Episode 173: Trading Is Not an Ice Cream Cone

by robbooker on August 5, 2013

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In Episode 173, your host Rob Booker begins with a reading of Robert Frost’s “The Road Not Taken,” a poem that Rob says has a direct application to trading. So, Rob uses this poem as a launching point and explains a few valuable lessons to benefit any trader. During the course of this discussion, Rob talks about phenomena such as the way most traders don’t hang on to their winners — or perhaps more accurately —most traders don’t have a profit target.

Rob says he’s infuriated by an epidemic of not focusing; he says it’s time for you decide what you’re going to focus on — including what kind of trader you are, and what kind of person you’re going to be in the market. Rob talks about being afraid of what’s to come on your path up ahead. Rob says “The Road Taken” is the “fun” road, but trading is not supposed to be fun. Trading is not an ice cream cone. And Rob closes with a list of what trading is (and what it is not). Good stuff — listen!

Links for this episode:

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

E-mail us! Producer@TradersPodcast.com

{ 3 comments… read them below or add one }

Scott (fatbeetrader) August 5, 2013 at 9:43 am

Rob & Jason
I totally agree with this, the ONLY time I get myself into trouble with when I let my winners run. Stupid Cliche! That rule is a sure fire way to turn a $1000 gain into a $2000 loss.
When it comes to trading, quick is best, boring is second best if its too much fun, you may be doing something wrong 🙂
Talk soon Scott

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Joe August 6, 2013 at 1:29 pm

I have been struggling with this forever!!! I seem not able to settle on one methodology.
This is a GREAT podcast

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Kevin August 8, 2013 at 8:34 am

So what you saying, is that ‘Bob’ Frost was a divergence trader?

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