Our 5 Favourite Trading Podcasts & Key Lessons To Learn
When you start your journey into the world of forex trading, it can be difficult to know what to expect, especially if you are working wforex funding programme which allows you to hit the ground running.
In many respects, it is like learning to drive the first few lessons will feel like a bewildering bombardment of new information, skills to learn and techniques to internalise and make second nature. Similarly, if you keep practising and learning, you will get better and better.
Another way in which driving and forex trading are similar is that so many of us love to listen to podcasts whilst we do both.
In particular, trading podcasts are a great way to get fun, enjoyable, personal insights into the world of trading from people who have the expertise and experience to help you get started, as well as provide stories about how they got started, what their philosophy on trading is and why trading matters beyond the investment platform.
With that in mind, here are five of our favourites, and what lessons you can learn from each.
Chat With Traders
One of the first and most prolific independent trading podcasts, Chat With Traders is exactly what the title suggests; it is a set of fascinating interviews with a wide range of different types of traders, stories, topics and investment focuses.
Whilst a handful of episodes specifically focus on forex, Chat With Traders also provides insights on risk management, how to develop your trading style and strategy, wider economic discussions and how to maintain a psychological edge and build resilience.
We love that it has a little bit of everything, and because it has been going for over a decade at this point, there are so many insights that run the gamut from market wizards to people who pivoted into trading that there is likely to be a story that resonates with you.
Key Lessons To Learn From Chat With Traders
It is more important to know why a successful trader made the decisions they made than the decisions themselves.
A diverse range of voices will provide the widest range of skills.
You learn as much from losses and struggles as from success.
Planet Money
Almost akin to the Freakonomics of podcasts Planet Money attempts to tell the story of money in the most entertaining and easily accessible way possible.
The concept is that any topic, no matter how big or how small, can be linked to complex economic topics, something that resonates a lot with people trading forex because the connections between world events and market portfolios are potentially even more important.
Whilst we wish that it focused a little more on trading exclusively rather than more general economic ideas, there is so much you can take from it, especially if you are coming to trading from another field entirely.
In particular, the episodes discussing the AI Bubble, the Wells Fargo scandal and the subprime mortgage crisis that inspired the creation of the show in the first place are must-listens.
Key Lessons To Learn From Planet Money
In a capitalist society, everything is shaped by money, and money shapes everything.
Financial markets are driven as much by storytelling as technical analysis and solid fundamentals.
The most unlikely events can have huge effects, like the butterfly causing a hurricane with a flutter of its wings.
Mad Money With Jim Cramer
Whilst not just a podcast, Mad Money With Jim Cramer is one of the longest-running and most infamous shows about trading and the stock market ever made, and has shaped the discourse surrounding the stock market as much through irreverence as through sound advice.
It is a wild mix of market news, strange segments, rants about the market and the famous “lightning round” where callers ask if they should buy or sell a particular stock.
As with any other podcast, the insight comes not from the actual stock picks but from the mentality behind them. There was a point whereInverse Cramer strategy actually made more money than following his advice.
However, amidst the chaos, the shrieking baritone, the thrown chairs and the war he waged with comedian Jon Stewart, there are some fascinating lessons to learn.
Key Lessons To Learn From Mad Money
There is always a bull market somewhere to invest in.
You can make money during a bull market or even a bear market.
Diversification is the most important skill to learn.
Money For The Rest Of Us
A far more relaxed, incredibly welcoming podcast compared to the whirlwind that is Mad Money, Money For the Rest Of Us has the mission of introducing people to the world of investment, whilst ensuring that it does not dominate your life.
Whilst all of these podcasts are great to listen to whilst you trade or get on with your life, Money
For the Rest Of Us feels less like a game show spectacle like Mad Money or a showcase of the biggest ideas and biggest people in trading, but more like an experience companion giving you his insight, having gone through what you are going through now.
It would be nice if David Stein did more episodes on forex; his episode on “Why Most Money Fails is a must-listen to get a primer on the general principles of the money markets.
Key Lessons To Learn From Money For The Rest Of Us
Trading should help you live your life; it should not become your life.
There is no single perfect way to invest.
Have a trading journal and document your investment journey.
We Study Billionaires
Sometimes the best way to understand the forex market is just to look at its winners, and We Study Billionaires is fantastic at drilling down through the blinding successes and finding the useful lessons and strategies that you can apply.
Whilst the podcast does not directly focus on forex, there is one particularly excellent episode which explores George Soros, the man credited with the greatest single forex trade in history, shorting the British pound and breaking the Bank of England.
Key Lessons To Learn From We Study Billionaires
You cannot duplicate what has gone before and get the same results, but you can apply the same logic to improve your results.
A theory sometimes needs to mature before it can be accepted or discarded.
The market is sometimes driven by forces outside of the logical.