcements.

Sponsored by Pepperstone Most traders don’t fail in year one, they fail in year two. In this episode I break down why traders stall, burn out or blow up in that 12–24 month window, and how to make sure you’re one of the few who actually push through and build consistency.

Sponsored by Pepperstone Most traders swing between two extremes: trading so small it doesn’t matter… or trading so big it destroys their ability to think clearly. In this episode, we break down how to actually find the sweet spot... the size that engages you, keeps you disciplined, and doesn’t sabotage your edge. Plus, the two phases every trader must go through before scaling up.

Sponsored by Pepperstone You took a trade you shouldn’t have… moved the stop… oversized… maybe all three. Now you’re staring at a red number and feeling disgusted with yourself. Here’s the thing: that emotional spiral is where traders get wrecked... or rise. This episode is about what to actually do when you’ve just messed up… and how the best traders break the cycle before it breaks them.

Sponsored by Pepperstone You’ve got the idea. The backdrop lines up. You know what you want to do… But you’re waiting for that perfect trigger... and before you know it, the move’s already gone. In this episode, Mark breaks down the concept of the feeler position, a small, early entry that keeps you aligned with the trade idea while managing risk. We explore: When to use a feeler trade (and when not to)How it shifts your mindset from hesitation to actionWhy it sharpens your focus and reduces FOMOHow to build a position around a solid thesis. even when conditions aren’t perfect If you’ve ever said, “I knew it was going to move, but I didn’t take the trade…” — this episode is for you.

Sponsored by: Pepperstone There are two types of traders I see stuck in the same painful cycle... and they couldn’t be more different. One’s a gunslinger: fast, aggressive, and emotional. The other’s a technician: precise, rule-based, and controlled. In this episode, I dive into what each type is missing, how to spot which one you are, and what to do to finally get your edge working. If you’re stuck, plateaued, or constantly second-guessing yourself... this one’s for you.

Sponsored by Pepperstone Sometimes, intelligence works against you in the market. In this episode, I share two stories... Isaac Newton and Mike Ashley, both brilliant men humbled by price. A reminder that no matter how clever you are, price is king.

Sponsored by Pepperstone Want to catch a liquidity rug pull before it unfolds? In this episode, I walkthrough my TradingView setup for spotting potential turning points in markets like gold, without being glued to your screen. You’ll learn how to set alerts for range expansions, prior day lows, key volatility shifts, and more. Perfect for traders who want to prepare for big intraday or multi-day moves before the crowd reacts.

Sponsored by Pepperstone UK traders — this one’s for you. Is spread betting truly tax-free? What if it’s your only income? What if you’re making serious money from it? In this episode, I break down the latest 2025 HMRC updates on spread betting and taxation, including some surprising clarifications buried in their official guidance. You’ll discover: Why spread bets are treated differently from CFDs and futuresThe myth of “if it’s your main income, you’ll be taxed”What HMRC now says about professional gamblersWhy UK traders might have the best deal in the world (for now) Plus: A full blog post with links to the official guidance is available at TradersMastermind.com

Sponsored by Pepperstone Ever wondered what your broker really does with your trade once you hit “buy”? Are they hedging it? Taking the other side? Betting against you? In this episode, I break down the difference between A-booking and B-booking, explains how most modern brokers actually manage risk, and answers the question that matters most: should you even care? You’ll learn: What A-book and B-book models actually areHow risk is managed in hybrid modelsWhy prop firms are pure B-book (and what that means) Whether you’re new or experienced, this episode gives you a straight-talking look at broker mechanics... no nonsense, no conspiracy theories

Sponsored by Pepperstone Forget the generic trading advice. In this episode, I share twelve unusual tips that sound strange at first — but can transform the way you trade. From kitchen timers and standing desks, to hiding your P&L and levelling up life outside the charts, these are the offbeat tweaks that sharpen discipline, reduce mistakes, and keep you focused on what really matters: building an edge. Try one or two this week and see how much the “weird stuff” moves the needle.

Sponsored by Pepperstone Are you chopping yourself up trading both long and short in the same session? In this episode, I dive into a powerful but often overlooked idea from legendary traders like Wyckoff, Linda Raschke, and Toby Crabel: aligning with one side of the market — and staying there. Could this old-school approach be your unlock to clearer decisions, better trades, and more consistency? Let’s find out.

Sponsored by Pepperstone Imagine trading with your future self watching over your shoulder. Every click, every stop move, every hesitation — exposed. Would they nod in approval, or wince in frustration? In this episode, I break down the Trader’s Mirror Test and how this quirky mental exercise can change the way you see your trading forever.

Sponsored by Pepperstone. Is your stop loss helping you—or hurting you? The textbook says “set it and forget it,” but real-world trading isn’t always that simple. In this episode, I explore alternative ways to manage risk: scaling out, discretionary cuts, wide circuit-breaker stops, and active intraday adjustments. If you’ve ever felt like tight stops kill good trades—or wide stops dig bigger holes—this discussion will help you rethink how you manage risk in dynamic markets.

Sponsored by Pepperstone You’re in a winning trade. Price is moving in your favour. The temptation to add size kicks in… but one wrong move and that green trade turns red — fast. In this episode, I break down the art and science of scaling into a winner: Why adding can supercharge your P&L — or destroy a solid tradeHow to avoid emotional adds that wreck your average entryFrameworks for adding with structure and disciplineThe psychological traps traders fall into when scaling mid-tradeWhen to treat adds as separate trades — and when to wrap them in If you’re looking to build size like a sniper — not a gambler — this episode is for you.

Sponsored by Pepperstone Prop trading is booming in 2025… but it’s also messier than ever. In this episode, I break down: The reality of the top firms and their business modelThe rule changes designed to stop both trader and firm scamsWhy payouts get refused (and how to avoid it)When prop trading makes sense… and when you’re better off going solo Whether you’re thinking of taking your first challenge or you’ve been trading prop for years, this is the no-BS take you need before risking another penny.