How do you know whether a losing trade came from a bad decision, or simply a good process with a bad outcome?
In Episode 7 of Markets and Mindsets, Paul and Emma are joined by Tony, a newer trader focused mainly on gold and EUR/USD, to explore one of the easiest habits for traders to fall into: overtrading.
The conversation examines “resulting” - judging the quality of a decision purely by its outcome - and why one winning or losing trade is rarely enough to tell you whether your process is working. The team share practical ways to slow down decision-making, build a repeatable routine and judge trades over a meaningful sample rather than reacting to one result.
They also discuss position sizing, acceptance, backtesting and why both full-time and part-time traders benefit from having a clear process before pressing the buy button.
In this episode:
- Why overtrading can affect traders at every stage of their journey
- What “resulting” means and why outcomes can distort your judgement
- The difference between a good process with a bad outcome and a bad process with a good outcome
- Why one trade is not enough evidence to judge a strategy
- How writing down your reasons for entering a trade improves discipline
- Why a repeatable process is essential for consistent results
- How routines can help both full-time and part-time traders slow down emotional decisions
- Why position sizing should reflect your tolerance for losses and uncertainty
- How smaller trades can help rebuild confidence while testing a strategy
- Why acceptance often comes with time, perspective and distance from the trade
Chapters:
00:00 – Introduction: The Overtrading Trap
01:15 – Meet Tony: Trading Gold and EUR/USD
01:57 – When a Bad Outcome Doesn’t Mean a Bad Trade
02:21 – Understanding “Resulting”
04:10 – Why Your Trading Process Should Be Written Down
05:21 – Following the Plan and Accepting the Outcome
07:20 – Building Confidence Through a Repeatable Process
09:42 – Trading Plans, Routines and Atomic Habits
10:40 – Judge the Process Over a Series of Trades
13:05 – Position Sizing and Emotional Tolerance
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Capital at risk. The value of investments can go down as well as up, and you may get back less than you originally invested. This podcast is for educational purposes only and should not be considered investment advice.
What is Markets and Mindsets?
Markets & Mindsets. Most trading content is about charts and setups. Markets & Mindsets is about something more important: you.
Hosted by Isar Bhattacharjee, Paul Cooper & Emma Binns: this is the podcast that flips the lens from the trade to the trader. Each week, real traders and investors join as guests, send voice notes, or call in to unpack the psychological side of the markets: the confidence, discipline, and mindset that actually separate consistent performers from everyone else.
Boredom trades. Revenge trading. FOMO. Overtrading. Sticking to a plan when everything in you wants to break it. These are the conversations most trading content skips and the ones that make the biggest difference to long-term success. No jargon. No shame. Just honest, direct conversation about the mental game of trading and investing. The hosts share practical ways to trade smarter, safer, and with a better relationship to the markets. New episodes every Monday and Wednesday.