Words of Rizdom Wall Street Trader: 60 Year Trading Veteran Exposes The Market Algorithm
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Dec 15, 2024 Richie Naso, a 60-year Wall Street veteran, shares invaluable insights from his extensive trading career. He discusses the intricacies of market algorithms and their impact on volatility, emphasizing the need for traders to understand these mechanisms. Naso highlights the significance of risk management and the use of tools like EMAs and VWAP for successful trading. He draws parallels between trading and gambling, revealing personal anecdotes that shaped his risk-oriented mindset. Key strategies for navigating modern trading landscapes and maintaining emotional control are also explored.
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Early Gambling Instincts
- Richie Naso's childhood involved various forms of gambling, from bingo to flipping cards against a wall.
- This early exposure to risk and reward unknowingly prepared him for the New York Stock Exchange's energy.
Finding His Home
- Richie Naso stumbled into Wall Street through a newspaper ad, having never traded before.
- The energy of the trading floor captivated him, giving him a sense of belonging.
Earning Success
- Success on the trading floor wasn't handed out; it had to be earned through hard work and skill.
- Competing against entitled individuals was easy because they often lacked the drive to succeed.