The Traders Podcast with Rob Booker

Rob Booker talks with his trusty producer, Jason Pyles, about driving and trading and being on the route of trading for a living. Rob also discusses the origins of the most famous traders, how the aspiration to trade for a living is like building a highway, and he asserts that our childhood experience may actually influence our trading style and behavior presently in our adult lives. Rob encourages the listeners to do some self-assessment by doing an in-depth examination on the ways they trade. And Rob asks the listeners if there's a stop along the way during their trading route that they're not making, which is preventing them from trading for a living. Jason brings a little trivia regarding the U.S. Route 66, and for good measure, he lists some irrelevant but interesting trivia about the year 1966. Join us, and please subscribe to The Traders Podcast. Download Trading Robots for the Currency Market Here: Metro Trader.net ***And remember: Any purchase made on Metro Trader.net before the release of The Traders Podcast, Episode 70 (which releases on August 8th) will earn you a BONUS gift of the first 60 episodes of The Traders Podcast burned onto CDs or USB sticks, depending on your preference. Jason recommends the CDs for listening while driving. YouTube performance of "Route 66" by: Bobby Troup YouTube performance of "Route 66" by: Nat King Cole YouTube performance of "Route 66" by: Chuck Berry

In this episode, your host, Rob Booker, brings you a special event podcast that features a generous segment from TFL TV’s morning show, “Coffee and Charts,” which is hosted by Commander Rob Wilson and Rob Booker. Rob squared spends much of this episode talking about what it means to be a sovereign individual, as in, someone who successfully trades for a living and is his or her own boss and conscience. And the Robs also wander off into other topics concerning geography of the United Kingdom, political science lessons, and other entertaining shenanigans. Please tune in; we think you’ll enjoy this episode! Rob Wilson on Twitter: @joe_trader TFL TV's: "Coffee and Charts"

In this fiery episode of The Traders Podcast, your host, Rob Booker, “solo-casts” about PFGBest’s Peregrine Financial Group Inc. and its founder, Russell Wasendorf Sr., who was found to have absconded with $215 million, over a 20+ period of time, which somehow flew beneath the radar of the National Futures Association (the NFA) and the U.S. Commodity Futures Trading Commission (the CFTC). PRODUCER'S NOTE: The Traders Podcast contacted the National Futures Association for comment, and it has declined to respond altogether. Rob also describes how an honest person might be tempted to become a dishonest person — and he illustrates this description with an analogy about a baseball player trying to aspire to the big leagues. Also, Rob publicly calls out Gary Gensler, the CFTC chairman, asks him to step down and suggests that a class action lawsuit brought against him. Tune in to hear why! All of this and more, so buckle up! THE EDGE TRADING VIDEO SERIES — a series of videos by Rob Booker and his co-host on TFL TV, the Commander Rob Wilson. This series includes 10 hours of video instruction about Edge trading — a way to plan trades with bigger profit targets and smaller stop-losses. Questions for listeners: Please leave your answers in the comments below. 1. What are your thoughts on the matters discussed during this episode? 2. Can you think of one financial firm executive that you would trust with your wallet? 3. What are you usually doing while listening to The Traders Podcast? Thanks again for listening.

Join Rob Booker and professional coach and independent trader Scott Welsh as they discuss principles of money management, and specifically, how large (or small) your profit target should be. Scott Welsh is the co-creator of and co-instructor on The Bossilator, and he does all of his trading on a mechanical basis. In this episode Scott shares some personal stories about his initial goal of aiming for small profit targets and how he couldn’t find a way to trade profitably with that approach. Rob and Scott also discuss how many traders pursue very high win percentages because it gives them the feeling that they’re being successful. Scott talks about how the small profit targets are extremely exhilarating on a day-to-day basis, until you lose it all in one day, which feels awful. Rob examines this universal trap that he says happens to everyone. Scott and Rob also talk about coming to terms with the impossibility of knowing when we’re going to take a huge loss, and ultimately, they strive to wrap up this episode by telling traders how to go about finding an optimal profit target for them, regardless of whether it’s large or small. Please listen — and stay tuned at the end of this episode for a special announcement! Scott Welsh at Bossilator.com Special announcement link: MIAMI LIVE SEMINAR Book recommendation: When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein

This episode is Part 2 of 2, which features your host, Rob Booker, speaking with a literal zombie expert, Dr. Kyle Bishop (aka “Dr. Walking Dead”) of Southern Utah University. In this show, Rob and Kyle bring this zombie analogy home to traders by exploring some analogies between banks and monsters. They talk about why banks and money have a long-standing, metaphorical association with blood. Rob and Kyle also define what a zombie trader is — as well as the pitfalls that lead traders to succumb to this financially undead fate. Your hosts also warn against the dangers of “zombie adoption,” or becoming sympathetic toward individuals who are not successful. And Rob addresses whether the zombie banks will ever be able to be cured of their “living dead” condition. So, aim for the head, and don’t miss this episode! Dr. Kyle Bishop’s links: Twitter: @DrWalkingDead Book: American Zombie Gothic: The Rise and Fall (and Rise) of the Walking Dead in Popular Culture Kyle’s zombie movie / book recommendations (Required Viewing): Night of the Living Dead (1968) Dawn of the Dead (1978) 28 Days Later (2002) Shaun of the Dead (2007) The Walking Dead (TV series) Max Brooks’s The Zombie Survival Guide: Complete Protection From the Living Dead (book) Jason’s additional zombie movie recommendations: Day of the Dead (1985) Lucio Fulci's Zombie (1979) (aka Zombi 2)

This episode is Part 1 of 2, which features your host, Rob Booker, speaking with a literal zombie expert, Dr. Kyle Bishop (aka “Dr. Walking Dead”) of Southern Utah University. In this first part, Rob and Kyle set up their discussion for Part 2 by covering some of the background of the zombie monster. They discuss some basic zombie trivia, and they talk about how America’s current, widespread fascination with zombies may have to do with a gut-check reaction to the September 11th terrorist attacks on the United States. Rob and Kyle also talk about how when things get bad, we like to watch horror movies; the Greeks’ concept of catharsis, where you get to experience emotions vicariously in a safe manner; and the concept of inhumanity through selfishness. All of this will set up this Wednesday’s episode, where Rob will apply these concepts to zombie banks, zombie nations and zombie traders — all sitting on top of piles of debt, feeding on each other. You’ve never heard another Traders Podcast episode quite like this one — so check out this show and remember to aim for the head! Dr. Kyle Bishop’s links: Twitter: @DrWalkingDead Book: American Zombie Gothic: The Rise and Fall (and Rise) of the Walking Dead in Popular Culture Kyle’s zombie movie / book recommendations (Required Viewing): Night of the Living Dead (1968) Dawn of the Dead (1978) 28 Days Later (2002) Shaun of the Dead (2007) The Walking Dead (TV series) Max Brooks’s The Zombie Survival Guide: Complete Protection From the Living Dead (book) Jason’s additional zombie movie recommendations: Day of the Dead (1985) Lucio Fulci's Zombie (1979) (aka Zombi 2)

Happy 4th of July! Join us for Episode 60, when Rob Booker takes a few minutes to rant about the latest, current events headlines. Rob expounds on the news surrounding Bob Diamond, the former CEO of Barclays who resigned in the wake of a giant scandal, where investors were swindled out of millions of dollars through the manipulation of interest rates across Europe. Rob also spends some time waxing philosophical about principles of honesty and morality, and he also addresses questions like, “Why don’t more white-collar crimes lead to jail time?” You’ll hear all of this and more during Episode 60 of The Traders Podcast. Listen, and leave us a comment with your opinion on these matters. Thanks for listening!

In today’s provocative episode, Rob Booker interviews Ryan Caldwell, a private, stay-at-home trader who’s been trading for five years and has a controversial outlook on money-management theories, hedging his trades when they go against him, and picking a direction in the market as if he might actually know which way the market is going to go next. As Rob and Ryan look at the Martingale Money Management System, we have no doubt that this rousing discussion will spark the emotions and opinions of The Traders Podcast listeners, so please — by all means — leave your thoughts in the comments section of this episode! Join the fray! Note: A Martingale trading methodology will increase the size of the trades in the midst of a losing streak. A true Martingale money management methodology will double the size of the trades every single time there’s a loss. Rob recommends further reading: Martingale Trade Sizing and the Gambler's Fallacy Using the Z Score to Determine Trade Size and Boost Performance

Rob Booker chats with Raghee Horner, intermarket analyst extraordinaire, who believes that each trader is entitled to his or her own perspective on the market, regardless of dissenting naysayers' recommendations. During this episode, Raghee talks about the concept of adapting to “The New Reality” that exists in our more or less resilient global market. Rob and Raghee also discuss oil, the Greek economy and the way the interest rate cycle will sometimes precede the commodity cycle. Rob talks to Raghee about her feelings toward gold, its baffling market movements, and the role that gold plays in her analysis. All this and more in Episode 58! Thanks for listening. Find Raghee Horner online: Trade Forex Futures.com Leave The Traders Podcast a review: Our iTunes page

Death and taxes. Unavoidable. Even for traders. In Episode 57 Rob Booker interviews Robert A. Green CPA, a tax expert who has prepared the returns of thousands of traders from all over the world and is the founder of Green Trader Tax.com. In this interview, Bob volunteers a lot of valuable information to help traders with tax-related sorrows — such as what to do if you get audited as a trader. Bob Green describes the process of amending returns and defines “trader tax status.” He also talks about how to qualify for trader tax status, and why it might be beneficial for you to qualify for trader tax status. Rob and Mr. Green also discuss how trader tax status affects your deducting of business expenses — as well as clarifying the distinctions between “business expenses” versus “investment expenses.” Bob describes the most common mistakes that traders make when filing their tax returns, and he gives specific advice on filing for securities traders and forex traders. Rob asks what traders should do if they get letters in the mail, informing them that their returns are going to be audited. Bob Green also gives advice on what to do if you have a stubborn IRS agent. In this episode you’ll also hear about some things you should not do in order to avoid provoking the IRS to “throw the book at you.” And Bob Green provides insights into why traders who have gigantic losses tend to get audited. Oh, and you’ll hear why some retail brokers don’t send out tax statements at the end of the year. All of this and so much more in Episode 57 of The Traders Podcast. Listen and subscribe! Robert Green's links: Web site: Green Trader Tax.com Recent Bob Green webinar on entities for traders: Click here to download Twitter: @GreenTraderTax E-mail: info@greencompany.com

Are you interested in developing an automated trading system? If so, Episode 56 is especially for you. Rob Booker is joined by trading blogger Jennifer Thornburg to discuss the challenges of turning a discretionary trading system into a mechanical one. In this show Rob asserts that even though many people think they have a rule-based trading system, most people don’t. Rob and Jennifer discuss why traders try to fool themselves into thinking they have a rule-based system, while addressing the disparity between what we think we’re doing and what we’re actually doing. Rob and Jennifer answer the following questions: What’s the first thing you might do in order to turn a discretionary trading system into a mechanical one? What should you look for in a programmer — and what things should you watch out for when making your agreement with a programmer? How can you protect your trading system from being taken by someone who is programming it for you? Rob also gives you a ballpark range of about how much you should spend per hour to get your programming done, and he also lists a number of items that you should pay an attorney to help you protect. If you’re considering your very own automated trading system, then Episode 56 is a must-listen! Follow Jennifer Thornburg on Twitter: @JenTho3

Rob Booker catches up again with Raghee Horner, the chief market strategist at Interbank FX, and they discuss the flogging of Jamie Dimon and his testimony before the Senate panel on the subject of the $2 billion dollars losses. This topic leads to some breaking news about how traders thought the losses were going to reverse and the fascinating concept of monkeys flying out of one’s butthole. Raghee and Rob also talk about how traders typically deal with losses and how they treat themselves in response to loss. They discuss how most traders will fear losses far more than they will ever enjoy any gain. Raghee discusses the employee mentality versus the entrepreneur mentality and how traders live in a results economy. Raghee also gives an example of how the NFL football drafting process illustrates our tolerance and patience for how soon we want a return on our investment. They talk about expanding one’s time horizon in order to keep short-term set-backs in perspective, as well as the concept of point of validity. Don’t miss this one! Catch up with Raghee Horner here: Raghee Horner.com IBFX.com Trade Forex Futures.com Twitter: @RagheeHorner

In this unusual episode, your host, Rob Booker, is broadcasting live and “in the field” at the Dallas Traders Expo. There Rob caught up with Bradley Fried, the CEO of Rob Booker Japan, Inc., and they discussed some trends that are developing among traders from around the world, as well as some differences between Japanese and American traders. Rob asks if traders tend to be introverts, and how that affects their tendency to share their trading experiences. Later in this show Rob and Brad are joined by trading blogger Jennifer Thornburg to discuss the value of sharing one’s trading journey with a trading partner. Brad talks about how the practice of being more open and accountable with others has benefited his trading, and you’ll also hear some tips for finding a trading partner and beginning that relationship with him or her. Thanks for listening! Links from this episode: Bradley Fried, CEO of Rob Booker Japan, Inc: RobBooker.co.jp Jennifer Thornburg on Twitter: @JenTho3 Daily Trades and Lessons for Traders: TFL365.com

It’s the episode you’ve been waiting for... Your Traders Podcast host, Rob Booker, gives you an in-depth analysis of the Greek Financial Crisis. Rob springboards into this podcast by using a couple of audio clips of James Altucher, an American hedge fund manager, author, and blogger, who describes how he thinks Greece and Europe are related, and the humorous concept of “the Greek contagion.” Rob also discusses whether there is enough exposure to the U.S. banking system for Greece to matter. He gives you his take on the long-term and short-term plays on this Greece news, and to what degree it’s a potential problem. And Rob talks about how the perception of the market is always more important than the reality. And naturally, as one might expect, we close out this episode by giving you the best weapon for surviving during a zombie apocalypse. Thanks for listening! Learn more from James Altucher: James Altucher.com

For all the fans of AMC’s “Mad Men” television show, Rob Booker and his producer, Jason Pyles, draw some parallels between the way traders think about the market and the way the lead character in “Mad Men,” Don Draper, thinks about himself (while also comparing the incompatible double-life of Draper and some traders). Rob also discusses how we often seek to keep certain things about our trading private, and why it’s problematic to have a trading strategy that you don’t want to share with others. Check this one out! Note: This episode contains some spoilers for “Mad Men,” Season 3. Follow "Mad Men" on Twitter: @MadMen_AMC What's coming in Episode 53: The Greek Financial Crisis — a must-listen! Tune in on Monday, June 11, at 8 a.m. EST.