Chat With Traders 295 · Steve Ruffley - Animal Speed, Size, and Being Right at the Right Time
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Feb 18, 2025 Steve Ruffley, a professional retail trader and author of "The Pro Retail Trader", shares his exhilarating journey from a high-octane trading floor to retail success. He discusses the importance of mastering market dynamics, including trading spikes and pullbacks. Steve emphasizes that risk isn't a dirty word and talks about the psychological challenges in trading, including confidence and decision-making. He also highlights the significance of timing and emotional management while navigating the unpredictable landscape of financial markets.
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Trading Floor Atmosphere
- Steve Ruffley's first trading floor experience was intense, with rows of screens and high-stakes trades.
- The atmosphere was competitive but also had camaraderie, like a "boys' club."
Protecting Your Edge
- Traders rarely reveal their true edge, as it's their competitive advantage.
- Revco's graduate program tested traders under pressure but didn't teach how to make money, emphasizing innate ability.
Innate Trading Ability
- Revco's training focused on market mechanics, not making money, believing trading skill is innate.
- Successful traders possess a confident but not arrogant presence, trusting their gut.