Episode 235: Losing Money and the Jesse Livermore Mentality Toward Risk

by robbooker on March 10, 2014

Play

As a follow-up to Episode 234 of The Traders Podcast, your host Rob Booker talks about the unsavory topic of losing money. He also talks about riding out your losses (strategically) and the Jesse Livermore mentality toward risk. This is an episode about traders for whom the money isn’t as important as The Game. Rob says this is a financially perilous approach to trading that can end disastrously, but it can also be a way to make some big profits. If this mentality isn’t for you (and it’s not for most people), we think you’ll at least find it entertaining to hear about it. Thanks for listening!

Rob encourages you to check out his Trifecta Trading System for day trading

Other links for this episode:

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

TFL365.com

E-mail us! Producer@TradersPodcast.com

Trader Interviews.com

{ 2 comments… read them below or add one }

Scott March 10, 2014 at 11:34 am

“you have to be confident even when you are at a loss, you have to be at your most confident when you back is all the way against the wall”

Great Insight!

Reply

Nate March 10, 2014 at 2:22 pm

I loved this episode!

I’m not sure I could stomach this type of trading. I know that there are others that do it and clean up with it. I would guess the secret for this style would be to stay very small and plan on averaging in if you’re going counter-trend. But that would just be a guess.

Reply

Leave a Comment

Previous post:

Next post: