Welcome to a special edition of The Traders Podcast. Here in Episode 627, your usual host Rob Booker is traveling, so Jason the producer welcomes back guest host “The Coach” Scott Welsh! Scott asks a very simple question: Should traders follow the rules or not?
To tease out this mystery, Scott recounts his firsthand experience with a tennis student who followed all his coaching rules perfectly — to the letter. Scott talks about the great success this student found while following the structure that he put in place for her. Jason and Scott also discuss how some people actually ask for strict rules and why those people often do better!
But we also examine the downside to rules: What happens when the rule-maker disappears? What if the rule-follower no longer has problem-solving skills? Scott also spends some time talking about the concept of guidelines, an inevitably, he delivers a verdict on his initial question! But you’ll need to listen to find out more! Join us!
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