Episode 279: Every Day People Are Doing Things That Other People Think Are Impossible

by robbooker on August 11, 2014

Play

In Episode 279 of The Traders Podcast, your host Rob Booker begins with a quote by Matt LaCoco: “Every day people are doing things that other people think are impossible,” which Rob says includes trading for a living. Rob talks about a few brief stories from other traders, and he talks about how to do the impossible. Rob also talks about the underdog hero story and how we’re addicted to it. Thanks for listening.

Links from this episode:

Get our Traders Podcast App for iPhone

Get our Traders Podcast App for Android devices!

Rob Booker.com

RobBooker.com/mail

Call and leave us a voice mail: (801) 382-8789

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 }

Brian F. August 11, 2014 at 3:49 pm

1) “Every day people are doing things that other people think are impossible”

From what Rob has said about Matt, and Matt’s own words, I’d change that saying to: “Every day, Matt is making simple what other people are making impossible.”

2) It’s easy to trade for a living, you just have to compound your account with small wins long enough that your set living expenses are small in comparison to those small wins. That takes time, but time is free.

3) Trolls: People are deluded. We look up to hedge fund managers even though hedge fund managers just invest in the same hot 100 stocks as all the other managers and don’t do the kind of trading small retail traders do. We look up to former pit traders even though most of them couldn’t make the transition to retail trading. We look up to the biggest trading authors, but when you think about it, the authors with the most titles probably spend the least amount of time trading, and definitely have the most students who lost on their advice.

I look at it this way, the fact that Rob openly shares his failures and changes his mind about things proves he’s still a real trader. You don’t go to the hedge fund manager to learn how to trade for the same reason you don’t go to the owner of a sewage treatment plant to learn how to be a plumber, you need someone who does the same type of job to teach you, YOU NEED A SMALL RETAIL TRADER. The people who won’t teach you trading NEVER discuss their losses, and NEVER change their minds. That kind of evolution in thought comes from trading and thinking, not talking. These types like to drop names, and fill thier web sites with pictures of gold bars, tropical locations, and girls in bikinis (but if you added the girls, I wouldn’t complain). I don’t see that kind of stuff here. The people who can’t teach you wouldn’t dream of having their friends come on their show and razz them, because their image is everything, that’s all they have. I said it before, I’ll say it a thousand times, losers crave what makes them lose. If you don’t crave turning process into small amounts of profits, you are trading for the wrong reasons.

So the very reasons some people may find Rob trollable are the reasons I find him credible. I’m interested in what he has to say, because he’s doing what I’m trying to do.

Reply

Pablo August 12, 2014 at 4:56 pm

Great episode, especially when Rob talks about having a vision and deleting choice! Very inspiring, thanks for your time!

Reply

Leave a Comment

Previous post:

Next post: