Is Trading Psychology A Scam? - Ep 82

Most Trading Books Are Garbage! - Ep 83

What Is Your ONE THING - Ep 84

Marriage Day - Ep 85

Price Action - Ep 86

Roberto "Let's Try to Make Work Difficult"

Booker Show Notes: What's the fastest way to solve a problem? Could it be ... not doing anything about the problem?

What's the problem with stops? There are two types of traders. One type of trader uses a stop. The other does not. Usually, these two types of traders hate each other. Haha. Right? They argue. They fight. They seek followers to their particular brand of trading religion.

I want to talk about a few ways to make each side correct.

1) If you don't want to use a stop-loss, then reduce your trade size. You will immediately find happiness and peace of mind. You will immediately start winning. You will immediately forget what it is like to be frustrated that you picked the right direction but you got stopped out before you could make any money.

2) If you want to use a stop-loss, then increase your trade size, and extend your profit target, and protect your profits. And scale into the trade, or scale out of the trade. One way to immediately improve your trading (if you use stops) is to slightly increase your profit target.

3) If you don't want to do either of these two things, consider a time stop. I've been playing around with this idea for years. Here's one way to look at it. For example, I'm looking at the open order book at Oanda, the forex broker. I'm looking at this cool graph that shows me where all the orders are. You can actually see in real time, where price is now, and where people took their trades. And guess what? Price is moving up, and most people are short the EUR/USD. That means that as price is moving upward, traders are increasingly staying in sell positions.

Maybe those trades will work out. But probably not. Most people will bail on those short positions before they turn profitable.

What can we do? We could build a system that waits until a lot lot lot of traders are short, while price is moving up, and then we can short it, too, after they've all done that. And then we could hold for 24 hours. Or we could wait for the first sign that traders are accumulating sell positions while price is rising - when sell trades outnumber buy trades - and then we can trade against the crowd, and hold those trades for 24 hours.

A New Way To Think About Stops - Ep 87

We get so many emails. How do you know if an email that sells you a trading product is a scam? 

In this episode, your host “Dark Rob” breaks down an email that looks like a possible trading scam. It turns out the guy selling trading stuff is a pretty good guy, maybe even a great trader, but his email is just terrible.

It’s hard to tell for sure if something like this is a scam. But there are some easy signs that someone is just trying to sell you something.

I get so damn angry about these emails - “The reason you’re a loser,” “They are better traders than you,” or the emails that compare you to bank traders. Why would you want to be a bank trader, with a boss, with a substance abuse habit, with crazy high housing costs, with an office dress code that doesn’t allow Star Wars t-shirts?

The Anatomy of a Possible Trading Scam - Ep 88

EPISODE 89 OF TRADER RADIO:

Why is it that two traders can have the same opportunity - but don’t get the same results?

Take Kylee, for example. She works at my favorite breakfast restaurant. One day she said, I see that you’re running a trading robot. I don’t know how to do that yet, would you teach me how? I did, and now she’s making money. 

Here’s part 1 of her story.

Kylee Who Runs The Robots - Ep 89

EPISODE 90

To be a trader, you must do this one thing

First of all, I'm gonna be here tomorrow, and the next day, and the day after that, and the week after that, and next month, and next year, and ten years down the road.

I love doing this. I love talking to you, working with you, giving you advice that other people are trying to sell you for $10,000.

But I want to tell you something - I am not even close to reaching as many people as I want to reach. We get 10,000 listeners to a good episode of the podcast. That's not even close to where we should be. We can help a whole generation of older people who did not save enough for retirement. We can help an entire generation of young people who aren't going to get a good job, with good pay, at a good company - it just doesn't exist anymore.

Why am I saying this? Because more and more, I am seeing that this is now the world works - every man for himself. Every woman for herself. Companies don't take care of people anymore. 

And guess what the answer is supposed to be? Start an internet company. Start a YouTube channel. Start selling something online. Well, I am gonna tell you - that takes 5-7 years to get up and running. It is hard work. And it's the only long term security - doing it yourself.

How To Become A Profitable Trader - Ep 90

EPISOSE 91

Now, let's get into Arian's actual text message and talk about it:

"I used to trade on h4 and daily time frame after i burn 4 account. I used timothy morge median line (andrew's pitchfork) for 2 years and making 1-2% monthly. Then i went to london for my master and there i get a job to in financial markets. Forex managed account. I managed 200k. But after 1 year of managing fund i suddlnly start to loss money. I couldnt to decide when to trade. After that i lost my trading job and start to trade for my self imean my own fund. Which was leas than 5k. Becuase 1-2% of 5k monthly profit is not good enough for living i changed my trading to scalping and take more risk of each trade. And then just lossing money. Then i start robot trading in forex factory. I just found couple of robots and test them and nothing .... Now there is a simple method called 00 in ff and i subsribed to them and pay 97. He is a nice guy very helpful but i have a day job and i cant follow all his system. Thats all."

And this show is all about the advice I gave to Arian ...

You Are Meant To Do Great Things - Ep 91

Success is about focus, about doing less. Not more.

Trader Radio

Popular tracks