Ep 612: Killing the Goose That Lays the Golden Eggs

by Natalie Pyles on April 24, 2018

 

A recurring theme on The Traders Podcast is the long-view, sure-bet principles of minimizing your losses to small amounts and taking small gains and compounding them over time. This is the way to profitability in currency trading. Though it’s not very sexy or exciting, this method is analogous to “the goose that laid the golden eggs” from Aesop’s Fables. A trader can set aside one golden egg each day, or a trader can choose to become impatient, kill the goose, and lose everything.

In Episode 612 of The Traders Podcast, your hosts Rob Booker and Jason the producer talk about finding an approach to trading that’s easy for you to do successfully, regardless of how profitable it is, and then sticking with it for the long haul. Many traders tend to get bored easily, so they will wander away from something that’s actually working, just because it seems too simple. We hope you will give this episode a listen. We believe it will help! Join us!

By the way, if you’ve been morbidly curious about the mysterious cryptocurrency market, you can learn more from Rob’s free book! Receive it by visiting RobCoin.com. Thanks for listening.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
[click to continue…]

{ 0 comments }

Ep 611: The Secret Weapon of Order

by Natalie Pyles on April 19, 2018

 

Episode 611Today’s lesson for The Traders Podcast, Episode 611, is both figurative and literal. First, your host Rob Booker lays the groundwork by talking about cleaning up your workspace to ensure that it’s tidy and organized. Will an empty desk with no clutter help you trade better? We believe it will.

Once you have cleared out your workspace and have thrown away the clutter and anything else that isn’t working, you can take the same action toward your trading account.

Rob is working on a new trading experiment along these lines. He’s running a robot in a $127,000 trading account. He has cleared the clutter and has thrown away anything that isn’t working. He closes his losses. Don’t hang onto something because you believe it might come in handy or you will use it later. Just let it go. Join us to learn more!

If you have any degree of interest in the cryptocurrency market, visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Thanks for joining us!

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
[click to continue…]

{ 0 comments }

Ep 610: State of the Market Address

by Natalie Pyles on April 17, 2018

Whether we choose to monitor it or not, the markets are often influenced by the newsworthy developments of the day. Some currency traders watch the news and keep up with politics and geopolitical current events to help them predict direction and volatility in the market. Other traders feel that concerning themselves with “all that noise” can just be a distraction.

Either way, occasionally on The Traders Podcast your host Rob Booker will devote an episode to discussing current events and how they are influencing the market. Regardless of your politics, you’re welcome here! As Rob and the producer Jason discuss the current administration, we won’t take any stances one way or the other.

Instead, Rob’s objective in Episode 610 is to examine what’s happening with President Trump and how our current administration is affecting the stock market. Financial markets are adversely affected by political uncertainty, and there are many developments afoot that are influencing our trading. We hope you will listen to learn more!

Also in this episode, Rob reflects back on a prediction he made years ago on this podcast. He said Facebook stock would reach $100 a share and predicted that you — the Facebook user — would become “The Product.” You can hear more and revisit these predictions in the episodes linked below:

Episode 48: The Problem With Facebook

Episode 49: Fair Value, Facebook and the Euro-Swiss

If you have any degree of interest in the cryptocurrency market, visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Thanks for joining us!

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
[click to continue…]

{ 0 comments }

Ep 609: Did Curiosity Kill the Cat?

by Natalie Pyles on April 13, 2018

 

Welcome to The Traders Podcast, Episode 609! Today your host Rob Booker and the producer Jason Pyles discuss the age-old expression, “curiosity killed the cat,” and explore how curiosity can help and hurt you as a trader. At first blush, one might agree with the adage because curiosity can certainly get you into trouble. On the other hand, because cats seem to have nine lives, they tend to do all right. When it comes to trading, though, we have to look more closely.

Traders are excited by new indicators, robots and the hope of finding some new way to become a profitable currency trader. This curiosity is always about making more money, but this is the kind of curiosity that can potentially get you in trouble. However, if you’re searching for a way to reduce your drawdown or reduce your losses, your curiosity surrounding that topic is on point! Rob wants to see more of this kind of curiosity!

Thanks for listening to The Traders Podcast. We release new episodes every Tuesday and Thursday. Subscribe free in iTunes and join us!

If you have any degree of interest in the cryptocurrency market, visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Thanks for joining us!

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
[click to continue…]

{ 0 comments }

Ep 608: The Real Purpose for Simulated Trading

by Natalie Pyles on April 11, 2018

 

Following up on the simulation conversation from the previous episode, your hosts Rob Booker and the producer Jason Pyles bring you Episode 608 of The Traders Podcast. For this show, we apply our previous musing about simulations to trading.

We talk about backtesting and the misconception that simulated trading isn’t for discovering whether a system is good; simulated trading is for deciding whether you’re good. In other words, are you going to make the right kinds of decisions to be a profitable trader. Join us to learn more!

If you have any degree of interest in the cryptocurrency market, visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
[click to continue…]

{ 0 comments }

Ep 607: You’re Living in a Simulation

by Natalie Pyles on April 5, 2018

 

If you woke up tomorrow and you had proof that you were living in a simulation, how would that change what you do? It’s an interesting question. Would you care about rules? Would you feel trapped or would you feel liberated? Welcome to The Traders Podcast Episode 607 today. We’re diving deep into a philosophical question with your host Rob Booker and producer Jason Pyles. Thanks for joining us!

When you think about it, it doesn’t really matter if we’re living in a simulation. Either way, there are consequences to the decisions we make. There are decisions we can make every day as a trader. And, it’s still your choice what you do next.

Rob has met about 10,000 traders by now whom he would recognize and know by name. He knows traders, and he loves traders! The message he would share is this: Wake your mind up. Imagine what the future holds for you if you don’t change your decision-making process. Does your current path lead you to hit rock bottom. Remember, stop when things are going well. Start when the time is right and take a trade size so small that it doesn’t matter if you win or lose.

Also, if you would like to explore the mysterious world of the cryptocurrency market, you can visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
[click to continue…]

{ 0 comments }

Ep 606: The Importance of Being Right

by Natalie Pyles on April 3, 2018

 

How important is it for you to be right all along? For whatever reason, some traders apparently feel it’s more important to be right than it is to be profitable. Don’t let your need to be right take precedence over your need to find out what’s true.

Many traders suspect that in order to be successful in trading, one must be right from the beginning. But how likely is it that anyone can be 100 percent correct 100 percent of the time? The most realistic scenario is being right eventually. Being right from the beginning is definitely preferable, and it’s a worthy ambition, as long as you remember that you don’t have to be right at the outset. It doesn’t matter how you arrive at profitability, as long as you get there.

In Episode 606 of The Traders Podcast, your host Rob Booker and the producer Jason Pyles discuss the importance of being right. We talk about the phenomenon where traders would do fine if they would just allow themselves the pleasure of making money, even though it doesn’t look like a method that anyone else is doing. If they weren’t so worried that what they’re doing isn’t legitimate, then they might just enable themselves to make some money! Join us to learn more!

Also, if you would like to explore the mysterious world of the cryptocurrency market, you can visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
[click to continue…]

{ 0 comments }

 

In Episode 605 of The Traders Podcast, your host Rob Booker and the producer Jason Pyles talk about how to know if you’re pursuing the right course in your trading. We discuss pushing your limits and maximizing your potential. We talk about a human’s ability to “see the light,” to become enlightened and to change.

There is an important distinction between pushing your limits to stretch and grow and simply pursuing the wrong course by “banging your head against a wall” or “trying to fit a square peg in a round hole.” There are pursuits that we can strive to achieve, and then there are ambitions we were never meant to pursue. This episode explores the idea of how maximizing your potential has to do with pushing yourself, yes, but pushing yourself in the right direction!

Episode 605 encourages you to take a self-inventory and to investigate whether there are any areas of trading where you’re “forcing it.” Are you pushing yourself to your limits but also failing — repeatedly? If this is the case, Rob says, then you’re not even close to maximizing your potential at all. Actually, you’re ruining everything.

Where are you most comfortable? Which trading pursuit feels best? Where are you relaxed and at ease? Listen to this episode to learn more!

Also, if you would like to explore the mysterious world of the cryptocurrency market, you can visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
[click to continue…]

{ 0 comments }

Ep 604: The Quality to Look for in a Good Trader

by Natalie Pyles on March 27, 2018

 

Welcome to The Traders Podcast Episode 604. This morning your host Rob Booker and the producer Jason Pyles go back to the basics of currency trading.

As a teacher Rob knows that you always have something to learn when you get back to the basics. Here are the fundamental skills:

First, look for your support and resistance trend lines.
Second, watch the price action.
Third, study economics.

Beyond that homework, what are the qualities of a student? As Rob is training new traders there is a quality that tells him right away that they are going to be good. That quality is confidence – without arrogance – a little swagger that they know they can get this. They don’t get overwhelmed they just back up. They have a willingness to focus and a willingness to practice whatever it takes.

Remember the classic lyrics, “We’ve only just begun.” Often we get nervous about how much we don’t know. We may fall for the idea that the more you know the better you’ll do. That’s really only true when you study deep, not broad. Focus and stick with us, traders! Thanks for joining us today.

Are you ready to learn more about day trading the cryptocurrency market, be sure to visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
[click to continue…]

{ 0 comments }

 

Welcome to The Traders Podcast! This is Episode 603, when your hosts Rob Booker and the producer Jason Pyles discuss “the Portfolio Approach” to currency trading.

Traders are subject to a bizarre recency bias, where they tend to use the most current event or experience as a baseline for predicting what will likely happen in the future. In other words, traders often base their feelings about a certain robot or trading strategy on the outcome of the last trade they took. In Episode 603, Rob suggests that we should instead judge by using, what he calls, “the Portfolio Approach.” Join us to learn more!

And if you would like to learn more about day trading the cryptocurrency market, be sure to visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
[click to continue…]

{ 0 comments }