by producer on May 16, 2012
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In this episode, Rob Booker interviews “Mr. Automatable,” James Chen, who educates traders and is the director of technical analysis at FXDD in New York City — one of the premier MetaTrader shops.
Rob talks to James about how he got started in trading and how he got his current position; they discuss the other markets that James watches — in addition to forex. Rob asks James about his move from discretionary trading to non-discretionary trading, and how he gravitated toward an automated set of rules. They discuss the possibility of fully automating a trading strategy and whether James prefers longer term or shorter term trading.
As an analyst and an educator, James travels all over the world, so Rob asks him about the places he’s been in the last few months, and they discuss the wonderland that is Singapore. Robs asks where James finds the most growth right now in forex trading, Asian traders versus U.S. traders, and we hear James’s advice for someone who is looking to trade forex for the first time. Tune in!
FXDD: http://forex.fxdd.com/
by producer on May 14, 2012
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An expert in automated back-testing, Chris Davison joins us from the UK to give more advice on how to lose money and to discuss the two elements of draw-down: namely, how your system copes with draw-down and how you personally deal with draw-down.
Rob and Chris clarify the difference between risking 1% per trade versus risking 2% per trade, and they give advice on how to get to the point where you don’t worry when you’ve hit a losing streak. Rob brings us another “Dumb Things That Rob Does” segment, and Chris reveals some interesting findings that have occurred during the Wallabot Millionaire experiment.
There’s talk about how to give yourself “an infinite time horizon on success,” differentiating between investing and gambling, and Chris names the reason why he thinks most people lose money trading — and more. Please join us!
Chris Davison’s blog, where he monitors the performance of several automated systems: Chasing Pips
Understanding Draw-Down:
If you enjoy this episode, we also recommend The Traders Podcast, Episodes 1 — 3: “The Commandments of Automated Trading,” with guest Chris Davison:
Episode 1: Automated Trading Part 1
Episode 2: Automated Trading Part 2
Episode 3: Automated Trading Part 3
by producer on May 9, 2012
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In this fourth part of four episodes on movies about trading, Rob Booker and Jason Pyles focus their discussion around the trading movie of all trading movies, Oliver Stone’s 1987 classic, “Wall Street.”
With this backdrop, Rob and Jason talk about the temptations and pitfalls of insider trading, the meaning behind “greed is good,” how you know if you’ve got what it takes to be a trader, what sacrifices being the best at trading for a living will require, the price of making a million dollars and why it’s not difficult to make money (if you’re willing).
Jason’s show about how to write songs: The Songwriting Podcast
Jason’s show about horror movies: Horror Metropolis
by producer on May 7, 2012
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In this third part of four episodes on movies about trading, Rob Booker and Jason Pyles base their discussion on the 2011 film “Margin Call.”
This topic brings about several unsettling subjects, such as the disparity between what is really happening on Wall Street versus what we hope is happening. Rob and Jason also talk about the various ethical dilemmas posed in “Margin Call”; the theme of living more simply; the business world’s value of employees in relation to their loyalty versus their usefulness; and Rob talks about why we tend to hold on to our losing positions in the market. For the beginners out there, Rob briefly teaches Jason how to sign up for a demo account.
And as mentioned in this episode, for those who wish to learn how film critic Roger Ebert gave Oprah Winfrey her start, read this article: “How I Gave Oprah Her Start” — by Roger Ebert
Jason’s show about how to write songs: The Songwriting Podcast
Jason’s show about horror movies: Horror Metropolis
by producer on May 2, 2012
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In this second part of four episodes on movies about trading, Rob Booker invites film critic and producer of The Traders Podcast, Jason Pyles, back to talk about the 1983 comedy, “Trading Places,” starring Eddie Murphy and Dan Aykroyd.
Rob and Jason also discuss how you know when the psychology of the market is going to turn around (or, aka “the G.I. Joe with the kung-fu grip”); whether knowing how to survive on the streets is similar to knowing how to survive in the market; how success in trading is knowing how to withstand pressure; the psychology of desperation and adding discipline to determination; and most importantly — the fastest way to get back as much money as possible after suffering a huge loss. You don’t want to miss this episode!
Jason’s show about how to write songs: The Songwriting Podcast
Jason’s show about horror movies: Horror Metropolis
by producer on April 30, 2012
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The next four episodes are dedicated to those who are under the weather or have some extra time on their hands. Rob Booker teams up with the mysterious producer of The Traders Podcast, Jason Pyles, to review four movies for traders while discussing how they reflect upon the world of trading, how accurate they are, and why they’re important for every trader to watch.
For Episode 41, Rob and Jason delve into a documentary called “Enron: The Smartest Guys in the Room” (2005). And not to worry — even though our topical backdrop for the next four episodes is going to be movies, these shows are still about trading. Always trading. So, tune in and make some additions to your Netflix queue!
Jason’s show about how to write songs: The Songwriting Podcast
Jason’s show about horror movies: Horror Metropolis
by producer on April 25, 2012
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Rob Booker is joined again by his guest co-host, “The Coach” Scott Welsh, podcasting from Columbus, Ohio. Scott and Rob begin this episode by talking about the importance of knowing what you want when striving to achieve a goal.
Next your trader hosts discuss whether the location you’re trading from affects your trading, and whether you can trade from anywhere in the world (and by the way, where are the greatest places in the world to trade from?). Rob and Scott also consider Las Vegas: Is Sin City the perfect place for traders? Can automated trading enable you to trade from anywhere? Rob lists his favorite trading locations, and he reveals his pick for the greatest city of all time. And if you live in a certain location — which is named in this episode — and you’d like Rob and Scott to come and trade at your home with you for a week or two, then contact us at producer@traderspodcast.com.
Also, in this episode, we introduce a new segment called “Dumb Things That Rob Does,” which pertains to today’s topic.
And finally, Rob concludes Episode 40 with a remarkable epilogue that enumerates the reasons why, exactly, we trade for a living by recounting an unforgettable story about his friend, Mickey — a trader who realized his dreams.
Please leave us a comment, telling us where you trade from and where you’d like to trade from.
Scott Welsh’s Web site: Bossilator.com
This episode is dedicated to Mickey, who successfully did what he always wanted to do.
by producer on April 23, 2012
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“The Coach” Scott Welsh returns to The Traders Podcast to engage in a little banter with Rob Booker about trading on Macs versus PCs. Then Rob introduces a new segment called “Jennifer Asks a Question,” in which they discuss traders who seem to perpetually move to break even.
Adding Jennifer Thornburg to the conversation, the three traders also discuss dealing with the naturally occurring frustrations associated with trading, whether it’s more advisable to play it safe or to play aggressively, a secret for knowing “when you have arrived” and are becoming a successful trader, and they discuss whether you’re still a trader if you’ve automated your system.
These tidbits and more can be heard in Episode 39 of The Traders Podcast. Give us a listen!
Scott Welsh’s Web site: Bossilator.com
Jennifer Thornburg’s Web site: Jennifer.bz
Jennifer’s Twitter: @JenTho3
by producer on April 18, 2012
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In Episode 38, Rob Booker talks with co-hosts Raghee Horner and Jennifer Thornburg about how to get a big-picture view of the Dominant Psychology of the Market. Rob asks these ladies what it means to do a five-minute analysis of a financial instrument, and how it plays a part in their decision-making process about trading. Rob also asks if, in the world of stocks, since a financial instrument can move down faster than it goes up, do currencies move down faster than they move up. And The Traders Podcast hosts spend some time talking about Apple and its future. Don’t miss it!
Raghee’s Web site: RagheeHorner.com
Jennifer’s Web site: Jennifer.bz
by producer on April 16, 2012
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Rob Booker is joined by co-hosts Raghee Horner and Jennifer Thornburg. This show begins with a discussion of the price of gasoline and how it rises quickly but doesn’t seem to fall quickly. Also, Rob introduces a new segment of cautionary tales called “Dumb Stuff That Rob Does.” Raghee gives some highlights that she taught her attendees at a recent Webinar. And Raghee and Jennifer talk about which trading sessions they enjoy the most, as well as the importance of determining the time of day that you’ll be most successful trading. Join us!
Jennifer on Twitter: @JenTho3
Find Raghee’s book here:
