 Let's get it. Today we've got a jam-packed episode, you know, mobile phones didn't exist, computers didn't really exist, you know, so the internet didn't exist actually, God, that's how ancient I am. And I'm looking at this massive head and shoulders pattern just before the global financial crisis, so I'm saying to Deutsche Bank and these companies, guys, I don't really understand why and maybe you can explain to me why, but it looks like it's going to be a phenomenal stock market crash. Everyone thinks about trading being stressful when you lose money, but trading is actually stressful when you're winning. Well, I think investing and dating have a bit of a parallel in that they both require a kind of a process that works for you as an individual. How can I do day-to-day processes around this, which I'm going to find enjoyment in anyway, even if I'm not on my ultimate goal yet? You need to take a risk. There needs to be some element of risk, so it's just about taking one step further in your comfort level to expose yourself to new experiences. Welcome back to the T-Show. We're on episode three, where it's time to trade thoughts. I'm Poki Banks, your T-Guy. And I'm your second co-host, second T-Guy Gabriel. Let's get it. Today we've got a jam-packed episode. We've got many guests flanning from all over the globe, starting with Jason Sen, coming all the way from Thailand, who has 35 years of experience trading the markets, who even started back in the 80s, which will be great to learn from. What else we've got going on? Well, next up, we're going to get some financial news from Polisti, as always. And then Hailey Quinn is going to be joining us in the studio. Now, she is the top UK dating coach. We're going to find some links between dating and finance. And you never know, Poki might learn a few things to lock down a girl, finally. No, no. There's a girl that comes in. What about a man, Jin? There we go. There we go. Anyway, it's going to be a great episode, isn't it? Definitely. It will be. So hopefully we'll see you there where it's time to trade thoughts with Jason Sen. Yeah. So when it comes to the tea show, we make sure to bring you the best guess of as much experience as possible to make sure you can learn and take it a player elsewhere. Today, we've got Jason Sen with over 35 years of experience, which then means you're trading way before I was even born. Yeah. I'm a young one, but I'm sure I was. That means that's 80s, 90s. What was that trading in such a time period? Well, obviously completely different. And mobile phones didn't exist. Computers didn't really exist. So the internet didn't exist, actually. God, that's how ancient I am. So I started in 1987. I was 19 years old. One of I just wanted to get into the city. I basically just wanted to make money. I didn't fully understand what financial markets were, if I'm honest with you. But my dad had traded, so I had some sort of understanding that existed. And I thought, right, you know, well, I want to make some money. And it sounds exciting. So I want to go there. So in those days, you send off your CV with your, you know, your own level results. And I was lucky enough to get a job with a bank. And I turned up on the first day in my suit. And I didn't know what to expect the next day. I sat there for an hour and then they said, right, okay, follow us. And we walked across London Bridge. And the next thing on the stock exchange floor, I was like, wow, so it's quite blown away. That means then, so would you say back then to even get involved, you had to know someone that was already doing it. It wasn't easily accessible. It wasn't. Yeah, that's actually a really good point. That's true. And actually, that's, yeah, I didn't think about that. Because now, of course, anyone can trade. You literally just need a mobile phone and 500 quid or, you know, you can open an account and off you go. So that's actually a really good point. Yeah. One thing I wanted to ask you is that we heard the term analog trading. That was maybe how it was done in the 80s and 90s. What is analog trading? Well, it was an analog world, you know, the digital world didn't exist, really. So, I mean, trading, I joined, I went from the stock exchange, which I had an options trading market, which was quite new. So there was a derivatives market and I learned about options there, but it was quite small. And so to progress, really, to the London International Financial Future Exchange, as a mouthful, that was a very serious open outcry market based on the ones that they had in Chicago. And so, it was so analog that you would stand in a hexagonal pit and shout at people in order to execute a trade. And when you executed the trade, you wrote it on a piece of card and flicked it to your clerk who would be standing around the edge and he'd run off and then put input into the exchange system so that the trade could be matched with the counterparty. So, it was all done with hand signals. So, you would do the contracts on the face and the price out here. So, if you wanted to pay, you know, 25 for 52 contracts, then that's how you signaled to the guy. Because with everyone standing in a pit shouting, you know, I couldn't have this conversation with you in a trading pit. Everyone is shouting. You've got brokers all around the edge trying to execute orders on behalf of their clients. So, this is the way it worked. There would be booths, phone booths all around the edge of the pits. And then in the middle of the room, there would be hexagonal pits where various different products were traded. So, the guys on the phone with the brokers, they might be on the phone to banks and hedge funds. So, the banks might, for example, want to sell 100 boons, which is a German bond contract. So, they would phone down to the floor. The guy in the booth would be like, okay, he'd give them the price. So, he'd ask the broker on the edge of the pit, what's the size of the bond? That meant size. And so, you know, let's say it was 23, 223, for example. He'd be like 23, 23, 233. And he'd be like size, he'd be like bid on 200 and 500 and offered in 500. That was the size when your arm. So, you just couldn't shout. So, this guy would go on the phone, he'd be like, okay, it's 223, bid for, you know, 200 offered in 500. And he might say, well, buy 400. So, he'd go, hey, 400. So, guy on the edge of the pit would then be like, buy 100, buy 100, buy 100, buy 100. From, let's say he traded with four different people. You had to split the order up. He didn't normally trade with one person. So, then the trader in the middle, which would be someone like me, I would be the market maker. We'd be like, okay, I'll sell you 100. And then I'd write down sold 100. And then I'd give my card to my clerk. He would give his card to his clerk. And then he would all match stuff on the internal computer system. So, that was analog trading. I feel like we need a moment to compress, don't we? Yeah. But I was watching his face a little bit and it was just like, just, I'll tell you what's funny, I still can do the handshake. That's the thing that we were loving. Honestly. Yeah. Like, I didn't know I could do that because I've not done that. It was like watching someone speaking sign language. Yeah. Yeah. It was your own sign language. It was like a tic-tac system. Like, if you go to the race courses, you see that. And I don't understand that system at all. It's a completely probably saying that. Well, when I first went on the floor, and all these really aggressive guys in these trading jackets, sleeves rolled up, shouting, waving hands over, wow, I've done never do this. And it's not like you walk into a trading pit and they go, oh, hi, you knew, come in, you know, see if you could make some money. I mean, they want to destroy you. You know, you're in, you're out. They're out to make money, not friends. So it really is incredibly intimidating. And I just wanted to also ask, so leading up to even the millennium, so 2000, you know, there's the dot combo bubble. Was you ever like interested or involved in that rise up of stocks and instant stock? I wasn't really involved in the stock market. So on the trading floor, on life, I was, it was most, I traded fixed interest fixed income. So I was actually a short sterling trader, three month, three month money, three month interest rates in the UK. So I was, I was sort of more, yeah, more involved in interest rates of stocks. I was obviously aware of the internet bubble, but it didn't really, but I did get into the stock markets a little bit more when I got into technical analysis. So when I launched that business in 2007 and thinking I was experienced, because I looked at charts for a year and really I wasn't at all. But it was, it was quite, you know, relatively new thing and retail trading hadn't really, we wouldn't say I'd really got going. So in even banks, so I managed to get clients, Deutsche Bank, Morgan Stanley, Merrill Lynch, big companies like that who wanted my daily analysis. And I was really surprised because they had their own departments, but I guess they weren't catering to whatever their needs were. And so now in 2007, 2007, 2008, I'm providing these reports and they did want my stock markets. And I'm looking at this massive head and shoulders pattern just before the global financial crisis. So I'm saying to Deutsche Bank and these companies, guys, I don't really understand why and maybe you can explain to me why, but it looks like it's going to be a phenomenal stock market crash, according to this pattern. They were like, no, actually, we're not, we're not, that's not what the bank is projecting. I was like, okay, well, I don't know, I just want to warn you guys because it does look like we're going to have a crash. And then it started to happen. I was like, guys, this group of the crash is coming. We were like, really? And you know, obviously it did unfold. And then they were like, wow, thank you so much. I think they all did quite well. So you mentioned that you'll see, you'll see the heads and shoulders pattern leading up to the 2008 crisis. Where was you seeing that? And how was you feeling? Because I could imagine that's the first, one of the biggest global financial crisis you've been involved in and actively trading by yourself. So how was that whole process of your psychology, having to tell a big bank, oh, you may be wrong type of thing? Yeah, it was quite difficult because they only just started technical analysis. So some upstart thinking, so he's some expert trying to tell a bank that there's going to be a stock market crash. You kind of feel a bit silly. Okay, so a head and shoulders pattern, if anyone who doesn't understand it, when a market is in a bull trend, you're seeing a series of higher highs and higher lows. And it's just a nice clear zigzag up trend. When that trend potentially changes, of course, you might start seeing a series of lower lows and lower highs. So basically, all a head and shoulders pattern is a label for that change in trend that helps traders because it's got a label that helps traders identify it. So a head and shoulders pattern really is a typical new high, followed by a new, a new higher high and then a new higher low on the pullback. Fine, we're in a bull trend, everybody's happy. Then the market goes up, makes a new peak, bulls are happy, the longs of making money. Then the market has a setback that is deeper than would be expected in a bull trend. It may not be a lower low, but it may, for example, match the previous low or come close to it. And it's just a deeper setback. Again, no alarm bells ringing, that's quite normal. It could just be a consolidation pattern that's sideways. But then you get a run up again, as you would expect, but now you get a lower peak. So the alarm bells are ringing, but still the pattern hasn't completed. You draw at the neckline of the head and shoulders, which is the two lows. When that breaks, that pattern basically identifies the fact that we could have a trend change. It's not 100% foolproof. It does fail. But if the pattern plays out, then you come down and then you start making a series of lower lows and lower highs, you've got to get a trend. It's a reversal pattern. There are different patterns. So there's a reversal patterns indicate the fact that the trend is going to change and reverse. Consolidation patterns just mean that the market's probably just going to trade sideways, and eventually you don't know when the bull trend will resume. So continuation patterns and reversal patterns. So I was seeing this potential pattern. And then when it broke the neckline, I said, guys, you know, that we've just had the completion of this pattern, and it just does indicate a bit. The size of the pattern is also important. So this pattern was built up over many months. So it was really significant. So I don't know if you know this, but short term, if you see that on a five minute chart, it's no big deal. Not that many people are seeing it for a start because how many people study five minute charts, so you're not going to get a big reaction of it. So the more longer term the chart for me, the more important the pattern or the candle formation, the more significant it is. So when I'm seeing this on a weekly chart, this big pattern build, build, build for months, I'm like, wow, if this actually plays out, it's going to be really significant. Where was you seeing it? Like what pair or what card? It was, oh, sorry, it was on the S&P. Oh, wow. I would imagine it would have played out on the Nasdaq and the Dow Jones as well, but I just remember looking at the S&P and seeing it. Yeah. I wanted to ask them, so what would you say you prefer more than trading with, you know, the banks or their funds or when you switch to technical analysis and doing your own personal trading up? What would you say you prefer? I couldn't do the floor now. I'm too old. You know, you've got to be, it's a young man's game. It's, you know, you've got to be razor sharp, really quick, quick with your maths. And also just physically, you have to stand up all day. So, you know, we'd been at eight, whatever, finish at four, and you can't, there's no seats in the pit. You're standing up all day long. So I couldn't do that anymore. So for me, screen trading is nice. We used to say on the floor, you know, one day we'll all be, we'll be doing, we knew the digital revolution was coming. And it was like, well, we'll all be, you know, in 20 years time, we'll all be sitting on beaches trading. We didn't know that smartphones would exist. We thought we'd have like a laptop on the beach. We used to like joke about it. And of course, that is the real, real deal now. And then, so when it comes to risk management, that you now have for your own personal trading, you mentioned, you know, risk 1% per trade. Is that, you know, swing trading that take a long positions or is it day trading? Again, I'm quite lazy. So I don't, I'm not a scalper. I don't want to sit in front of a screen or day. I'm 55. I've been doing it 35 years. I don't want, I want to have some sort of life and I've got other businesses. So I've developed a strategy which I kind of call set and forget. And for my subscribers, it works too because most of them have a job or a business. They're not full-time traders. So I'll get up in the morning and I'll look at the charts for maybe two hours. I'll try and identify trades where I can risk 25 pips, 30 pips. I'm a trend follower. So the ideal setup would be, oh, we're in a bull trend, you know, like the dollars in the bull trend right now. So I'll look at a dollar pair. And I'll, I'll, I'll wait. I'll hope for a pullback. I'll stick all my fib lines on and my trend lines and my moving averages. And I'll say, okay, that looks like an area of confluence where I think I would be prepared to enter a long position. It looks like a low risk opportunity. I could put my stop here, which is a relatively small stop. And if I'm right in the bull trend resumes, you know, these are my targets I can get to our three hour of this trade. And I will just enter the order and leave it. I won't sit and watch it because if you, if I watch, I'm like, we're not going to quite get there. I'll get in too early. It's the whole FOMO thing that takes over your psychology. And I'll just go off and do something else. I go to the gym or whatever. And hopefully I'll get executed on that trade. I might have like half a dozen trades which I'll enter. If two or three get executed, then I'm happy. Hopefully at least two of them are winners. Yeah. So it's all very, very simple really. If you're listening to this as a beginner, someone like myself, you've just gone and straight in with words like pips and fibs and lines. And if you were to translate that to someone that's never had trading before, how would you explain that morning routine to them? Okay. Yeah. Well, I'm lucky that I live in Thailand. So I'm up earlier than Europe. Most of my clients are in Europe. Well, I've been doing technical analysis for a very long time, 15 years. And I've tried everything. I've looked at all the different tools that you can have, Ichimoku Cloud and Bollinger Bands and all these things that you may or may not have heard of. And I've really narrowed it down because especially as I have a responsibility to my subscribers, I have to be consistent. You know, I have to try to find winning trades every single day. I may not want to trade, but I have to try and identify some lowest trades. So I've cut it right down. My technical analysis involves Fibonacci retracements, which is a Fibonacci sequence of numbers. It's very mathematical and I'm not mathematical, but anyone who wants to investigate, you can check it out online and there's very simple explanations. And I find Fibonacci retracement levels are very, very good tool. I combine that with trend lines. So that's just literally joining lows and highs on a chart to try and identify where traders are coming in. So for example, you've got a downward sloping trend line. It's showing that the market's in a downtrend and the market keeps peaking at lower points. So if a market is peaking and troughing at lower prices each time, I've identified a bear trend and that's something that I can use to trade. And I will be selling at resistance levels in a bear trend and I will be buying at support levels in a bull trend. And it's my job to identify reliable support and resistance levels in order to execute low risk trades. I mean, in terms of what you said about the way that you trade then, it sounds like you incorporated a lot of habits and actual lifestyle into what you're designing in terms of the way that you're patient with your trades. You're not sitting there clicking the whole time. A lot of discipline is in there. I assume the style has changed in terms of the way that you've traded from going back to the 80s to today. And like you also mentioned risk management. So in terms of your habits and the actual way that you interact your life, how have you built those disciplines? You know, everything I've done is through trial and error because I said earlier, there wasn't really many people that you could learn from or not weren't that many books that you could study from, you know, we were all kind of pioneers. So yeah, it was basically by making mistakes and I'm very ADHD. I'm impatient and I'm greedy and I'm all the things that I shouldn't be. So I had to, by losing, establish all these rules to stop myself jumping into early, make sure I'm patient, make sure I don't take too much risk, make sure I wait for a good opportunity, make sure I'm patient on the exit, scale out maybe in order to make sure. Yeah, because even when you, everyone thinks about trading means stressful when you lose money, but trading is actually stressful when you're winning because if I'm in a trade and I'm and it's working, I might be in here and my target might be here. But when we're here, I'm making a nice profit on the trade and I'm thinking, I don't want to lose that money, but I know that it's probably going to go there. So, you know, it's that how do I hang on, you know, leave the room, don't screen watch. But, you know, I also scale out of a trade. So they just sort of soothes that anxiety, right? I've come here. I'm now, there's now an amount of money in the account that I don't want to see evaporate. So I will just maybe take a quarter of the position off. It'll just make me read the bit, right? Okay, I bagged a bit of profit and now if we go to the next target, I'm going to feel happy. You've built muscles, you've built habits that remove emotion. Yeah, if this happens, you do this. If this happens, you... I find the key is to really just remove the emotion. You know, and being ADHD, I like dopamine hit. So, you know, you've got to avoid the highs and the lows. You've got to, you know, you've got to avoid the... So if you're trading for excitement, that's terrific, but that means you're trading for entertainment. You're not really taking it seriously as a business. And if it's something, if you're trying to get into trading for a career, or just build a second revenue stream, I think it's really advisable to examine how your emotions are and how to keep them in check. What pairs do you trade though? I focus on dollar pairs and yen pairs. So, well, actually, I focus on all the major... I do a lot of forex pairs. So the way my system works is I have a criteria to enter a trade. So I won't just look at, for example, Euro, US dollar, cable, you know, it's not like five pairs I look at. I'll look at 20, 30 pairs to try and find trades that match the criteria. So I may not trade one pair for months because they're just stuck in a sideways range that I don't like and I just can't identify there is just a mess. So, you know, I don't have any favorite pair, for example. I have a favorite strategy or criteria. You mentioned, you look for confluences. How many would you say you need to enter? I've got this sort of magic, yeah, three number in my head and I don't really know why I have it. Yeah, they're all three. Yeah. There is a sort of rule of three, isn't there? I think I probably read that as well. Yeah, rule of three. But subconsciously, if I sort of see, okay, fib level, trend line, moving average, I'm like, okay, I'm going to go for them. You don't look at specific trading pairs. You look at quite a large range and you're more interested in the patterns involved. Are you happy to dive in a little bit into how you're able to track such a large volume and then what techniques allow you to do that at such a large range? Okay, so my screen is set up. I travel a lot. So I just have a big screen laptop and I have two other screens that I plug in. Or at the moment, in London, I've actually, I always bring an HDMI cable so I can stick it into the television in a hotel room. So that allows me to have a big screen, you know, a screen space and I set things up. So I have daily chart, weekly chart, one hour chart, four hour chart. So those are the four time zones that I focus on. Anything shorter term than one hour. I don't really trust the signals or the patterns. They're not really particularly relevant. So four hour chart is my go-to chart. That's my go-to trend. That time period, for me, was because, as I say, I'm trying to find trades which I can risk 25, 30 pips, try and make 60, 90 pips. But in order to fulfill that, it's not going to happen in three or four hours. It's going to happen in a day or two. So often trades have to be run overnight, maybe 48 hours. So that's why four hour chart is my go-to chart. So for me, I say to people, you know, trade in the direction of the prevailing trend. The trend is your friend. So the prevailing trend for me is basically the four hour chart. But you have to keep an eye on the daily chart because, say, for example, you're in a bull trend, but you've been going down for two months. Now on the four hour chart, all I'm seeing is a nice downtrend for two months. But I need to be aware that we might be able to hit some massive support level, 38.2% fib, 200 day moving average or something like that. I need to know that. Or on the weekly chart as well. I mean, I'll give you an example. Euro US dollar and cable have been going up recently, most of this year. So a lot of people, if you're only looking at a daily chart, you'd be thinking, nice bull trend, you know, I've got to keep buying every time we get down, I'll buy. But on the weekly chart, if you go back 10 or 15 years, there's this massive trend line. Huge, 28, 23.6% fib, there's like a 200 month moving average, all coming in at this confluence area around the peaks of where the cable and your Euro just reversed. So I was aware of that. But only because I look at the weekly chart, and you can only see it on the weekly or the monthly chart. Now, since then, cable and Euro have absolutely collapsed a lot faster than I expected. Actually, what I'm trying to say to you is you have to be aware of all these different time periods. Yeah, but for me, I would go to the four hour chart, and that would be the one that can give me trade opportunities. So for example, buying into a support level and a bull trend that would fit the criteria that I'm looking for. Sorry, so you're looking at four different time zones, charts, but of how many currencies at the same time. How are you managing to keep an eye on, like you mentioned? Well, I can flick through charts pretty quick, and I know what I'm looking for now, even though I should do it in 15 years. So I can click on a pair and I can quickly look daily chart. Is it showing me anything, a pattern, a trend, anything that I can really get my teeth into? Not really, right, click the next one. So I might spend 20 seconds looking at one pair. And then if I see something like, okay, this requires further examination, then they'll be drilling down. But don't forget, I do this every day, like most traders. So it's not like I'm going from scratch every day, looking at the weekly, the daily, the four hour, the one hour. I've already got my trend lines and my fibs and moving averages on there. And I already know which pairs are sort of on my radar. So it's not like I'm going through 30 pairs every single day from start to finish. That would be five hours, right? Yeah. It's like a surveillance room. Yeah, yeah. Exactly. Yeah. Yeah. Looking forward a little bit, I suppose, towards the end of 23, beginning of 24. Are there hot things on your mind that you're ready looking at for that period? Even the magic word AI becoming more and more prevalent. So I suppose we can do it as a two-parter, the way that that's starting to interact with your life, but also just general things that are either intriguing you or scaring you for next year. AI is definitely the big one. It's in a good or a bad way. Oh, I think it's in a very good way. I mean, you know, there's obviously going to be bad players in that technology, but I'm not really focused on that. I've actually launched an AI company, believe it or not, with a small team in Manila, Philippines, really smart guys. I'm not very technologically minded. I can barely switch my laptop on, but these guys are pretty sharp. And I'm just fascinated by the technology. So we're building a little AI company in trading. Yeah. And we're kind of, yeah, we are sort of financial markets focused and we have one or two bank clients that we're doing, not trading platforms, but obviously because of my background, that is a sort of a niche that we're exploring. And I know that AI is coming into trading and it does really fascinate me. And I know there are platforms that are introducing it. So I'm getting into it, trying to understand it. Aren't we all? Yeah. So far what I've seen, I have looked at a couple of some AI platforms. And for me, I find them useful because although I've got good experience in technical analysis, it offers shortcuts. So although I wouldn't necessarily 100% trust an AI signal, and the AI can alert me to the fact that, you know, I've seen the way it'll draw its own trend lines on there or it'll identify a pattern. This is a flag, this is a triangle. And that's fantastic. And it's also going to be a really good tool for new traders who maybe don't have the experience of where to draw their trend lines and that kind of thing. You could just, oh, you know, click, this market is showing me this pattern, this market is showing me that. That's fantastic. And then I look at them and I think, okay, I like that pattern, that's something I can do something with. So it's instantly saved me a load of time. You know, some might say, no, I don't like that pattern, that doesn't work for me. I don't really believe that those are the right trend lines. Not this 100% full proof, obviously, but tremendous tool. And I'm sure there's going to be big developments. Wow. What an amazing talk from Jason. I personally learned a lot, I guess you did too. 100%. Definitely. Now, we move on next to Felicity, where she's going to give you the top financial news around the world. Hi, Poku and Gabriel. It's great to be back with you for another episode and another roundup of the news that you really need to know. Today, I'll be taking a look at what those worrying tensions in the Middle East are doing to markets and how they're changing investor behaviour. I'll dig into why Goldman Sachs has seen such a significant drop in its third quarter profits. Plus, I promised I would keep a close eye on relations between the US and China and a new round of sanctions has been hitting some tech firms. Then we'll finish today by taking a look at some of the different pressures on India's rupee. But first, the escalating situation between Israel and Gaza has led to some unbearable news stories over the last couple of weeks. Of course, any kind of conflict also has a significant impact on global markets. Now, those market stories may seem much less important, but traders will still need to follow them very closely. Now, as we've seen with other recent geopolitical tensions, a lot of investors look for safe haven assets to try and protect themselves from any future volatility in the markets. So, gold prices are up, the dollar saw some strong performance, although that has since softened a bit. We've also been seeing stock market falls as investors look for safety. And of course, whenever there's turmoil in the Middle East, you get some traders worrying about whether wider disruption could cause problems for oil supply. So, we've seen oil prices get quite high, ease off a little bit. At the time that I'm speaking, Brent is still trading at above $90 a barrel. Now, one other thing that's worth mentioning is the bond market. What we normally see when investors are looking for safe havens is a movement towards government debt. That doesn't seem to be happening just now. In fact, U.S. Treasury bonds have struggled over the last week or so. They hit a 17-year low at one point. We've seen a similar story with UK gilts where yields have been rising. Now, one reason for this is sticky inflation. That means interest rates might stay higher for longer. But then there are also growing concerns about the levels of government debt. Let's talk chips because the U.S. has imposed a new round of sanctions on China. It's halting shipments of the more advanced AI chips to the rival economy. And it's also trying to close any backdoors by rolling out similar restrictions for countries that it thinks are at risk of buying up advanced semiconductors from the U.S. and then reselling them to China. Now, there have been concerns in the States for a while that exporting tech to China could fuel breakthroughs in AI and might help the country develop military applications. It's only about a year since the first controls were introduced over chip exports. As you would probably expect, this did hit U.S. chip companies. And there are also modest market falls per tech stock in China as well. Now, let's take a look at Goldman Sachs. It saw a 36% drop in third quarter profits. That is the eighth quarter in a row where earnings have fallen. Now, I should say this wasn't unexpected. It had said earlier this year it was going to pull out of its consumer lending business. And it's also had to write down its investment in the lending platform, Greensky. There were also, I should say, some brighter points in its results, including a 1% rise in investment banking revenues. And the bank was upbeat about its prospects for 2024. And there is just a final Goldman Sachs story I cannot resist. The chief executive, David Solomon, has agreed to give up his side hustle as a DJ. Under the name DJ DeSole, he had been playing some pretty high profile gigs, including the Lollapalooza Festival. But media reports this week suggest he's agreed to hang up his headphones, and he hasn't performed at a high profile event since last year. The Indian rupee had a bad few days against the dollar, ending at its lifetime closing low last week. Now, there's quite a lot at play here. There's a weak domestic market, plus there's that jump in crude oil prices. But traders and banks are also getting ready for a possible dollar shortage. Back in 2022, the Reserve Bank of India, the RBI, undertook a $5 billion rupee swap. That matures this week. And that potentially means that billions of dollars could be taken out of the banking system. So you've got the larger banks busy raising dollars now to try and avoid a crunch if that happens. Of course, it is possible the Reserve Bank of India could decide to roll over the swap instead of allowing it to mature. Media reports suggest that most bankers are not expecting that. They are expecting it to mature as planned. It's worth saying as well, though, the rupee stayed weak but flat towards the end of last week. Traders have told the news agency Reuters that the RBI is likely to be selling US dollars to protect the rupee from falling to a record low. And that is all from me for this episode. I'm sure I'll have updates on some of these hot topics next time and probably some new developments as well. Because from geopolitical tensions to company announcements to currency movements, there is an awful lot that traders need to keep an eye on. In the meantime, it's back to UT guys in the studio. Thank you so much Felicity. Straight now, we've got another great guest, Haley Quinn, joining us to tell us a little bit about dating and its link to finance. Haley, welcome to the show. So nice to have you. I do just want to tell the people listening a little bit about yourself if that's okay. So you are a dating coach. You are also the founder of the UK's largest dating coaching company. Very, very cool. But not just that. You've been featured in articles on BBC, Sky, done a TEDx talk, author as well for some dating books. And on top of that, you have a regular column in Cosmopolitan. Very, very impressive CV. And it clearly shows that you know a lot about this subject. But we like to talk a little bit about finance here on the TV show, about people, to use the word, people's love of finance and money and investing. And I suppose we're trying to make people fall a bit more in love with the subject, be a bit more passionate about it. And I'd love to know about how you go through that method in the coaching world when it comes to dating. So dating has a bit of a barrier to it. There's a, you know, people part of their guards, all that kind of stuff. And your job is to help them, you know, become passionate about it and learn those skills. What kind of things can we learn from you that you teach people in that world that we can apply to helping people become passionate about money? Okay. Well, I think investing and dating have a bit of a parallel in that they both require a kind of a process that works for you as an individual. And every person is going to be slightly different in terms of their preferences and perhaps what their goals are. You have to have a bit of knowledge. So there's some red flags in dating that we're laying out. And there's also going to be red flags in investing as well. And you also need a degree of self-confidence to even begin in the process because just by engaging, as you said, with that subject matter, for some people dating means, oh my gosh, I'm going to be rejected. This could be mortifying. I'm going to be emotionally exposed. I'm going to be let down. So when you have that fear, before you get started, it's about developing a process where you can engage with it in a way that feels safe to you and gradually develops your confidence. Love that. Some great snippets. So what are the main reasons you see that like resistance in the first place? You mentioned a few just then, but are there some key and obvious ones that people can remove straight away? And then we're going to try and see how we can link them into the financial world. Okay, I wouldn't say remove straight away. Because I think that's a bit of a, I'm kind of against magic bullets, which is this idea that we can just go, hey presto, we really want to have gotten you, we want to be a millionaire. And I think that's maybe how, maybe that's how investing is spoken about. That's how dating is often spoken about in the world of social media. That creates a problem because it creates unrealistic expectations. If you have unrealistic expectations in your day to day life and process of engaging with dating, you're not going to meet those expectations, then you're going to find your motivation suffers and you're going to find it harder to engage again with the topic. So a lot of the work we do as coaches is to help people to develop motivation. So they can go, right, I might not become a millionaire or find a long-term partner or just have a rewarding single life overnight. But how can I do day to day processes around this, which I'm going to find enjoyment in anyway, even if I'm not on my ultimate goal yet. I think we can learn a few things there, right? I mean, when we're thinking about investing ourselves, what you mentioned there about expectations is so important. People will sometimes jump into investing and trading thinking, I want to get to this massive crazy end goal. When you don't get their quickly, quick result, that's a thing that's becoming more and more prevalent these days. You can, like you said, lose that motivation and that can cause detrimental effects for the long time. And I suppose the same vice versa, having too low expectations might mean that you never jump into it in the first place. I mean, your personal experience, Poku? Yeah, also you mentioned processes. So having processes so that every day it becomes rewarding and whatnot. I feel the same with our trade as well because I've a set process where I look for a criteria and if I see certain things aligning, then I go. So I think it all links in a way. So definitely if you just, would you say then you kind of look to align the way you date in that sense where, if it makes sense for you, you're not wasting as much time everywhere. You're going for what's highly likely to make you feel a better way. Yeah. So I think it's important as individuals, it's a nuance to prototype because I think probably just like investing the different appetites for how much risk you want to take and also different goals and outcomes. So there's not one like uni process. I think the works for everyone. It has to be tailored to the individual. When it comes to developing that process and making it feel rewarding on a day-to-day basis, it could be like, what positive action steps can I take towards my goals? So instead of focusing on the end goal of like becoming super rich or falling in love, it's like what day-to-day actions can I take that will help to move towards that goal? And then how, if I take enough of those actions, you start to get feedback loops because you go, oh, that's not working very well or that is working really well. And then you can refine your process where people can get quite stuck is there's not enough, I guess, top of the funnel. There's not enough initial feedback loops for them to really start to understand. So they may have a concept or a narrative about why they're single. And by the way, I don't think there's anything wrong with being single if you're enjoying it and that's your choice. But they may think, oh, no one wants commitment anymore. Or I'm just too, she knows that they're going this really self-defeating narrative that will then prevent them from, you know, maybe using apps or going out meeting people in real life. They may be really closed off or find it really confrontational even when someone says, oh, I'm attracted to you, would you like to go out on a date for something to be like? And in that, that means that they're, they're very sensitive in the area of dating, they're not going on many dates, they're not meeting many people and therefore they're not getting far enough into the process to really figure out what could actually be holding them back. I want to switch lanes a little bit here. There was some research done in the financial world that kind of took a look at the approach of young people towards both investing and dating. And they found that when it comes to dating, they think much longer term considering much further in their future, as opposed to investing and trading where they're thinking maybe slightly shorter term. Why do you think that might be? And what are the things that the financial world can learn from the dating world to perhaps take a longer term approach? I think with dating, I think it's because again, when we're looking back to the narrative we've all been given, we might all, a lot of us, a large majority might expect at one day to be married or in a long term relationship. And we see that as like a, we're ultimately dating to move towards that goal. Whilst I think there's a kind of get rich, quick hustle or an immediacy that we want in our finances. But first of all, both are interlinked because obviously in a partnership, it can often be easier to achieve financial goals as a couple as well. And it also means that it's just again, going back to unrealistic expectations. Whilst we might see like the Lamborghini or something on a nice Instagram reel, that's not necessarily a realistic immediate goal. People also can sometimes feel like they need to achieve degrees of financial security before they then feel ready to date or form a relationship. But most of the things I think these things have to run in parallel. And as I said, finances, whether we probably not what you think about on your wedding day necessarily, but it's a cool part of a relationship and being a couple as well. Yeah, I also want to ask them, how does one make conversations with your partner about finances less loaded and not as intense? Because we all know, speaking of finances can help you get through all sorts of situations. Yeah, and I think it's interesting, because I think finances can be just it can create feelings of shame of I don't have enough money or you know, and then in other people, it can create feelings of fear. I think some people spoke about money as survival tokens. And if you don't feel like you are financially secure, it can actually be a really fearful space to be in. So that's why conversations around money can feel really loaded. And I think it's very interesting in our society. We'll ask, it's probably like the second question we asked someone at a Christmas party is, are you seeing anybody? You know, we go right in there, don't we? But can you imagine just going, so how much did you earn last year? We just we wouldn't do it, which is very funny that we have this kind of intrusive approach. And this, we need to fix your approach to someone who's single. But finances feel really difficult to talk about. Of course, like transparency is great when you feel safe to do so. Again, it's probably not what you'd be talking about on a first date. But I think if you're entering into a longer term relationship, transparency, openness about not just finances, but it could be debt, it could be financial preferences, different people are some people are more conservative, some people have a higher appetite for risk. Some people have very different spending patterns that can cause problems in relationships. So getting on the same page, also recognising if you have similar goals, and then probably getting very pragmatic. I mean, my husband and I, we have a lot of spreadsheets, you know, that we share together. I love spreadsheets. I'm in charge of the spreadsheets in our house. I was like, you can do them. I'll just look at them when you're finished making them. That's that's so interesting. Is there a point at which you say this is the right time to start having those conversations in a relationship? Well, I think it's like anything you need degrees of trust, right? And trust is a compound thing before you start to share what can feel like quite intimate details of your life. You can start also by expressing your own preferences. So I always think that's an easier way to manage these conversations. If you say, so, got any debts? Or, you know, how much do you really feel comfortable spending? You know, what's your savings? Like it's going to feel really like intrusive. If you say, you know what was really important to me or something that I've realized or this is how I like to manage things and you share, it creates a much safer environment for the other person to share information returns. I think that's a nice way you can kickstart the conversation about money. And then if you are in a couple and you think this is for the long time, it actually makes so much sense to crack a spreadsheet out. That's why we see the rise of dink couples, you know, dual income, no kids. It's a trend. And it's because people are recognizing actually it is a pretty tough economic environment out there working together. You can actually, you can save a lot of money and it can become easier to reach financial goals. Yeah, I've never heard of a dink. Yeah, I'm not a dink anymore, unfortunately. I'm a dink. I am a dink. Wow. Sounds like I'm insulting myself a bit. I don't want to misconstrue that word, right? D-I-N-K to anyone listening. The N is the important bit. Absolutely. That's fascinating. I think I've learned a lot myself personally. I mean, me and my wife, we crack open the spreadsheet once a month, you know, pour a bottle of wine, take a look at the finances every so often. It's very important. But Poco and I have also gone out into the public and tried to ask them financial questions. And from our own personal experiences, especially in the UK, there are walls up when it comes to money. So I think that everything that you've shared has been really good. Hopefully someone listening to this now appreciates and understands the value of finance within relationships. And hopefully they've got some tips both in their financial life and in their dating life. So really appreciate everything. Thank you so much for coming on. We've learned a lot. Poco knows what he's doing for his next date, right? Yeah. He's got it. He's got it. No hesitation. Go for the kill. Go for the kill. Thank you so much. What a pleasure. Thank you. Appreciate it. What a show, Poco. Another incredible episode, incredible guests. And I'm going to ask you straight away, what did you learn from Jason? Jason, I mean, for him, it was more just seeing the history in his face. I can just see where he came from, the transition from analog to signal to screen trading. Not only that, understanding he has confluences so that that just correlates to my trading. So it's just nice to hear someone. Show me some hand signals. So yeah, but I must be so fun to do. I'm just doing that. But it's just great to learn those lessons and just see from the experience. So it was really good to hear from someone like himself. What about you? What did you learn from Haley? Yeah, I learned I need to be a better husband to my wife. No, specifically, I think the one thing that was good to hear was about taking that leap one step further than you're comfortable. Because I think both finance and dating, it seems like you need to take a risk. There needs to be some element of risk. So it's just about taking one step further than your comfort level to expose yourself to new experiences and hopefully that advances your knowledge, your experience and puts you in a better position in life, whether that's like we said in dating or finances, which was really good to know. And honestly, I'm going to take that into my own life. But that was an incredible show. More importantly, though, next week, we're going to have another two incredible guests. Poker, you want to do a little sneak preview? Yeah, starting off, we've got Richard Nazler coming from Lebanon, a full-time trader against someone I can learn from and putting on the stall and get some questions. It'll be great. Yeah, so who else we got coming up? Well, straight after that, we're going to have some financial news from Felicity, but our second guest Izzy Lawrence, historian, author, comedian, pirate expert. We're not going to go into that any further until we get to that show. But we're going to take a look at the history of stocks and see what that teaches us, what guidance we can get from that. And you know what? I think we're going to have a lot, a lot to talk about with her and some stuff to take back to the next dinner party that we have. You didn't invite me to your last dinner party. Well, next episode. Next episode. But yeah, I can't wait. We'll come again in two weeks where we get to learn, apply, and learn from great speakers, where it's time to trade thoughts. Let's get it. Nice, fella.