Nathan Michaud on Overtrading, Community, and Why Process Beats Constant Action

Nathan Michaud on Overtrading, Community, and Why Process Beats Constant Action

Nathan Michaud joins Kim to talk about the mindset behind building both a trading career and a trading community. Best known as the founder of Investors Underground, Nathan speaks directly to one of the problems that catches countless traders early: confusing activity with progress. His own journey began with overtrading, and the systems he later built were shaped by the need to create structure, accountability, and a cleaner process.

The conversation is especially strong on what traders misunderstand about growth. Nathan talks about why being lost can be useful, why having a plan matters more than just showing up, and how community can sharpen both accountability and purpose. For traders who know they are doing too much but not necessarily doing the right things, this is a high-signal episode.

Podcast: Play in new window | Download (Duration: 1:26:15 — 79.0MB)

About Nathan Michaud

Nathan Michaud started trading while in college and later built Investors Underground into one of the most recognizable trading communities online. His work has always centered on helping traders become more self-sufficient, more accountable, and less dependent on noise. In this episode, he talks through the mindset foundations underneath that mission.

Key insights from this episode

• Overtrading is often the visible symptom, not the whole problem. Nathan’s work started as an attempt to create accountability around his own excess activity.
• Being “lost” is not always bad. It can be the period where traders stop pretending and begin figuring out what actually fits them.
• You cannot just show up and expect to perform. A real process requires planning, context, and a bigger-picture view before you act.
• Traders need a good team and good community, not because they should copy others, but because growth is faster when you are challenged and supported at the same time.
• Learning from wins matters too. Traders often replay losses endlessly but ignore what their best decisions are teaching them.

Episode chapters

3:20 – The importance of developing your own process

7:19 – The benefits of being lost

9:45 – From trading side hustle to empire

11:40 – Is overtrading the real problem?

13:45 – The importance of having a great team

18:50 – Why are people so generous in the trading community?

27:00 – Nathan on his purpose

34:18 – Adaptability and traps traders fall into

42:28 – Over to the Twitter Space Q&A

Follow Nathan Michaud

Nathan on Twitter / X
Nathan on Instagram
Investors Underground