Chat With Traders

This week on the show I interviewed Linda Raschke – an active trader since 1981, when she started out on the floor of the Pacific Coast Stock Exchange as an options market maker.In 1992, Jack Schwager interviewed Linda for his second installment of the Market Wizard series; The New Market Wizards.Since then, Linda has traded for several hedge funds, and in 2002 she began one of her own – which has been ranked 17th out of 4,500 hedge funds for ‘Best 5 Year Performance’ by BarclaysHedge.During this interview we covered some great topics, for example; adapting to environment changes, using models to study price behavior, and the part I really enjoyed was Linda’s advice to young traders towards the end. So please, make sure you pay close attention to this part. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week I interviewed Timothy Sykes (of Profit.ly).If you’re not already familiar with Tim (for some strange reason), he’s made quite a name for himself as the penny stock guru, who trades, teaches and flaunts big piles of cash on Instagram. And before you can get a word in sideways, he’ll also gladly remind you that he does have ‘millionaire students’!I really enjoyed this conversation with Tim, because we covered many substantial topics that do play an important role in a traders’ success. To rattle off just some of those topics, we discussed: What’s all fuss the about making a million dollars? How to stay motivated and get the most out of your dedicated study time? How to combat the urge of over-trading? How to avoid liquidity issues in OTC markets? And so much more… Hope you enjoy this episode, with the man who has become wealthy from penny stocks (the most hated niche in all of finance) –Timothy Sykes. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week I interviewed Hans Dederle, the founder and president of Honza Financial – an options trading asset management firm (located in Florida).Hans originally started out as an accountant, before becoming a stock broker, following that he began to trade independently and now, trades other peoples money as well.He’s been doing this for just over 8 years now, and one of the things I really liked that come about during our discussion, was how Hans has a laser focus on quality over quantity. As a day trader he averages between 1-3 trades per day, which he’s usually in and out of within the first couple hours of each session.Which then lead into the topic of making money as a secondary objective, and having a primary objective to consistently make good trades, inline with your strategy. There’s a bunch of great takeaways over the next 45 minutes… enjoy! Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest on the podcast this week is Jack Litle of MercenaryTrader.com.Jack is a global macro trader who originally started out as an international commodity broker – today, he now has more than 17 years of market experience and is a very competitive trader. He’s also a keen poker player, and believes there are many crossovers between poker and trading (which of course, makes for some interesting conversation during this episode).Also during this episode, we speak about how Jack thinks of trading in terms of probabilistic outcomes, instead of attempting to ‘predict’ the future – we spend quite some time on this subject, and I myself found his views on this particularly interesting.Another highlight, would be mastering the art of the big bet – where Jack shares insight to the times when you should press hard on a trade to make profits that have real impact.–For your chance to WIN a free 90 minute, one-on-one mentoring session with a genuine, pro trader – enter here: http://chatwithtraders.com/win Learn more about your ad choices. Visit megaphone.fm/adchoices

Let me introduce you to my guest for episode 44 – Michele Koenig of Trade on the Fly, from Montana (at the very top of the United States).Michele is primarily a swing trader of technical chart patterns, but also takes an occasional intraday position when she spots an opportunity.During our discussion we spoke about a whole range of really interesting topics. To start with we covered Michele’s first few years when starting out, where she had some early success, then shortly after, lost almost everything – we spoke about how this happened, how she was affected, and how she bounced back.Plus some of the other highlights would include; insight to Michele’s scanning process and how she tracks a watchlist, a reminder not to ‘trip over dollars while trying to save dimes’, and some words of wisdom to traders who are yet to breakthrough.–For your chance to WIN a free 90 minute, one-on-one mentoring session with a genuine, pro trader – click here to enter. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week we’re at episode 43 and my guest is Jon Boorman (of Alpha Capture).Jon has been immersed in the world of trading for over 30 years now, and has spent the majority of this time in the institutional space – he’s been on the buy-side, sell-side, run a trading desk, assistant to a portfolio manager, and has also been a prop trader. But now days Jon trades independently and does also manages assets for others.His approach to trading is best described as a long-only trend following strategy, which we discuss extensively during this episode. Some of the topics we hit on include; why the simplicity of trend following can be both, a gift and a curse, why Jon trades the long-side only and how this affects him in a full fledged bear market.Plus, Jon shares a few pointers on position sizing, and his best tips for long term survival. Jon was an interesting guest, and shared a lot of wisdom – I feel like you’re really going to enjoy our discussion.For your chance to WIN a free 90 minute, one-on-one mentoring session with a genuine, pro trader, visit – http://chatwithtraders.com/win. Learn more about your ad choices. Visit megaphone.fm/adchoices

What you’re about to hear is an interview with Bert Mouler – he’s a trader of futures and equities, and has been involved with markets since ’07. But he does things a little different to most…He’s an algorithmic trader who harnesses the power of machine learning to discover and develop profitable trading strategies. This is an area that hasn’t been covered in previous episodes, (except for the odd mention here and there) so it was really great to have Bert on the show to share some insight on machine learning and how it works in the field of trading.Beyond this, you’ll also hear Bert’s views on diversification and how he thinks about risk management. Plus, one of the things I really respect about Bert – his drive for continual progression, attitude towards further education, and the way he approaches goal setting. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week my guest is a discretionary futures trader from London (UK), his name is Kam Dhadwar.Kam originally started out in 2001, from 2005 onward he spent a few years trading within a prop firm, and now days has reverted to trading independently.During this interview we discuss the great emphasis Kam places on auction market theory, market profiling and volume profiling techniques, to capitalize on intraday moves.Additionally, we also discuss the importance of believing in your trading plan, the two types of risk; financial and psychological. And how Kam uses NLP, mindfulness and meditation practices to continually improve trading performance.Plus plenty more – but, developing the right mindset seems to be the underlying theme throughout this episode. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week I’m joined by Bryan Wiener, to put it simply, he’s a man crazy about options. So options guys, this should be right up your alley. I have to admit there were a few moments where my lack of knowledge of options is probably quite obvious – but Bryan delivered well and truly.So a little background on Bryan…He’s been actively trading for just over 15 years – and what’s particularly interesting about Bryan is how he’s been involved with markets from a number of various angles. And what I mean by that is…He originally started out as a market maker on the floor of the CME (and by the way, has some great stories which he shares during the interview). From there he later joined Haim Bodek for the rise and fall of Trade Machines, which was essentially a black-box startup which was ruined due to HFT manipulative orders.And now days he’s the quantitative options specialist on the Sang Lucci team, as well as an independent trader.During the interview we of course go right into Bryan’s journey of how he got to where he is now. As well as plenty of discussion about options markets, including; how options have evolved, the various types of options traders and where their edge exists, and a few things aspiring options traders need to be aware of. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week, for episode 39 I had the great pleasure of speaking with Tom Dante (who you may already know from Twitter as @Trader_Dante).But if you don’t, that’s cool – I’ll give you a real quick snapshot now…Tom’s a day trader from London, who tells it exactly how it is, he makes no attempt to soften the blow from the harsh realities of trading.He’s got a really interesting and unique story about how he got started trading, which was around 1999. And from that point on there was a period of about 7 years, where Tom struggled to gain consistency with his trading results (we speak at lengths about this during the first part of the interview).After developing a track record of profitability, Tom joined a prop trading firm, where he learnt many of the solid trading principals that have shaped him into the trader he is today – many of which are discussed during this episode.Now days, Tom is an independent trader who focuses mostly on the Bund market intraday, as well as other futures.Besides the few points I’ve already mentioned, we of course discuss much more, including; the competitiveness of professional trading, the importance of learning from your mistakes quickly, and the real cost of becoming a great trader.To learn more about the dedicated one-on-one coaching service, visit: chatwithtraders.com/coaching Learn more about your ad choices. Visit megaphone.fm/adchoices