Ep 559: What if You Could Watch Live Trading in Real Time?

Good morning and welcome Traders Podcast listeners. Imagine if there were a website where you could watch others trade in real time… Not like a webinar, but more like a live reality TV show. Well, in Episode 559 of The Traders Podcast, that’s exactly what Rob Booker and the producer Jason Pyles talk about, among other things. We’re happy you’re joining us!

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Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker

Rob on Twitter: @RobBooker

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Trader Interviews.com

Be sure to catch up with Scott Welsh at his Website
and at Twitter

Hear Jason’s movie podcasts:
Movie Podcast Weekly where we review new movies in theaters.

Horror Movie Podcast where we’re Dead Serious About Horror Movies.

Movie Podcast Network a group of eight film-related audio podcasts that cover various movie genres.

Full Episode Transcript:

Rob Booker: When is your meetup?

Jason Pyles: It’s October 14.

Rob Booker: I really gotta plan ahead on this. I think I already bought my ticket for it and I haven’t even-

Jason Pyles: Yeah, that’s awesome.

Rob Booker: Where is it gonna be?

Jason Pyles: Yeah, it’s gonna be fun. It’s gonna be in Salt Lake City.

Rob Booker: I gotta come to this.

Jason Pyles: And I’ll tell ya, I mean yeah, if you’re gonna be in town, that Friday the 13th, we’re gonna hit a couple movies that day. And then the next day, Saturday, we’re doing the screening. That’s the actual formal event. And then we have a director coming in, we’re gonna do a Q&A. It’ll be really fun.

Rob Booker: Why do I get the feeling that you’re gonna go see a scary movie on that Friday?

Jason Pyles: I think, let’s see, one of them is Jackie Chan action movie, it’s The Foreigner.

Rob Booker: Okay.

Jason Pyles: And then the other one is called Marshall. Yeah, I don’t think there are any horror movies out that Friday, unless I’m wrong. I mean it is October, so they’ll probably be something by then but-

Rob Booker: All right.

Jason Pyles: But there will be a couple non-horror that you could hit with us if you’re around.

Rob Booker: Okay. That sounds great. I really hope to make this. This is really-

Jason Pyles: It’s super fun to go with the listeners, like to a movie. It’s really neat. It’s so funny.

Rob Booker: There’s nothing even similar to this in the world of trading. Nothing.

Jason Pyles: Really? Okay.

Rob Booker: You can’t go to a trading together, you know what I mean?

Jason Pyles: Okay, yeah.

Rob Booker: Are we recording by the way?

Jason Pyles: Yeah, it’s recording.

Rob Booker: Okay. This is the best part about working with you. It’s the greatest part ever, it’s the best thing ever.

Jason Pyles: Oh, thanks.

Rob Booker: So what is the equivalent in the world of trading to, and could something be structured to produce that same, cause going to a movie together, right, you go to see it and then you get to talk about it with people who love to talk about it, right?

Jason Pyles: Absolutely.

Rob Booker: Does anybody talk during the movie?

Jason Pyles: Oh, no. They know all my rules about going to movies cause we talk about it all the time. And so they even giggle about that, all that stuff.

Rob Booker: Can I hear these rules? I need to know these rules.

Jason Pyles: Well, I mean it’s just like for example, I prefer to sit in the top back row, center, in the middle.

Rob Booker: Okay.

Jason Pyles: And not everybody does that, so these other movie buffs who came to our last meetup, they were texting me and making fun of, like, the top back row sucks. And one guy was sitting beside me and he’s like, I’m nervous about even moving in my chair cause I know how particular you are. I’m like, Oh come on. I’m not. You know, they think I’m this Nazi about it, but I’m like that’s right. It’s just funny.

Rob Booker: Oh my gosh, that’s pretty great.

Jason Pyles: Yeah, they know me a little too well and it’s kind of embarrassing.

Rob Booker: Oh my gosh. Okay, so that’s one of your rules. Any other rules that we need to hear if we go to the movies with you?

Jason Pyles: Well, if we’re gonna be at like a ridiculous, okay, so one of my pet peeves since I sit in the top back row middle, is when people come in a little bit late and that’s fine, but their seat, cause in Utah, you pick your assigned seat. You actually know where you’re sitting ahead of time and when they come in the theater and they are actually sitting on the left of me, but they decide to enter from the right, so they walk in front of everybody in the row, rather than just coming up the other side and going directly to their seat. That kind of bugs me, but, I know. First world problems, Rob.

Rob Booker: Oh, this is good stuff. I really enjoy, that’s pretty much my favorite moment.

Jason Pyles: My neurosis, yes.

Rob Booker: All right, so back to the world of trading. We welcome everyone here to Trader’s Podcast, Episode 559. What would be the equivalent? So watching someone live trade a big trading account, that would be kind of the equivalent, and then discussing it afterwards.

Jason Pyles: Mm-hmm (affirmative)-

Rob Booker: Someone should make a, do you know these websites exist where people can watch other people play video games?

Jason Pyles: Oh yeah, yeah. There’s a lot of, I don’t know, Rob. I don’t know.

Rob Booker: Right. Okay, exactly. I mean I feel, my kids though, they watch it all the time. I mean they’re obsessed with it.

Jason Pyles: Really? Really, that’s interesting.

Rob Booker: Oh, it’s so popular.

Jason Pyles: Well, that makes sense. You know, it’s like okay, you want to learn how to do something so you’re watching someone who can do that thing, right?

Rob Booker: Yeah. I mean I could even prepare a clip for you of one guy playing, I used to watch this guy, b-double o-b dub or whatever he called himself, he was pretty funny. He used to play Sim City and it was, I can’t believe I’m gonna admit this, I would watch this guy on YouTube play Sim City.

Jason Pyles: Wow, nice.

Rob Booker: I wonder if there’s a market for this in the world of trading. I’d love to hear from everybody that’s listening to the Podcast in the show notes of Episode 559 of The Trader’s Podcast at traderspodcast.com. And we would love to hear from you. Wouldn’t that be a practical thing? Could you imagine a website built where there was just live video, streaming video, of people trading?

Jason Pyles: Neat.

Rob Booker: And commentary on it. And then those videos were then saved and archived.

Jason Pyles: Now see that makes a lot of sense to me because you’re demonstrating, I don’t know, I see a difference there. Because you’re demonstrating, okay in this scenario, I’m looking at these indicators, or I’m looking back and there would be a lot of reasons that you draw your conclusions that you could explain in that situation. And I think for me, the reason I’ve personally never gotten a lot out of the video game thing is because I can’t necessarily see what their hands are doing. It’s like okay, how are you doing that? Maybe it’s a direction. I know which direction to go but, so I think it works better for some mediums than others.

Rob Booker: Okay. All right, I like that. That makes sense to me. So what if that also, what if there was a camera on, yeah, so there’d be a specific emphasis in this website on what they were doing showing it, but then why they were doing it.

Jason Pyles: Yeah. Yes.

Rob Booker: Yeah, that’s pretty great. That’s a great idea.

Jason Pyles: Now you’re talking.

Rob Booker: And it would be different than these live trading rooms, like a webinar. That’s not the same thing. I’m talking about a website where there’s like 10 different selections and you could watch any one of 10 different traders trade stocks or penny stocks or options or currencies or whatever and it would be ongoing right now.

Jason Pyles: Neat.

Rob Booker: And it would be, it wouldn’t necessarily be interesting all the time. You might see that person sitting there drinking a cup of coffee, waiting.

Jason Pyles: So like a Truman Show of trading kind of.

Rob Booker: Yes. That’s exactly what I’m talking about. And there’d be some commentary maybe from time to time, but that would be one thing. Or you could do one where there was a row of desks and there’d be a certain stock trader, options trader, currency trader, futures trader and a moderator. And they’d be maybe competing every day and you’d go from one to the other and say, Oh, Jeff is seeing something right now, let’s take a look and see what he’s doing. And that’s different than, once again, it’s different than a webinar. The live action quality to it, that sports broadcasting. And remember, people watched people play poker on TV.

Jason Pyles: Oh yeah.

Rob Booker: That made it all the way to ESPN.

Jason Pyles: People watch people play golf, Rob, for heaven’s sake. Right?

Rob Booker: Do you know what they do in Texas instead of playing golf?

Jason Pyles: What is it?

Rob Booker: I’m not even making this up.

Jason Pyles: Okay.

Rob Booker: They go shoot shotguns.

Jason Pyles: Oh, nice. Okay.

Rob Booker: On a range. Like you get a cart and you put your gun in the cart and you put your shotgun shells in the cart and then you drive on the range, you stop, you put your little key card in the box, shoots out a clay thing and then you shoot at it.

Jason Pyles: I love Texas. That sounds exactly like a Texas thing.

Rob Booker: It is so awesome too. I took Robbie out there to do it. It’s right down the street from my office.

Jason Pyles: Cool. That sounds amazing.

Rob Booker: Yeah. And so I walked up to the guy at the desk and I said, I’m just gonna be honest with you, I haven’t shot a shotgun since I was in Boy Scouts, you know, seven years ago. Just kidding, long time ago. So I don’t know what I’m doing, but we still want to shoot guns and he’s like, Do you feel like you could safely operate a gun and click the safety button? I’m like, Yeah. And he’s like, Okay, here’s a shotgun.

Jason Pyles: Perfect.

Rob Booker: I mean like, whatever. Yeah. Anyway, and that’s what they do. They go around and they shoot at things. But back to the other point. This is a, there’s something to this idea where the live action quality to it, where there’s commentary, discussion and there’s interaction between a host and a, there’s something to this and maybe a, I don’t know, that would really, I think that would come off really well. And it could even be once a week to start. I should just do it.

Jason Pyles: I definitely think you should. I mean it reminds me, for some people this is a dirty word, but I think it’s cool. It reminds me of a trading reality show. A trader’s reality show.

Rob Booker: Yeah. Right. Which is what I, I’ve wanted to do that for a long time.

Jason Pyles: Yes, you have.

Rob Booker: And I just can’t seem to, you know, you gotta have, we just did a podcast about this for the Marketing Podcast Weekly, but sometimes it’s easy to get bogged down on the details and not just do it.

Jason Pyles: Right. Yeah.

Rob Booker: And not just go for it, just stop thinking about it and just do it. Like stop making it into a big production and just do it.

Jason Pyles: Yeah. I agree. I think you should, Rob. I’m always entertained by your projects.

Rob Booker: Oh my gosh, that’s pretty funny. Yeah, it’s easy to get bogged down on the details. Do you ever see that guy that, the movie, Craigslist Joe?

Jason Pyles: No I haven’t seen that actually.

Rob Booker: Oh, okay. It’s, I think he made it for Netflix. Back in the day you could actually make a movie and then upload it to Netflix, you could literally upload it to Netflix, like literally upload it to Netflix.

Jason Pyles: That’s amazing. Wow. Okay.

Rob Booker: You could just log in and you could upload it. And this guy made a video, with a reasonably okay microphone and a shotgun microphone and a shotgun light and a reasonably inexpensive camera, and he lived for a month off of Craigslist basically, I can’t remember how he did it but it’s a memorable film cause he sells everything and then he goes out on the road and he only gets by in life through Craigslist. Everything is done through Craigslist.

Jason Pyles: Right, okay.

Rob Booker: And makes a whole movie about it.

Jason Pyles: Yeah. I’ve heard of this.

Rob Booker: It’s like a one camera movie that he made by himself and it got on Netflix. And I’m sure it’s been viewed millions of times.

Jason Pyles: Yeah, for sure. That reminds me of the Super Size Me movie. The guy that lived off McDonald’s for a month, see what it did to his body.

Rob Booker: Yeah, where his liver almost failed.

Jason Pyles: Yeah, exactly.

Rob Booker: Do you know, have you heard about his new movie?

Jason Pyles: Morgan Spurlock, what’s his latest?

Rob Booker: So, it’s a sequel to Super Size Me. I’m surprised you haven’t heard of this.

Jason Pyles: What is it?

Rob Booker: This is great. Documentary film, this is from eater.com, like eater E-A-T-E-E, whatever. Documentary filmmaker, Morgan Spurlock is gearing up to debut the sequel to his wildly popular 2004 movie, Super Size Me and this time around he’s taking on the chicken industry.

Jason Pyles: Oh, okay.

Rob Booker: Supersize Me 2: Holy Chicken! will focus on Spurlock as he opens his own fast food restaurant. Presumably the fast food restaurant in this film is Holy Chicken!, the four-day fried chicken sandwich pop-up that Spurlock opened in Columbus, Ohio last year.

Jason Pyles: Interesting.

Rob Booker: Yeah. So I actually think that this may be his best movie. It just debuted at the Toronto Film Festival, which kicks off, kicked off, it already kicked off.

Jason Pyles: Mm-hmm (affirmative)-

Rob Booker: What happens at the end of something that you kicked off? You kick it on?

Jason Pyles: Yeah. That’s a good question.

Rob Booker: You kick it out?

Jason Pyles: Right. I don’t know. Interesting.

Rob Booker: That’s interesting. Completely unrelated but because I saw the name James Franco on this website, I tried to watch the first episode of The Deuce-

Jason Pyles: Oh, okay.

Rob Booker: Starring James Franco. Made, basically written and I think the first episode was directed by the creator of The Wire.

Jason Pyles: Yeah, David Simon. Yes.

Rob Booker: It was just terrible.

Jason Pyles: Was it terrible? I’ve been curious about that.

Rob Booker: Yeah.

Jason Pyles: I’m glad to hear.

Rob Booker: It’s just a giant bag of beep. Like it just, if you want like a really great lesson in the male anatomy-

Jason Pyles: Oh, yikes.

Rob Booker: And specifically like, giant males, just hairy men, like you want to see all their body parts, that’s the show for you.

Jason Pyles: Oh, wow. Okay.

Rob Booker: Yeah. Holy Moly.

Jason Pyles: Not necessarily what I was looking for, Rob.

Rob Booker: It gets in the way of the plot. Like literally, gets in the way of the plot. Like actually visually gets in the, like there’s something you’re trying to see on the screen and something else goes full view on the screen and gets in the way of the plot. Yeah.

Jason Pyles: Okay.

Rob Booker: But it’s funny because you see all these characters from The Wire appear in the show. Like all of a sudden, D’Angelo Barksdale pulls up, gets out, he’s got these really long 1970s sideburns and he gets out of a cop car and he’s a street policeman-

Jason Pyles: Oh wow.

Rob Booker: And he goes and sits down to get his shoes shined. Remember Chris and Snoop from The Wire?

Jason Pyles: Oh yeah.

Rob Booker: He sits down next to Chris, who’s a pimp.

Jason Pyles: It’s hard to see those people as different characters.

Rob Booker: Yeah, and Omar’s even in it. Indeed.

Jason Pyles: Oh, I love him.

Rob Booker: Yeah. All the little hoppers are in that, anyway. Dominic West is nowhere to be seen. But anyway, so back to the original point, I’m sure no one’s made it through this episode. I love the idea of sort of a live action, real time, live trading with commentary and hosting. You know, like a host. Someone who’s, all right, I’m seeing that you’re doing this but broadcast live. Not broadcast on a webinar, that’s not the same thing. Broadcast like its poker, like multi-camera shots.

Jason Pyles: Yes. Yes.

Rob Booker: I don’t know. If anybody, if you can even remotely imagine yourself watching that, send us a message on the blog. On the Episode 559 of The Trader’s Podcast. Go to the website, don’t forget to subscribe to the show please. Download all the episodes, just download all of them.

Jason Pyles: That’s right.

Rob Booker: Just go on a download spree.

Jason Pyles: Right.

Rob Booker: You can even put your email address in there. I love getting that email about the new episodes.

Jason Pyles: Yeah.

Rob Booker: Do you get that email too?

Jason Pyles: Yes, yes I do.

Rob Booker: Do you do that for all of your podcasts?

Jason Pyles: Yes, I do. Yeah, absolutely.

Rob Booker: I love that actually. I’m gonna go to your, tell our listeners how they can go to your podcast.

Jason Pyles: Let’s see, well we got moviepodcastweekly.com, that’s where you go for that one.

Rob Booker: Okay.

Jason Pyles: Yup. And just new movies that are in theaters. And then if you’re into horror for some reason, horrormoviepodcast.com.

Rob Booker: All right.

Jason Pyles: Yup. And you can check ’em out there. Love it.

Rob Booker: I can’t find your, the link on moviepodcastweekly for subscribing by email.

Jason Pyles: It may be down lower in the sidebar. I’m sorry, I’ll have to look at that again. We were recently talking about websites that were shotty or shottily designed. Yeah, so, that’s mine. I need to look at where that is. Maybe it got kicked to the bottom of the page.

Rob Booker: Well, on that note, sometimes when you, now we’re talking about all kinds of stuff. Sometimes when you make it more difficult to accomplish something from a marketing perspective-

Jason Pyles: Yes.

Rob Booker: Only the people who want to hear from you the most are gonna do that. Like getting through this episode was really difficult so only people who really love us and the show have listened to this entire show.

Jason Pyles: Right.

Rob Booker: And they deserve something special.

Jason Pyles: Yes.

Rob Booker: One of you that’s listening all the way to the end, I’m gonna say a word now. I’m gonna say, I can’t do a secret word cause the first person to say the secret word, okay, anyway. If you just want to claim that you listened to the entire episode, go to traderspodcast.com, click on Episode 559, leave us a comment and a question, or just a thought about today’s show. Even if you didn’t enjoy it.

Jason Pyles: Right.

Rob Booker: And leave a comment there and we’ll reward one of you with a gift card at Amazon. A $25 gift card at Amazon.com. Or if Amazon’s not legal in your country, then you get nothing. Just kidding. Leave us a comment, we’ll send you a gift card. We’ll have one winner and we’ll reach out to you. You got through this show, you deserve to be rewarded for that.

Jason Pyles: Yeah. Nice.

Rob Booker: I still can’t find your-

Jason Pyles: I’m sorry. I’ll have to see what happened to it then, Rob. I apologize.

Rob Booker: I want to subscribe by email. Now I really want to do this.

Jason Pyles: Okay. All right. I’ll figure that out and I’ll let you know, Rob. I appreciate it.

Rob Booker: That’s great. So go to moviepodcastweekly.com everybody. It is a great podcast and if you scroll down on the right side, you can support the podcast by becoming a monthly reoccurring donor and I only say that because you and I have done hundreds and hundreds, 600, 700 episodes of podcasts together.

Jason Pyles: Right.

Rob Booker: And this is some of your best work and it really deserves to be, I don’t know, subscribed to.

Jason Pyles: Well, thank you. I appreciate it.

Rob Booker: And for those of you that want real stuff about trading, don’t forget to listen to episode 560 of the Trader’s Podcast, available in just a couple of days. I’m Rob Booker, that’s Jason Pyles, the producer, and you’re listening to the Trader’s Podcast.

10 comments on Ep 559: What if You Could Watch Live Trading in Real Time?

  1. Desiree says:

    I think the idea of a live stream of people trading is great.
    You guys are awesome together…love listening! I listened through…always do!

  2. Scott says:

    J’s rules for movies sound legit. That live trading idea is something Myfxbook or FundSeeder should jump on. The top ranked traders on Myfxbook or FundSeeder would be given the option of live streaming their trading, those top ranked traders would be compensated for sharing their live trading. Compensation would come from traders who pay to view the live trading streams. Subscribers would be given a preview for each top trader to let them know how they trade (price action, Fibonacci, robo, swing, day, etc).

  3. Rohan says:

    Just listened the episode, Rohan here from Jamaica.
    Welcome back guys.

    I didnt enjoy this espisode as much as some of your previous ones, but just wanted to give a shout out and put in my application in the hopes of winning that gift card.


  4. Tom Bath says:

    I’d watch the proposed show! Depending on how interesting it is, I might even keep watching 😉

  5. Andy says:

    Best. Random. Episode. Ever.

  6. Elad Katzir says:

    Really liked this episode. 2 of my favorite subjects, movies and trading.

  7. Lin says:

    Sorry, I wouldn’t like a trading reality show! :p

  8. Ivan Michelena says:

    Hello both of you,

    Very interesting topic…. It seems a difficult choice. I’ll watch it (something like Poker on ESPN), but at the same time, maybe Ill be so hooked to that, that it could be counter productive for my work…. hahahha.

    Keed the good work guys….

  9. Great podcast. Even more fun when they are a little random.
    You mentioned the shot gun and I made me think of an anology. Which is what you tend to do a lot.
    I recently started to go clay pigeon shooting…something I’ve always wanted to try.
    Not blowing my own trumpet but was a natural when having lessons. Hitting roughly 8p% of the clays. Mmm like my first few months trading.
    The more I learnt and progressed and a keen urge to get better…the worse I got. Yup that was my trading too.
    You go to the same trap where you know the direction. The angle and the speed. But what’s this.. .. an unexpected wind. I missed. Oh was there some unexpected trading news?
    OK. I’ve got this. I can compensate for the wind direction and Just shoot below the target. Mmm the wind didn’t behave as suspected and calculated. I traded what I knew and took into consideration of what might happen… I watched the news. Yep I missed again.
    I bought my own gun in the end and had it customised just for me (I changed my changing strategy. From what worked)
    So I went to shoot with my shiny new customised 12 bore. My result was hitting about 20%. I did this with my trading… it went downhill.
    Now when i go shooting. I learn again from the beginning how to shoot. Same with my trading.. I go back to basics and to do what works.
    Pete uk

  10. Scott Chanthavong says:

    I listened to the whole episode and I was laughing with you and Jason the whole time.

    Keep up the good work.


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