The Day Trading Authority Podcast Episode 4: Trade While You Travel Transcript Part 1
To listen to The Day Trading Authority Podcast and learn how you can transform from
an average trader to a day trading authority, visit us at http://thedaytradingauthoritypodcast.comMark Soberman: All right. Welcome to the NetPicks Day Trading Authority podcast. This is Mark Soberman and I really appreciate you guys joining us today. I am a bit under the weather so I have no idea how my typical golden radio voice is gonna sound in this sickly condition, but the good news is Im always joined by my partner Brian Short who definitely has a voice made for a podcast. Brian, are you with me?
Brian Short: Hi. Im with you today Mark and if I remember right, the very first episode we did, I was the one that was not feeling well and it was very evident in my voice. I dont know. I think you might be trying to draw up some excuses here. Youve been playing hookey for trading or what. I mean, you dont have to do that if you dont really want to.
Mark Soberman: Well, you know, you sound so amazing when, you know, you brought your sickly self to the last few podcasts so I did get a little bit envious, a little bit jealous, and I just was like, You know, what? Im going that road. Im gonna sell that crap too. And, you know, hopefully these people will listen anyway, but, you know, I do apologize. Hopefully, this sounds okay and you guys can kind of hear what were trying to say. Contrary to what, you know, upon his accusations, I actually have been trading. You know, trading is a lot of those things. Its kind of hard to have an excuse not to trade even when youre sick, you know, how much effort does it take to sit at your, you know, your chair, and push a key or push your mouse button.
Now as for thinking clearly, thats a whole another story, but the actual function of trading is not too difficult even when youre sick. I dont know if Ill recommend it, but its really something that you can do. So as always, we definitely appreciate everybody joining us today.
There have been other podcasts but this is the first day trading authority podcast youve had a chance to listen to. Well, youve missed out, so you need to go back, and you need to go ahead, and listen to some of our prior -- do you call them issues? I dont know what you call them, prior podcasts? And you can do that through iTunes. Thats a great way to do it. In fact, you can subscribe in iTunes and whenever you download your favorite new music, well and behold, when we do one of these podcasts, it will magically appear on your iPhone or your iPod. Of course if youre on Android or computer, then by all means you can go to our website at Netpicks.com which hopefully most of you know how its spelled with N-E-T-P-I-C-K-S.com/podcast, and no its not Netflix. Thats what my mom always likes to say. Oh, you know, Marky works for Netflix. Its like, No. Its NetPicks. So anyway, just to clarify that, so actually I probably have a lot more money if I did work for Netflix. Well, these days, things arent so cheaper for them either, but thats a whole another story, and we dont really talk too much about stocks here. We talk about day trading.
So what were gonna do a little bit is you see me and Brian try to talk a bit about some of our recent trading, any stories, things that we can cut of, you know, conveyed to you some recommendations, things that weve encountered, talk about what we kind of consider as a pertinent current event, and one of the things I want to talk about today a little bit was trading when traveling because thats a question that we get a lot and its something that we have to also do quite a bit whether its for leisure or for professional and theres definite things you can do to make that happen. When youre a day trader, youre kind of not gonna make money if youre not in the markets, but how can you actually leave, you know, your cave once in awhile, its kind of important to do that.
Then we always have a popular section of the podcast that we call Tales from the Stupid, and thats where -- well usually Brian talks about dumb things hes done in his trading over the last few weeks, and normally Ill make something up because typically my section of this is the genius section. Thats usually what I have a lot to talk about and then Brian using -- or Id use when I run out of things to say in that section. Ill let him -- Im sure encounter this in a moment, and then the last key piece -- hold on, hold on, is were gonna have an interview of Chris from fxtradingreviews.com which Im pretty excited about because Chris is gonna talk about forex, forex robots, the good stuff, the bad stuff, the hype, the fluff. you know, the crooks. So if youre all interested in forex or day trading forex and this whole robot thing is up your alley, hes gonna talk about it in a very frank, blunt and honest way. So Brian, do you have something to say?
Brian Short: Well, you noticed for those listening how Mark just kept going and going and going there, not even giving me a chance to rebuttal. So I guess well just have to compare --
Mark Soberman: So anyway --
Brian Short: -- stupid remarks today versus mine, so well see.
Mark Soberman: Exactly. All right, yeah, well have our usual competition in that area. So Brian, the first thing I did wanna cover a little bit is we always like to kind of start this off because we are actually amazingly real traders. Were not just educators and we all just talk about trading, you know, that always kind of irritates some people who talk about trading, but I know fully well they actually dont get involved in the markets because you know what, ITS actually a lot easier to talk about trading hypothetically and like a professor than it is to actually get down and dirty. But the good news here is I trade every single day virtually and when Im traveling -- Ill talk to you about it in a moment -- how we trade on the road, but I think I mentioned before, and you know, its gonna change once a month or right now the markets that are most active in definitely are the metals which when I say metals, typically means gold, maybe silver, oil futures and this is mostly futures on the day trading side, the DAX futures, and the Russell, E-mini futures. Thats kind of where Ive been for the most part and I know Brian when he talks about Im sure will be something similar, maybe some differences overall.
So, were a day trader. I am a huge fan of futures trading. I am also trading on a daily basis, the forex but actually I mostly do swing trading in the forex at this point. I have gone through phases where Ive done a lot of day trading in the forex, but I just get better results in the futures because I dont have this fixed spreads. I dont have to worry about the fact that theres no centralized market. I dont have to worry about my brokers freezing up when the markets are on the move which always seems to happen when you day trade.
So on forex, Im a huge fan of swing trading. Im not as solved lately on day trading, the forex, but if you are going to the euro-U.S. dollar and the euro-yen, are pretty good choices for trade trading forex, and maybe the pound-U.S. coming up after that. But when I swing trade in forex, gosh, I open up the whole world of markets. You know, I could do the pound, CAD, the euro-Aussie, the euro-CAD, the Aussie-yen -- stuff I would never consider day trading. So thats really why I like that.
The other thing I wanna mention, in my personal experience since the first of the year, its my DAX futures which if you dont know what a DAX is, its the German stock market and theres something called the DAX, D-A-X. You can also trade something -- it trades on the Eurex by the way, Eurex.com. Its, you know, its not the right market for small-time traders. For small accounts, its 25 euro dollars per point. It moves fast. You know, you dont trade this market with five grand. You got to start with a little bigger account. But if I had to choose between the DAX and the Russell E-mini, which I normally trade the same time, these days I would definitely trade the DAX.
I mean, in my personal trading Ive probably been winning about 75 percent of the time on the DAX which is really solid, gives you really nice return. And the Russell, Ive been closer to that 60 percent, you know, 62 percent, so it could be temporary, maybe something is gonna change, but thats what Ive been seeing. And then if you were to pin me down on gold versus silver, I would probably say if you maybe pick one, I personally would pick gold. I like the slippage better and the movement in my opinion has kind of returned after a bit of a lull. So, you know, thats kind of what Ive been involved in. You know, Brian kind of, you know, maybe the same thing. You know, let the people know kind of, you know, where the action is at for you.
Brian Short: Yeah, very similar story, and Mark, you know, you and I trade together in the mornings which is surely beneficial to have a partner. We get on -- go to meeting and, you know, bantering back and forth. So I trade a lot of the same markets that Mark does. My specific focus --
Mark Soberman: Well, lets just say Im getting -- lets just say, were not sharing like bagel halves or anything. Okay we are --
Brian Short: Were not doing together --
Mark Soberman: -- trading together, but were not together. Were physically in different locations, exactly.
Brian Short: Exactly.
Mark Soberman: Exactly. Hes no harm, in Texas. All right, so I just want to, you know, clarify for the events.
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