Trading Podcasts

Introduction to Podcasts

Podcasts have been popular for around ten years now and are continuing to grow in popularity all the time.

In case you didn’t already know, they are basically episodic audio files that you can subscribe to and automatically download to your personal devices, and listen to at your own leisure.

They typically take the form of interviews, discussions or radio shows, for example, and are ideal for learning about a new topic.

There are podcasts that cover a multitude of different topics, so as you might expect, there are now several good quality podcasts available that are devoted to forex trading and stock trading.

Benefits of Listening to Trading Podcasts

I personally subscribe to several of these podcasts and really enjoy listening to them every week, even though I am already a seasoned trader myself. Here are some of the reasons why:

Motivational

Many of the trading podcasts feature a host and a guest speaker, and the guest that is being interviewed is nearly always a full-time professional trader. Therefore by listening to the whole interviews, you will often feel hugely inspired to go back to your computer and try to achieve the same level of success yourself.

Develop the right mindset

It is not easy to become a consistently profitable forex trader, but when you listen to several of these podcasts, you will start to appreciate the importance of developing the right mindset. You will also pick up lots of useful tips that will help you develop strategies and stay focused.

Become more disciplined

Following on from the last point, you will also learn about the importance of discipline because many of the traders being interviewed will emphasise this fact, and offer some tips that they use to stay disciplined when trading the markets.

Learn new strategies

One of the main reasons why people listen to forex and stock trading podcasts is because they want to learn one or two profitable strategies that they can use themselves. Although many professionals are reluctant to give away their secrets, some traders will provide details of their strategies, or at least give you enough details to form the basis of a potentially profitable strategy, so this alone makes them worth listening to.

Discover new websites, books and resources

Another key benefit of these podcasts is that you will often discover lots of new resources that you can use to help you in your trading, whether its a trading book that you haven’t yet discovered, or a really useful website that will teach you how to trade, for example. Nearly every trader will have a few useful resources that he/she recommends in each podcast.

Expand your understanding of economics

One final benefit of listening to trading podcasts is that you can often learn more about what actually drives the markets. While many trading podcasts will tend to focus more on technical analysis, some professional traders will often discuss fundamental analysis in some depth and talk more about economics, which can be very educational and useful.

Drawbacks

There are no major reasons why you shouldn’t start listening to podcasts about trading, but here are a few minor drawbacks that you should be aware of:

No strategies offered

I mentioned above that there are a few rare occasions when a trader will reveal the strategy that you use to trade the markets, or at least the core fundamentals, but in the vast majority of cases the trader being interviewed will not reveal their exact strategy, which is frustrating but entirely understandable.

General information

As with any podcast, some episodes will be more useful than others. For example, some traders when being interviewed will only give out a lot of very general information about forex trading and not really offer anything useful, which can sometimes feel like a waste of time.

Only the basics are covered

Similar to the last point, a lot of podcasts will be targeted towards people who are completely new to trading, which can be a little frustrating if you already have some experience of trading and know all the basics already.

Repetitive advice

If you subscribe to many different podcasts, you will inevitably start to hear the same kind of tips and advice being offered over and over again by different people. This is good in a way because it teaches you good habits and helps you avoid destroying your capital, but it can be quite repetitive after a while.

Hidden sales pitches

One final drawback of trading podcasts is that although they will often feature interviews with talented traders, it is sometimes so-called educators who are being interviewed. These people teach other people how to trade, and may not actually trade themselves, which means that they may try to discretely promote their products or service in the interview, and won’t generally provide a lot of actionable advice.

Useful Tip

Don’t be discouraged if you subscribe to a trading podcast, only to find that there are hundreds of 60-90 minute episodes to get through. If the speakers have a clear and understandable voice, you can adjust the playback speed to 1.5x or even 2x the normal speed and get through them a lot quicker.

List of the Best Trading Podcasts in 2019

I am currently subscribed to quite a few trading podcasts, but due to time restrictions, I haven’t yet had time to listen to them all. So here are some that I have actually listened to and can strongly recommend:

• Trading Nut (my personal favourite)
• Desire to Trade
• Trading with Venus
• Two Blokes Trading
• Real Traders Webinar
• Trading Lifestyle

… and here are several others that you might want to check out:

• Chat with Traders
• System Trader Show
• Talking Trading
• Engineered Trading Mindset
• The Trading Coach
• Traders Improved
• Trading For A Living with Rob Booker
• Trading Edges
• The Forex Warrior
• Forex Training Group
• Better System Trader
• Top Traders Unplugged