Our guest this week, Rob, is a part of Discovery Trading Group and prefers to remain on a first name basis only, although some may know him as RG.
Rob is an active futures traders and could be called a true scalper, but he thinks of himself as a “street level gambler with an appetite for risk.” He’s a short-term trader, only trading for a couple of ticks at a time, and a member of a quantitative research firm trading a spectrum of strategies, over varying timeframes, in several markets.
In today’s podcast, we dive into Rob’s earliest years of trading in the 80’s and how he’s become the trader he is today. Rob will also explain the importance of risk management, share a few gambling analogies, and discuss the benefits of communicating with other traders on a regular basis.
What’s Covered in This Interview:
- How legendary trend followers inspired Rob to get into trading.
- Why declaring periodicity is a must when looking at any given trend.
- How traders who came up in the “secretive” era of the 80’s were able to avoid the retail traps common today.
- Rob looks back at how an attempt to reduce “key man risk” ended in failure, but started a quant research firm.
- Why risk management matters more than anything, entry points are practically irrelevant, and “gambling” shouldn’t be a dirty word.
- What traders on a retail level don’t account for in managing their risk, and the average trader’s duration (as reported by a clearing firm).
- How Rob has become five times the trader just by vocalizing trades and interacting with other active traders.
Links and Resources:
- MarketDelta.com – Rob mentions this trading platform, primarily used for footprint charts, order flow analysis, market profile, and volume profile.
- Webinar Series – A three-part webinar series he did with MarketDelta, which is available on YouTube.
- DiscoveryTradingGroup.com – Visit the DTG website to learn more about Rob and their trading truths.
- @DiscoveryTrader – Rob and DTG are also on Twitter – follow them here.
