Painting the Tape – Episode 15: Adapting to Change

Hosts: Leo, AJ, Stowe

[00:00] Introduction & Banter
Meet the hosts as they return after a long break, joke about “final episodes,” and catch up on what’s changed since their last recording—including new streaming ventures and the evolution of their trading routines.

[03:00] Streaming, Community, and Trading in Public
Stowe discusses his experience streaming order flow, the challenges of trading on camera, and the camaraderie of connecting with other traders online. The group reflects on the value of transparency and learning from each other.

[07:00] Life Updates & Adjusting Trading Styles
AJ shares how a busier schedule has forced him to focus on fewer, higher-quality trades, and how this has improved his discipline. The hosts talk about adapting to new routines and the benefits of trading less during volatile times.

[10:00] Market Volatility & The Dangers of Bias
The team discusses recent high-volatility events, including “fake news” market moves, and how easy it is to get caught on the wrong side. They share stories about being “faded” by their own sentiment and the importance of staying flexible.

[18:00] Adapting to Changing Market Conditions
Leo and Stowe break down how they adjust position sizing, stops, and chart setups as volatility expands and contracts. They discuss the psychological challenges of recalibrating risk and expectations, and the need to constantly reassess market context.

[25:00] Thin Books, Order Flow, and Headline Risk
The conversation turns to the impact of thin order books, how to read the depth of market (DOM), and why low liquidity can lead to wild price swings. The hosts share tips for surviving “toothy” markets and the importance of knowing when to size up or down.

[32:00] Relative Volume, Stats, and Market Structure
They debate the usefulness of stats like overnight highs/lows and relative volume, and how context is everything. The group emphasizes the danger of overfitting strategies to rare events and the importance of not chasing “home runs” during extreme volatility.

[40:00] Adapting Mindset & Avoiding Overreaction
The hosts reflect on the temptation to overhaul trading systems after big market moves, and why most traders are better off sticking to their process and sizing down. They discuss the value of learning from wild markets without letting them dictate future strategy.

[48:00] Closing Thoughts & The Future of the Show
The episode wraps up with a candid discussion about whether this is the “final” episode, the joys and frustrations of podcasting, and a heartfelt thank you to listeners. The hosts leave the door open for future episodes—or a cliffhanger ending.