Episode 208 is a sifting episode — a Traders Podcast episode to help separate the sheep from the goats, or more precisely, the Loser Trader from the Confident Trader. In this show, your host Rob Booker will describe the characteristics of the Loser Trader versus the characteristics of the Confident Trader. Which one are you?
Rob says the Loser Trader is obsessed with loss and all the “could have beens” and “should have dones.” The Loser Trader wastes time thinking about losses. His previous trade affects his next trade. He wishes he could have his money back. The Loser Trader often allows himself to feel guilt, sorrow and shame.
Next Rob contrasts the Loser Trader with the mind of the Confident Trader, the trader who lives a simple life and never dwells on the past. The Confident Trader’s goal is to practice right trading, not to make a certain amount of money per day. The Confident Trader has an infinite time horizon. In Episode 208 Rob spends time describing both types. Again, we ask you to ponder… which kind of trader are you?
Links for this episode:
Rob on Twitter: @RobBooker
The Traders Podcast on Twitter: @TradersPodcast
E-mail us! Producer@TradersPodcast.com