While waiting for our dynamic guest to arrive for this interview, your host Rob Booker and the producer Jason Pyles have a preliminary discussion about all the forecasting that’s going on in 2013, which Rob says, is beginning to be a problem. Rob emphasizes how difficult it is to tell the future, and because of this fact, he asserts that dishonesty often enters the equation as a temptation.
Rob suggests that in truth, when you’re down in the trading trenches, you really can’t cheat; you just have to trade what’s in front of you. He believes it’s a fool’s game to wake up every morning and try to predict the direction that something’s going to go, versus simply being ready for the market to go in either direction. Rob talks about the phenomenon of second-guessing yourself when you hear opposing viewpoints, as well as the importance of being able to have your own opinion (and to stand by that opinion).
Later in this episode we are joined by our special guest, Todd Gordon, one of the hosts of CNBC’s television program, “Money in Motion,” which airs on Friday nights. Rob begins by asking Todd about his new business venture, Trading Analysis.com, as well as his new home-office set-up (which is pictured above).
Rob asks Todd if Elliott Wave analysis (one of Todd’s specialties) is so complex that he can’t talk about it on television. Todd reveals the top three best books he’s ever read on the subject of Elliott Wave analysis. Rob talks to Todd about how he still finds time to trade, amid his hectic schedule. Todd explains which financial instruments he uses to help him do his analysis. And Rob asks Todd why the Norwegian currency is a better proxy for oil and what that means for Todd as a trader. Don’t miss this one!
Links for this episode:
Todd Gordon’s Trading Analysis.com
Rob on Twitter: @RobBooker
The Traders Podcast on Twitter: @TradersPodcast
E-mail us! Producer@TradersPodcast.com