Welcome to Episode 157 of The Traders Podcast! In this show, your host Rob Booker talks with Jared Johnson, the CEO, founder and president of Day Traders FX.com, about some listener feedback we’ve recently received. Our friend Justin e-mailed in to the podcast to suggest / request that Rob provide more discussions of trading setups, back-testing and technical analysis. So, in answer to Justin’s request, Rob alternates with Jared and provides — more or less — six quick methods for entering a trade.
Next Rob talks about having breakfast with Tim Bourquin and their discussion of the universal question that beginning traders always seem to ask: “How long will it take to become successful at trading?” Or another version of this same question is: “How long until I can quit my day job and just trade full time?” This leads Rob to tell a story about his good friend, Shonn, and his response when Rob asked him if he could think of a time when someone asked him to do something and he was absolutely confident in his answer.
All of this, of course, leads back to Justin’s e-mail about trading setups. Rob says the important thing is not how you set up your trades, but how you use what you have been given. Rob and Jared also talk about forgiving one’s self and about being sufficiently embarrassed with ourselves for our own mistakes, which leads to a candid discussion of personal accountability and transparency. And finally, Rob and Jared wrap up this episode by making some confessions about their joint trading account for charity. Good stuff. Listen!
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