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Show notes

Due to the outstanding response to our last traders podcast, we decided to invite our client, Ross Maxwell, professional full-time trader, and Director of Key Zone Traders, onto our podcast to record a special episode.

Key Zone Traders is an online trading education company for new and existing traders. Ross focuses particularly on the importance of mindset in order to trade successfully. In the podcast he shares the story of one of his clients who had been making losses for over 10 years. Working with Ross, he made a consistent plan for trading and focused on making healthy mindset habits. The result? He’s been profitable for over 2 years now.

Listen to Caroline Ward (our very own financial traders Chartered Accountant and Adviser) ask Ross everything from how to start trading the right way, understanding what a draw down period is and how to keep a good mindset during it to how mindfulness helps him trade every day.

Once you’ve listened to and digested this podcast, you will be able to:

✅ Understand what a draw down period is and how to keep a good mindset during it

✅ How to get into the right mindset for trading

✅ Importance of getting the right structure in place to take that pressure off

✅ How to start trading the right way

✅ How to develop the skills to identify when you’re feeling emotional so you can step back

✅ How mindfulness helps your trading

✅ Understand the importance of investing in trading education

✅ Find a strategy for trading and the importance of working on making one strategy successful

Let’s continue the conversation…

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Episode Transcript

Charlotte Newman: Have you just started trading and are not sure where to start? Or have you been trading for a while and has hit a bit of a rut you want to get out of mindset is incredibly important for trading and can be the difference between success or not. However, understanding this and being able to take a step back isn’t as easy without some tools to help you. In this episode, I am handing over the reins to my wonderful colleague Caroline Ward who has a very exciting guest with her to talk about this topic in more detail. I will let her make the introductions later. Hello, I’m Charlotte and you’re listening to let’s Get Down to Business, a podcast by a fourg chartered accountants. We are an advisory and accounting practice based in Kent with over 25 years of consistent growth. Today we are hearing from our team over at Accountants Traders, who are a sister company of Afour G. They offer specialist expertise in accounting for traders and their unique circumstances which differ from the traditional business owner. Before we get started, I just wanted to remind you all of our pre year end personal tax and wealth review. This is a short meeting we held just before your year end to review your personal tax position, plan ahead for the coming year, as well as looking at your wealth, protection of future finance, planning to ensure you are getting the most of your hard earned cash and support you in achieving your financial goals. Right, Caroline, please get us started with today’s episode.

Caroline Ward: Thank you very much Charlotte. I’m very much looking forward to hosting our podcast today and talking to Ross Maxwell from Key Zone Traders Limited. So Ross is one of our clients that we’ve been working with for a couple of years now and I’d like to introduce you to him. So Ross, do you want to start off by telling our listeners a little bit about yourself?

Ross Maxwell: Yeah, sure. Hi Karen. First of all, thanks for having me as a guest on your podcast. It’s an honor to be here. So yeah, my name is Ross Maxwell, I am a professional trader, full time trader and the founder of a company called Key Zone Traders, which is an online trading education company. Father of twins, living Kent and just set up the company a couple of years ago to follow my passion, which is trading. I have a background of working in trading my whole life. I left school in sort of 2001 and went straight into the financial markets from there, working in London and Hong Kong, trading South African ex derivatives. Sorry, how did you find that?

Caroline Ward: Working in sort of big trading houses?

Ross Maxwell: Yeah, to be honest, it was something I wanted to do and I was very passionate about from when I was at school. So I really enjoyed it initially, certainly all the time that I spent there and obviously it gave me the opportunity as well, to move to Hong Kong and experience like a different culture, different lifestyle. You get a real energy from that environment. It’s not quite the same as it was that you saw in the movies and stuff, with all the pits and everyone running around screaming at each other, but there’s still like a real high energy in the room when you’re in that environment.

Caroline Ward: Yes. Very different to trading on your own, I should imagine.

Ross Maxwell: Yeah, very different. You don’t have like I said, there’s a real energy. It’s obviously quite a maledominated industry still, so yeah, it’s quite high energy. It can be quiet in your face, but you can feed off that energy as well. Whereas obviously, as a trader on your own, it’s just you and a computer screen, which is one thing why it’s really important to have a community around you when you’re trading. And people, even if it’s just talking to virtually just to have that camaraderie and that dialogue to rationalize yourself with.

Caroline Ward: Yeah, of course. Now, I always thought traders were quite secretive and didn’t really share. I mean, I suppose you’d keep your strategies to yourself, but you build a rapport with people that you’re working with and that also associates just to provide support for everybody.

Ross Maxwell: Yeah, I think so. Generally speaking, what you do is my strategies are such a not my biggest secret, I guess. But generally speaking, what happens is you build a community or a group of people that you trade with. You generally find the traders that have similar ideas, similar theories yourself, similar styles of trading to yourself, similar strategies that you’re using and stuff like that. So it’s like to use analogies. It’d be like carpenters working with other carpenters, rather than a carpenter working with a bricklayer, for example. Although you’re in the construction industry, you have different skill sets, and it’d be the same in sort of like a traders group, you find traders that have very similar styles to yourself to build that network in that group with.

Caroline Ward: Yes. It’s probably a good forum to share ideas as well, isn’t it?

Ross Maxwell: Yeah. And especially when you’re going through maybe a drawdown period or something like that, having that group to support and be that rational voice. Sometimes that rational voice over the top of you is really, really helpful.

Caroline Ward: Yes. Sorry, Ross, do you mind just explaining what you mean by draw down period?

Ross Maxwell: Sure. So draw down period is obviously, as a trader, you cannot win every trade. That’s a statistical improbability. Impossibility. Almost, I would say. So a drawdown period is sort of like a period of losing trade that you have. So obviously trading, as I say, it’s a game of probabilities where you have winners and you have losers. And your drawdown period is sort of like that period whereby you’re going through a series of losses on your account overall.

Caroline Ward: Yes. And that’s quite a hard period of time to go through, isn’t it. That’s quite a tough experience with lots of pressure.

Ross Maxwell: Yes, exactly. I think that’s where a lot of traders actually fall down as well. Because obviously, as human beings, it’s not in our nature to necessarily go through that drawdown period or go through a period where we’re actually going to work and not just not making money, we’re actually losing money. So because we’re sort of like society teaches us to have that nine to 550 salary, et cetera, trading is very much not like that. It takes people outside their comfort zone, which is a big reason that a lot of people struggle emotionally when they start trading.

Caroline Ward: Yes, and I suppose it’s the mindset of chasing losses as well, isn’t it? I think as soon as you get on that train of making losses and allow your emotions to take over, because you’re obviously the pressure about worrying about mortgages and family life and all of those sorts of things, it has a really big impact on your trading, doesn’t it? Yes, exactly.

Ross Maxwell: And that’s where, again, one of the biggest obstacles for traders is not actually in their technical ability to trade as such, it’s in that mindset of being able to get in the right mindset for trading. So, as you say, it’s quite right. We all have mortgages to pay, we all have deals to pay, we all have families to fee. So it’s about getting the right structure in place as well to take some of that pressure off you. But like I say, some months you will make more than you’re expecting, some months you may lose money. And we’re not really conditioned to go to work for a whole month and maybe come out of it at the end of it without having made any money and sometimes even losing it. So, yeah, it’s about putting a structure in place so you don’t feel that pressure, but also working on the mindset to make sure that you give yourself the best chance to react and make the decisions in the right manner, rather than making them from an emotional point of view.

Caroline Ward: Yeah. So what would be key for anybody that was looking to move into financial trading? What’s key to them getting the right mindset to be successful?

Ross Maxwell: I think a lot of it is to have the right approach to trading. I think one of the biggest issues that I find certainly from teaching and coaching new traders, is that what generally happens is they have the idea that they want to trade. And this is fueled quite a lot by the social media and the crypto currencies and stuff, where you’ve got people telling you that trading is easy and you can make a lot of money trading. So they fund an account with live money when they don’t actually already have the skills to actually start trading. It would be like to take it back to the analogy of a carpenter or something. It would be like me sitting there saying, I want to be a carpenter tomorrow, I’m going to go and pitch that roof. I would not be able to do that in a million years because I don’t have the skills necessary to do that. I don’t even have the skills to do sort of a more basic form of carpentry, like hanging a door or anything like that. So why do I think I should be able to go and do that? I think people are misguided into thinking that they can start trading straight away. And what happens is they fund an account with live money, they don’t have the skills, they start losing money and emotionally that’s very difficult to accept and then they actually compound those losses. So I think certainly initially it’s about having the right approach to trading and making sure that you have built some foundational skills before you actually start committing lifeline to the market. I mean, mindset and trading is a whole other massive topic and it’s part of my courses. I actually have whole sections dedicated to mindset. But certainly I think from an initial point of view, I think coming into it with the right approach is key.

Caroline Ward: Yes. And it’s not trading with your emotions, is it? I think, and in my experience, it’s when you talk to people, actually it’s understanding that actually it’s quite disciplined. It needs to be quite strict with how you approach it sometimes because sometimes you do just have to walk away from it, don’t you? Because you know that you’re going down that road where your emotions are taking over and actually that’s where it’s dangerous now.

Ross Maxwell: Yeah, exactly, you’re right as well. So what generally speaking happens is, without going into too much detail, people allow their emotions to hijack their decision making. And you’re right, discipline is one of the key skills and traits that you need to build as a trader. You have like a trading plan and you also almost need to make trading boring. Like if trading is boring, then you’re doing it right because if you’re getting that adrenaline rush and stuff like that, then that’s what’s going to lead to the emotional issues and then the emotions will hijack your decision making and you have to always try and engage that deliberative, rational side of your brain to make those decisions. And one thing that I always try and get across the clients as well is it’s not just those losing streets where you’re feeling the emotions from losses that can be detrimental to your trading. Sometimes actually, if you have we all experience this, emotions are a natural part of us, but if you experience euphoria or like that adrenaline rush after a good trading result, you still have to have the ability and have built the skills to recognize that you’re feeling emotional and walk away from the screen before you react. I know even positive, what would be the positive emotions can have negative impacts on your trading. So it’s about developing the skills to identify when you’re feeling emotional so that you can take a step back to reengage with that rational side of yourself to go back into your trading.

Caroline Ward: It’s so interesting how the different side or different parts of our brain work as well. I’m currently reading the Tim Paradox, talking about the emotional, almost primate that we all have in our brains and then obviously the computer and the logical human and I mean, it’s fascinating read. I don’t know if you read business books and things like that, but I.

Ross Maxwell: Read a lot of those actually. And I’ve actually read the chimpanzees. It’s a great book. There’s another one actually, for anyone who sort of like really wants to understand mindset and stuff and get into trading. It’s a book called Trade Mindfully. I think it’s like Gary Dayton and it talks a lot about the narrative side of your brain versus the intuitive side of your brain and how mindfulness can really help engage that rational thought process part of your brain to help you in your trading journey and stuff. It’s quite an intense read, but it’s a really good one if people are looking to improve that side of their trading mindset.

Caroline Ward: Yes. And you mentioned Mindfulness. Do you use that as a regular part of your day to help get the right mindset for trading?

Ross Maxwell: Yeah, 100%. It’s actually part of my trade plan that if I don’t complete my mindfulness practice before my trading session, I can’t actually trade in that session. Because one of the reasons that I left working in the city back in 2013 was because I started suffering from anxiety and stuff, like some minor anxiety in work. And I did some research into it. I looked at people around me as it’s quite well documented, like the industry that I was working is quite a low age burnout period. I looked at what I was doing and I didn’t want to be in that environment in 20 years time. So I took a step back and I looked at mindset and why I was experiencing that anxiety and that led me onto mindfulness. And it just happened that that then helped me with my training. It wasn’t the other way around. It was actually the anxiety that fueled the mindfulness and that led to helping me with my trading. When I left the city, I continued practicing mindfulness. And mindfulness is something that I have as part of my daily routine, as I said. And the reason it’s so important for me in the morning before I start trading is because it allows me to check in with myself and start working out where I am and how I’m feeling from an emotional point of view and recognizing which emotions I’m feeling. So I know whether I am in the right frame of mind to trade before I even step into the market. So I know whether there’s a high probability chance of me being emotionally affected in that session, or whether I’m trading in design, where I feel great and everything. And sometimes if you’ve got other things going on in your life and you can feel yourself in that mindfulness session before you actually even start trading, you can remove yourself from that trading session so you don’t make those mistakes and start acting on them. So it’s a really, really important part of my trading day, actually.

Caroline Ward: And that’s really interesting though. So actually, when you look at it, you feel that you’re not in the right place, you won’t trade.

Ross Maxwell: Exactly. If I feel that there’s something going on that makes me feel agitated or already on an edge or already quite emotional, then if I recognize that before I start trading, I can actually stop myself from going into that session before I actually start making those mistakes.

Caroline Ward: That’s quite challenging though, isn’t it? When you’ve got a young family and busy lives and things. Yeah.

Ross Maxwell: But another thing to come back to with that, with the mindset, obviously experience as well, really helps because the more experience you have, the more confident you becoming your own ability to recognize and the less emotional you become. The emotions are still there, but they have less of an impact on your actual decision making. They become dumb down a little bit, I guess. A little bit less effective.

Caroline Ward: Yeah. So obviously, you’ve clearly got many years of working in the financial sector and trading. But how do if somebody’s just starting out and is wondering what to do about courses and training, there are quite a few training providers out there, aren’t there? What does training and sort of investing in the course, what would it actually help provide to people?

Ross Maxwell: Yes, I think if you’re looking for training, education, I think it’s like anything we do in life, you learn it from someone else. Right. Pretty much everything we do in life, we learn from someone else. Even when we’re babies and we’re children, we’re learning everything from those around us. It trading is no different. Like, you need to try and learn off people that have been there, seen it, done it, got experience within, and have made those mistakes, have fallen down and can guide you. It’s like a mentorship type thing. So I think it’s really important to do your due diligence on a lot of these education providers as well. Like a lot of the education providers, which is one of my Buddha’s, the industry is that they promote themselves and market themselves on selling the dream rather than maybe the reality of trading. And that’s not to put anyone off trading, because trading has been very beneficial and influential in my life. It’s just trying to make people understand realistic expectations of what can be achieved.

Caroline Ward: Like, not everyone’s going to be driving around in a Lamborghini, are they?

Ross Maxwell: No, exactly. What you don’t need to be driving around in a Lamborghini or flying off in private jets to have trading be a really positive impact on your life so it’s really just a case. Do your due diligence, try and also find someone that you can resonate with that you can connect with on a personal level because you need to trade. Trading can also be very, quite individual. There are many different styles of trading and you need to be able to find out what sort of style resonates with you. Some people really like the high pace, very quick thinking of sort of scalping and bay trading, whereas others need to have a bit more of a thought process and really rationalize and think about and plan every single trade for more mini term swing trading. Side. So it’s really trying to take it slowly. Make sure you do due diligence. Try and work out which style of trading is going to be right for you before you really start committing vast amounts of money to the courses and stuff that you’re getting involved in. Speak to the person. Make sure that the person is available to speak to before you sign up so that you can get that feeling with them to make sure it’s right for you as well.

Caroline Ward: Yes, of course. I know that you in particular, you offer a range of options, don’t you, for people? So different levels and just a series of courses that people can work through as they become more experienced, so they can sort of dip in and out effectively and learn as much as they need to. Could you help somebody that had been trading for a period of time and was maybe feeling a little bit struck or had had a bit of a streak of losses and was looking at how to improve things? Or do you find that it works better with people that are brand new and don’t have any trading experience?

Ross Maxwell: No. I’ve worked with a variety of traders from all levels of experience, from people who are just starting out right way through. One of the clients that I actually coached, he had been losing money for more than ten years in trading, more than we worked together. And I mean, it took a while, it still took. And this is why it’s not sort of like a quick fix if you’ve got some bad habits. Obviously we need to work on changing those bad habits, which doesn’t happen overnight. But we’ve worked together for twelve to 18 months, and we were seeing slight progressions and stuff, but we still have these sort of slips, and it’s all to do with mindset. It has nothing to do with his technical ability to trade, but slip back and lose, like, vast amounts of money in just a couple of trades. And it was just about six months to a year ago, he sent me an email and he said, from the work that we’ve done together over that sort of twelve to 18 months, he had been profitable for consistently for another 18 to 24 months. And I’ve spoken to him recently and he’s still profitable. So we have to listen to that’s.

Caroline Ward: Really good to hear.

Ross Maxwell: Yeah, exactly. It’s just trying to focus on I mean if you’ve got those bad habits, what’s really important is to try and find that coach and mentor to identify those habits to work on. Because those it’s not necessarily like I said, it wasn’t with that client that I talked about, it wasn’t his technical ability to trade, it was to do with his mindset. So that’s where one to one mentorship, which is really important to really somebody’s trading and identify the issues. But as you say, I offer a range of courses. One thing that I wanted to do with Cleveland traders was offer people that route into trading even if it’s just an idea, without having to commit by sums of money. So again, going back to the industry, you’ve got people selling courses for thousands of pounds and they’re trying to get you in without any experience. But you may commit thousands of pounds to a course and think the trading is not really your cup of tea. You don’t really understand it or you don’t have it’s just not for you. You’ve already committed vast amounts of money. So my courses range from like three courses to give which are not going to teach people how to trade. Certainly it’s not going to teach you how to become a profitable trader, but it will just start getting people thinking about the things that I need to do to become a trader which involved and then I industry almost sorry, a.

Caroline Ward: Taster of the industry almost exactly.

Ross Maxwell: And like I said, just starting to get them used to thinking about the things that they need to and the idea of that approach that I was talking about that they need to take and setting those realistic expectations of what can be achieved. And then I offer other courses for people that don’t want to sit in front of the screens all day and just want to learn but teach people how to manage risk and why it’s so important to manage risk and how to calculate that risk. And then I have my sort of extensive online courses which really delves into mindset of strategy, et cetera, and offer group coaching. And then I obviously have my one to one mentorship as well, which is sort of like the flagship course for those people that really need help identifying where their problems are and like a bespoke or planner to get profitable again.

Caroline Ward: Yeah, I mean it takes a long time to undo a bad habit, doesn’t it?

Ross Maxwell: Yes, exactly. Generally speaking, it goes back to that thing that actually if you’re struggling with trading due to a bad habit, it’s not your technical ability to trade that’s the problem. It will be something to do with mindset, which is something there that we need to work on. I think a lot of traders, and there’s certainly a lot of retail traders one of the biggest issues is they often try and go from strategy to strategy, trying to look for something to improve, when actually it’s not a strategy that’s the issue. It’s something else, like something more mindset based or an approach that just needs tweaking or changing rather than the actual strategy.

Caroline Ward: Yeah, but just touching on strategy actually. So how do you go about developing a strategy that’s going to work well for your trading and how do you ensure you stick to it?

Ross Maxwell: Yeah, so again, it comes back to the mindset thing and the discipline. Again, I think as I just said, I think people often go from strategy to strategy but it’s also really important to stick at a strategy and master a strategy because all the strategies are taught online, they never teach you the context behind the strategy. So you need to actually put some work in and go on to and I use a lot of sports analogies in my training and stuff as well. And it’s like if you are an elite athlete, you spend a lot more time actually in the tactics rooms, on the training grounds, in the practice nets, on the courts, et cetera. Honing your skills to then go into like a game or match on like a competitive game which is actually a very small part of your thing. So if you’re really wanting to hone a strategy, find a strategy again that resonates with you. It goes back to that whole individual trader profile sort of thing but then go away and practice it and really make it your own practice in trading simulators, practice it on a demo account and really understand and learn the nuances of it. Rather than going from strategy to strategy, trying to learn new strategies all the time, actually really focus on one, put the effort to really understand and work out those differences. To make that strategy successful for you, you need to back session, you need to practice, you need time, et cetera. And then you’ll see the benefits of that over time.

Caroline Ward: Yes, it really is quite an investment, isn’t it? In time and learning to get it right.

Ross Maxwell: Certainly if you want to take it on as a full time career or certainly if you want to learn to make those independent trading decisions yourself, that will take some time because you’ve got to develop the skills like pattern recognition skills, risk management skills, mindset skills, emotional skills, all these things that you need to develop. So that does take time and I think as I said, it’s really important to have the right approach and have that longer term. I do offer courses for people that don’t want to sit in front of the screens and really learn all that technical ability like the technical analysis or find the charts a little bit too much, but still want to take advantage of trading. And I can offer courses for that so that they understand the risks and how to calculate risk, but they don’t have to delve deep into the technical side of trading as well.

Caroline Ward: Okay, interesting. And can you help people with trading in all different areas? I mean, for example, cryptocurrency is such a huge, booming industry at the moment, isn’t it? Almost every other article you see on the news is about cryptocurrency at the moment. What are your thoughts about cryptos?

Ross Maxwell: Yeah, my courses and stuff agenda, certainly my higher end courses, are to teach people the skills that are transferable across all sorts of assets, all different types of trading. My own trading is based around FX and index trading mainly. I do a little bit of oil and gold, but 95% to 99% is based on sort of like, footsie back and FX pairs. My thoughts on cryptocurrency are I’ve never ever traded it. I don’t ever really see myself trading at the moment. I don’t understand what really drives the market apart from sentiment. I think it’s a very sentiment driven market, so I don’t understand what drives it fundamentally, which is why I stick to what I know and what I’ve been experiencing, which is like equity, derivatives, effects, that sort of thing, is what I’ve been involved in for more than 20 years now. So that’s what I understand. I think it scares me a little bit how many people, professor, the experts with cryptocurrency when they haven’t necessarily traded any other asset classes, they haven’t traded anything else, and they’ve ridden the wave of this sort of euphoric rise of cryptocurrency. But I’ve got a lot of people that I know, that I respect that have traded for a long time, and they’re quite well read on cryptocurrencies. They believe in it. I just have my concerns. I’m a very risk focused trader and something that can be so volatile that it loses 40% of its value on the back of an Elon Musk tweet. That’s not something that I really want to be part of. If something can be affected that much by something so small, that rings alarm bells for me from a risk perspective.

Caroline Ward: Yeah, definitely. We’ve had clients speaking to us because they’ve been trying to get money through the banking system, so they take money out of cryptocurrency into sterling because they want to use it to invest in something. And by the time they’ve got it through the banking system, it’s worth significantly less than it was when they started the process. So they end up sort of stuck because it’s just so volatile, isn’t it?

Ross Maxwell: Yeah, I think the other thing that concerns me with cryptocurrencies, as I say, I’m not extremely well read, and it’s not my area of expertise by any stretch. But the thing that concerns me as well is there’s nothing really tangible behind bitcoin, and it’s sort. Of like it’s an internet digital currency. Whereas if you invest in the stock market, say, for example, you invested in John Lewis or something like that, even if that company really struggled and had really bad financial finances, they still have assets that are of value, they still have real estate, they still have products and services that they offer which have a value. Whereas I can’t see that with cryptocurrencies, it’s a digital currency that doesn’t have any underlying asset of value. So I’m not extremely well read on it, but there’s just too many things that bring alarm bells to me from a risk perspective.

Caroline Ward: Yeah, I certainly don’t think we’re ready for a society based entirely on cryptocurrency.

Ross Maxwell: Dangerous and difficult, I think.

Caroline Ward: Yes. So I think we’re sort of getting to a point where we’re going to wrap up shortly. But what do you think you need to do consistently to be successful? As a trainer, I think it’s quite clear that there’s some really good approaches that you need to take with sort of mindset and mindfulness and just sticking to a strategy. But is there anything particular that you can think of that our traders need to be doing consistently to make sure that they are successful?

Ross Maxwell: Yes, I think the main thing and it’s just like, it really delves around everything that we’ve spoken about as well and it’s create that plan that you have that gives you the edge in the market and then you just need to stick with that plan almost. It sounds very easy, and it’s a lot easier said than done. But I think the biggest thing that I’ve always found from certainly my career and what made me successful and also speaking to other successful traders, is that they have a really strong understanding of the risks involved in trading. So they never really put their trading careers at risk because they’re always managing that risk. So come up with a sensible strategy, come up with a sensible risk appetite as well. So risk a certain amount per trade and not going to put too much of your account at risk. So even when you go through those inevitable drawdown periods, emotionally, you’re still able to sit there and go and back and trade the following day and not become too emotional. If you’re becoming too emotional through your drawdown periods, then you’re probably risk over risking. But I think the most important thing for me, I guess, obviously you have to do all those other processes. You have to have the right approach, you have to have the right mindset, you need to do the right things, consistently accept it also really boils down to that risk factor in having a sensible amount that you risk on each of your trades. Keep that consistent because we have to allow the edge to play up. Have it in your trade plan and follow that plan. Really have it all written down so you’ve got your set of ground rules. You’ve got your rules in place and they then become sort of like a subconscious skill that just become part of you. It builds that habit, basically, that we were speaking about earlier. The more you do that, the more it builds that habit and the good habits to build in.

Caroline Ward: Yeah, I think the psychology of financial trading is so interesting. I think I could talk to you all day, Ross.

Ross Maxwell: I really thought all day about it as well. Often overlooked by a lot of education providers as well is the mindset thing. I think a lot of traders, obviously they’re experts in their field and they’re doing this mindset thing. But I think maybe they underestimate the importance of it because it comes naturally to them. It’s part of their subconscious, so it’s a natural thing to them. So they maybe don’t necessarily understand the struggles that other people have with it. But I think it’s a really, really important part. And as I say, from I’ve been coaching and training traders now for over five years and I’ve taught people right across the globe from all different levels of experience and the majority of the time it comes down to the approach and mindset, which is the biggest issue, rather than like a technical ability to trade.

Caroline Ward: Yes, it’s fascinating. So thank you for joining me today, Ross. That’s been really helpful to have that discussion with you. And if any of our listeners would like to get in touch to have a chat with you about your courses, can they reach you through what was the best channel for them to reach you through?

Ross Maxwell: Yeah, I’m more than happy. First of all, thanks again for having me, being a real pleasure to be on here. But, yeah, if anyone wants to have a chat about trading, as I say, I can talk about it all day. I’m more than happy to speak to anyone that is either looking to sell it, to learn to trade, or already trading and wants to look for different avenues or even struggling with their trading. My website is and my email address is I’m more than happy to talk to anyone that won’t wish to reach out.

Caroline Ward: That’s brilliant. Thank you very much, Ross. Thank you for joining me.

Charlotte Newman: Wow, what an amazing episode. Thank you so much to both Ross and Caroline for sharing your insights. I think the key thing to take away here is that mindset is important in any type of business and traders are no different. Get that right and you are on the road to your desired success. Don’t forget to head over to www Counterstraders Co UK to find out more about how we can help you with your trading business needs. Please also check out Roth’s website,, where you can get educated on everything you need to create long term success in the markets. Thank you for listening today. I hope you enjoyed the episode we are a forg and you can find us on Facebook, Twitter and LinkedIn at g chartered accountants. Alternatively, check out our website www a four Gyphenolp dot co UK for lots more tools, advice, guidance and all of our sister companies to help you with whatever need or want you have for your business.