false precision

Episode 369: Ask Rob – False Precision

Good morning! It’s time again for “Ask Rob” on The Traders Podcast, which is now a weekday show! We have our regular, 20-minute long episodes on the normal Monday and Wednesday release days and our new 4-minute “Ask Rob” episodes on Tuesdays, Thursdays and Friday!

Today in this edition of “Ask Rob,” your host Rob Booker responds to a listener text regarding an optimal trading strategy. Find out why Rob is careful not to hold out for precise points. Thanks for listening!

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Episode 285: Reduce Your Trade Size and Calm Down

Returning to a more typical and positive vibe, Episode 285 of The Traders Podcast features your host Rob Booker and Jason the producer talking about some of their favorite quotations. Rob relates these quotes to trading, naturally. Rob asserts that people generally do what they want to do, regardless of their reasons given.

Rob reads a quote from a forthcoming trading book by Shonn Campbell called FX Inventory, which encourages traders to be free from the burden of false precision. He cites another portion of the book that suggests that trading is about playing offense and defense at the same time. Rob also asserts that your ability to make money is directly proportional to your ability to calm the hell down. Rob says that dramatic people make the worst traders. And we conclude this episode with a voicemail from actor Morgan Freeman, who tries his hand at reciting The Traders Podcast intro! Thanks for listening.

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