In this episode, Rob Booker interviews “Mr. Automatable,” James Chen, who educates traders and is the director of technical analysis at FXDD in New York City — one of the premier MetaTrader shops.

Rob talks to James about how he got started in trading and how he got his current position; they discuss the other markets that James watches — in addition to forex. Rob asks James about his move from discretionary trading to non-discretionary trading, and how he gravitated toward an automated set of rules. They discuss the possibility of fully automating a trading strategy and whether James prefers longer term or shorter term trading.

As an analyst and an educator, James travels all over the world, so Rob asks him about the places he’s been in the last few months, and they discuss the wonderland that is Singapore. Robs asks where James finds the most growth right now in forex trading, Asian traders versus U.S. traders, and we hear James’s advice for someone who is looking to trade forex for the first time. Tune in!

FXDD: http://forex.fxdd.com/

An expert in automated back-testing, Chris Davison joins us from the UK to give more advice on how to lose money and to discuss the two elements of draw-down: namely, how your system copes with draw-down and how you personally deal with draw-down.

Rob and Chris clarify the difference between risking 1% per trade versus risking 2% per trade, and they give advice on how to get to the point where you don’t worry when you’ve hit a losing streak. Rob brings us another “Dumb Things That Rob Does” segment, and Chris reveals some interesting findings that have occurred during the Wallabot Millionaire experiment.

There’s talk about how to give yourself “an infinite time horizon on success,” differentiating between investing and gambling, and Chris names the reason why he thinks most people lose money trading — and more. Please join us!

Chris Davison’s blog, where he monitors the performance of several automated systems: Chasing Pips

Understanding Draw-Down:

If you enjoy this episode, we also recommend The Traders Podcast, Episodes 1 — 3: “The Commandments of Automated Trading,” with guest Chris Davison:

Episode 1: Automated Trading Part 1

Episode 2: Automated Trading Part 2

Episode 3: Automated Trading Part 3

In this fourth part of four episodes on movies about trading, Rob Booker and Jason Pyles focus their discussion around the trading movie of all trading movies, Oliver Stone’s 1987 classic, “Wall Street.”

With this backdrop, Rob and Jason talk about the temptations and pitfalls of insider trading, the meaning behind “greed is good,” how you know if you’ve got what it takes to be a trader, what sacrifices being the best at trading for a living will require, the price of making a million dollars and why it’s not difficult to make money (if you’re willing).

Jason’s show about how to write songs: The Songwriting Podcast

Jason’s show about horror movies: Horror Metropolis

In this third part of four episodes on movies about trading, Rob Booker and Jason Pyles base their discussion on the 2011 film “Margin Call.”

This topic brings about several unsettling subjects, such as the disparity between what is really happening on Wall Street versus what we hope is happening. Rob and Jason also talk about the various ethical dilemmas posed in “Margin Call”; the theme of living more simply; the business world’s value of employees in relation to their loyalty versus their usefulness; and Rob talks about why we tend to hold on to our losing positions in the market. For the beginners out there, Rob briefly teaches Jason how to sign up for a demo account.

And as mentioned in this episode, for those who wish to learn how film critic Roger Ebert gave Oprah Winfrey her start, read this article: “How I Gave Oprah Her Start” — by Roger Ebert

Jason’s show about how to write songs: The Songwriting Podcast

Jason’s show about horror movies: Horror Metropolis

In this second part of four episodes on movies about trading, Rob Booker invites film critic and producer of The Traders Podcast, Jason Pyles, back to talk about the 1983 comedy, “Trading Places,” starring Eddie Murphy and Dan Aykroyd.

Rob and Jason also discuss how you know when the psychology of the market is going to turn around (or, aka “the G.I. Joe with the kung-fu grip”); whether knowing how to survive on the streets is similar to knowing how to survive in the market; how success in trading is knowing how to withstand pressure; the psychology of desperation and adding discipline to determination; and most importantly — the fastest way to get back as much money as possible after suffering a huge loss. You don’t want to miss this episode!

Jason’s show about how to write songs: The Songwriting Podcast

Jason’s show about horror movies: Horror Metropolis

The next four episodes are dedicated to those who are under the weather or have some extra time on their hands. Rob Booker teams up with the mysterious producer of The Traders Podcast, Jason Pyles, to review four movies for traders while discussing how they reflect upon the world of trading, how accurate they are, and why they’re important for every trader to watch.

For Episode 41, Rob and Jason delve into a documentary called “Enron: The Smartest Guys in the Room” (2005). And not to worry — even though our topical backdrop for the next four episodes is going to be movies, these shows are still about trading. Always trading. So, tune in and make some additions to your Netflix queue!

Jason’s show about how to write songs: The Songwriting Podcast

Jason’s show about horror movies: Horror Metropolis

Rob Booker is joined again by his guest co-host, “The Coach” Scott Welsh, podcasting from Columbus, Ohio. Scott and Rob begin this episode by talking about the importance of knowing what you want when striving to achieve a goal.

Next your trader hosts discuss whether the location you’re trading from affects your trading, and whether you can trade from anywhere in the world (and by the way, where are the greatest places in the world to trade from?). Rob and Scott also consider Las Vegas: Is Sin City the perfect place for traders? Can automated trading enable you to trade from anywhere? Rob lists his favorite trading locations, and he reveals his pick for the greatest city of all time. And if you live in a certain location — which is named in this episode — and you’d like Rob and Scott to come and trade at your home with you for a week or two, then contact us at producer@traderspodcast.com.

Also, in this episode, we introduce a new segment called “Dumb Things That Rob Does,” which pertains to today’s topic.

And finally, Rob concludes Episode 40 with a remarkable epilogue that enumerates the reasons why, exactly, we trade for a living by recounting an unforgettable story about his friend, Mickey — a trader who realized his dreams.

Please leave us a comment, telling us where you trade from and where you’d like to trade from.

Scott Welsh’s Web site: Bossilator.com

This episode is dedicated to Mickey, who successfully did what he always wanted to do.

“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

In Episode 38, Rob Booker talks with co-hosts Raghee Horner and Jennifer Thornburg about how to get a big-picture view of the Dominant Psychology of the Market. Rob asks these ladies what it means to do a five-minute analysis of a financial instrument, and how it plays a part in their decision-making process about trading. Rob also asks if, in the world of stocks, since a financial instrument can move down faster than it goes up, do currencies move down faster than they move up. And The Traders Podcast hosts spend some time talking about Apple and its future. Don’t miss it!

Raghee’s Web site: RagheeHorner.com

Jennifer’s Web site: Jennifer.bz

Rob Booker is joined by co-hosts Raghee Horner and Jennifer Thornburg. This show begins with a discussion of the price of gasoline and how it rises quickly but doesn’t seem to fall quickly. Also, Rob introduces a new segment of cautionary tales called “Dumb Stuff That Rob Does.” Raghee gives some highlights that she taught her attendees at a recent Webinar. And Raghee and Jennifer talk about which trading sessions they enjoy the most, as well as the importance of determining the time of day that you’ll be most successful trading. Join us!

Jennifer on Twitter: @JenTho3

Find Raghee’s book here:

In this second part of two great episodes, your host, Rob Booker, places his co-host, Raghee Horner, in a rapid-fire inquisition that he calls “The Octagon” with Kathy Lien, a director of currency research at GFT and the author of “Day Trading & Swing Trading the Currency Market.” Rob also asks Kathy about the beginning of her career, starting with her early graduation from college to her very first job with J.P. Morgan. Kathy talks about the nature of her work on the FX desk, how she trades “a technical setup with a fundamental kick,” and how she works in a trading partnership with currency strategist Boris Schlossberg. Tune in!

You can find Kathy Lien here: BKForexAdvisors.com

In this first part of two technical episodes, Rob Booker and co-host, Raghee Horner, speak with Kathy Lien, a director of currency research at GFT and the author of “The Little Book of Currency Trading.” Kathy Lien is also famous for her use of the Double Bollinger Bands.

Rob asks Kathy where her inspiration for using Double Bollinger Bands came from, how often these produce trades, what people are talking about when they speak of “yields” on television, and whether the long-term perspective of the forecasting she’s asked to give on TV ever intrudes upon her short-term trades of the present day. Kathy also explains her settings for the Double Bollinger Bands and their various uses. Don’t miss it!

You can find Kathy Lien here: BKForexAdvisors.com

Also, make sure you haven’t missed the BONUS episode we released last Friday!

In this 34-minute, blockbuster bonus episode, Rob Booker has another telephone interview with David Rodriguez, a quantitative strategist who publishes his analysis at Daily FX.com. They talk about the crowd and sentiment, trading against the crowd, trading with the crowd, and an exceptional occurrence with the Euro-Swiss Franc.

Rob also asks David some questions about being on the inside, from the broker’s perspective, as well as asking David to describe how he spends his time during the day between analysis and writing. Rob and David also continue their conversation from Episode 30, delving deeper into FXCM’s Speculative Sentiment Index (SSI), discussing what the SSI tells us about retail traders and their style of trading.

Hear all of this — and so much more — in this special, Friday morning bonus episode of The Traders Podcast.

Follow David on Twitter here.

Here is the fourth installment with our crackerjack panel of Scott Welsh, Rob Wilson, Jennifer Thornburg and Rob Booker. Episode 34 features story time with Scott Welsh — professional trader and pro tennis coach — who tells us about Matt, a 17-year-old tennis prospect with tremendous potential. Our team uses this story to discuss what kind of prospects a trader would have to possess to potentially trade from home for a living; the disconnect between doing well in practice and how we perform when it actually counts; whether demo trading is a waste of time; the benefits of feeling some pressure; and how desire, form and discipline play into a trader’s success. Meanwhile, Commander Rob Wilson still lives in 1972 Newport, Rhode Island, where he still wears short shorts. You get to hear about that, too.

Find Scott Welsh here: bossilator.com

Follow Jennifer Thornburg on Twitter here.

Follow Commander Rob Wilson here.

A must-listen third part of a four-part show, Episode 33 features Rob Booker talking with tennis guru Scott Welsh, the inimitable Jennifer Thornburg and Commander Rob Wilson. This discussion begins with Rob describing how a trading intern of his wanted to conquer his problem of self-discipline because he had become his own worst enemy. Scott talks figuratively about how everybody wants to go to heaven, but nobody wants to die. Rob Booker describes an epiphany he received while running in Torty Park regarding the mind and body and movement and stillness. We discuss how honesty can affect your fear of losing money, what happens when not enough is on the line for you as a trader, and the concept of facing the truth because you don’t have time for anything else. Please join us!

Find Scott Welsh here: bossilator.com

Follow Jennifer Thornburg on Twitter here.

Follow Commander Rob Wilson here.

The second of a four-part show, Episode 32 features Rob Booker talking over breakfast in bed with Commander Rob Wilson, Jennifer Thornburg and Scott Welsh. We continue our discussion on the time, space and force equation; we talk about the importance of respecting the amount you have in your trading account, while considering the age-old question of whether size matters; we discuss what constitutes success; how a trader can make projections about his or her success without being delusional; how to avoid missing that revelatory moment of clarity; how long it takes to “get it” and become a so-called professional trader; and the episode wraps with Rob’s round of rapid-fire questions for panel of co-hosts.

Follow Commander Rob Wilson here.

Follow Jennifer Thornburg on Twitter here.

Find Scott Welsh here: bossilator.com

Episode 31 is the first of four shows that build in co-host numbers and intensity, so you’re going to love these next two weeks of The Traders Podcast. In this first part, Rob Booker is joined by guest co-host Jennifer Thornburg, trading blogger and author of the article, “Sex and Trading,” and together they interview Commander Rob Wilson.

Rob kicks off this show by reading some newspaper headlines to hear how they might affect Jennifer’s and Rob Wilson’s trading for the day. They also talk about adapting one’s methodology to suit one’s personality, and Commander Rob Wilson — the self-proclaimed General of His Pips — explores the analogy of comparing trading to warfare by talking about force, space and time in warfare and how those three factors are the same in trading. He also quotes from the popular book, “The Art of War,” by the Chinese war theorist Sun Tzu, and he discusses the valuable principles of knowing the market and knowing yourself.

Follow Jennifer on Twitter here.

Follow Commander Rob Wilson here.

In Part 2 of the “Wine-Tasting and Trading Strategy” episode, Rob Booker and his guest co-host, Jennifer Thornburg, trading blogger and author of the article “Sex and Trading,” talk by phone with David Rodriguez of FXCM.

Follow David on Twitter here.

Follow co-host Jennifer on Twitter here.

And don’t forget – subscribe to the podcast by entering your email in the box at right on this page.

How do we know when the market is going to turn, or change directions? David has some ideas about that, and as a quantitative strategist and the curator of the Speculative Sentiment Index (SSI) published by FXCM, he is particularly qualified to talk about how he judges market psychology from the numbers that cross his screen every day.

Rob Booker and his guest co-host, Jennifer Thornburg, trading blogger and author of the article “Sex and Trading,” talk over the phone with expert wine-taster, bike-rider and quantitative strategist David Rodriguez of Daily FX.com. In this episode you’ll hear about wine-tasting; an analogy on the making of a good wine and the making of a good trading strategy; the mistake that brand new traders make when creating their trading strategies; and an answer to the question, once and for all, whether one can be cited for bicycling while intoxicated. Join us!

Follow David on Twitter here.

Follow co-host Jennifer on Twitter here.

In this Part 2 with investment advisor Chris Hensel, Rob and Raghee talk to Chris about the concept of “the unique ability” and the benefits of identifying one’s own unique ability as a trader and then leveraging that “edge” to one’s advantage. You’ll also hear Raghee talk about how The Secret has influenced her trading, while Rob lets loose and shares a story about a time when he learned that you can get more with sugar than you can with salt. Trust us — you don’t want to miss this episode!

Rob Booker and his intrepid co-host, Raghee Horner, talk to Chris Hensel, an investment advisor who says he doesn’t want to become a full-time trader. They talk to Chris about why he feels this way, and why Chris says the irrefutable laws of supply and demand appeal to him. Rob and Raghee also speak to Chris about some perks of Point and Figure Charting, and they recommend a book on the subject.

The links mentioned at the end of this episode are DorseyWright.com and Thomas Dorsey’s “Point and Figure Charting.”

In this Part 2, must-listen episode, Rob and Raghee continue their interview with television personality Todd Gordon, a host of CNBC’s “Money in Motion.”

Tune in to hear Todd discuss the Elliott Wave, Rob’s Meeting Melissa Francis Story, what Raghee calls “the hottest three minutes of technical analysis you’ve ever heard,” and how Todd finds balance as a trader with all the other aspects of his busy life.

You can tune in to “Money in Motion” on Friday nights on CNBC at 5:30 p.m. Eastern time, and you can find out more about Todd at cnbc.com.

In this Part 1, must-listen episode, Rob and Raghee talk to television personality Todd Gordon, a host of CNBC’s “Money in Motion.” Our intrepid podcast hosts ask Todd for some background on “Money in Motion,” how he came to be a host on the show, if he gets nervous on the air because thousands of people are listening to him, how his own market analysis affects the way he presents on TV, and most importantly, whether he gets to speak to Rebecca Patterson. If you like this episode, don’t miss Part 2 this Wednesday!

You can find out more about Todd at cnbc.com.

In this episode, Raghee and Rob wax philosophical and uncharacteristically reflective by discussing how traders bring active and passive transformations together to make themselves more hopeful, faithful, courageous and confident about what they do. They also discuss Raghee’s “three C’s” (as well as some unmentionable C’s); how faith pertains to trading; and some words of wisdom from the 1990 movie, “Joe Versus the Volcano.” Listen and weigh in by leaving your written comments below!

Here’s what you’ve all been waiting for (perverts!) — Part 2 of Jennifer Thornburg’s “Sex and Trading” interview, based on her mega-popular, must-read blog post by the same name.

You can read the original sex and trading blog post here:

at her Web site: jennifer.bz

And you can folllow her on Twitter here: @JenTho3