gambling

Episode 269: Trading Tidbits From Cannon Beach

TTP Ep 269 art

In Episode 269 of The Traders Podcast, your host Rob Booker calls in to the show from Cannon Beach, Oregon, which is pictured at right. Rob begins by giving a quick mini review of his Chromebook computer and its performance thus far. Next we read a mailbag question from Erik, who asks if Japanese traders are typically bigger risk-takers or even gamblers. And this leads Rob to talk about the carry trade, for old times’ sake. Next Rob cites a blog post titled A Dozen Things I’ve Learned From Reid Hoffman, and of course, he has trading-related applications for these tidbits. And finally Rob talks about how the innovative trader’s path is most often a solo journey. Join us!

Links from this episode:

Web site about business: 25 IQ.com Read More

Episode 196: The Magical Potion of Probability and Why Trading Is Gambling

Returning again after their Cigar Shop debut in Episode 179, Shonn Campbell and Matt LaCoco host The Traders Podcast again to talk about the magical potion of probability and to what extent trading is, in fact, gambling. Matt and Shonn discuss how traders are just in denial about being gamblers, asserting that traders aren’t much different from professional poker players or card counters who use statistics to make their money. Shonn and Matt suggest that trading is merely card counting — with candles! They also talk about “the gut feeling” and how it’s essentially the intuition of probability.

So, in Episode 196, the Cigar Shop guys will answer the questions: Is there a way to count cards in trading? And is there a way to gamble for a living? You definitely don’t want to miss this one! Thanks for listening to The Traders Podcast.

Links for this episode:

Follow Matt on Twitter: @MattLaCoco

Follow Shonn on Twitter: @PlateauTrader Read More

Episode 45: Enduring Draw-Down and the Infinite Time Horizon on Success

An expert in automated back-testing, Chris Davison joins us from the UK to give more advice on how to lose money and to discuss the two elements of draw-down: namely, how your system copes with draw-down and how you personally deal with draw-down.

Rob and Chris clarify the difference between risking 1% per trade versus risking 2% per trade, and they give advice on how to get to the point where you don’t worry when you’ve hit a losing streak. Rob brings us another “Dumb Things That Rob Does” segment, and Chris reveals some interesting findings that have occurred during the Wallabot Millionaire experiment.

There’s talk about how to give yourself “an infinite time horizon on success,” differentiating between investing and gambling, and Chris names the reason why he thinks most people lose money trading — and more. Please join us!

Chris Davison’s blog, where he monitors the performance of several automated systems: Chasing Pips

Understanding Draw-Down:

If you enjoy this episode, we also recommend The Traders Podcast, Episodes 1 — 3: “The Commandments of Automated Trading,” with guest Chris Davison:

Episode 1: Automated Trading Part 1

Episode 2: Automated Trading Part 2

Episode 3: Automated Trading Part 3