The Traders Podcast with Rob Booker

Episode 96 was recorded on the morning of U.S. Election Day 2012, so your host Rob Booker begins by offering a few thoughts on this particular race between President Barack Obama and Governor Mitt Romney. More specifically, Rob asserts that the Markets follow the problems of the day and not necessarily the leader who’s elected afterward. In short, as traders, we don’t really look for the next election; instead, we’re looking for the next problem. The opportunities in trading occur when the problem happens. Rob discusses what it means when you cast your vote for a particular individual. And in this episode, Rob also talks about the words “hope” and “change” and how hope isn’t a trading strategy. In this show Rob also makes some endorsements of his own by listing off the names and Twitter handles of people and organizations that he trusts and follows which analyze the markets or bring you pertinent news. Rob looks at where we get our information, where we get our facts, and where do we get some interpretation of those facts in order to get a better understanding of what’s actually happening. Check out Rob's list of recommendations below, and be sure you don't miss this episode! Links for this episode: For fundamental analysis after an event occurs: Ashraf Laidi of City Index = @alaidi Kathy Lien at BK Asset Management = @KathyLienFX Boris Schlossberg at BK Forex = @FXflow For real-time news information in short bursts: Reuters Insider = @ReutersInsider Reuters Top News = @Reuters Bloomberg Now = @BloombergNow RT = @RT_com Fox Business = @FoxBusiness Breaking News = @BreakingNews Jason's Mostly Movie-Related Twitter Recommendations: Rob Booker = @RobBooker The Traders Podcast = @TradersPodcast Instant Netflix = @Instant_Netflix Dave Becker's DVD Infatuation = @DVDinfatuation Film critic Eric D. Snider = @EricDSnider Jason = @MovieCastWeekly

In this episode, your host Rob Booker speaks with Scott Welsh during one of their famed "Bossilator Sunday night Webinars" about systems trading, mechanical trading, discretionary trading and the ways people mix up the roles they're supposed to play while using mechanical systems or non-mechanical systems. Rob and Scott also discuss the way we traders sometimes shy away from what will help us be most successful. Also, Rob and Scott chat about how Ohio (Scott's home state) has become the epicenter and the focal point in the U.S. election for the president. Join us! Links for this episode: Here's that link: BOSSILATOR SUNDAY NIGHT WEBINAR Scott Welsh at Bossilator.com Scott on Twitter: @SWelsh66 Jason's Movie Podcast Weekly Jason on Twitter: @MovieCastWeekly

Episode 94 was recorded on Tuesday, October 30, 2012. At the beginning of the show, Rob Booker and Jason Pyles discuss false reports of 3 feet of water on the NYSE floor, and they talk about whether this natural disaster will have any effect on the markets. Then Rob transitions this episode into a Part 2 to Episode 93, where he started answering our friend Justin’s multi-faceted question about trading systems. During this show, Rob gives a few words of caution against becoming a professional back-tester, and he comments on how one can create a great trading system. Just a warning ... you might be surprised by the counsel you hear in this episode, so don't miss it! Links for this episode: Jennifer.bz Jennifer on Twitter: @JenTho3

As promised in Episode 91, your host Rob Booker returns to a great question submitted by a listener from London, UK, named Justin — whom Rob has designated as “Podcast Listener of the Week." Congrats, Justin! In this first of two episodes, Rob focuses on a portion of Justin's question pertaining to how to evaluate a trading system. Please subscribe to The Traders Podcast. Write a review for us in iTunes. And you are welcome to send your comments or questions to producer@traderspodcast.com. Thanks for listening! Links for this episode: Tweet to @robbooker !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");

The episode that everyone has been waiting for... Your host, Rob Booker, sets aside his political leanings toward any presidential candidate or party and talks candidly with his producer, Jason Pyles, about how the U.S. election might affect the financial markets — not just in the United States — but around the world. So, Rob discusses matters in Episode 92 that will also be of interest to those who live in Australia, Japan and especially Europe. Rob also addresses the concern that the United States cannot sustain its current levels of debt, and he speaks in-depth about an imminent and inevitable “Grand Bargain” or Great Day of Reckoning for the debt of the world. Rob also gives estimates for when that day will come. You won’t want this miss this one. Listen, and leave us your comments! Please subscribe to The Traders Podcast. Write a review for us in iTunes. And you are welcome to send your comments or questions to producer@traderspodcast.com. Links for this episode: Forex Street.net Article: "How Will the U.S. Election Affect the $USD?" FX Street.com Tweet to @robbooker !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");

It’s time for another mail bag episode! Your host Rob Booker dips into the feedback that we’ve received, and he answers you — the listeners — directly, addressing your comments and questions. We are sincerely grateful to receive any e-mails or comments from you, and we’re thankful that you listen to The Traders Podcast. During Episode 91, Rob answers Pablo from Farmington, Connecticut, who asks Rob to describe the mental state of an ultra-professional trader. Next Rob responds to comments from John, who attended Rob’s session on the bossilator trading system at the Chicago Money Show. John also asked about leaving reviews for this podcast in iTunes. April responds with some feedback to Episode 86, where Rob talked about finishing what you start. Justin from London, UK, writes an ambitious question about trading systems that Rob is going to dedicate Episode 92 to answering. Next Rob answers a question from Ivan about the difference between trend-following and trend-trading. Rob takes a question from David, pertaining to Episode 47. Please subscribe to The Traders Podcast. Write a review for us in iTunes. And you are welcome to send your questions to producer@traderspodcast.com. Tweet to @robbooker !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");

In Episode 90 Rob Booker and producer Jason Pyles talk about dealing with disappointments and how such let-downs are not only a natural part of a trader's career, but a part of life, in general. Rob also expounds on the best way for traders to have longevity and financial security throughout their careers and for the rest of their lives. This episode is good medicine for any under-the-weather trader. Links for this episode: 11 Free Lessons on Trading: 15 Minute Forex.net Rob on Twitter: @RobBooker Jason on Twitter: @MovieCastWeekly

Trading is about making money, or at least, it had better be about making money or you're going to have to keep your day job, and as you know — we don't want you to have to keep your day job. Rob interviews Scott Welsh about what comes before a trader can start making money — and that's consistency, or the ability to repeat a successful behavior over and over again. Links for this episode: Tweet to @robbooker !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Tweet to @swelsh66 !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs");

In another memorable episode, your host Rob Booker and producer Jason Pyles discuss the phenomenon of trading contests and all the interesting baggage and inferences that can be made from their very existence. Rob and Jason tell a few depressing (but humorous) stories about their own contest entries gone awry, and these all lead to a conclusion on the fascinating mentality of the typical contest entrant. So, if you’ve ever sponsored a trading contest, or have entered a trading contest — or you’re considering entering a trading contest, then this episode is definitely for you. Indeed, Episode 88 is for all the underdogs of the world, so tune in! Links for this episode: Rob on Twitter: @RobBooker Jason on Twitter: @MovieCastWeekly

In this fiery episode, your host Rob Booker discusses the Nonfarm Payroll Report numbers that were released last Friday, and he gives his thoughts on the suspicion that the Bureau of Labor Statistics may have doctored the numbers, due to pressure from the White House. Rob also adds a little neutral commentary on the presidential election thus far, and he reveals what he would like to hear from his elected officials. And after participating in The World MoneyShow Chicago last week, Rob has returned with some passionate and nostalgic thoughts about the good ol’ days of the big trading convention, and he offers a few major suggestions on how to make trading expos better than ever. Tune in to be entertained! Links for this episode: Rob on Twitter: @RobBooker Please leave us a review: iTunes

In this very candid episode, Rob Booker dedicates the entire show to answering a question from a listener named Jeff, who asked Rob whether he should quit his pursuit of a Computer Science degree — while only a year and a half away from finishing — in order to pursue trading full-time. For those who are familiar with The Traders Podcast, Rob’s answer will probably surprise you. If we ever recorded a must-listen episode, it’s this one... We thank Jeff for his question, and we welcome anyone to write to us at Producer@TradersPodcast.com. Please subscribe to our podcast, if you haven’t already. And please write a review in iTunes about The Traders Podcast. Thank you.

As promised since Episode 81, Rob Booker brings you a second interview with Hedge Fund Girl, a 20-year Wall Street veteran who has rich experience in the industry, from managing money for an institutional fund to working on a prop desk. In addition to describing more of what it’s like to trade and invest on Wall Street, Hedge Fund Girl returns to The Traders Podcast to talk about Common Mistakes That Retail Traders Make, which spills over into a list of common mistakes that institutional traders make. Hedge Fund Girl gives some things to consider when looking at hot IPO’s — and a little trick to knowing how to be a harbinger of doom — or a warning voice — ahead of the curve by anticipating what’s doomed to fail before it starts to fall significantly. Rob asks Hedge Fund Girl just how aggressive, and “dog-eat-dog” the Wall Street environment actually is — and many other interesting questions during this must-listen episode of The Traders Podcast. Join us! Links for this episode: Follow Hedge Fund Girl on Twitter: @Hedge_FundGirl

Can you make a lot of money (from trading) in a short period of time? Is it a mistake to enter the world of trading because you’re in a financial bind and you need a substantial amount of money fast? Well, these are questions whose answers usually yield some kind of discouraging lecture on prudence. But in Episode 84, Rob Booker gives you the other side of the story and actually answers these questions, telling traders how they might go about such an endeavor as making a lot of money in a short amount of time through trading. You don't want to miss this one! Tune in, and please leave us your thoughts in the comments section below. Thank you for listening. Links for this episode: The episode that partly inspired this one: Episode 69 Please leave us a review: iTunes Our Twitter: @TradersPodcast E-mail us questions for the show: Producer@TradersPodcast.com

In this episode Rob Booker interviews Hubert Senters of Trade the Markets.com. Hubert is a veteran trader of more than 20 years. He shares a number of interesting details about his own trading career: Hubert talks about how long he trades each day, and Rob and Hubert discuss when to quit if you’re having an off day. Hubert describes some rules that he has in place in order to protect himself — from himself, and Rob talks about these rules in terms of “catalytic mechanisms.” Rob asks Hubert if he gets emotional while trading, and Hubert discusses his method for coping with getting angry after losing money. They also talk about how many monitors Hubert has in his trading office (and how many of those he actually uses). Rob asks Hubert about the book he’s been writing, and Hubert goes all the way back to the beginning, explaining how an unseemly job at a dairy farm eventually led him to where he is today. All of this and more — on The Traders Podcast. Join us! Links for this episode: Trade the Markets.com On Twitter: @HubertSenters

In a very unusual episode, Jason Pyles, the producer of The Traders Podcast, steps up to the mic and guest-hosts in Rob’s stead, since his microphone wasn’t working this morning. So, Jason had the pleasure of interviewing the great Adrienne Toghraie of Trading on Target.com for her second visit to The Traders Podcast, as a Part 2 to her appearance in Episode 80. Adrienne is the author of 13 books about discipline and the psychology of trading, and she's a literal expert when it comes to coaching traders, brokers and investors on their mental game in trading. Jason revisits the concept of the “energy of money,” which was mentioned previously, and Adrienne goes more in-depth about this phenomenon. This topic leads to a discussion of the goal of becoming a professional trader and what it takes to “quit the day job” and start making a living as a full-time trader. Adrienne talks about how a trader is typically affected if he or she starts out in trading with a large amount of money. She also discusses traders whom she describes as being “at one with the markets.” During Episode 82, Adrienne also addresses how traders can help get the support of their significant other pertaining to their trading. ***And especially for the listeners of The Traders Podcast, Adrienne says if you e-mail her ( Adrienne@TradingOnTarget.com ) or call her ( 919-851-8288 ) within the next two months, she will give you a special on her Trading On Target Home Study Course. All you have to do is tell Adrienne that you’re a listener of The Traders Podcast. ***Also, Adrienne will be giving away one free book, “A Lesson a Day for Traders, No. 3” to every fifth person who e-mails her ( Adrienne@TradingOnTarget.com ) and requests a free copy of her newsletter. [Limit of 20 books.] Links for this episode: Adrienne’s Web site: Trading on Target.com