About this episode

Brent Donnelly discusses the importance of independent thinking in trading and the psychological factors that influence market behavior.

Markets reward independent thinking, but only if you can avoid the traps that come with it. This week, Brent Donnelly, President of Spectra Markets and author of Trade Outside the Box, joins us to discuss how psychology, risk management, and market narratives shape successful trading. We explore poker's lessons for traders, AI's role in markets, Kevin Warsh's Fed, the dollar and yen, and why predicting people may matter more than predicting macro. Enjoy! TIMESTAMPS: 00:00 Intro 02:00 Trading Outside The Box 06:38 Trading Psychology And Risk 12:46 AI As A Trading Tool 19:33 How LLMs Shape Markets 25:19 Kevin Warsh And The New Fed 33:37 The Yen Intervention Playbook 41:40 Is Government Debt Sustainable? 43:00 Has Bitcoin Lost Its Narrative? FOLLOW BRENT › X/Twitter – https://x.com/donnelly_brent › Spectra Markets – https://www.spectramarkets.com/am-fx/ › Trade Outside The Box – https://a.co/d/0i4r9Udd FOLLOW THE SHOW › Forward Guidance – https://x.com/ForwardGuidance › Felix – https://x.com/fejau_inc › Telegram – https://t.me/+CAoZQpC-i6BjYTEx › Blockworks – https://x.com/Blockworks EVENTS › Join us at Digital Asset Summit 2026 Asia October 7th & Digital Asset 2026 London November…

People in this episode

Host: Felix

Guest: Brent Donnelly

Topics covered

• trading psychology
• risk management
• market narratives
• AI in trading
• Federal Reserve
• currency intervention
• Bitcoin narrative

Keywords

• trading
• psychology
• risk management
• AI
• Federal Reserve
• dollar
• yen
• Bitcoin

Mentioned in this episode

Organizations: Spectra Markets, Blockworks

Products: Trade Outside the Box

More episodes of Forward Guidance

• The AI Unwind Is Forcing A Historic Market Rotation | Weekly Roundup · July 17, 2026 · 54 min
• The AI Trade Is Finally Cracking | Weekly Roundup · July 3, 2026 · 47 min
• How To Trade The New Warsh Fed | Bob Sheehan · June 29, 2026 · 45 min
• Is The Fed Panic Already Fading? | Weekly Roundup · June 26, 2026 · 60 min
• A New Era Is Beginning In Markets | Weekly Roundup · June 19, 2026 · 1h 4m
• The Warsh Fed Will Look Nothing Like Before | Joseph Wang · June 17, 2026 · 40 min

Explore listener stats, chart rankings, contacts and more on the Forward Guidance podcast page.