Trader Mindset Michael Martin - Traders Ask Me Anything #1
Oct 2, 2015
Listeners dive into the challenges of securing a trading position, learning about preparation and networking. Strategies for managing losses are explored, emphasizing mental clarity and quick decision-making. The importance of a supportive network for traders is highlighted, with tips on emotional regulation. The balance between systematic and discretionary trading approaches is discussed, alongside the impact of consumer behavior on long-dated options. Insights into market shifts, like the move from cable to streaming, provide a fresh perspective on investment strategies.
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Prepare Regulatory And Performance Docs
- Do register (or prepare to register) with the NFA and create disclosure documents before seeking allocation from a prop firm.
- Build monthly performance records and daily equity runs to demonstrate volatility and position sizing.
Be Clear About Your Strengths And Limits
- Explain clearly what you do well and what you don't in your disclosure document to show self-awareness.
- Use that clarity to demonstrate how you add unique skill to a firm's existing roster of managers.
Explain Volatility From Small Accounts
- If your account is small, explain how limited capital creates higher equity volatility and how you'd scale positions.
- Use ETFs or smaller instruments as alternatives to large futures to control percentage moves.
