The Lazy Trader Interview: Rob Colville

The Lazy Trader interview usually consists of Rob Colville, managing director of The Lazy Trader, speaking to other traders about their ideas. In this case, it is Rob himself who is being interviewed by Chris Smith, and it is hugely insightful. Rob explains why he created The Lazy Trader, what it all really means, and why being lazy isn't a bad thing when it comes to trading. 

Takeaways

• It is possible to trade successfully from as little as 10 minutes a day

• Even those who are particularly busy can become successful traders

• You need to have the right attitude

How did The Lazy Trader come about?

The Lazy Trader was born out of Rob Colville's frustration with intraday trading. When he started in 2007, Rob is not ashamed to admit that he made every mistake possible - often more than once. However, he eventually found his own style of trading. This meant that he could be a successful fund trader successful in Forex, commodities, and stocks from as little as 10 minutes a day.

He realised that you did not have to trade the smaller time frames to be profitable, which is a common misconception. In 2012 Rob decided that other people needed to know about his concept, which is why The Lazy Trader came about.

How was it helpful?

The Lazy Trader interview dug deeper, to discover the idea behind The Lazy Trader was to enable time-poor people the chance to get into trading. This has meant that many people who work Monday to Friday, 9 to 5, have been able to enjoy trading without having to sit in front of a screen all day. There are about 300 members right now at the time of this Lazy Trader interview, but that number is growing rapidly.

The name The Lazy Trader is a fun one. Whenever Rob thinks of it, he is reminded that a fairly successful trader once told him that 'lazy people never make money in the market'. And it's true that laziness doesn't beget profit, but in this case it is slightly different. The difference when it comes to successful traders is in attitude. There is a big difference in the attitude of the trader and the style of their trading - so although the style might be considered 'lazy', the attitude behind it never is.

The Lazy Trader is so named because there is a proven strategy. There are very particular rules for entry, management, and exit. This provides the possibility of making money without making it your entire life. In essence your trading fits in with your lifestyle.

What does The Lazy Trader offer?

With The Lazy Trader there are online quizzes, resources, even professionally recognised exams that can be taken. Rob assures the Lazy Trader interview that there is everything a trader could need on his site, and the rest is down to them.

How do people know they can trust the Lazy Trader when there are so many false promises and scams out there? It's a good question. To start with, everything that The Lazy Trader does, from its courses to its mentors and its website is CPD accredited. This gives those who want to join complete peace of mind.

Not only that, but the mentors (including Rob) are STA (Society of Technical Analysts) accredited too. Plus all the mentors have a huge amount of experience, which certainly helps.

Be prepared to fail and learn to succeed

It's true that trading has a high failure rate which you can't really avoid when trading, but so do many other methods of making money such as selling online or setting up a restaurant. Only a handful of small businesses actually survive and become successful.

The main problem with trading is that people start with the wrong expectations. They expect to make money straight away, and lots of it. If you're looking for solid returns over a long term, Lazy Trading can work for you. If you're looking for a get rich quick scheme you should look somewhere else.

What are Rob's motivations?

Rob trades mainly to make money. It's that simple. It's the perfect way to make money that fits into his lifestyle. Interestingly, Rob reveals in this Lazy Trader interview that he doesn't have that much of an interest in the intellectual side of trading. He does enjoy what trading can get you, for only a small amount of time spent doing it.

The Lazy Trader interview tells us that what Rob does is not entirely technical. A lot of it is, that's true, but the theme - Brexit, Trump, and so in - is also important. So although the technicals are applied to the charts, there must also be an underlying understanding of what the theme is.

You should never stop learning

Rob still has a mentor, and is proud of the fact. He does not understand why anyone would want to be cagey about having a mentor when they can do so much good.

So why does Rob teach trading, asks the Lazy Trader interview? Rob says it is because he loves trading, he loves that his style can free him up to do all the other things he loves too, and since he has always been interested in starting an online business,

The Lazy Trader seemed to give him everything he wanted. And now that brand has grown, it offers a fantastic product, and it is recognised across the globe.

Risk management is very important

An important tip from Rob in this Lazy Trader interview is the keep the risk small. Risk a small (maybe one percent) amount of your trading account on high potential profit trades, and you can soon build up your account to something really impressive. And if the trade loses, you won't miss what you put into it.

Rob Colville can be found at the www.thelazytrader.com