Ep 636: A Trader’s No. 1 Goal Is to Reduce Drawdown

by Natalie Pyles on July 19, 2018

 

What is your No. 1 goal in trading? To make money? No.

In Episode 636 of The Traders Podcast, your host Rob Booker explains why your No. 1 “secret goal” as a trader is to reduce drawdown. Rob says a trader’s primary responsibility is to reduce drawdown and cut your losses. You want to avoid holding on to your losses for long periods of time.

During this question-and-answer show, the producer Jason Pyles also talks to Rob about a number of universal, trading-related queries. Rob says the famous phrase in trading is, “You can’t win if you don’t play,” but the phrase should be, “You can’t play if you don’t win.” Listen to this episode to learn how to win more! Thanks for joining us for The Traders Podcast.

Be sure to visit RobTrends.comto learn about Rob’s brand-new indicator and trading system!

Remember, if you want to learn more about cryptocurrency, you can get Rob’s free book at RobCoin.com! Thanks for listening to The Traders Podcast. [click to continue…]

{ 0 comments }

Ep 635: Learning How to Make Money Trading

by Natalie Pyles on July 17, 2018

 

Sometimes the events of the news don’t have to be strictly financially related in order for us to glean some truth about trading. In Episode 635, your host Rob Booker and the producer Jason Pyles discuss the recent, heroic rescue of the boys trapped in a cave in Thailand. We talk about pressure and deadlines. We also discuss rising to the occasion and calling upon reserves of strength and determination precisely when they’re needed. Rob also draws a parallel with the beginning of a trader’s career and the seemingly long, dark tunnel to attaining the status of a profitable trader.

In Episode 635, Rob also talks getting back on track at the last point where you knew you were still on course. We discuss the occasional necessity of having to repeat portions of a journey. Many traders find this very humbling and discouraging, but Rob talks about how it’s often a necessary part of the learning process. We also hear the story of David, a trader who Rob repeatedly challenged to make one dollar a day. Listen to hear what David eventually learned! Join us!

Be sure to visit RobTrends.comto learn about Rob’s brand-new indicator and trading system!

Remember, if you want to learn more about cryptocurrency, you can get Rob’s free book at RobCoin.com! Thanks for listening to The Traders Podcast. [click to continue…]

{ 0 comments }

 

Continuing on with our interview series, Episode 634 of The Traders Podcast brings you the wisdom of Scott Heywood. He talks about his primary trading goal of just surviving to trade tomorrow and next week!

Scott says he doesn’t consider himself a trend trader or even a counter trend trader. He doesn’t make his decisions to trade based on whether a pair is trending. Scott talks about getting his news from Twitter, though he doesn’t let that information worry him or affect his approach to trading.

Scott also talks about his preference of having freedom and flexibility in his schedule rather than adhering to a daily trading routine. Scott does, however, have a weekly routine that he describes during this podcast. When asked how long it takes for a person to learn to trade for a living, Scott explains why it could be anywhere from six months to six years, depending on the individual. He also discusses the value of time and experience. Join us to hear more!

How to get in touch with Scott:

Website: Tenfortyone – Sign up for Scott’s newsletter!

Scott’s favorite book: Zen in the Martial Arts

Be sure to visit RobTrends.comto learn about Rob’s brand-new indicator and trading system!

Remember, if you want to learn more about cryptocurrency, you can get Rob’s free book at RobCoin.com! Thanks for listening to The Traders Podcast. [click to continue…]

{ 0 comments }

 

Welcome back to The Traders Podcast! Your host Rob Booker continues his interview series with the great trend trader Raghee Horner! She talks about the importance of having a short memory when it comes to good trades (as well as the bad ones). Raghee encourages the listeners to not take a stop-loss personally. In fact, Raghee says traders shouldn’t take anything personally.

During Episode 633, Raghee speaks about trading systems, trading routines and how she tracks her trading goals. She also talks about how fasting can help your trading! Raghee says a good trade is a story you can wrap your head around and then prove with price. And she tells us what she believes is the most common mistake that traders make! Join us to hear more!

How to get in touch with Raghee Horner:

Website: Raghee’s Clubhouse
Twitter, Facebook and IG: @RagheeHorner

Raghee’s favorite books: Breaking the Habit of Being Yourself and The Amazing Power of Deliberate Intent

Be sure to visit RobTrends.comto learn about Rob’s brand-new indicator and trading system!

Remember, if you want to learn more about cryptocurrency, you can get Rob’s free book at RobCoin.com! Thanks for listening to The Traders Podcast. [click to continue…]

{ 0 comments }

Ep 632: Scott Welsh on Beating the Market

by Natalie Pyles on July 5, 2018

 

In Episode 632 of The Traders Podcast, your host Rob Booker poses a number of interview questions for guest Scott Welsh to answer at his leisure. In this show, we ask what it means to “beat the market”? Better yet, how does one beat the market? For Scott Welsh, beating the market means creating a return that is consistently higher than if you just bought and held the S&P 500 Index.

Scott is also asked if he is a trend trader, a counter-trend trader or if making such a distinction is nonsensical. Scott talks about the biggest mistake that new traders make. And he also discusses trading goals. We talk about how long it takes for someone to learn to trade for a living when doing discretionary trading. And of course, Scott “The Coach” Welsh incorporates some parallel metaphors from his years of experience in the tennis world. Oh, and it wouldn’t be a Scott Welsh episode if we didn’t discuss a little robot trading, as well. Join us to hear more!

How to get in touch with Scott Welsh:

Website: scottwelsh.me – Sign up for the weekly newsletter!
Twitter: @swelsh66
YouTube: Scott Welsh Trading. Beat the market – Scott Welsh. New YouTube videos release every Thursday!

Scott’s favorite book: Zen and the Art of Motorcycle Maintenance

Be sure to visit RobTrends.comto learn about Rob’s brand-new indicator and trading system!

Remember, if you want to learn more about cryptocurrency, you can get Rob’s free book at RobCoin.com! Thanks for listening to The Traders Podcast. [click to continue…]

{ 0 comments }

Ep 631: The Genesis of a Traders’ Rap

by Natalie Pyles on July 3, 2018

 

In a very unusual episode of The Traders Podcast, your host Rob Booker talks with the producer Jason Pyles about some of the themes of trading, including the perpetual pursuit of more time, money and influence.

Traders are also commonly subject to disappointment, heartbreak, depression, confusion, anger and self-sabotage. Traders are also full of hope and desires for fast cars and a beach-side life. Rob also discusses the characteristics of traders who “come up hard” by starting out in the traders’ school of hard knocks, so to speak.

Rob also commissions Jason to complete an intriguing task! Using some of the themes mentioned above, Rob hires Jason to write and record a traders’ rap song! Join us to hear more!

Be sure to visit RobTrends.comto learn about Rob’s brand-new indicator and trading system!

Remember, if you want to learn more about cryptocurrency, you can get Rob’s free book at RobCoin.com! Thanks for listening to The Traders Podcast. [click to continue…]

{ 0 comments }

Ep 630: The Clarity That Comes From Disappointment

by Natalie Pyles on June 28, 2018

 

Episode 630 of The Traders Podcast addresses a prominent condition of currency trading: disappointment. In this show, your host Rob Booker and the producer Jason Pyles discuss the clarity that comes from disappointment. We also talk about the way we conduct ourselves in the presence of various people, due to perceived expectations, and how this phenomenon carries over into our trading. For some traders, the way they think about their trading is a direct reflection of how they talk about it with the people in their lives.

And during this show Rob also talks about the unproductive thinking pattern of, “If I could just … then everything would work out.” That way madness lies… Speaking of lies, we also talk more about our favorite topic, self-sabotage! So listen to learn more!

Remember, if you want to learn more about cryptocurrency, you can get Rob’s free book at RobCoin.com! Thanks for listening to The Traders Podcast.

And be sure to visit RobTrends.comto learn about a brand-new indicator and trading system! [click to continue…]

{ 0 comments }

Ep 629: Principles of Trend Trading

by Natalie Pyles on June 27, 2018

 

Welcome to Episode 629 of The Traders Podcast, featuring your host, Rob Booker. During this show, Rob discusses how trend trading is accompanied by inherent weaknesses and obstacles that can’t be avoided. Even so, many traders still believe in trend trading as if it were “a trading religion,” of sorts. In fact, it seems that some traders are unable to imagine a world where anyone wouldn’t want to be a trend trader. So, given its prominence, Rob takes some time to focus on the principles of trend trading.

To chat or debate about trend trading, reach out to Rob on Twitter @RobBooker or text him at 304.281.8332. Or you’re welcome to leave a comment in the show notes for this episode. And be sure to visit RobTrends.comto learn about a brand-new indicator and trading system!

And if you would like to learn more about cryptocurrency markets, you can receive Rob’s free book at RobCoin.com! Thanks for listening to The Traders Podcast. [click to continue…]

{ 0 comments }

Ep 628: The Option Pit in Chicago

by Natalie Pyles on June 19, 2018

 

In Episode 628 of The Traders Podcast, your host Rob Booker travels to the Windy City and catches up with Mark Sebastian from Cboe Global Markets. Rob and Mark discuss the concept of creating a competition for oneself. They also talk about explaining a trading system to another person by writing out the rules and principles. And, of course, this leads to a discussion of about the nature of rules and how they tend to be a way of pointing at what you think might happen. Join us for Episode 628 to hear more!

And if you would like to learn more about cryptocurrency markets, you can receive Rob’s free book at
RobCoin.com! 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 627: Should Traders Follow the Rules or Not?

by Natalie Pyles on June 14, 2018

 

Welcome to a special edition of The Traders Podcast. Here in Episode 627, your usual host Rob Booker is traveling, so Jason the producer welcomes back guest host “The Coach” Scott Welsh! Scott asks a very simple question: Should traders follow the rules or not?

To tease out this mystery, Scott recounts his firsthand experience with a tennis student who followed all his coaching rules perfectly — to the letter. Scott talks about the great success this student found while following the structure that he put in place for her. Jason and Scott also discuss how some people actually ask for strict rules and why those people often do better!

But we also examine the downside to rules: What happens when the rule-maker disappears? What if the rule-follower no longer has problem-solving skills? Scott also spends some time talking about the concept of guidelines, an inevitably, he delivers a verdict on his initial question! But you’ll need to listen to find out more! Join us!

If you would like to learn more about cryptocurrency markets, you can receive Rob’s free book at
RobCoin.com! 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 }