Complex Systems with Patrick McKenzie (patio11) Think like a trader, with Ricki Heicklen
30 snips
Jul 10, 2025 Ricki Heicklen, the founder of Arbor and former trader at Jane Street Capital, dives into the evolution of trading education. She shares insights on how simulated markets can teach complex concepts like risk management and team dynamics. Ricki recounts real-life bootcamp stories, highlighting mistakes that led to valuable lessons. She emphasizes the importance of communication in trading teams and how minds can be trained to think like traders, both in finance and everyday decision-making.
AI Snips
Chapters
Transcript
Episode notes
Learn Trading by Doing
- The best way to learn trading is by actively trading and making mistakes.
- Experiencing real-time market responses ingrains lessons far better than lectures or reading.
Trader Mindset vs. Math Skill
- Strong mathematical skills and a 'trader mindset' are sometimes negatively correlated among students.
- Successful trading also requires scrappy heuristics beyond pure technical ability.
Be Open About Mistakes
- Make mistakes loud and transparent to learn and protect yourself during trading.
- Recognize that others also make errors and model such human imperfection realistically.