the traders podcast

Ep 615: The “Dirty Job” of Profitable Trading (and Why No One Is Willing to Do It)

Welcome to The Traders Podcast, Episode 615! For today’s show, your usual host, Rob Booker, is traveling and having adventures, so Jason the producer invited “The Coach” Scott Welsh to guest host once again! You can find Scott online at: Scottwelsh.me

In Episode 615, Scott discusses how “dirty jobs,” or unpleasant jobs that nobody wants, are inherently insulated from the whims of the economy. They also tend to be lucrative! These are jobs that are always needed and always seem to have openings. Scott likens these types of unsavory professions to the nature of a perfect trading strategy: It’s not sexy or glamorous, but it’s profitable in the long-term. Scott asks us to think about what’s possible for our own trading careers if we’re willing “to get dirty” and do what others won’t! Join us to hear more!

If you would like to learn more about the cryptocurrency market, you can get Rob’s free book at RobCoin.com. Read More

Ep 614: The Danger With Thinking You’ve Arrived

In Episode 614 of The Traders Podcast, your hosts Rob Booker and the producer Jason Pyles discuss the danger of thinking that you’ve arrived. We’ve all heard the stories or have seen movies that depict this phenomenon: The struggling artist creates from lowly means but is passionate and happy, nonetheless. Then the artist attains wealth and great success and becomes miserable and discontent.

There’s something important about remaining “hungry” and aggressive. Rob tells a true story where he witnessed this phenomenon with a hedge fund. If you start having trouble with your trading, try returning to your roots. Strip your trading back down to the very basics, just the essentials. Get rid of all the superfluous trappings and excess and restrict yourself from unnecessary information. Listen to learn more!

Also if you’ve been eager to learn more about the mysteries of the cryptocurrency market, you can get some more insight from Rob’s free book at RobCoin.com. Read More

Ep 613: Things I Keep Saying (That No One Hears)

You may have heard many lucrative, CEO types say things like, “We overestimate what we can accomplish in a month and underestimate what we can accomplish in seven years.” Bill Gates said 10 years, but Jeff Bezos and Amazon have a seven-year time horizon. Either way, the principle is the same: These wealthy individuals are willing to wait several years for an idea to really start making money.

In Episode 613 of The Traders Podcast, your hosts Rob Booker and the producer Jason Pyles discuss things that Rob keeps saying that no one ever seems to hear. For instance, from our previous episode, “taking small gains and compounding them over time” is one of those things, and it sounds similar to the Bezos / Gates approach mentioned above.

During this episode, we also talk about being too consumed with our problem rather than being consumed with our goals. We also discuss the distraction of caring too much about what other people think. Just remember: Trading is a marathon, not a sprint. Join us to learn more!

And if you should ever be interested in learning more about the wild world of the cryptocurrency market, then you can gain some great insights from Rob’s free book at RobCoin.com.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
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Ep 612: Killing the Goose That Lays the Golden Eggs

A recurring theme on The Traders Podcast is the long-view, sure-bet principles of minimizing your losses to small amounts and taking small gains and compounding them over time. This is the way to profitability in currency trading. Though it’s not very sexy or exciting, this method is analogous to “the goose that laid the golden eggs” from Aesop’s Fables. A trader can set aside one golden egg each day, or a trader can choose to become impatient, kill the goose, and lose everything.

In Episode 612 of The Traders Podcast, your hosts Rob Booker and Jason the producer talk about finding an approach to trading that’s easy for you to do successfully, regardless of how profitable it is, and then sticking with it for the long haul. Many traders tend to get bored easily, so they will wander away from something that’s actually working, just because it seems too simple. We hope you will give this episode a listen. We believe it will help! Join us!

By the way, if you’ve been morbidly curious about the mysterious cryptocurrency market, you can learn more from Rob’s free book! Receive it by visiting RobCoin.com. Thanks for listening.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
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Ep 610: State of the Market Address

Whether we choose to monitor it or not, the markets are often influenced by the newsworthy developments of the day. Some currency traders watch the news and keep up with politics and geopolitical current events to help them predict direction and volatility in the market. Other traders feel that concerning themselves with “all that noise” can just be a distraction.

Either way, occasionally on The Traders Podcast your host Rob Booker will devote an episode to discussing current events and how they are influencing the market. Regardless of your politics, you’re welcome here! As Rob and the producer Jason discuss the current administration, we won’t take any stances one way or the other.

Instead, Rob’s objective in Episode 610 is to examine what’s happening with President Trump and how our current administration is affecting the stock market. Financial markets are adversely affected by political uncertainty, and there are many developments afoot that are influencing our trading. We hope you will listen to learn more!

Also in this episode, Rob reflects back on a prediction he made years ago on this podcast. He said Facebook stock would reach $100 a share and predicted that you — the Facebook user — would become “The Product.” You can hear more and revisit these predictions in the episodes linked below:

Episode 48: The Problem With Facebook

Episode 49: Fair Value, Facebook and the Euro-Swiss

If you have any degree of interest in the cryptocurrency market, visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Thanks for joining us!

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
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Ep 609: Did Curiosity Kill the Cat?

Welcome to The Traders Podcast, Episode 609! Today your host Rob Booker and the producer Jason Pyles discuss the age-old expression, “curiosity killed the cat,” and explore how curiosity can help and hurt you as a trader. At first blush, one might agree with the adage because curiosity can certainly get you into trouble. On the other hand, because cats seem to have nine lives, they tend to do all right. When it comes to trading, though, we have to look more closely.

Traders are excited by new indicators, robots and the hope of finding some new way to become a profitable currency trader. This curiosity is always about making more money, but this is the kind of curiosity that can potentially get you in trouble. However, if you’re searching for a way to reduce your drawdown or reduce your losses, your curiosity surrounding that topic is on point! Rob wants to see more of this kind of curiosity!

Thanks for listening to The Traders Podcast. We release new episodes every Tuesday and Thursday. Subscribe free in iTunes and join us!

If you have any degree of interest in the cryptocurrency market, visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Thanks for joining us!

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
Read More

Ep 605: How to Know if You’re Pursuing the Right Course in Your Trading

In Episode 605 of The Traders Podcast, your host Rob Booker and the producer Jason Pyles talk about how to know if you’re pursuing the right course in your trading. We discuss pushing your limits and maximizing your potential. We talk about a human’s ability to “see the light,” to become enlightened and to change.

There is an important distinction between pushing your limits to stretch and grow and simply pursuing the wrong course by “banging your head against a wall” or “trying to fit a square peg in a round hole.” There are pursuits that we can strive to achieve, and then there are ambitions we were never meant to pursue. This episode explores the idea of how maximizing your potential has to do with pushing yourself, yes, but pushing yourself in the right direction!

Episode 605 encourages you to take a self-inventory and to investigate whether there are any areas of trading where you’re “forcing it.” Are you pushing yourself to your limits but also failing — repeatedly? If this is the case, Rob says, then you’re not even close to maximizing your potential at all. Actually, you’re ruining everything.

Where are you most comfortable? Which trading pursuit feels best? Where are you relaxed and at ease? Listen to this episode to learn more!

Also, if you would like to explore the mysterious world of the cryptocurrency market, you can visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
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Ep 603: Recency Bias vs. the Portfolio Approach in Trading

Welcome to The Traders Podcast! This is Episode 603, when your hosts Rob Booker and the producer Jason Pyles discuss “the Portfolio Approach” to currency trading.

Traders are subject to a bizarre recency bias, where they tend to use the most current event or experience as a baseline for predicting what will likely happen in the future. In other words, traders often base their feelings about a certain robot or trading strategy on the outcome of the last trade they took. In Episode 603, Rob suggests that we should instead judge by using, what he calls, “the Portfolio Approach.” Join us to learn more!

And if you would like to learn more about day trading the cryptocurrency market, be sure to visit RobCoin.com to receive Rob’s free book! Thanks for listening to The Traders Podcast.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
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Ep 602: Understanding Where You Are Going in Trading

In our previous episode of The Traders Podcast, your hosts Rob Booker and the producer Jason Pyles talked about your necessity as a currency trader to understand where you are. In Episode 602, we discuss the vital nature of understanding where you are going. This sense of direction is part of the equation for Elliott Wave traders, Fibonacci retracement traders, support and resistance traders, and even those rare, “prophetic” traders.

If you want to become a profitable currency trader, then you need to learn how to consistently have those “Babe Ruth moments,” like in the fifth inning of Game 3 of the 1932 World Series in Chicago, where you call your shot and skillfully predict where price is going. Where are you now, and where are you going? How much more do you really need to know? Listen to this episode and find out!

Oh, and don’t forget to check out RobCoin.com to receive Rob’s free book about day trading the cryptocurrency market! Thanks for listening.

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
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Ep 601: Understanding Where You Are in Trading

If you want to be a profitable currency trader, you need to understand where you are and where you’re going. It just makes sense. If you want to drive somewhere, you need to first understand your present location before determining which direction you should travel next to arrive at the desired destination. The same goes for trading: Before you can concern yourself with which direction the market is going, you first need to understand where it is at the present moment.

In Episode 601 of The Traders Podcast, your hosts Rob Booker and the producer Jason Pyles begin this first of a two-part series about Understanding Where You Are in Trading, which will be followed by our next episode, Understanding Where You Are Going in Trading. Join us!

Be sure to check out Rob’s book about day trading the cryptocurrency market. You can receive it for free here:RobCoin.com

Links for this episode:

Subscribe to Rob’s YouTube channel here: https://youtube.com/robbooker
Read More