Chat With Traders is your key to the minds of trading's elite performers. Start listening to learn how a diverse mix of traders went from zero to hero, how they successfully trade markets today, and get their best tips 'n pointers for profitable performance, plus much more. Note: You are responsible for your own trading decisions—this is not financial advice.
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Andrew Falde discusses his transition from commercial real estate to trading, fueled by the 2008 financial crisis. He delves into the importance of a systematic, "if-then" approach over market prediction and highlights the purpose of options markets as an insurance mechanism. Andrew also outlines seven critical components for designing profitable trading systems, emphasizing risk management over perceived accuracy, and explores the psychological pitfalls that hinder most traders.
In this episode, acclaimed author Jack Schwager shares insights from his lifetime in financial markets and interviews with the world's greatest traders. He challenges the efficient market hypothesis with compelling examples, explains the critical role of flexibility and a unique trading edge, and details the unconventional success of traders like Jimmy Balademus. Additionally, Schwager introduces FundSeeder, a platform designed to identify and connect undiscovered trading talent with capital, emphasizing the importance of finding a personalized trading approach.
This episode features seasoned futures trader Brad Jelinek, who shares his journey from early stock dabbling to professional prop trading. He details his day trading strategies, including the use of futures, event trading, and combining technicals with fundamental market themes. Brad also emphasizes adapting to algorithmic markets, the evolution of risk perception, and the critical importance of maintaining physical and mental well-being, highlighting how balance and self-care are essential for achieving longevity and consistent profitability in the demanding world of trading.
In this unique episode, Zach Hurwitz interviews Chat with Traders host Aaron Fifield about his personal trading journey. Aaron shares his progression from self-taught Gann methods to embracing quantitative and automated trading, highlighting the critical need for a verifiable edge. The discussion also covers the motivations behind starting the podcast and its impact on the trading community, emphasizing the continuous nature of trader development.
This episode features seasoned equities trader Ivan Hoff, who shares his swing trading approach to capture powerful short-term gainers over 3-10 days. He details his high-probability setups, emphasizes the critical role of industry momentum and recent IPOs, and discusses meticulous position sizing. Ivan also delves into position trading for longer trends, identifying big winners through earnings growth and market corrections, and highlights the crucial habit of studying past successful trades. He concludes by explaining common pitfalls that prevent traders from achieving long-term success.
David Bush, a former professional musician, recounts his 20-year evolution in financial markets, beginning with self-taught discretionary trading and overcoming significant early losses. He explains his transition to quantitative trading, driven by the desire for optimal exits and efficient risk management, highlighting the power of multiple systems and Monte Carlo analysis. Bush also delves into crucial aspects of robust strategy development, including statistical significance and addressing survivorship bias, while offering advice for aspiring quant traders and sharing insights on common reasons for trader failure.
Mike Bellafiore, co-founder of SMB Capital, discusses his journey from law school to successful prop trading and the intricacies of running a trading firm. He shares SMB's comprehensive training program, emphasizing the critical role of coaching and the distinction between psychology and a true trading edge. Mike also delves into his personal trading strategies, including 'changing fundamentals plays' and 'The Money Trade,' along with practical risk management rules and insights from collaborating with Dr. Brett Steenbarger.
Adam Grimes, author and CIO of Waverly Advisors, shares his unique 20-year journey from classical musician to seasoned trader, detailing early struggles with undercapitalization and ineffective methods. He highlights the critical process of identifying a true statistical edge through rigorous quantitative analysis, advocating for humility over confidence. Grimes outlines the realistic, non-linear path to becoming a successful trader, covering stages of profitability, the significance of consistent behavior, and the role of psychological tools like meditation.
Intraday momentum trader Kunal Desai recounts his evolution from early dot-com boom losses to becoming a disciplined and profitable trader, thanks to mentorship. He dives into his go-to setups, strategies for trading catalyst-driven stocks like earnings breakouts, and critical risk management techniques including max daily losses and profit give-back rules. Desai also emphasizes the importance of emotional control, combating FOMO, and cultivating an undeniable passion and resilience to navigate the challenging path of professional trading.
In this episode, seasoned trader Stuart McPhee delves into the importance of creating and rigorously following a trading plan. He discusses his journey from initial struggles with losing money and false expectations to achieving consistent profitability through structured learning and a selective approach. Stuart also offers a simple yet effective 'small steps' method for cultivating discipline, highlighting how changing habitual behavior is key to long-term success in trading.
Veteran trader John Welsh discusses his unconventional trading strategy, which prioritizes news and fundamental analysis of biotech stocks while largely disregarding technical charts. He shares insights into his disciplined daily routine, how he overcomes personal trading flaws, and the critical role of self-awareness and strict rules in managing risk and emotions. Welsh also highlights the importance of independence from corporate life and offers advice on mental resilience and meticulous trade journaling for long-term success.
Jason Leavitt, a self-taught swing trader, shares his evolution from a bartender to a full-time trader, detailing his dual approach of short-term and long-term trend trading. He explains his methods for scanning stocks, adapting to market environments, and the importance of group strength. The episode also features valuable insights on the common traits of both successful and unsuccessful traders, highlighting specialization and disciplined planning.
It’s almost unfathomable to think that there was a time when it would take a couple minutes to execute an order. And now days we have traders taking extreme measures, just to get filled a nanosecond quicker than the next participant. But for this weeks guest Tim Biggam, that was the reality when he first entered the world of trading during 1985. And that entrance was straight onto the floor of the CBOE. Just a couple years into his journey, Tim experienced the full force of the infamous 1987 cra...
This episode features Joel Kruger, a seasoned Forex trader, who discusses his unconventional path from law school to investment banking and ultimately to becoming a successful self-funded trader. He delves into the unique dynamics of the Forex market, highlighting the dangers of excessive leverage and advocating for a disciplined, unleveraged approach for new traders. Kruger also shares invaluable psychological insights, stressing the importance of self-awareness and embracing failure as crucial elements for consistent profitability and managing trading stress.
Ilan Azbel, a highly analytical algorithmic trader, shares insights into his trading journey, his pivot to foreign currencies, and his fully automated approach. He delves into the realities of algorithmic trading, including the continuous need to adapt strategies and the rigorous backtesting involved. Azbel also critiques common pitfalls for retail traders, emphasizing the need for deep market understanding and the benefits of automating trading ideas for rigorous testing and risk management.
Price action trader Lance Beggs shares his journey from military pilot to full-time trader, detailing his evolution from gambling to a nuanced "metagame" approach focused on identifying and profiting from the fear of trapped market participants. He discusses his aggressive risk management with tight stops and re-entries, stressing the importance of protecting one's mindset over financial capital. Lance also offers insights on effective trade review, group performance analysis, and common pitfalls preventing traders from achieving sustained success.
Adam Ryan, a Canadian trader, candidly discusses his path to success, highlighting early setbacks like losing half his account and investing in ineffective education. His breakthrough came from a dedicated mentor who steered him towards simplified price action and market structure. He details his day trading approach for crude oil, gold, and S&P 500 futures, utilizing market and volume profile charts, and shares insights on managing emotions and setting achievable goals.
This comprehensive episode features independent equities trader Zach Hurwitz, who demystifies Volume Weighted Average Price (VWAP) and its vital role for institutional and algorithmic traders. Zach delves into the evolution of market technology, the benefits of systematic trading, and the often-overlooked psychological aspects that truly differentiate successful traders. He also offers a generous coaching session to listeners.
This episode features Tim Grittani, also known as @KroyRunner89, an intraday trader who transformed a $3,000 account into over $2 million. He discusses his progression from mastering penny stocks and understanding market manipulation to becoming a short-seller of NASDAQ equities. Tim candidly shares his five key factors for success and the painful lessons from a $290,000 single-trade loss, offering valuable insights into overcoming emotional trading and defining one's edge.
Peter Zhang, a quantitative finance major who overcame homelessness to co-found Sang Lucci Capital Partners, shares his transformative journey in the financial markets. He discusses the critical role of mentorship, the limitations of traditional education versus practical experience, and the significant shift towards automated trading and understanding market microstructure. Zhang offers insights into the psychological challenges traders face and the importance of adapting strategies in an evolving market.
This episode features Anand 'Lucci' Sanghvi, who recounts his remarkable transformation from a clueless prop firm starter to a highly successful independent trader, turning $50,000 into $2.4 million. He delves into his unique "tape reading" approach, explains why traditional technical analysis is obsolete in today's algorithmic markets, and offers invaluable lessons on managing trading psychology, ego, and the distractions of sudden wealth. Lucci also discusses adapting to market changes like weekly options and his partnership to explore high-frequency trading.
In this episode, veteran trader Tim Walker delves into his technically-driven approach, heavily influenced by W.D. Gann's methods, including the 50% rule for identifying key market turning points. He discusses overcoming early trading setbacks, the importance of a positive mindset, and his disciplined study techniques. Tim also strongly advocates for relying on price charts over news and fundamentals, stressing that consistent self-review and market specialization are crucial for long-term trading profitability.
In this episode, Steve Burns shares his journey from early market fascination to overcoming a severe 50% drawdown, highlighting the lessons learned about position sizing and market direction. He details his reactive technical analysis approach, influenced by Nicholas Darvas, and underscores the critical importance of a 1% risk management rule. Steve also stresses that aspiring traders must prioritize thorough education and develop a personalized trading methodology to achieve sustained success and avoid emotional pitfalls.
Nick Radge, a seasoned trader since 1985, shares key insights into navigating financial markets. He details his trend-following methodology, highlighting the importance of cutting losses short and letting profits run, and the non-linear path to wealth. Radge also distinguishes between quantitative and qualitative trading, stressing that understanding psychological hurdles and diversifying strategies are essential for long-term success, especially for novice traders.
Timothy Sykes shares his unique journey from turning $12,000 into millions trading penny stocks, detailing the benefits and pitfalls of this high-volatility market. He explains his method for identifying and profiting from "pump and dump" scams, emphasizing meticulous research through SEC filings and the crucial role of quick loss cutting and discipline. Sykes also discusses exposing celebrity-backed promotions and the necessity of investor education to avoid common traps.
Kirk Du Plessis, a former Wall Street professional and founder of Option Alpha, reveals his unique approach to options trading. He advocates for treating trading as a numbers game, making numerous small, high-probability bets rather than large, emotional ones. Kirk details the importance of selling options premium, diversifying strategies, and maintaining strict risk management through consistent, mechanical execution to navigate market volatility and achieve sustained profitability.
In this inaugural episode, host Aaron Firefield introduces himself and his vision for "Chat with Traders," then delves into an insightful interview with veteran trader Jerry Robinson. Jerry recounts his progression from a $700 account in the dot-com era to a consistently profitable trader, highlighting crucial lessons like accepting losses as tuition, the necessity of a defined trading system, and the discipline to manage emotions. He offers practical advice on fundamental and technical analysis, identifying trading opportunities, and common pitfalls for entry-level traders, emphasizing the need for perseverance and mentorship.
