Episode 141: One Weekly Inventory, Two Trades Per Day and 17 Weeks of Consistency

by robbooker on April 15, 2013

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Duane Hope and Rob BookerFor this episode of The Traders Podcast, your host Rob Booker and Bradley Fried talk with Duane Hope of Aurora, Colorado (pictured with Rob). Duane is a remarkable person who says organization and consistency did not come naturally for him, and yet he is now a very disciplined and successful trader, with 17 weeks in a row of consistent trading performance!

Duane believes that reporting his pips daily gives himself a disincentive for following his rules. So, Rob and Brad talk to him about his practice of taking a personal accountability inventory at the end of each week, as opposed to each day. They also discover that Duane limits himself to just two trades per day.

Rob talks to Duane about his favorite and most inspirational books and authors, including American author and personal success guru, Napoleon Hill. Rob also asks Duane to share how his faith in God and the Bible have informed his life as a trader. Tune in and join us — you’ll like it!

LINKS FOR FOLLOWING ROB’S TRADE-FOR-A-LIVING TOUR:

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Other links:

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{ 9 comments… read them below or add one }

Jeff Hacker April 15, 2013 at 2:33 pm

This was a great conversation that inspired me. This kind of trading interview is what I was hoping for from this roadtrip adventure. It went all over the place, but I really liked that.

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Cam April 15, 2013 at 7:53 pm

I agree with Jeff’s comments! Good interview and have taken a couple of really key points away from the interview. Really Appreciate it!

One negative for me is the amount of books you recommend. I simply cannot keep up with reading them all and my wife is starting to complain that I don’t pay the family enough attention. She just doesn’t get it when I say it’s all Robs fault. Who the F### is Rob! hahahaha

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fxoutlier April 16, 2013 at 11:25 am

Excellent stuff Rob. Duane should write a book himself for traders and you should publish it. There was so much I got out of this that I could have listened to so much more. The way you picked up on the points he made, was brilliant. Write a book together!

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robbooker April 16, 2013 at 6:04 pm

FXOutlier, I am so happy to hear that. I am encouraging Duane to write that book. He has started to work on it.

Thank you for listening!

Rob

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TG April 16, 2013 at 5:23 pm

I just found your website and I totally Love it!!!

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Scott (theecohouse) April 17, 2013 at 9:23 pm

This was a great episode! I love the consistency piece.

My take away form the episode “Consistent action leads to Consistent results”

Keep up the great work guys

Scott

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David Pullen April 18, 2013 at 1:03 am

Great podcast guys, and the whole consistency thing is foremost in my battles as trader at present. Loved the discussion around that. I have recently even been changing the questions I ask myself at the end of each day to each day to check how I have traded!!

In fact this episode reminded me to go back and listen to something Scott Welsh had talked about in Episode 33. Paraphrasing he suggested:

” you should ask yourself these questions out loud, because once you hear yourself saying them, you have a better chance of considering, then answering honestly”

thanks as always, Dave

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Lisa Van Meter Perry April 18, 2013 at 11:49 am

Great podcast! I, too, struggle with consistency. I’ve been inspired by Duane to re-write my own Rules and do a better job of sticking to ’em.

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John Martens April 23, 2013 at 8:20 pm

Wow Rob, one of the most inspirational episodes you have ever done. Even though I amnot very religious I was moved by how he describes the role that the Bible played in his life. Makes me question my own beliefs that are holding me back sometimes.

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