long term trading

Episode 234: Cut Losses Quickly and Allow the Winning Trades

This episode opens with your host Rob Booker and Jason the producer taking an unintentionally alienating stroll down Memory Lane by perusing Google Maps… Next we read a comment from Ryan about his long-term trading, which leads Rob to quote from his friend Tim Sykes’s blog post about his 64 trading rules. Rob talks about the importance of cutting losses quickly and allowing your winning trades to run their course. We think you’ll enjoy Episode 234, so please check it out. Thanks for listening!

Rob’s Trifecta Trading System for day trading

Other links for this episode:

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast Read More

Episode 228: When You’re Trading for the Long Term

Episode 228 of The Traders Podcast begins with your host Rob Booker following up on what happened with his attempt to purchase bitcoin earlier this week. Next Rob talks about how in 2014 he has switched to trading for the bigger trends and the bigger moves. Rob is now going for much longer term trades, working from the four-hour charts.

To illustrate Rob’s philosophies on long-term trading, he tells a true story about his friend, Matt, who wanted a two-seater, Mercedes coupe (circa the year 2000) but only wanted to pay a certain price for it… This story leads into a follow-up story about how Matt’s experience influenced Rob’s actions when he found himself in a comparable situation. So, if you’ve been considering trading for the long term, Rob gives you some tips in Episode 228. Don’t miss it! Thanks for listening. Read More

Episode 219: The Scalper’s Mentality and Long-Term Trading

In this episode of The Traders Podcast, your host Rob Booker responds to a tweet he received from someone who said he’d love to be a long-term trader, but his scalper mentality doesn’t work well with long-term trades. So, as one might expect, Rob launches into all the possible definitions of “scalping” and a little history on the word’s unpleasant origins. Then Rob explores scalping in the trading sense and examines a few reasons why this sort of scalping can be problematic (though, admittedly, not nearly as problematic as the brutal war-time practice). Nevertheless, Rob also briefly addresses what constitutes effective short-term trading and promises a future episode on this topic. Tune in and enjoy, and thanks for listening to The Traders Podcast.

Links for this episode:


Rob on Twitter: @RobBooker Read More

Episode 78: The Harmonious Coexistence of Discretionary Trading and Automated Trading

In today’s episode, Rob Booker talks with Chris Davison, his partner in building automated trading systems. You’ll hear Rob and Chris discuss the role that automated systems might play in a trader’s discovery of ways to make money. Rob and Chris discuss how to get experience in the markets without spending a great deal of money to get that experience. Their answer: discretionary trading and simultaneously running some automated strategies in the background as a method for learning the process of making the decisions for yourself. And they consider whether this is a prudent approach … or not.

Rob addresses his most common post-seminar question: What do you do now that you’ve attended this live seminar? Rob asks Chris if he makes distinctions among high-frequency trading and long-term trading and medium-term trading when talking about automated systems. They explain how the exchanges and the brokers love scalpers. Rob asks Chris how much draw-down he can withstand. Chris offers his theories about why 95% of traders lose, and his “Wibbley-Wobbly Line Theory.” And, of course, Chris answers the classic question: Is it possible for a retail trader to make money? Join us — you’ll love it!

Links for this episode:


Chris’s blog: ChasingPips.blogspot.com – where he documents the ups and downs of trading automated systems

Follow Rob on Twitter: @RobBooker and see Rob retweet anything that Chris ever says.