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.
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more
Paul Singh recounts his extensive trading career, from the highs and lows of the dot-com era to developing sustainable strategies. He highlights the crucial shift from focusing solely on stock picking to mastering risk and trade management, along with the mental fortitude required for long-term success. Paul also discusses the practicalities of going full-time, including financial preparation, dealing with boredom through day trading, and implementing disciplined pre-trade plans and stop-loss techniques.
This episode features Jesse, @PsychoOnWallSt, who candidly discusses his wild ride through the markets, including making $500,000 in 90 days trading marijuana penny stocks only to lose it all. He details his transition from full-time back to profitable part-time trading, highlighting the importance of mentorship, emotional control, and strict risk management. Jesse also shares his deeply personal motivation: funding a no-kill animal shelter and advocating for animal welfare.
Matt Zimberg, founder of Optimus Futures, offers a unique perspective on trading from his long career as a broker. He discusses the core makeup of successful traders, emphasizing discipline, simplicity in methods, and robust risk management. Matt also delves into common pitfalls for beginners, the psychological differences between demo and live trading, and the increasing demand for fast, reliable technology in the future of the industry.
Veteran day trader Nathan Michaud recounts his tumultuous start in 2003, navigating significant financial and emotional challenges while trading small-cap momentum stocks, including a devastating $90,000 loss and an SEC run-in. He explains his current approach to short-selling overextended stocks, emphasizing the critical role of careful scaling, risk management, and learning from mistakes. Michaud also highlights the value of community and his charity, Traders for a Cause.
Rishi Narang, a seasoned financial expert, discusses the nuances of quantitative trading and high-frequency trading (HFT). He explains the components of a 'black box' trading system, differentiates between human and computer advantages, and defines 'pure alpha' as skill-based timing in trading. Narang also addresses common criticisms of HFT, including its profitability and the controversial claims made in "Flash Boys," advocating for market structure improvements.
In this episode, active Bitcoin trader BTCVIX, also known as Victor, discusses his transition from conventional stock and options trading to the burgeoning Bitcoin market. He explains his unique 'order block theory' strategy, highlights the pure technical analysis environment of Bitcoin, and shares crucial lessons on risk management and managing trading emotions. The conversation also explores the fundamental aspects of Bitcoin, including its mining, inherent risks, and the future of blockchain technology.
In this episode, Dr. Ernest Chan shares his unique path from a PhD in physics and AI research at IBM to becoming a successful quantitative trader. He delves into the critical differences between backtested models and live trading performance, emphasizing the need for human intuition and proper risk management. Chan also explains the benefits of diversifying with multiple strategies and offers practical guidance on generating ideas, avoiding backtesting pitfalls, and selecting appropriate programming languages for quantitative trading.
This episode features Bryce Edwards, an Australian equities trader who prioritizes intraday price movements and going home flat daily. He recounts his 10-year journey, detailing early trading losses, success in property, and how his stockbroking experience led to discovering an edge in the order book. Bryce explains his "stocks in play" strategy, leveraging company news, commodity prices, and broker actions, and discusses the unique microstructure of the Australian market and how he manages commissions.
In this 50th episode, Aaron Fifield and Zach Hurwitz reflect on Aaron's journey towards automated trading, including the challenges of learning to code and identifying programmable strategies. They delve into essential topics like backtesting, managing expectations, and the importance of self-awareness and consistent effort in a competitive trading environment. The discussion also covers valuable takeaways from previous interviews, practical advice on journaling and scanning for setups, and Zach's expertise on the Volume Weighted Average Price (VWAP) strategy across different markets, concluding with an outlook on the podcast's future.
Haim Bodek, known as 'The Algo Arms Dealer,' discusses his journey from Hull Trading to founding Trading Machines, a high-frequency options firm. He shares how his firm's unexpected losses led him to uncover secretive order types giving an unfair advantage and subsequently blow the whistle to the SEC, initiating a complex investigation. Additionally, Haim explains the intricacies of payment for order flow and its implications for retail traders. This episode highlights the opaque practices within market microstructure and their impact on market fairness.
Veteran trader Linda Raschke, a 'Market Wizard,' discusses her journey from the trading floor in 1981, highlighting the constant need to adapt to changing market environments and products. She explains her unique approach of using robust market models over intuition to achieve consistent results and offers invaluable advice for aspiring traders, stressing self-reliance, rigorous concentration, and finding a personalized trading framework.
Timothy Sykes shares his unconventional strategies for success as a penny stock trader and teacher, emphasizing big monetary goals as a strong motivator for aspiring traders. He explains his
Hans Dederle, founder of Honza Financial, shares his unique approach to options trading, focusing on 1-3 high-quality trades per day in the market's first hours. He delves into using price action and volume to anticipate reversals driven by market maker activity, highlighting the importance of simplicity, discipline, and emotional detachment to achieve consistent profitability.
This episode features global macro trader Jack Litle, who shares his unique perspective on markets, eschewing prediction for an approach focused on assessing odds and probabilities, akin to poker. He explains his hybrid trading methodology, which combines systematic rules with discretionary decision-making, and stresses the importance of mastering the "big bet" during optimal market opportunities. Litle also delves into his early career, lessons learned, and general advice for developing traders, all while drawing insightful connections to his passion for poker.
In this episode, Michele Koenig, a technical chart pattern swing trader, details her trading journey, including early success followed by significant account setbacks and how she bounced back by adopting discipline and treating trading as a business. She shares insights into her manual scanning process, favorite chart patterns like flags and triangles, and the critical role of the 60-minute 50-period EMA trend change. Koenig also discusses the advantages and disadvantages of swing trading, the importance of patience, and common pitfalls new traders face, advocating for simplicity and a balanced lifestyle away from the screens.
Trading veteran Jon Boorman shares his extensive career, from institutional desks to independent long-only trend following. He details how he developed his strategy by stripping away indicators, focusing on price action, and rigorously managing risk. Boorman explains why he prefers long-only trades, how he navigates bear markets, and the critical importance of position sizing and psychological discipline for long-term survival in trading.
Bert Mouler, an algorithmic trader, shares his journey from early trading losses to developing profitable strategies using machine learning. He explains how his data-driven approach allows for strategy discovery without traditional biases, emphasizing robustness over precision. Bert also discusses the importance of diversification, risk management, continuous learning, and how a supportive trader community enhances his methods.
Discretionary futures trader Kam Dhadwar discusses his evolution, highlighting his unique "trading framework" built on auction market theory, market profiling, and valuing the underlying "why" in trading decisions. He deeply explores how psychological mastery, including reframing losses as business costs, overcoming ego, and consistent meditation, forms the bedrock of his success. Kam stresses that discipline is a lifestyle, essential for navigating trading's non-linear path.
Veteran trader Bryan Wiener details his diverse 15-year career, starting as a market maker on the CME floor, transitioning through the HFT-impacted Trade Machines, and now excelling as a quantitative options specialist. He demystifies options markets, explains their evolution and purpose, and provides invaluable insights into various trading approaches and crucial risk management strategies for aspiring options traders.
Tom Dante, known as @Trader_Dante, recounts his unconventional path in trading, from struggling for seven years to gaining consistency after exploiting broker errors and eventually joining a prop firm. He reveals crucial lessons on discipline, risk management, and the psychological demands of the market, including the importance of a strong competitive drive and learning from mistakes. Dante also highlights the immense effort required to succeed and the often-overlooked emotional cost of becoming a consistently profitable trader.
Kevin Davey, an acclaimed algorithmic trader and author, recounts his evolution from initial trading setbacks to winning multiple World Cup Futures Trading Championships. He outlines his methodical approach to building, rigorously testing, and diversifying automated trading systems across various markets and timeframes. Davey also highlights the critical balance between sound trading psychology and a statistical edge, advising against over-optimization and advocating for simpler, robust strategies.
Morad, also known as Futures Trader 71, shares his journey from construction to becoming a prop firm owner and futures trader. He discusses his unique approach using volume profile to identify market acceptance areas and statistically define trading edges. The episode emphasizes the importance of understanding market psychology, disciplined risk management, and the value of giving back to the trading community.
This episode features legendary trader Peter Brandt, who shares insights from his five decades in markets, including a 42% compounding annual growth rate. He details his journey from the Chicago Board of Trade, his classical charting methodology, and his strong views on high-frequency trading. Peter also offers critical lessons on risk management, the importance of a stable income for new traders, and common misconceptions about success.
This episode features Howard Lindzon, known for co-founding StockTwits and his extensive angel investing. He recounts his career evolution from a brokerage back office during the 1987 crash to managing a hedge fund, detailing his unique "buy high, sell higher" momentum trading strategy focused on consumer trends and all-time highs. Lindzon also offers profound insights into the future of mobile-first trading, the power of community platforms like StockTwits, and lessons learned from his prolific angel investments in tech startups.
Michael Melissinos shares his unique path from being an analyst at Bear Stearns during the 2008 crash to successfully managing his own systematic trend-following fund. He highlights the profound impact of Ed Seykota's psychological teachings on his trading and personal life, advocating for a holistic approach that prioritizes a fulfilling life over solely pursuing wealth. Michael also details the lean operational structure of his fund and the importance of thorough preparation and unwavering commitment to one's trading style.
Equities trader Chris Sayce recounts his path to success, highlighting early struggles with losing money and the pivotal moment he found a mentor who helped him refine his own trend-following system. He discusses the importance of daily market review, a unique "discipline portfolio" for self-assessment, and how adapting his strategy to his own impulsive nature, by focusing on end-of-day analysis, was critical for long-term consistency. The episode also delves into key psychological shifts required to move beyond the beginner trading cycle.
Trader Dan Shapiro recounts his challenging career, from the dot-com boom and subsequent collapse, through two years of profound losses and depression. He shares candid insights into developing a disciplined trading process, managing emotional attachment to P&L, recognizing market structure, and the critical importance of patience and self-awareness to grind through slumps and ultimately achieve success.
Luke Cummings, an Australian equities trader with over 14 years of experience, discusses his journey from a finance degree to operating a hedge fund and trading blog. He shares how he stumbled into trading by exploiting market inefficiencies, highlighting a unique low-correlation takeover strategy that allows traders to avoid being tied to the broader market. Luke also offers crucial advice for entry-level traders, focusing on common pitfalls and the importance of understanding risk management.
In this insightful interview, Market Wizard Tom Basso recounts his unconventional path from chemical engineer to successful money manager, building TrendStat to manage $600 million. He delves into the logic behind systematic trend following, explaining his strategies for volatility and risk control developed from early trading mistakes. Basso emphasizes the critical role of psychology, self-responsibility, and designing a trading approach that truly fits one's lifestyle, all while remembering to "enjoy the ride."
Veteran trader Brian Shannon discusses his two-decade-plus market journey, from beginner's luck to professional trading. He explains his swing trading methodology, focusing on technical analysis, the psychology behind patterns, and using indicators like VWAP and moving averages across multiple timeframes. Shannon also delves into the four market cycle phases and common pitfalls that lead to trader failure, emphasizing discipline and self-awareness.
