In Episode 576 of The Traders Podcast, your host Rob Booker talks to the producer Jason Pyles about a text he received from Paul, who works a full-time career as a pilot. Because Paul travels on long-haul flights, it proves to be difficult for him to monitor his trades.

Many currency traders complain that they can’t trade as their full-time job because they already have to work a non-trading-related full-time job and can’t be distracted by devoting their time and attention toward the markets. But that’s where automated trading can be helpful. In Episode 576, Rob talks about some of the finer points of robot trading.

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

Links for this episode:

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

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

TFL365.com

Trader Interviews.com

Jason’s movie podcasts:
Movie Podcast Weekly Jason’s comedic show where he and some friends review new movies in theaters.

Movie Podcast Network Twitter: @MovieCastNetwrk

Full Episode Transcript:

Rob: Mr. Pyles, I got a text message from one of our listeners.

Jason: Oh, did you? I love when the listeners text you at your personal phone number.

Rob: All right. So years and years and years ago, like when we were doing trader radio.

Jason: Mm-hmm.

Back in the day.

Rob: A hundred years ago, one of our listener’s name was Paul. I won’t give Paul’s name, but one of our listener’s names was Paul. Paul’s a long haul pilot for Delta. London, Paris, Amsterdam, Barcelona, Beijing, Dublin, Honolulu, Japan. Now, Delta doesn’t fly to Houston, so I don’t get to see him. Well, he texted me the other day. I haven’t heard from him in just years. He texted me. Now he’s doing a route from wherever. I don’t know where his home base is now, but Salt Lake and also Honolulu, which is just awesome stuff. Anyway, he’s like I’m getting back into it. Here’s what he writes, he writes, “Hey. I just grabbed your lifetime membership deal. I’ve known you for a long time. Have you lost your mind? That’s a lot of value. Thank you. Looking forward to getting some time with you between flights. I need to fly less, help my folks, and help my family. One of my family members has an issue with vertigo. Plus I’m going to retire someday. Wouldn’t mind cutting that retirement short. Move to Florida a few years ago from Long Island. Hope’s all well with you. My cousin is near to you in Houston and she works in mission control maybe we can go on a tour of a lifetime if I go over there.”

Jason: Oh, nice.

Jason: Lots of updates there.

Rob: How would you handle trading if you were a pilot and all these long haul flights? I remember talking to him about this.

Jason: Oh, my.

Rob: Way back when. Like how difficult it is to juggle flying, trading, all that stuff.

Jason: Well, I think there are two ways to handle it. At least two that I can see, Rob. It’s have a trusted trading partner for when you’re in the air, or to use a stop loss, right?

Rob: Yeah, that’s a good plan.

Jason: Okay. So those are probably the boring answers. I bet you have a more exciting way.

Rob: No, I love your answers. I love it when you comment on this stuff.

Jason: Okay. I know because it’s like …

Rob: I love it. I’m in the process now a year plus ago, I interviewed on the podcast on Trader Radio, I interviewed Scott Haywood who was, at the time, had gone from a dollar a day to a thousand dollars a day then got up to $2,000 a day by trading the robot. The robot is lovingly referred to as Finch. Still running. Still hundreds and hundreds of people out there running the robot. There’s a new version of the robot that is come out. I call it the Dr. Bill Finch because Scott Haywood and Dr. Bill in Los Angeles, who’s a real doctor, anesthesiologist, and Joel, super genius, former IT director at a major American university, and Steven, a ex-Marine. Anyway, just an awesome crew. I would call us the trading expendables.

Jason: Yes. Yes. I like this.

Rob: Get an imagine in your mind. As a side note, last night I got out of bed because I couldn’t sleep. The reason I couldn’t sleep is because I needed to see Rocky 2. Rocky 2 opens up by literally playing the end of Rocky 1. That’s the beginning of Rocky 2. It is some of the most gripping movie film that you can ever watch is some of this stuff. Unless you hate violent sports and that’s, of course, you get a pass.

Anyway, so being in the expendables. The expendables and I, we get together and we sort of formed a group of people who test and experiment and built and refine this robot to reduce its draw down and in some cases use a stop. In other cases, not use a stop. Dr. Bill reached deep into the Rob Booker archives of materials that I’ve taught over the years, and he made a refinement to the Finch robot that I now lovingly refer to as the Dr. Bill Finch. This one reducing the draw down and has a very consistent track record over the worst periods of time. 2014, which is garbage for robots and early 2017, which is double garbage for robots. The early 2017 is the financial equivalent of Rocky’s left eye in Rocky 1. You got to cut it open and let it bleed out in order for it to get better.

Jason: Right.

Rob: This robot refined things in a way. He just used stuff that I’d taught in the past, and he paid a programmer to build it. This refines that robot to the point that it’s consistent, the draw down is lower, and we’re in the middle of testing it. We have a new member of the back testing expendables. His name is Frederick. Frederick’s in Lexinburg, another lifetime member.

Jason: Mm-hmm.

Rob: Frederick is just pounding out the tests in meta-trader using our friend Daniel’s portfolio tester. We are fast approaching a time where I could say everyone listening who is a pilot. Just kidding, I know that that’s a really small number of people.

Jason: Right.

Rob: Anyone listening that doesn’t want to sit in front of the computer. Anyone who wants to get exposure to this stuff, but literally there’s no way that you’re going to sit there and day trade, which I don’t know why anybody would want to do in the first place. That seems like a complete waste of time. Anybody that wants to do that could actually run that robot and not have the same risk of significant draw down because it does kind of filter out the trades. It’s more selective. Salon selective. It’s really selective. You’re worth it. You’re worth it.

As you can tell, I’m really excited about it. That’s what I would suggest to someone like Paul. You get that thing running because when you’re in the air, when you’re on the ground, when you’re with your family, what you’re going to do is you’re going to check in on it, but it’s going to run in the background. Every once and a while you’re going to need to get together with your family of traders and you’re going to need to tackle a problem that might have arisen. The robots turned off or the server went down or one trade didn’t close out at its profit. You’re going to have to deal with problems, but you’re going to be an asset manager. You can’t do this trading as your full-time job because you have a full-time job, and it’s hundreds of people in the back of a giant flying metal thing.

Jason: Right.

Rob: You can’t trade during that.

Jason: Mm-hmm.

Rob: So that’s what I would suggest.

Jason: I like that. Is Scott Welch apart of the trading robot expendables?

Rob: So Scott Welch would be like Jason Statham. He’s on the fringes. He’s so good and he’s so dangerous that he’s on the edges of it.

Jason: He’s so dangerous.

Rob: He’s just almost too dangerous for us.

Jason: Right. Right. I can see it.

Rob: No, he doesn’t do our same robot. So he has his own collection of robots, which are awesome.

Jason: I see.

Rob: On that note, I’m actually creating some of these robots now for stocks to run when the trade station platform.

Jason: Neat.

Rob: I’m very excited about that, Jason. It’s going to … In our last episode, we talked about buying value stocks on a dip. I have a way of doing that and we’re going to put that to work in the stock market. Then I’m going to be running … Remember, I said if the long term way to get rich off of Bitcoin is not to trade Bitcoin, it’s to take extra $200, $300, $400, $500, whatever you can per month, and buy value stocks.

Jason: Yes. You did.

Rob: That’s exactly what this robot will do. It will just do it automatically without you having to think about it.

Jason: Nice. That’s nice. Well, I hope you have followed the Dwight Shrute advice from the Office where you give the robot just a six foot cord in case you can unplug it if it turns on you.

Rob: I don’t remember that one. Scott Welch is going to love that comment.

Jason: That’s one of the funniest. I just love it. Anyways …

Rob: That’s pretty great. That’s pretty great stuff.

I have some news for anybody that’s interested in any of that. So I had some news that that robot is done. That robot is complete. That robot is ready. You can just … I don’t know. You can go to RobBooker.com. That’s the best place to go. You want more information about that stuff. But we put the robots on sale because I know a lot of listeners are going to want to see that. Some of you have been thinking about it for long time, so we put them on sale. It’s the end of the year and we’re having the online trading version of the Toyota-thon. You know, the end of the year sale. So go to RobBooker.com and I will put a link on the home page. It’ll just be a giant link on the home page with a robot with a six foot cord.

Jason: It should be you like jumping up in the air really slowly and then they freeze frame it when you’re half way up. Remember that? Oh, what a feeling.

Rob: Oh, right. Okay. I’ll do that in the office right now. I’ll take a picture of that. That’s a great idea.

Jason: I’m full of them today.

Rob: We call it the Rob-athon.

Jason: Right.

Rob: The Bot-athon.

Jason: Love it.

Rob: That’s actually … Yeah. On the 12th day of the bot-athon … Yeah, that’s good. My true love said to me Dr. Bill Finch … Yeah, go get it everybody. Do it. The bot-athon. That’s what we’re going to call it. Whatever. But, hey, you know what to do, people.

Jason: Mm-hmm.

Rob: Get the robots.

Jason: That’s right.

Rob: Jason, I had a question for you in the last episode and I forgot to ask it.

Jason: Okay. Let’s hear it.

Rob: You keep talking about a movie about a billboard.

Jason: Oh my goodness. Yes. It’s called Three Billboards Out Ebbing, Missouri. I know that’s not …

Rob: You’re just joking around with me now. There’s no way that’s the real …

Jason: I know. That’s what everybody says to me when they hear that. It’s not the sexiest title, but it is about three billboard outside of Ebbing, Missouri, except that’s a factious place. But it’s amazing. Do you like Francis McDormand? Do you like Fargo?

Rob: Yeah. A lot.

Jason: Okay. Well, see, if you like that, I think you’ll love this. It’s not a Cohen brother’s film, but it has that feel.

Rob: It has that feel to it.

Jason: It sure does. It’s a very dark comedy. It’s a crime drama. It’s very violent, as well, but hilarious. I saw it with a couple of friends in the theater. It was uproariously just a good time. I was crying laughing. Hilarious.

Rob: Where can people hear about your review of that movie?

Jason: Mm-hmm. MoviePodcastWeekly.com.

Rob: All right. Thanks, Jason, for your advice and your thoughts and your movie recommendations and your friendship.

Jason: Absolutely, Rob. My pleasure. It was fun to be here today.

Rob: We’ll see you next time everybody. We’re on every Tuesday and Thursday. Download us on iTunes. Wherever delicious podcasts are consumed and leave us a review. I like to read the reviews of the show and see what you think of the show. So if you could jump on over to iTunes and leave us a review or rating, that would be spectacular. That’s something you could do for us that we would really appreciate and really helps us out.

Jason: Mm-hmm.

Rob: And love the crap out of all y’all. We’ll see you later everybody. I’m Rob Booker. He’s Jason Piles. This is the Trader’s Podcast.

We’re not really known for being conspiracy theorists, but in Episode 575 of The Traders Podcast, your host Rob Booker and the producer Jason Pyles discuss the continued meteoric rise of bitcoin and whether it is the target of North Korean hackers.

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

Links for this episode:

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

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

TFL365.com

Trader Interviews.com

Jason’s movie podcasts:
Movie Podcast Weekly Jason’s comedic show where he and some friends review new movies in theaters.

Movie Podcast Network Twitter: @MovieCastNetwrk

Full podcast transcript:

Rob Booker: Mr Pyles.
Jason Pyles: Hey Rob. Good morning.
Rob Booker: I was wondering if you would like to travel to North Korea to teach the people there about bitcoin?
Jason Pyles: Probably not.
Rob Booker: Probably not, so that’s a no?
Jason Pyles: Well …
Rob Booker: That’s a hard pass?
Jason Pyles: Well, yeah, I’m not sure. I’m not sure. What kind of other vacationing opportunities do they have there?
Rob Booker: Well, they have a … Okay nothing.
Jason Pyles: Okay.
Rob Booker: Really nothing. Absolutely nothing. There’s nothing going on. Did you know, according to Vice News, David Gilbert of Vice News reports that students at Pyongyang University, has been accused of training North Korea’s state hackers. All right?
Jason Pyles: Oh.
Rob Booker: The university and the government invited Federico Tenga, who is the Italian founder of a bitcoin startup, they invited him to travel to the capital in North Korea and teach more than three dozen of the countries elite mathematical and programming students about bitcoin.
Jason Pyles: Sounds comical for some reason. I don’t know why.
Rob Booker: Okay. Okay. Fair enough. It sounds comical. Here’s the part that’s frightening. This is the world’s leader, I mean, next to Russia. This is the world’s leader in hacking. Bitcoin has shown itself susceptible to hacking. Could you imagine now, a world in which, now that bitcoin is reaching 10,000 or so … Could you imagine a world in which all these people, over 100,000 new bitcoin accounts were opened on Thanksgiving day at Coin Base. Just one wallet. Just one wallet provider. Just one place on one day, grew by 100,000 accounts. Could you imagine if bitcoin was, in some way, shape or form, at some wallet provider, hacked again. I know I’m gonna get a lot of comments from listeners, cause every time we talk about this, I get corrected and that’s fine. I stand corrected on a number of issues regarding bitcoin. I’m not afraid to be wrong. It helps me learn. Could you imagine the potential to hack into bitcoin wallets. We’re now talking, not about millions, but tens of millions, or hundreds of millions of money that could be stolen. This is the wild west, Jason.
Jason Pyles: Wow. It sounds crazy.
Rob Booker: Why would this guy travel to North Korea, and teach them about it?
Jason Pyles: Hm. It must of-
Rob Booker: What’s wrong with this guy?
Jason Pyles: It must have a pretty good paycheck, right?
Rob Booker: Must have been. It must have been some kind of payday. I imagine they paid him in bitcoin.
Jason Pyles: Right. Exactly.
Rob Booker: I mean, I don’t know.
Jason Pyles: It’s what I’m guessing.
Rob Booker: Earlier this year, to add to this … I read this in another source. Cyber security, a company reported that someone from the North Korean capital, originating from IP addresses in North Korea, attacked at least three South Korean crypto currency exchanges, and used the fact that bitcoin is anonymous in its exchange, as a way to avoid the financial sanctions that have been imposed by the US and other nations in response to their nuclear tests. That’s absolutely frightening.
Jason Pyles: It’s slick. You gotta admit, that’s pretty slick though, right? I mean, that’s a …
Rob Booker: Yeah.
Jason Pyles: one way around it.
Rob Booker: I mean, it’s too late now, to get into bitcoin. It’s funny. It just seems too late now, to so many people. I’m certainly not going out there and buying any bitcoin, or whatever. I have a bitcoin wallet. I didn’t get in early like our friend, the commander, Rob Wilson, or anything else like that, but … There are other cryptocurrencies coming online, not every day, well, probably every day, but …
Jason Pyles: Right.
Rob Booker: You know, legitimate ones maybe, not every so often, but there still are brand new ones coming online. It makes me wonder at 10,000, there’s this rumor circulating now.
Jason Pyles: Okay.
Rob Booker: When it hits 10,000, that’s when everybody’s really gonna start getting in. That sounds crazy to me. Imagine that, that’s when a lot of people stand up and take notice and say, “Oh my gosh.” This is now at 10,000. If it’s at 10,000 now, it’s going to be at 20,000, or 100,000 in a couple of years. That’s the way people are talking Jason.
Jason Pyles: Wow.
Rob Booker: Does that sound rational to you?
Jason Pyles: No, because … You know, at some point, the other boots gonna drop right? The bubbles gonna pop.
Rob Booker: I guess. We’ll get accused of … I’ve been wrong about this now, before. I’ve been right about this, and wrong about this. To put it into perspective, hundreds of episodes ago, literally …
Jason Pyles: Yeah.
Rob Booker: Years ago, we called for 10,000 and 20,000 dollars in bitcoin. You can find those episodes at traderspodcast.com. A long time ago, when bitcoin was trading at, I think hundreds of dollars, we talked about it getting to 10,000 or 20,000. I’m not a bear on bitcoin. I don’t think it’s wrong or bad. I think it’s revolutionary. And then recently I was wrong. It looked like it was ready for a … It did correct, but I didn’t get the strength of the correction right. It corrected like we talked about, but it didn’t go far. I didn’t get in. I didn’t buy any, and then it just shot right up over the holidays. It shot up over the holidays Jason, because everyone was …
This is really what happened. People got around the dinner table at Thanksgiving and instead of arguing about politics, which most families want to do, people talked about bitcoin. You could do it 24 hours a day, through Coinbase for example, which has really high fees, but I mean, it’s an easy way for people to do it. You know, whatever. People stopped what they were doing at dinner, and they got a Coinbase wallet, and they got themselves bitcoin, over the holidays.
Jason Pyles: That’s pretty funny. I don’t know. We just watched Brian Reagan after dinner.
Rob Booker: Okay.
Jason Pyles: On Netflix.
Rob Booker: Yeah.
Jason Pyles: Yeah, it sounds like that’s exactly what happened. You’re probably right about that Rob.
Rob Booker: This isn’t over. I mean, if you think about … If you wanna call it a bubble, I think that’s interesting, but until it stabilizes, it’s, as far as I’m concerned, it’s just another asset, like the technology stocks, until it stabilizes. At some point in time, this will end … The fanaticism will end around it. The people who don’t know what they’re doing and whatever else. And then bitcoin will settle into a range, and it will be a more stable financial instrument. And then Amazon …
Some people say Amazon in some countries is already accepting bitcoin, but at some Amazon will start accepting bitcoin. Walmart will start accepting bitcoin. Then at that point it’s all over. Then it’s just gonna be a real thing. It’s not gonna be an asset that appreciates anymore. It’s just gonna be a real … It’s just gonna be something that we use in our daily lives.
Then, the government’s gonna come in a try to regulate it or whatever. I think it’s gonna be really difficult for them to do that. I guess they could prohibit the transfer of money onto bitcoin exchanges. They could do that. They could say that’s illegal. That seems exactly like the kind of thing that the government would overstep it’s bounds and do. Would that anger you, if the government said that?
Jason Pyles: Oh. I guess it’s a little … Yeah. It’s a little concerning.
Rob Booker: Yeah, me too. I wouldn’t call myself a conspiracy theorist, Jason Pyles, but …
Jason Pyles: Right. Yeah.
Rob Booker: A few years ago, the government said we could no longer open up currency trading accounts outside the US. That means we couldn’t open a … You can open a bank account outside the US. That’s totally legal. You can open up all kind of financial accounts outside the US, but they said, “No. You can’t open up a currency trading account outside the US.” That [inaudible 00:08:08] total overstepping of the bounds. Complete invasion of someone’s independent economic sovereignty. I mean, at some point in time, people are just gonna opt out of the system. At some point, people are gonna say, listen. You get your greedy little paws off of my … I’m even willing to pay taxes, even though some people feel that, that’s unfair. I mean, I’m even willing to pay taxes, but just stay out of my friggin’ business.
Jason Pyles: Right.
Rob Booker: I’ve been wondering. I’ve been waiting to ask you this. Where is the next financial … You know what I’m asking. You already know what I’m …
Jason Pyles: Where is it coming next?
Rob Booker: Yeah. I mean, is it too late? I missed this. I was thinking the other day. If I took 100,000 dollars, in December when I went and visited Rob Wilson … If I took 100,000 dollars back in December of 2016 …
Jason Pyles: Okay.
Rob Booker: I had bought bitcoin. Let’s go back on the charts here. Let’s say, Jason … Let’s say you took 100,000 dollars also. Let’s just say you …
Jason Pyles: All right.
Rob Booker: You know, you took 100,000 dollars of your hard earned podcasting …
Jason Pyles: Yes.
Rob Booker: spoils. And let’s say that on December third, I was Sydney Australia, hanging out with Peter and Diane and the crew. Let’s say that we did that then. Bitcoin would be trading at 762 dollars to the dollar. You would have bought, for 100,000 dollars worth of bitcoin. You would have gotten it at 762 and it would now be 12 times. Let’s just round it up. It’s 12 times higher than that.
Jason Pyles: Wow.
Rob Booker: You would have 1.2 million dollars, and it would be less than a year.
Jason Pyles: Oh my goodness.
Rob Booker: As we speak now, bitcoin will hit 10,000 dollars, as of today, the day we’re recording this episode. Bitcoin will hit 10,000.
Jason Pyles: Rob, here’s my question. Obviously, like you were saying, at some point, it will stabilize, but … You know, by the time it gets there … When that happens, some people will be very wealthy, and will other people be destroyed, if they’ve gone all in? I mean, is that how it works? Is this gonna lead-
Rob Booker: Well, it’s the only way to do it with things like this. You take a small amount of your money and you go all in. The problem is, this is like getting hit by lightening. Not only is it almost impossible to have happen ever. You don’t really know if you want it to happen. You know, suddenly striking it rich can, as much as we all like to think that, that doesn’t necessarily lead to a lot of good things in one’s life.
Jason Pyles: Right.
Rob Booker: I met the guy who won at the time, the largest power ball jackpot of all time. I met the guy. He lived in West Virginia. Do you remember the story of this guy?
Jason Pyles: That sounds familiar, but no. Tell it. Do tell.
Rob Booker: He was already a millionaire, and he won 500 million. He used to drive a truck around and he used to … Inside the truck he used to, at all times, keep a few hundred hundred thousand dollars sitting in the truck …
Jason Pyles: Oh wow. Okay.
Rob Booker: and was robbed repeatedly, stolen from. Eventually, lost everything. He was a West Virginia guy. Just old country boy from West Virginia. Eventually lost everything. The stories of athletes hitting the jackpot and then two years after they leave the league, becoming bankrupt. The stories of people who win the lottery, going bankrupt are frequent enough that it defies coincidence. There’s a connection. I mean, it’s not like you want to strike it rich like this. It’s not like that’s what you want.
I get text messages and email every day Jason, from people who say, “You know, where’s the next one? I missed out on this one.” The answer is always this, There is always something you can do to make an extra thousand dollars a month, or even 500 dollars a month. There is always something you can do to do that. And then, you can always buy a collection of financial instruments, which have demonstrated value, such as …
You just look at value stocks. Read the old Benjamin Graham book, or the works of Warren Buffet. You look at value investors, which are not in vogue anymore. You should run toward that right now. That’s what you should be doing right now, because it’s not longer in vogue. It always falls out of favor when the stock market’s running up, because value stocks and the companies that have assets, and return on their investment, they always go down, or they don’t do as well as the companies that are high flyers, or developing the new app that delivers a peanut butter and jelly sandwich to your door 24 hours a day, or you can date a peanut butter and jelly sandwich.
Jason Pyles: Right.
Rob Booker: Do disgusting things with the peanut butter, whatever it is. You take that extra money you’ve made on the side, and you get a list of value stocks. These are the traditional companies that are overlooked, that split into their separate parts are worth more than what they’re trading at now. You take that five hundred dollars, or thousand dollars and you just plow it into those financial instruments. It’s not gonna appreciate like bitcoin will, within a year. Over the course of the next 10, or 20, or 30 years, is not guaranteed, but has an enormously high probability of success. Beyond anything, once again, that can be tied to coincidence, and that’s the way it’s done traditionally. Everyone can do that.
It’s fascinating that we’re so enamored with what no one can do anymore. No one can get in on bitcoin at 762 dollars. It’s a shame that I didn’t take 100,000 dollars, because today I would go right now, and I would buy five 911’s, or I’d buy one Porsche 911 R. Right now. I’d just go do it right now. That’s what I would be doing. I wouldn’t even be podcasting with you, and we’d all be sorry for that.
Jason Pyles: Yeah. That’s true.
Rob Booker: Yeah, so, you can do that, and yet no one does it. Right now, you can put 500, or 1,000 dollars a month, with a side job, or a little side business, or selling stuff off, or selling your neighbor’s furniture. Just kidding. Whatever. Everyone can make an extra something per month and put that into value stocks and hold those forever. Everyone can do that. Yet, no one does.
Jason Pyles: Right. Yeah. It’s too gradual. They want the faster, quicker answer right? The overnight.
Rob Booker: Yeah. Okay, so maybe we could walk through that. I mean, yeah, we do want that. We want the quicker stuff. We want the excitement that goes with it. We wanna be able to brag about it.
Jason Pyles: Well, okay. There’s a song. I’ve been hesitant to bring this up Rob, cause …
Rob Booker: Okay.
Jason Pyles: I think that enlightened climate or culture that this [inaudible 00:15:12] could be viewed as distasteful. Do you remember that song, maybe even a little chauvinist. If you wanna be happy for the rest of your life, make an ugly woman your wife, or something like that. It’s a terrible song. Okay? I hate that song, and both you and I married beautiful women, so you know … Anyways, I’m just saying, that song reminds me of this situation that you’re talking about …
Rob Booker: Yeah.
Jason Pyles: Where, it always seems like the advice is, you know, forget about this get rich quick stuff, and just, you know …
Rob Booker: Do what is ugly.
Jason Pyles: Yeah, do what is ugly. Make small gains, and you’ll be happy. That’s what you gotta do, but it’s like, nobody’s like … Eh, no thanks.Rob Booker: Spike Lee’s, Do the ugly thing.
Jason Pyles: Yeah. That’s right.
Rob Booker: That is a brilliant comment. As usual ….
Jason Pyles: Thank you.
Rob Booker: You make the most insightful comment that, in this podcast could literally be 15 seconds long.
Jason Pyles: Right. Well, I just hope that our listeners don’t think that’s chauvinist. I didn’t write that song, just for the record.
Rob Booker: Yeah. It’s not like you really believe it.
Jason Pyles: No. No. No, I …
Rob Booker: If you do what’s fallen out of favor, what is unpopular, and you do … It’s not even about hard work, Jason. It’s not even about that. It’s just about doing what has been proven to work.
Jason Pyles: Yeah, I mean it’s the same thing with eating healthy or exercising. It’s like, “Okay. Yeah, but that’s not fun.”
Rob Booker: Yeah.
Jason Pyles: It’s like, you want your body to look good. You wanna feel good. You wanna get healthy. You know, eat these carrots, and this salad. That’s like, “Nah.” You know, I’d rather …
Rob Booker: Is there any other way I could possibly do it?
Jason Pyles: Yeah. Yeah. I mean, the answers are there for people in these situations. We don’t want those answers. Myself included.
Rob Booker: Well, Jason, how can people argue with us about this show?
Jason Pyles: Well, they could actually text you at your cell phone number, if they want. It’s 304-281-8332. They could leave us a comment in the show notes for this episode at traderspodcast.com.
Rob Booker: Where can traders, who are interested in movies hear your podcasts about movies?
Jason Pyles: Moviepodcastweekly.com. I would highly recommend Three Billboards Outside Ebbing, Missouri. It’s a very dark, comedic crime drama a la Fargo. You know, a lot like Fargo. Pretty violent, but pretty hilarious. Check it out.
Rob Booker: Very nice. All right. We’ll see you next time everybody. I’m Rob Booker on behalf of Jason Pyles, the greatest producer in podcast history. You’re listening to the Traders Podcast.

Happy Thanksgiving from your friends at The Traders Podcast! In Episode 574, your host Rob Booker talks to the producer Jason Pyles about his disappointment with the iPhone X and smartphone culture in general. Listen as Rob considers taking a hiatus from smartphones for a while.

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

Links for this episode:

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

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

TFL365.com

Trader Interviews.com

Jason’s movie podcasts:
Movie Podcast Network A group of eight movie-related podcasts covering new movie releases and many genres: sci-fi, horror, western, etc.

Movie Podcast Network Twitter: @MovieCastNetwrk

Good morning traders! Welcome to The Traders Podcast with your hosts Rob Booker and the producer Jason Pyles. Today we are bringing you episode 573. Listen in as we talk about the tax cuts we have been hearing about in the news, surely you’ve been hearing about them, too. Is this new tax plan really going to be a reality? And if so, what would the repercussions be?

Throughout the show we land on the idea that it is OK to be wrong. Rob recommends checking out the book Thinking Fast and Slow by Daniel Kahneman. Thanks for joining us!

The Traders Podcast releases new episodes every Tuesday and Thursday. Subscribe free in iTunes!

Links for this episode:

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

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

TFL365.com

Trader Interviews.com

Jason’s movie podcasts:
Movie Podcast Network A group of eight movie-related podcasts covering new movie releases and many genres: sci-fi, horror, western, etc.

Movie Podcast Network Twitter: @MovieCastNetwrk

In Danzan Ryu Jujitsu (and other forms of martial arts), taking falls is inevitable. A martial artist will be thrown, and he or she must learn how to fall like a black belt to avoid major injury. There are two ways to take a fall: the way your opponent wants to throw you, or you can actually choose to take control of your own fall and assist your opponent in throwing you so you can remain in control of how you fall and particularly how you land. This is how you fall like a black belt and avoid getting injured.

In Episode 572 of The Traders Podcast, your hosts Rob Booker and Jason Pyles draw some parallels to the inevitability of taking a financial loss when trading the markets (and being in control of your own “financial fall” to avoid catastrophic injury). We discuss the inevitable and eventual fall of Bitcoin and whether that great fall is nigh… Join us!

Links for this episode:

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

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

TFL365.com

Trader Interviews.com

Jason’s movie podcasts:
Movie Podcast Network A group of eight movie-related podcasts covering new movie releases and many genres: sci-fi, horror, western, etc.

Movie Podcast Network Twitter: @MovieCastNetwrk

Welcome! In Episode 571 of The Traders Podcast, your hosts Rob Booker and the producer Jason Pyles talk about the benefits that come from experience.

Have you ever noticed how you can tell in the first few minutes if a movie will be good or bad? You just know! You’ve probably had a lot of experience with movies and you know what to look for to identify a good movie. Applying the same concept to trading, let’s talk about intuition.

How can you tell in just a few minutes if a trade is going to be good or bad?

There are 3 phases that every trader goes through. First, the trader is excited about all of their trades. Second, the trader experiences boredom. And third, the trader starts to break out of the box. But here’s the key: in order to break out of the box a trader must have the experience under their belt to help them have that all-important intuition.

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

Links for this episode:

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

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

TFL365.com

Trader Interviews.com

Jason’s movie podcasts:
Movie Podcast Network A group of eight movie-related podcasts covering new movie releases and many genres: sci-fi, horror, western, etc.

Movie Podcast Network Twitter: @MovieCastNetwrk

Welcome! In Episode 570 of The Traders Podcast, your hosts Rob Booker and the producer Jason Pyles talk about an important lesson: the recurring cycle in the markets which teaches us that anticipation is more powerful than reality. Rob talks about this principle in relation to the stock market’s reaction to the expectation of tax cuts.

We also talk about the problem with deciding how we think things should be rather than recognizing the way things actually are. Rob also tells us about an in-flight discussion he had with an oil trader. Thanks for listening to The Traders Podcast. We release new episodes every Tuesday and Thursday. Subscribe free in iTunes and join us!

Links for this episode:

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

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

TFL365.com

Trader Interviews.com

Jason’s movie podcasts:
Movie Podcast Network A group of eight movie-related podcasts covering new movie releases and many genres: sci-fi, horror, western, etc.