Episode 288: How Traders Can Be “Hungrier” (Without Being Dishonest)

by robbooker on September 10, 2014

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In Episode 288 of The Traders Podcast, your host Rob Booker tries out his new Microsoft Surface and gives us a report on how he likes it. This leads Rob to a conversation about companies that seem to be hungrier than their competitors — stopping at nothing to be a force to reckon with in the marketplace through extreme tactics and sheer desire. Rob talks about what happens when a trader becomes similarly determined and committed. As an example of a hungry trader, Rob cites Traders Podcast listener Calvin. Next Rob lists what traders can do to be “hungrier,” without being dishonest. You won’t want to miss this one! Join us!

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Rob recommends Matt LaCoco’s 5 Principles for Trading for a Living With a Small Account

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{ 2 comments… read them below or add one }

Brian F. September 15, 2014 at 2:55 pm

How can a trader exhibit “hunger?” I see three choices:
a) Increase position size / leverage, or
b) Hold longer, or
c) Increase trade frequency

My recommendation would be choices b and c. Forget about a, most traders are already trading too big, they just don’t know it.

How do you hold longer? Set it and forget it (trade smaller with wider stops).

That leaves answer c. How do you increase trade frequency? 1) Adopt additional set ups, nobody says you have to use one set up. 2) In fact, nobody says you need to use one system. If your system doesn’t give you enough trades, better to adopt a second system, preferably something simple and easy to administer, than to MAKE your existing system do something it’s not cut out to do. 3) Finally, trade on more than just one time frame. It’s friggin tough to earn a living scalping.

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Fredrik Elmqvist September 17, 2014 at 1:46 pm

Hi,

Funne coincidence. when you spoke about Microsoft Buying Mojäng you in the same sentence mentioned Skype which is the other Swedish startup that Microsoft bought. I’m just waiting for Spotify to join the trio of MS Bought companies 😉

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