TradersAudio

FORMER HOME OF TRADERSAUDIO. Real-Time Squawk Broadcasts from the Trading Floors.

[TradersAudio @TradersAudio]

Took me a long time to learn this one. Doing what’s comfortable and doing what’s right are often two very different things. Still learning. Still working on it.
Process over Prediction.

[BenL @TrendAndTurtle]

This has become a recurring theme in my conversations with Jerry @rjpjr12 - Do the hard thing. Don’t change the rules just to make yourself more comfortable. Don’t justify the mistakes. Be honest with yourself. Pure gold.

[TradersAudio @TradersAudio]

Spent a lot of years around traders. This might be one of the hardest lessons to learn — the emotions don’t go away. The goal is keeping them out of the decision-making.

[BenL @TrendAndTurtle]

The system has no emotions. The trader does. The challenge isn’t eliminating them. It’s keeping them from making the decisions.
Process over performance.

[TradersAudio @TradersAudio]

“Loose pants,” as @rjpjr12 calls it, definitely wasn’t one of the trading rules I learned on the floor. Maybe it should have been.

[BenL @TrendAndTurtle]

“Loose pants” wasn’t exactly on my trend-following syllabus. But the lesson behind it is a good one.
Give the trade room. Follow the rules. Stay with it.
Process over Prediction.

[TradersAudio @TradersAudio]

If you ain’t fishin’, you ain’t livin’. Some things haven’t changed since the TradersAudio days.

[BenL @TrendAndTurtle]

All work and no play… Been putting a lot of time into Trend & Turtle lately. But this is one of the reasons I moved to the Outer Banks. A fishing rod, Bear and a little time on the beach.

[TradersAudio @TradersAudio]

The trading floor taught me a lot of things. Some took years to unlearn. One of them was how I thought about winners and losers.
Funny how some of the hardest lessons in trading have less to do with markets and more to do with ourselves.

[BenL @TrendAndTurtle]

Edwin Lefèvre’s Livermore-inspired character in Reminiscences of a Stock Operator spoke about one of the more counterintuitive things about trading.
@rjpjr12 on how human nature hasn't changed much.
Process over Prediction.

[TradersAudio @TradersAudio]

Thinking about giving away a little piece of trading floor history…One of my original clerk jackets from my days on the floor.
Anyone interested?

[TradersAudio @TradersAudio]

There was no shortage of “tuition” paid during the TradersAudio years.
Some of the most expensive lessons ended up being the ones that stuck with me the longest.
Still studying. Still learning.

[BenL @TrendAndTurtle]

Blew up a couple small trading accounts along the way.
The old timers called it tuition.
At the time, it sure didn't feel like an education. Looking back, I learned a lot more from those losses than I realized.
Process over Prediction.

[TradersAudio @TradersAudio]

TradersAudio was built around immediacy. Markets moved, we moved.
These days I’m learning there’s another kind of discipline — being willing to give something the time it needs.
A very different perspective than I had back then.

[BenL @TrendAndTurtle]

Most of my career in markets everything has felt immediate. The next tick. The next trade. The next headline. One of the harder things I’m learning now is to think differently about time. Not everything needs to happen today. Progress doesn't happen all at once.

[TradersAudio @TradersAudio]

A very different way of thinking about trading than I had during the TradersAudio days.
One of the biggest things I’m learning: the hard part isn’t building the rules. It’s sticking with them when things get difficult.
Process over prediction.

[BenL @TrendAndTurtle]

The system can be simple. Sticking with it isn't.
One thing I'm learning is just how difficult it can be to trust the process when things aren't going your way.
That's when the real test begins.
Process over prediction.

[TradersAudio @TradersAudio]

Two years ago this week, I moved to the Outer Banks.
Today felt like a good day to look back.
From the trading floors in Chicago and TradersAudio — including days like the Flash Crash — to starting over and building Trend & Turtle from the Outer Banks.
It's been a long road.
There are plenty of things I'm still trying to figure out. But every once in a while, I think it's important to stop looking at how far you still have to go and appreciate how far you've already come.
I'm proud of the journey. And I'm proud of what I'm building.
The experiment continues. 🐢
https://t.co/zNo0y8BvS5
#TrendAndTurtle #TrendFollowing #Trading #TradersAudio

[TradersAudio @TradersAudio]

One of the things I’ve been thinking about a lot since the TradersAudio days:
Making money doesn't necessarily mean you did the right thing. Losing money doesn't necessarily mean you did the wrong thing.
Do the right thing. Do the hard thing. Follow the rules. 🐢

[TradersAudio @TradersAudio]

After years of focusing on what the market did — and what I made or lost — I'm learning to look at it differently.
Did I follow the system? Did I take the trades the way I was supposed to?
Grade the process, not the P&L.
This is what I'm documenting at @TrendAndTurtle. 🐢

[BenL @TrendAndTurtle]

One thing I’m learning: the P&L isn’t the grade.
Did I follow the system?
Did I take the trades the way I was supposed to?
That's the grade.
Process over prediction. 🐢

[TradersAudio @TradersAudio]

One of the things I've enjoyed most about these conversations is getting beyond the mechanics of trading.
The rules can be straightforward. Following them when things get uncomfortable is something else entirely.
This is what we're exploring at @TrendAndTurtle. 🐢

[BenL @TrendAndTurtle]

The hard part isn't the rules. It's following them.
Losing money. Drawdowns. Doubt. They're part of the game.
The challenge is having the confidence in your system to keep doing what you're supposed to do.

Process over prediction. 🐢

[BenL @TrendAndTurtle]

The hard part isn't the rules. It's following them.
Losing money. Drawdowns. Doubt. They're part of the game.
The challenge is having the confidence in your system to keep doing what you're supposed to do.

Process over prediction. 🐢

[TradersAudio @TradersAudio]

A lot has changed since the TradersAudio days, but markets are still what I love talking about.
Here's a piece of what we're exploring now with Trend & Turtle.

[TradersAudio @TradersAudio]

You can’t become a Marine just by reading the handbook. Sometimes you need Turtle Boot Camp. 🐢
Episode 7 of Trend & Turtle with @rjpjr12 is live.
Taking every trade. Accepting losses. Letting profits run. Following the system.
https://t.co/XsBVY5QaMH

[TradersAudio @TradersAudio]

Trading. Rules. Mistakes. Lessons. The whole journey.
I’m documenting it all on Trend & Turtle.
If you’re interested in systematic trading and process over prediction, come follow along.
https://t.co/9boFkm5idf

[TradersAudio @TradersAudio]

The experiment continues... One position. 125+ days. Process over prediction https://t.co/CTaKMzuZlq

[TradersAudio @TradersAudio]

Don’t just do something, stand there.
One of the hardest things to learn as a trader is that you don’t always have to be doing something.
And when you do trade, there should be a reason you’re doing it.
A few thoughts on overtrading, consistency, and what I’m learning on my journey into systematic trend following.
https://t.co/Zrci3dg6yp

[TradersAudio @TradersAudio]

“Choose The Hard Right Over The Easy Wrong.”

Simple words. Much harder in practice.

Episode 6 — Following The Rules.

Do the hard thing. Trust the system. Stay consistent.
https://t.co/scAw83HBFf