Episode 39: Moving to Break Even

by robbooker on April 23, 2012

Play

“The Coach” Scott Welsh returns to The Traders Podcast to engage in a little banter with Rob Booker about trading on Macs versus PCs. Then Rob introduces a new segment called “Jennifer Asks a Question,” in which they discuss traders who seem to perpetually move to break even.

Adding Jennifer Thornburg to the conversation, the three traders also discuss dealing with the naturally occurring frustrations associated with trading, whether it’s more advisable to play it safe or to play aggressively, a secret for knowing “when you have arrived” and are becoming a successful trader, and they discuss whether you’re still a trader if you’ve automated your system.

These tidbits and more can be heard in Episode 39 of The Traders Podcast. Give us a listen!

Scott Welsh’s Web site: Bossilator.com

Jennifer Thornburg’s Web site: Jennifer.bz

Jennifer’s Twitter: @JenTho3

{ 2 comments… read them below or add one }

Robert Condon May 31, 2012 at 4:17 pm

I’m surprised that no one mentioned the strategy of setting an intermediate target and an ultimate target, trade in even lots; Take half at the intermediate target ( I use a percentage of ATR) and then move to B/E.
Something I also do, is not use B/E but a +1 or 1 1/2 pips.

Reply

robbooker May 31, 2012 at 4:38 pm

Robert, thank you for the comment and thank you for listening! You’re right – we should have mentioned that as a Money Management technique!

Reply

Leave a Comment

Previous post:

Next post: