episode 146

Episode 146: The Trading Lifestyle

While visiting Northern Virginia on their Trade-for-a-Living Tour, Rob Booker and Bradley Fried recorded this conversation with their friend, Mohammad. Rob asks Mohammad what has been the most difficult aspect of his trading. And that leads to a discussion about “the trading lifestyle,” and the difference between being forced into this so-called trading lifestyle, versus freely choosing the trading lifestyle.

Brad says if you bring financial pressure into your trading, you will not succeed. He says when you focus on the money, it falls apart; but when you focus on the aspects of trading that can be controlled and the process of trading, then the money comes naturally. Rob talks about the principle of doing what you can do, not just what you wish you could do. And these three traders talk about the difference between making spreadsheets that are goal-oriented, versus making spreadsheets that are delusional. Another valuable episode! So, if you find yourself living the trading lifestyle — or planning to live it — listen!

Links for this episode:
Click to download Brad’s SpreadsheetNote from Brad: Notice that this spreadsheet only models hitting a fixed pip target consistently every week over a period of years, and does not include the impact of losses, win %, etc. It just assumes what we get are net target pips each week risking a fixed % of equity to get those pips. Read More