Aug 29, 2012
Michael Covel talks to Charles Faulkner, a trader, mentor and author who has been featured in Jack Schwager's "Market Wizards" series. Faulkner is an international expert on modeling the knowledge and performance of exceptional individuals, teams and organizations, and applying the latest research in cognitive neuroscience and linguistics. Faulkner discusses his upcoming book, "Higher Level Trading: The Five Stages to Trader and Investor Mastery". Covel and Faulkner talk in detail about Faulkner's idea of "system one" and "system two" - a dual-process theory of how the brain works - and how it relates to trading. They connect trading with topics as neuroscience and behavioral finance. Further topics include herding, bubbles, and panics and how they relate to "mirror neurons", group think, and sheep behavior; the idea of making sense of the world through our bodies (and how this might be relevant to trading); neurolinguistics (the relationship between the neurology of the brain and the language we use); how our brains crave stories (and how we have to be careful how we use them); and the importance of using money to buy experiences over objects. Note: This is Faulkner's 2nd appearance on the podcast. Special Offer: receive free DVD delivered to your home or office: www.trendfollowing.com/win.