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Chat With Traders

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Rank #30 in Investing category

Business
Education
Investing
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Chat With Traders is your key to the minds of trading's elite performers. Start listening to learn how a diverse mix of traders went from zero to hero, how they successfully trade markets today, and get their best tips 'n pointers for profitable performance, plus much more. Note: You are responsible for your own trading decisions—this is not financial advice.

Read more

Chat With Traders is your key to the minds of trading's elite performers. Start listening to learn how a diverse mix of traders went from zero to hero, how they successfully trade markets today, and get their best tips 'n pointers for profitable performance, plus much more. Note: You are responsible for your own trading decisions—this is not financial advice.

iTunes Ratings

1485 Ratings
Average Ratings
1403
38
15
7
22

Valuable Resource!!

By SouthLaCajun - Feb 11 2020
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CWT is an amazing resource that will benefit traders of all experience levels. A must listen!

Episode 187 my favorite so far!

By cnaccio - Jan 25 2020
Read more
Love the new episodes in 2020. Amateurs for the win!

iTunes Ratings

1485 Ratings
Average Ratings
1403
38
15
7
22

Valuable Resource!!

By SouthLaCajun - Feb 11 2020
Read more
CWT is an amazing resource that will benefit traders of all experience levels. A must listen!

Episode 187 my favorite so far!

By cnaccio - Jan 25 2020
Read more
Love the new episodes in 2020. Amateurs for the win!
Cover image of Chat With Traders

Chat With Traders

Latest release on May 21, 2020

Read more

Chat With Traders is your key to the minds of trading's elite performers. Start listening to learn how a diverse mix of traders went from zero to hero, how they successfully trade markets today, and get their best tips 'n pointers for profitable performance, plus much more. Note: You are responsible for your own trading decisions—this is not financial advice.

Rank #1: 162: Mike Bellafiore – The formula for how to become a 7-figure day trader

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Returning for this episode, is Mike Bellafiore—the co-founder of New York City prop trading firm, SMB Capital. Mike is also the author of One Good Trade and The Playbook, and he was the featured guest on episode 022.

As the title suggests, the purpose of our conversation is to breakdown how you can formulate a plan for becoming a 7-figure day trader. Mike is well-qualified to speak on this subject, because he’s mentored and lead traders within his own firm to reach this level of trading success.

There are no quick fixes packed into this episode, but there is real value—if you listen carefully, take notes and intentionally act on some of Mike’s suggestions, I know it will make a difference over time.

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Don’t miss the upcoming LIVE podcast event in Sydney, with special guest John “RAMBO” Moulton. And did I mention there’s beers ‘n pizza too?! → Get tickets

May 11 2018

1hr 9mins

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Rank #2: 069: John Carter – How an aggressive trader thinks, uses options, and made $1.4M on a single Tesla trade

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Welcome back for another installment of the Chat With Traders podcast. I’ve got an awesome guest lined up for you, John Carter, from Austin Texas.

In short; John is an options trader (and also futures, to a slightly lesser extent), he’s been trading for around about 25 years now. His typical holding time for any given trade is just a couple days, and he classifies himself as an aggressive trader – which I think you’ll pick up on pretty quickly.

In this interview, you’ll hear I ask John about the multiple boom ‘n bust cycles he endured over the space of about 8 years before gaining real consistency. I also ask, is a high risk tolerance essential for becoming a successful trader?

Then we get into some talk about options, and John has some really great advice for those who are still trying to find their feet. Additionally, we talk about indicators and technical analysis, and we go step-by-step through John’s million dollar TSLA trade.

So there’s a lot packed into this episode, I hope you enjoy it, but more than that, I hope you can take at least just one thing away from this and apply it to your own trading.

Apr 20 2016

1hr 4mins

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Rank #3: 156: Michael Katz – Day trader, green every month, talks consistency, strategy and doing size

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Michael Katz is an active day trader and the managing partner of New York prop trading firm, Seven Points Capital. Mike and his firm, are large volume participants in U.S. equity markets, and to a lesser extent, futures and options too.

In this episode, Mike discusses the things which have attributed most to his consistency over the years, insight to his momentum strategies, and how he’s able to turnover millions of shares each month, and of course, plenty more.

Jan 13 2018

57mins

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Rank #4: 044: Michele Koenig – Lessons from a decade of swing trading, and how to overcome early failure

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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.

Oct 28 2015

1hr 6mins

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Rank #5: 082: Futures Trader 71 – How to become the trader you wish you were

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This week, for the second time on Chat With Traders, my guest is Morad or better known as; Futures Trader 71.

As you could imagine, FT is a futures trader, he’s also very short-term and has been trading for about 16 years now. During this time, he was the founder of a successful prop firm and more recently, has started a brokerage; Stage 5 Trading.

First time around (on episode 37) we spoke extensively about FT’s path of becoming a trader, market profile and volume profile, and creating a legacy. This time we spoke about all new topics…

For example; how to learn a new skill, how to measure your progress besides PnL, how to remove attachment to the outcome, how FT uses a regressive risk management strategy, and plenty more too.

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Sponsored by RealVisionTV.com: Watch the smartest minds in finance share all, and put an end to “there’s nothing to watch.” Get a FREE 7-day trial of Real Vision TV, to start streaming now.

Jul 20 2016

1hr 27mins

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Rank #6: 047: Timothy Sykes – The hustle ‘n grind; beyond the big money, fast cars and exotic trips

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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.

Nov 18 2015

1hr 21mins

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Rank #7: 100: Bao (@Modern_Rock) – Overcome adversity, dominate a niche, become ‘the house’

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My guest for this special milestone (being episode 100!) is someone who I’ve been attempting to bring on since before episode one was even released…

Folks, I’d like to introduce you to Bao—or better known as @Modern_Rock on Twitter.

Bao is an independent day trader, and a former-Silicon Valley software engineer, who made the large majority of his fortune trading stocks on the OTC bulletin board market. His story emphasizes; anyone with the will to succeed, even amongst adversity, can become unstoppable.

During the interview we speak about avoiding complacency, the greatest trade of Bao’s career, discovering a niche, managing confidence, consistency tips, how to progress as a developing trader, and much more.

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Sponsored by TradeStation.com – Trade with TradeStation. Enjoy access to many markets and products, cost-saving commission rates, and more.

Nov 23 2016

1hr 17mins

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Rank #8: 148: John Grady – The order book—what traders must know about supply and demand

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John Grady is an independent futures trader from Florida, who primarily trades Treasury bonds. His trading is purely discretionary, based upon his read of order flow. Essentially, he’s a scalper.

Throughout this episode we talk all things order flow; the basics, the value of an order book, some of John’s trading methods, order types and managing positions, how to build skill at reading order flow, as well as, the impact of HFT and what’s commonly known as spoofing.

Oct 26 2017

1hr 20mins

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Rank #9: 104: Alex (@AT09_Trader) – An appetite for risk, and hitting hard when opportunity arises

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Alex (@AT09_Trader) is a 22-year old, discretionary day trader, who’s seen great results in the few years he’s been grinding away at this. He trades small caps, and he trades aggressively—as you’ll soon hear, Alex is far from conservative.

This conversation was recorded on the 16th of November (2016), right around the time when the madness in the shipping sector was unfolding. So we got talking about the ticker DRYS and how Alex racked up a $40k loss a day or two before our interview (although, he had his first +$100k day shortly after too).

Also we spoke about how Alex got started, the types of trade scenarios that he looks for, areas that he’s working on to improve, and also his venture into real estate—where he flipped a foreclosure property for a tidy profit, plus much more.

Note: Nothing you hear on this podcast is financial advice. You’re entirely responsible for your own trading decisions.

Dec 21 2016

57mins

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Rank #10: 178: Nick Radge – The Blueprint: Create a simple trend following system

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Returning guest Nick Radge is a systematic trader of trend following, momentum and mean reversion strategies—which he runs across Australian and U.S. equity markets.

When I asked Nick if he'd be willing to do another podcast, I said to him, "This time around, I'd like to discuss something very specific with you; how to create a simple trend following system."

So, that's exactly what we did; a complete breakdown of Nick's process. This includes details about strategy objectives and idea generation, portfolio testing and analyzing results, position sizing and risk management, and execution in a live market.

This episode should be helpful for anyone interested in riding big market trends (regardless of asset class). And even if trend following doesn't overly appeal to you, then you'll still pick up useful insight to trading systems.

Aug 05 2019

1hr 28mins

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Rank #11: 003: Timothy Sykes – Inside the world of penny stocks and how to profit from market inefficiencies

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Timothy Sykes joins us here on the third episode of Chat With Traders to share his passion for playing penny stocks, and how traders can benefit from common scams and manipulation.

You might also find it entertaining to know that Tim has called out multiple celebrities about promoting sketchy penny stocks, so of course, I ask him about this too. Enjoy!

Jan 12 2015

33mins

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Rank #12: 182: Nico, @InefficientMrkt – An eight year overnight success story; three years later

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Nico, who goes by @InefficientMrkt on Twitter, is an intraday equities trader. His area of expertise lies in low float, micro cap stocks, near-exclusively playing the short side of overextended moves.

Nico and I spoke almost exactly 3 years ago on episode 96—which was memorably titled, "An 8-year overnight success story." Now picking up where we left off, we discuss what's been happening as of late...

The most notable development being; after many years trading retail, Nico has gone into proprietary trading with Seven Points Capital. Going one step further, he has also established and heads up the firms' San Diego office.

During the second half of this episode (from 40:20), I ask Nico to share how he's evolved as a trader in recent years—or more specifically; what has changed, what remains the same and what's been fine tuned.

Oct 30 2019

1hr 13mins

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Rank #13: 157: Alex, @TAGRtrades – What this day trader learned after returning 1400% in one year

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When Alex (@TAGRtrades) was on CWT for the first time—Episode 119, he was beginning to make head way as a full-time day trader, since abandoning a secure job in recent years. But since then, he’s really stepped it up a notch…

Alex started 2017 with an account balance of $32,000 and finished the year with a compounded return of 1,400%. But what makes things more significant, is how he was able to achieve this with minimal drawdown.

Over the course of this episode, you’re going to hear Alex and I reviewing his performance of the past twelve months—what he did well and areas where he would like to further improve. Alex also talks about his strategy; from scanning to entries to managing positions. Plus psychology, self-discipline and more.

Jan 27 2018

59mins

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Rank #14: 098: Peter To – How successful day trading can fly in the face of conventional wisdom—with a former poker player and ex-prop trader

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Before day trading equities, Peter To played a lot of online poker and did fairly well for himself. He then dabbled in markets as an investor, but was soon attracted to OTC stocks after discovering a strange inefficiency…

In this episode we spend quite a bit of time talking about Peter’s prop trading experience, both the good and the bad. Trading nihilism and doing everything you supposedly shouldn’t do, why Peter accepts he’s not a “cold blooded assassin” and does trade with the influence of emotion. Plus, we briefly touch on Bitcoin and exchange hacks towards the end too.

Peter also writes about many of these subjects on his blog, which you can read here.

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Sponsored by TradeStation.com – A fully-licensed online broker and trading technology provider (who have won a ridiculous amount of awards!)

Nov 09 2016

1hr 17mins

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Rank #15: 119: Alex (@TAGRtrades) – What this day trader learned after four years of abandoning a secure job

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Alex (@TAGRtrades) is a 27-year old day trader, from Texas. He’s been trading full-time for four years, and has really begun to hit his stride. Alex closed Q1 of 2017 with a $49,000 gain, after going into the year with an account balance of $32,000.

He’s a small-cap momentum trader, but unlike most guests who I’ve had on previously that play in this space, Alex takes the majority of his trades on the long side. So naturally, we chat about his reasons for this…

We also chat about; the leap into full-time trading, key lessons Alex learned in the early stages of his development, how he manages trades, and why journaling has been immensely helpful.

Apr 06 2017

59mins

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Rank #16: 065: Brett Steenbarger – How to master trading psychology, and introduce new best practises

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For this episode, I interviewed a very special guest; Dr Brett Steenbarger (after many, many requests from listeners).

Brett is a very well known trading psychology coach, and has consulted to some of the biggest names in the industry. He’s also a respected author who has now published four books, some which have been recommended reading by previous guests on this podcast.

During our conversation, I asked Brett how to break bad trading habits and introduce new best practises, to explain why traders need to be adaptable in markets, plus how we should think about goal setting and measure progress. And of course, much more about how to enhance your performance as a trader.

If you do enjoy the interview, please leave an iTunes review! Click here

Mar 23 2016

59mins

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Rank #17: 096: Nico (@InefficientMrkt) – An eight year overnight success story, and a thirst for momentum

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Nico (@InefficientMrkt on Twitter) is a day trader with a thirst for momentum. He predominately trades low-priced stocks that have a tendency to move fast and far—and roughly 90% of his positions are on the short side.

But the main reason why I brought Nico onto the podcast, is I feel as though he has a story which many traders will be able to relate to, on one level or another…

The short of it is; Nico placed his first trade in 2007, made 4x on his starting capital year one, and then slowly bleed his trading account for the next seven years. He’s now found his groove, but his overnight success was eight years in the making.

This episode is very much centered around Nico’s journey and development as a trader, and how full-time trading became more than a pipe dream.

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Sponsored by Darwinex.com: Each month, Darwinex invest €1,500,000 with their top performing traders! Learn more about Darwinex here.

Oct 26 2016

1hr 7mins

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Rank #18: 017: Jason Leavitt – Swing trading for a large chunk of the major trend, plus the one common trait amongst million dollar traders

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Like many who get into trading, Jason had no formal education in the field. Actually, prior to trading full time he was waiting tables in a restaurant and bartending.

This is where he began swing trading and to this day, Jason is still primarily a swing trader. Riding trends anywhere from a few days or a few weeks, sometimes it's even a matter of months when his aim is to take out a large chunk of the move. Ultimately the market environment dictates his holding time.

This is somewhat similar to the way I like to trade, so I found many of the answers Jason gives out during this interview to be particularly interesting, and I'm sure you will too. Regardless of the time-frame you trade.

Also, in the later part of this interview, Jason shares a story about the wildly successful independent traders he's met, and the one standout trait they all have in common. Which is again, really insightful.

Q + A: If you would like to ask Jason a question and get a few pointers - drop a comment at the bottom of chatwithtraders.com/jason and he'll respond to you with an answer.

Apr 22 2015

54mins

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Rank #19: 183: Gregory Zuckerman – Jim Simons—the pinnacle of trading greatness

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Gregory Zuckerman is a writer at the Wall Street Journal and author of The Man Who Solved the Market: How Jim Simons Launched The Quant Revolution.

For anyone unfamiliar, Jim Simons is the brilliant-minded mathematician who founded hedge fund Renaissance Technologies. Using quantitative models and with billions in AUM, Renaissance has averaged annualized returns of net 39% since 1988. And these returns only become more spectacular, once you discover that Renaissance investors pay a management and performance fee of 5 and 44—therefore bringing the gross annualized returns to 66%.

Due to the superior performance, today, Jim has an estimated net worth of $23-billion. Greg describes him as being, “The greatest money maker in modern financial history.”

Although journalists have previously covered the rise of Renaissance, for the longest time, much of it was still shrouded with mystery. But by gaining remarkable access to Jim and also many of the people around him, Greg has been able to tell the full story, in print, with detail and accuracy.

Pick up a copy of The Man Who Solved the Market, available on Amazon.

Nov 14 2019

1hr 4mins

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Rank #20: 057: Jesse (@PsychoOnWallSt) – $500k of “beginner’s luck” and how to thrive as a part-time trader

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This week, I have a really interesting guest on the podcast; his name is Jesse, but in the Twittersphere he goes by @PsychoOnWallSt. (a play on the cult film American Psycho)

A couple things you should know about Jesse is; he made $500,000 in 90 days trading marijuana penny stocks, and then lost it all just as quickly – one wild story…

He went from part-time to full-time trading, and for now, has returned to part-time trading with the results confirming this was a profitable move. He describes his approach as a hybrid between a day trader and a swing trader.

And his motive for trading, is to one day open a fully-functional no-kill animal shelter – needless to say, I have a great amount of respect for Jesse.

All of these topics and more are covered in-depth during the interview. Plus, Jesse has also offered to answer any questions you may have for him at chatwithtraders.com/57. So go ahead and take advantage of this!

Jan 27 2016

1hr

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195: Ilan Israelstam – The inner workings of an ETF manager

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Ilan Israelstam’s a co-founder of Australian ETF manager BetaShares and a principal at VC firm Apex Capital Partners. Betashares first begun trading in 2010, and currently, it manages approximately $10-billion dollars in assets, across 61 funds—all of which trade on the Australian Securities Exchange (ASX).

The motive in asking Ilan to be on the podcast was to learn more about how ETF managers operate and to delve into some of the technical aspects of ETFs. In summary, the topics we cover: risks for ETF managers, how ETF managers make money, the necessity of designated market makers, how ‘short’ and ‘leveraged’ ETFs trade as intended, tips for investing in ETFs and researchable ideas for trading ETFs.

May 21 2020

1hr 5mins

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194: Liam Vaughan – Bedroom trader amasses fortune, becomes prime suspect of Flash Crash

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Liam Vaughan is a finance author and senior reporter for Bloomberg.

His latest book Flash Crash tells the story of Navinder Singh Sarao, a London trader, living at his parents house, who made ~$70M from his bedroom and was later accused by the U.S. government of playing a role in the 2010 Flash Crash.

For anyone unaware, this was a deeply perplexing event in which the U.S. stock market, one afternoon, plunged approximately 9% and then almost completely rebounded, all in the space of just 30-minutes.

While Liam speaks on many interesting moments from Nav’s life in this episode—from beginning as prop trader in 2003, through to when he was extradited to the U.S. in 2016—it’s only a sample of what’s covered in the book (an absolute must-read!)

May 07 2020

51mins

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193: Greg Newman – Dynamics and themes impacting the global oil market

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Returning guest, Greg Newman, is a founding partner and the CEO of Onyx Commodities—a London-based proprietary trading firm, prominent in market making of oil derivatives.

This episode focuses on recent events pertaining to the global oil market. More specifically, Greg talks through; key themes impacting prices, supply and demand dynamics, why Crude and Brent futures alone aren’t entirely a true reflection of the oil market, how lower prices affect producers and corporates, etc.

Given the subject matter, this episode won’t be for everyone—it’s very specific to oil. But if the energy sector interests you, believe me, Greg’s an incredible wealth of knowledge.

Episode recorded: 2nd April 2020.

Apr 20 2020

52mins

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192: Kevin Muir – ‘Whatever it takes’—how reserve banks react to economic pressure

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As we’ve seen making headlines recently, reserve banks around the world have been adding liquidity to the market in an effort to stabilize economies. While some listeners will already understand how reserve banks conduct these operations, I figure there will be others who don’t completely grasp what takes place below the surface…

To get clarity on the subject, I kindly asked Kevin Muir to appear on Chat With Traders for a second time and to explain the actions of reserve banks during this market downturn. Because, in my opinion, Kevin has a gift for analyzing and explaining complex subjects in a way which is easy to follow.

Kevin was a derivatives trader for a Canadian bank during the 90’s, and has been an independent trader from 2000 onward. He also writes a brilliant financial newsletter, The MacroTourist, and co-hosts The Market Huddle podcast.

Apr 07 2020

39mins

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191: Nishant Porbanderwalla – Extreme volatility—trading markets during a global pandemic

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This is an episode to cover the extreme volatility in markets, following the recent outbreak of coronavirus…

Joining me is Nishant Porbanderwalla, returning for a second time on Chat With Traders and here to discuss how he’s been navigating through the turmoil of a global pandemic. Nishant is a proprietary equities trader at Kershner Trading Group, with well over a decade of experience behind him.

For the purpose of a timestamp, please note this conversation was recorded immediately after the U.S. close 18th March 2020.

Mar 23 2020

34mins

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190: Christian Castillo – My First Year Trading Full-Time...

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In a recent episode, I mentioned that I'd be doing a few more interviews with less-experienced traders, who begun with $20,000 or more, have completed 12-months of full-time trading and are making a real effort to get better. Here's another one in the series...

My guest is Christian Castillo, he resides in California and trades the foreign exchange market using methods of technical analysis. Although Christian is relatively fresh as a trader, he put up—what I would consider to be—a solid first year. He made money 9 of 12-months, and finished 2019 with a profit just shy of $20,000.

We speak about Christian funding his account from driving Lyft, his experience going full-time (favorable and adverse moments), the premise of his trading strategy, the forex market in general, among other things too.

Mar 16 2020

58mins

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189: Best of Risk Management, Pt. 2

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Welcome back, as we continue from where we left off last time—here's the Best of Risk Management, Pt 2. Again, this is a compilation of highlights from past interviews, all of which are applicable to managing risk and staying in the game.

My hopes in compiling this 'best of' episode is that you'll have a go-to reference for anytime your risk controls require attention, as well as drawing your focus to a few episodes that may have gone unnoticed. If you'd like to hear the full interview with any guest featured, you'll find the link in the show notes: chatwithtraders.com/189

Feb 27 2020

1hr 7mins

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188: Best of Risk Management, Pt. 1

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After sifting through the archive of near-200 episodes, I’ve compiled some of the best bits pertaining to risk management. As there were many bits I deemed fitting for a ‘best of’ episode, it made sense to split the compilation across two parts—this is part one, and part two will follow next (Episode 189).

The idea behind creating this compilation, is to reinforce the instrumental role that risk management plays in a traders’ ability to stay in the game. It can also serve as a go-to reference for anytime you find trading loses getting out of hand.

One other reason, is to highlight some past interviews which you have missed or skipped over. If you’d like to hear the full interview with any guest featured, you’ll find the link in the show notes: chatwithtraders.com/188

Feb 11 2020

52mins

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187: Josh Evans – My First Year Trading Full-Time...

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I recently had an idea, I thought it may be an interesting exercise to have a few less-experienced traders on the show. On Twitter, I wrote that I’d like to chat with someone who:

1. Has just completed their 1st year of full-time trading

2. Started with a minimum of $20,000

3. Is or isn’t profitable (not important), as long as he/she is taking deliberate action to improve

From this tweet I received many DM’s for consideration, and after filtering through them, I’ve asked several people who fit this general description to share their experiences on the podcast…

The first cab off the rank is Josh Evans; 30-something years of age, living in Melbourne (Australia), and actively trading ASX equities.

This conversation with Josh follows his progression from newbie investor to intraday trader—including his motivation and preparation for going full-time. A few specific things which have helped Josh to get his equity curve pointing in the right direction. Plus, deliberate processes Josh has implemented for improvement, one piece of advice he received that made a difference, and that’s not all!

Jan 23 2020

1hr 2mins

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186: Sudhu Arumugam – Advancing crypto ecosystem—post two decades of institutional trading

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Joining me on this episode is Sudhu Arumugam, the co-founder and Chief Risk Officer of cryptocurrency futures exchange CoinFLEX.

Though prior to this, Sudhu spent near 20-years in various trading roles for banks and hedge funds—mostly transacting in options on indices and single stocks, exotic derivatives and fixed income.

We start things off by talking about Sudhu’s early days and experience in London’s LIFFE trading pit, meeting and trading with DRW founder Don Wilson—who he identified as a “force to be reckoned with.” Sudhu also speaks about heading a small institutional trading team within Merrill Lynch and shares insight to its OTC dealings.

Then in the later part, we speak more about crypto and the efforts of CoinFLEX to become a market leading exchange.

Jan 13 2020

54mins

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185: Jaime Rogozinski – The reckless abandon of WallStreetBets—where brazen risk-taking runs rampant

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Jaime Rogozinski, a serial entrepreneur who resides in Mexico, is the man responsible for bringing WallStreetBets to life—the infamous and wildly popular subreddit, which proudly boasts the tagline, “Like 4Chan found a Bloomberg terminal.”

In other words, WSB is an online forum (on Reddit) where the majority of it’s 700k+ members aren’t looking to establish long-term, sustainable trading careers. Instead they’re buying lotto tickets on commission-free trading apps, taking almighty risks, and attempting to strike it rich fast.

This is a community, of mainly unsophisticated investors, where losses of 10’s and 100’s of thousands of dollars are so common that it’s considered the norm. And although less common, there’s also the occasional member who’s handsomely rewarded for his or her audacious risk-taking. It’s kind of insane what goes on here, especially because it’s real-life (minus the odd trolling stunt).

But make no mistake, I’m not throwing shade at WSB! The brazen culture is fascinating and you can’t help but appreciate the rawness of it all, not to mention the comments provide priceless entertainment value. And there just might be some insight to gleam, if you look hard enough (even if it’s do the opposite!) Sound and rationale financial advice has no place on WSB.

Speaking with Jaime, he tells how the subreddit evolved and took on a life of its own, highlights from the timeline; featuring a member who exposed an ‘infinite money cheat code’ on Robinhood and the infamous ‘Pharma Bro’ Martin Shkrelli who was once a moderator, plus the largest gains and losses in WSB history.

Dec 18 2019

51mins

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184: Mike Mangieri – Behind the scenes of an equities day trading firm

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Mike Mangieri’s a co-founder and managing partner of Seven Points Capital—a proprietary trading firm in New York, and with several smaller offices in other U.S. cities as well as Toronto.

Although Mike occasionally trades in volatility products, his days mostly revolve around operations of the firm and overseeing the traders. Therefore he has a slightly unique perspective on things, compared to the perspective of an individual trader…

In our conversation we roll through subjects, such as; the birth of a trading firm, a day in the life of Mike, monitoring risk—both, on a firm and individual level, psychology and mindset, examples of general interactions that Mike has with the traders—and some of the difficult conversations he has from time to time, plus more.

Nov 27 2019

1hr 12mins

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183: Gregory Zuckerman – Jim Simons—the pinnacle of trading greatness

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Gregory Zuckerman is a writer at the Wall Street Journal and author of The Man Who Solved the Market: How Jim Simons Launched The Quant Revolution.

For anyone unfamiliar, Jim Simons is the brilliant-minded mathematician who founded hedge fund Renaissance Technologies. Using quantitative models and with billions in AUM, Renaissance has averaged annualized returns of net 39% since 1988. And these returns only become more spectacular, once you discover that Renaissance investors pay a management and performance fee of 5 and 44—therefore bringing the gross annualized returns to 66%.

Due to the superior performance, today, Jim has an estimated net worth of $23-billion. Greg describes him as being, “The greatest money maker in modern financial history.”

Although journalists have previously covered the rise of Renaissance, for the longest time, much of it was still shrouded with mystery. But by gaining remarkable access to Jim and also many of the people around him, Greg has been able to tell the full story, in print, with detail and accuracy.

Pick up a copy of The Man Who Solved the Market, available on Amazon.

Nov 14 2019

1hr 4mins

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182: Nico, @InefficientMrkt – An eight year overnight success story; three years later

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Nico, who goes by @InefficientMrkt on Twitter, is an intraday equities trader. His area of expertise lies in low float, micro cap stocks, near-exclusively playing the short side of overextended moves.

Nico and I spoke almost exactly 3 years ago on episode 96—which was memorably titled, "An 8-year overnight success story." Now picking up where we left off, we discuss what's been happening as of late...

The most notable development being; after many years trading retail, Nico has gone into proprietary trading with Seven Points Capital. Going one step further, he has also established and heads up the firms' San Diego office.

During the second half of this episode (from 40:20), I ask Nico to share how he's evolved as a trader in recent years—or more specifically; what has changed, what remains the same and what's been fine tuned.

Oct 30 2019

1hr 13mins

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181: Robert Greifeld – Crisis Averted: Saving Nasdaq from a path of ruin

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This episode features high-profile American businessman, Robert Greifeld, who from 2003-2017 served as the CEO at Nasdaq—one of the world's largest and widely known financial exchanges.

Bob came into this role at a time when Nasdaq was on the verge of an internal crisis, he was tasked with turning it around and making transformational change. Throughout our conversation, he tells of the critical moments and drastic actions, insight to Nasdaq's many acquisitions and its business model, plus lessons in leadership and career advice.

Having since stepped down from Nasdaq CEO, Bob's recently written a book that details his entire experience at the helm. The book is titled Market Mover, and you can get a copy here.

Today, Bob is the managing partner of Cornerstone Investment Capital—a fin-tech investment firm, and the Chairman of Virtu Financial—a prominent trading and technology firm.

Oct 14 2019

50mins

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180: Larry Hite – Reflection on markets and life—with a man who’s had vast financial success

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There’s no other way to say it; Larry Hite is the definition of a market veteran, he’s someone who first developed an interest for trading and markets during the 60’s…

Besides a reputation for extreme risk management, Larry is perhaps best known as co-founding Mint Investments—a hedge fund formed in 1981. He’s also considered to be one of the forefathers of trading systems and a pioneer of trend following.

By 1988, Mint achieved an average annual compounded return of over 30%—it’s best year being 60% (in 1987, the year of the stock market crash) and it’s worst year up 13%.

By 1990, Mint was the world’s largest hedge fund at the time, with $1-billion of assets under management. It was also around this time, that Mint’s performance caught the attention of Jack Schwager, as Larry was profiled and interviewed in the first book of the best-selling Market Wizards series.

Now almost 30-years on, Larry has written a book of his own titled The Rule. It reflects on life experiences, trading lessons, and pretty much, how the most unlikely kid in the classroom went on to generate a significant personal fortune.

During this episode, Larry and I discuss trading, risk philosophy and probability, life and memorable moments, and Larry’s work as a philanthropist too.

Sep 23 2019

57mins

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179: Mike Komaransky – Going All In: The fixed income trader early to Bitcoin

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For many, this will likely be the first time hearing about Mike Komaransky, but those who know him already, know him as a Bitcoin OG—and deservedly so, as he began accumulating the cryptocurrency around 2010.

Though Mike has been a professional trader of fixed income derivatives since 2001, when he joined powerhouse trading firm DRW. Mike later became a partner at DRW, and in 2014 he launched its cryptocurrency trading business Cumberland—which grew to become one of the world’s largest market makers.

After leaving the company in 2017 and a hiatus from active trading, Mike has returned as the founder and head of Grapefruit Trading.

Over the course of our conversation, we chat about; Mike’s distinguished trading career, the strange ways that he bought Bitcoin in the past (when it was far less accessible), Cumberland’s participation in the auction of seized Bitcoin from the Silk Road bust, Mike’s disdain for technical analysis, and plenty more…

Aug 26 2019

1hr 20mins

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178: Nick Radge – The Blueprint: Create a simple trend following system

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Returning guest Nick Radge is a systematic trader of trend following, momentum and mean reversion strategies—which he runs across Australian and U.S. equity markets.

When I asked Nick if he'd be willing to do another podcast, I said to him, "This time around, I'd like to discuss something very specific with you; how to create a simple trend following system."

So, that's exactly what we did; a complete breakdown of Nick's process. This includes details about strategy objectives and idea generation, portfolio testing and analyzing results, position sizing and risk management, and execution in a live market.

This episode should be helpful for anyone interested in riding big market trends (regardless of asset class). And even if trend following doesn't overly appeal to you, then you'll still pick up useful insight to trading systems.

Aug 05 2019

1hr 28mins

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177: Sam Bankman-Fried – Leaving Wall Street, entering crypto chaos

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This episode features Sam Bankman-Fried, who’s trading skill originated from 3-years at Jane Street—a proprietary trading firm renown for being one of the world’s largest ETF liquidity providers.

In late-2017, Sam relocated to Hong Kong and began his foray into the cryptocurrency market when he co-founded Alameda Research. Alameda trade a range of quantitative strategies—such as statistical arbitrage and market making—which are mostly automated, but with a layer of human intervention.

Within 2-years Alameda has grown to a point, where each day, it does approximately one billion dollars of turnover across 35 exchanges, accounting for somewhere near 5% of global crypto volume.

Sam and I got to discuss many aspects of how Alameda operate and how his team have found lucrative opportunity amongst a chaotic environment…

Jul 21 2019

1hr 4mins

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176: Alex, @TAGRtrades – Can the family breadwinner become a full-time trader?

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This episode takes on a slightly different format to normal. Essentially, it’s a response to an email that I received from a listener…

The email comes from a gentleman who’s 38 years old with a full-time job, his wife is currently studying and he has three kids. He also has the goal to transition out of his current career into full-time trading, but he has a family who are dependent on his income. And that’s the part he has questions about.

Therefore, I asked Alex (@TAGRtrades) if he’d be willing to join me on this episode and share his thoughts on the matter. Alex is a full-time day trader, who has developed skill for trading long side momentum in U.S. equities. He’s also appeared previously on episodes 119 and 157.

Jun 20 2019

50mins

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Valuable Resource!!

By SouthLaCajun - Feb 11 2020
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CWT is an amazing resource that will benefit traders of all experience levels. A must listen!

Episode 187 my favorite so far!

By cnaccio - Jan 25 2020
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Love the new episodes in 2020. Amateurs for the win!