Episode 272: Making Decisions Ahead of Time Prevents Under-Pressure Mistakes

by robbooker on July 16, 2014

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For Episode 272 of The Traders Podcast, your host Rob Booker is broadcasting from the happiest place on Earth: Disneyland in Anaheim, California. Rob begins by listing all the things he did not learn while at Disneyland. Then Rob suggests that you don’t learn much about trading from trading. He discusses the contrast between our lack of perspective while in the midst of a learning experience (such as trading), versus the insights that come after having passed through said experience.

Rob also talks about the benefits of making your decisions in advance, in order to avoid confusion when the pressure is on. Rob wraps up this show with some ideas for improving your trading by explaining what he does to keep himself in line. Be sure to subscribe to The Traders Podcast — free in iTunes — and thanks for listening.

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{ 2 comments… read them below or add one }

Dave Vaughan July 21, 2014 at 5:31 pm

Hi, Jason and Rob:
100% with you, on the confict issue!
No-one has the right – God given or else – to massacre innocent children.
But, “what goes around, comes around”: they, will, pay the price, for this hatred.

Reply

Brian F. July 21, 2014 at 6:52 pm

Hi guys,

While commuting into New Orleans, I heard Rob say the act of trading doesn’t teach you anything. That cracked me up because it’s so true, and being surrounded by thousands of people who’ve commuted their whole lives and still can’t drive didn’t hurt in conveying the message. You can trade the wrong way for seven lifetimes and still not know how to trade.

Trading is a cruel pursuit, always seeming so simple while it keeps the goal just out of reach. I wouldn’t say trading is such a bad coach, I’d say trading is a cruel coach. He praises the wrong thing at the keyboard, misleads, and confuses. Then, he invites his favorites into his secret classroom for some real instruction. That classroom is a well kept journal. Keep good records, and get a good education. Learn at the keyboard and get no education.

I’ll say one thing in defense of Professor Trading, he gives everyone exactly the grade they deserve.

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