Episode 275: Trader Tech Mailbag

by robbooker on July 28, 2014

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Episode 275 of The Traders Podcast is an epically long geek show for anyone who’s bananas about trading technology. This is a special mailbag episode where we read through the hi-tech setups of a few of our listeners.

Your host Rob Booker and the producer Jason Pyles begin with a short movie moment, where Rob and Jason talk about some of the latest cinematic offerings, such as “Lucy,” “Dom Hemingway” and “Snowpiercer.” Next Rob talks about progression and growth as traders, and how often we should change and adopt new systems in the name of progress.

Then we move on to the Main Event, where we discuss e-mails and comments that describe the technical setup of the following listeners: Dr. Valenzuela; Corporal Forex; Ryan, the Lover of Technology; Dave; Allie; RichardHK; Brian F.; Derek in the UK; and John in “miserable Melbourne.” Oh, and there’s also a little after-show content, where Rob makes fun of Jason’s cell phone. Don’t miss it — we had a great time!

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{ 10 comments… read them below or add one }

Erik July 28, 2014 at 4:48 pm

Vodka helps me sleep. Wait, does sleep and passing out mean the same thing ?

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Brian F. July 28, 2014 at 7:53 pm

I’m long past buying the bragging computer. I won’t tell you what I paid for my 8088, my Mac SE, or my first Pentium. Tracy is the scalper, not me. So when she needed a new computer, I got her one that would handle her graphics needs, AND be as fast as possible for scalping. The reason is simple, fills are increasingly more important as you move down the spectrum in time frames.

1. There’s a lag between Chicago and home. The price you are seeing is not the price.
2. There’s a lag in your process
3. There’s a lag in your execution
4. There’s a lag in upload.

The person further in the line gets the fill, everybody else pays a less favorable price. A less favorable price, or not having your limit orders execute is costly over time.

Best practices: Run a speed test each morning, then restart your modem (for a full minute) and THEN rerun the speed test. I’ll let you see the results for yourself.

Hey Rob, with 500k+ downloads, I’d be very interested in a cast where your listeners share their best practices.

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fxoutlier July 29, 2014 at 9:22 am

Another great episode. Another top comment by Brian and another super blog post about inventory management from Shonn. I’ve just been back to episode 143. I don’t know how I missed it. I like the idea of a flow chart whilst in a losing trade to guide decisions but find the trading without a stop concept difficult to grasp. I hope you get Shonn back on the podcast as well as Brian and perhaps Brian has finished writing that book he commented on after 143. If not how about letting Rob publish it. I’m hoping Duane from 141 will also finish his book also.
I’m off work on holiday, staying at home, reading books, listening to back episodes of podcasts and other trading stuff. Just watched a 5 month old 70min video of an interview with Rob Wilson on his Bitscan and trading with Haroun Kola, after reading Robs 5 bullets again. I might go back and listen to the breakfast in bed episodes 31 32 33 with Wilson and friends next. Lucky all this stuff is free. Cheers Rob and Jason for 275 great free episodes.

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Brian F. July 29, 2014 at 3:56 pm

Stops: Egad! Was that me who said don’t use a stop? I probably meant the following:

There are different types of stops for different uses. For example, I categorized stops into emergency stops and trade management stops. An emergency stop is one wide enough that it shouldn’t ever be triggered, but you place it anyway in case, for example, Mr. Whiskers jumps on your keyboard. NEVER trade without at least an emergency stop. A trade management stop is one which is employed with the intention that it will take you out of a trade. Obviously, these are tighter. That presents a problem under conditions of volatility where you can be shaken out repeatedly if you don’t widen them or get rid of them altogether. Sizing down under these conditions allows you to manage risk.

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chris July 29, 2014 at 11:40 am

I tought this would be about trading and market sentiment but all I hear is talk about computers, movies, to much small talk guys!

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Brian F. July 30, 2014 at 1:10 pm

“I tought this would be about trading and market sentiment but all I hear is talk about computers, movies, to much small talk guys!”

Oh I don’t know about that, trading is such a rich topic, you can find a trading lesson in just about any topic of conversation, and that wasn’t a representative sample. More importantly, those other pod casts that stay on script do so because the script is intended to impress you, manipulate you, and then sell y0u something, not teach you something. That’s why the snake oil salesmen always end their travelling show after a dozen or so casts, they run out of suckers.

Where else on the web can you get 275 free lessons on trading from a guy casting in his undershirt and boxers? The small talk about hot yoga (or was that hot yogurt, yuck!) is not only entertaining, it establishes their bona fides as real people, real traders, and concerned teachers.

It sounds like you haven’t listened to many of the casts, which makes me kind of jealous, because you are in for a treat.

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Gia July 29, 2014 at 4:08 pm

Love the show,
For the tech talk

I work with eztradingcomputers.com the guy who owns the company is a trader and builds the computers to your needs, desktops have more power but the laptops rock. The staff is great to talk to because the understand us and I geek out with them everytime.

I need no more than my laptop & fxcm, For my phone I like the trade interceptor app it has great charts. Keep it real simple.

Stay with the movie reviews. Being a trader I love that I get to go on brain freeze and enjoy a good movie. Going to the movies is defiantly posted in my job description handbook on page 2 after put the trade in , walk away and let it rock out.

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Erik July 30, 2014 at 1:14 pm

RE: Tech

What I would love to have is a wireless monitor or two for my laptop, could you imagine multi-wireless monitors for the laptop and no F”ing HDMI or VGA cords !!

OMG That would be AWESOME !!!

If they dont have one out already, can you PLEASE have Rob make one for me,
{power cord is ok }

Thanks a bunch,
Erik

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Serge August 4, 2014 at 8:18 am

Hi guys
I love to keep my trading as simple as possible. I have a number of different set ups, however I subscribe to Bruce Lee’s philosophy to “trade like water” (Of course Bruce Lee did not say “trade” he said “be” but you get my point. I am sure if Rob were to be around podcasting when BL was around, he would have converted him!)… .

In an nut shell :

0. I run a VPS. MY BEST MOVE EVER. it is what I love to call “cheap money”. Set and forget. Don’t do anything other than real money trading on the VPS. I run Jennifer’s Robot and KD/Trifecta trades only.

1. The home “throbber” is a Lenovo Y510 laptop, running dual 24″ monitors. Honestly, when I set up a year ago this was my trading style (many monitors, heaps of screen realestate; no need to do so now). I access MT4 (from FXCM) via remote desktop. It makes zero difference if I run Windows 8.1 or Linux!

2. Mobile set up :
a. iPad – Running 2X to my VPS. I use this when I go to lunch and want to check my trades (or to see if there is a KD setting up). In addition I run MT4 on my iPad. Very cool.
b. Android phone, running 2x, as well as MT4, this allows me to kill a trade if I have to. Used it only once to kill a trade. I subscribe to the philosophy of “don’t mess with it”. Phone also gets Rob’s SMS from the USA (I live in London). In addition to that, I have set up the KD indicator to alert me when divergence is identified so I can respond as quickly as desired.

I have a number of other access points (Mac, Work computer, wife’s Mac, etc) but they all end up being the same thing. A remote desktop access to my VPS. This way life is simple. I need to remember a username and a long password and I’m in. After that I only need to battle me and not the tech.

The ONLY downside to this set up is that to do back-testing I need to either have all the stuff installed on one computer or alternatively pay more for higher processing power on my VPS…..#FirstWorldProblem

Keep up the great work boys!

PS: I cycle to work, and that is when I catch up with all my favourite podcasts like Traders Podcast and the Doughnut show (currently in re-run mode!!!). So people often think I am a nut case when I pull up at the lights and laugh my head off at all the stuff you guys are saying.

Cheers
Serge

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RichardHK August 12, 2014 at 6:50 am

Rob, Jason,

Not strictly trader tech unless it’s the technology moving our favorite trader around the country, but…

Rob comments now and again on his Toyota Prius. That’s one bit of wonder tech I am wanting to get into, literally. Could Rob tell us his thoughts on the machine given his long experience? How does it perform on those cross country drives in particular? Does its performance stay the same after driving long distances on flat terrain for example?

Best regards,
Richard

PS. PC tech-wise I installed a new uninterruptible power supply (UPS) recently and was amazed to find the power consumption of my high end machine (without a display card) and its 2x 22″ monitors is only 150 watts. I found this out before buying UPS using a cheap plug in poqwer measurement device. So don’t let the sales guys sell you big heavy UPSs or other junk you don’t need. Get a power measurement device first and see what your PC uses _before_ buying a UPS. My APC Back-ups Pro 550 is perfect.

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