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The Michael Martin Show

Michael Martin discusses trader psychology and emotional intelligence.

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The best episodes ranked using user listens.

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How you can profit more with options

Michael Martin interviews options trader and portfolio manager Hari Krishnan on the current environment and how traders can position themselves with options to capture greater profits.  Krishnan is the author of The 2nd Leg Down: Strategies for Profiting after a Market Sell-Off. 

46mins

27 Apr 2018

Rank #1

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You can learn trading faster intellectually rather than emotionally

You can learn trading faster intellectually rather than emotionally. That's why it's easy to understand, but hard to do. Your emotions can get the best of you, stop you cold in your tracks, kill your confidence, and keep you at the level of a very knowledgable spectator. 

15mins

5 Jun 2018

Rank #2

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How to Trade Earnings Season with Mike Katz

1hr 17mins

16 Aug 2018

Rank #3

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Impress your clients by doing these three things

Coach your clients about what they should expect. It will save you tons of time in work and having to explain things, and in the process make you look like a pro.

10mins

12 Apr 2018

Rank #4

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Prop Trading with Mike Katz of Seven Points Capital

Check out their videos at YouTube also.

1hr 6mins

27 Jul 2018

Rank #5

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What you need to do to survive your first three years

In this episode, Michael Martin has a frank discussion about what you need and what you don't need at the beginning of your career.  In one sense, your job is to survive. That means going slowly and playing superior defense.  Many traders keep a full-time job to make sure they can pay their bills before going solo. 

17mins

21 May 2018

Rank #6

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Why crypto investing is more risky than futures trading

Crypto investing is missing some key components that an investor's are used to in trading equities, options, and futures.  In this episode, Michael Martin discusses what's missing and why you should measure 8 times and cut once in the crypto space. 

5mins

26 Apr 2018

Rank #7

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Two ways to compensate your partners

You need a great deal of help when you're getting started. That doesn't mean you have to give away the house in order to get it. For one, I'll help you as much as I can with what I know that will save you time and money.  Second, pay as you go compensation plans have the most flexibility, as opposed to "you were here at the beginning, there are two of us, so you get 50%." That's a bad deal. When you align your goals with your overall behavior, you'll have harmony in your life and business. 

12mins

13 Apr 2018

Rank #8

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How to diversify across one market

There are traders whose sole responsibility is to create alpha in only one sector or in one commodity group. Sometimes, it might be in just one contract such as natural gas, for example.  Since most markets are not trending, focusing on one sector can be a challenge if there is no direction or trend. Unless you've been trained... These particular traders have learned to make money in natural gas regardless of the market environment. That ability did not show up overnight and it took a great deal of trial and error in order to understand the shifts between market environments.  You can get there also, but you have to be willing to run more than one system.  The key to understanding the context of "diversify" here, is that the trader deploys several systems depending on the market environment.  Get the MartinKronicle App for Android When markets are trending, they're long or short. When volatile and choppy, they have vol crush trades on. When consolidating, they have credit vertical spreads. And when seasonal, they can create calendar spreads in futures. These aren't day traders either.  You can study the relationships between an underlying security and all the related instruments to find your trading edge.  Admittedly, some of them have access to the cash commodity markets too, so that gives them many more combinations of relationships to study. 

5mins

9 May 2018

Rank #9

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Sperandeo on inflation and Bitcoin

Ultimately, blockchain technology is solid, but Bitcoin is a tulip bubble.

17mins

21 Mar 2018

Rank #10

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What potential clients really want from you

It's the differences that sell. Your potential clients are looking for more than just performance from you.  Spend some time taking notes on this episode if you're looking to get new assets from potential clients.

14mins

11 Apr 2018

Rank #11

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Three things to consider to calculate your optimal position size

Position sizing has the most impact on your P&L, so make sure you get it right. In strongly trending markets, you can throw a dart to pick your entry and make a ton of cash.  The position size is the part of your trading algo where the sword cuts both ways. It's also the part of your trading that goes to the core of any self-doubt you might have about your ability. Trade to big and bad news and bad luck can hurt you badly and destabilize you for weeks or months. Trade to small and never get anywhere for all your efforts (it's possible to trade too small and not have enough risk to meet your financial goals). In this episode, Michael Martin discusses several things to consider as you carve out your methodology for position sizing. 

14mins

28 May 2018

Rank #12

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Why failure is guaranteed if you don't stay on message

You need two variations of your marketing message: one for individuals and high-net-worth families, and another for institutional investors and allocators.  These two segments speak different languages and their concerns are very different. For example, if you launch into your pitch loaded with industry jargon to a HNW family, they won't understand a thing you're saying, whereas the allocator will.  If you waver too much, you'll inadvertently end up trying to be everything to everybody. That tactic doesn't work.  Learn to speak to your audience and be mindful of the subtle variations that will make you a success speaking to both segments. 

19mins

12 Jun 2018

Rank #13

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Why there are no bad feelings and all feelings are good

15mins

2 Jul 2018

Rank #14

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How to use options to reduce risk in your portfolio

With the likelihood of the fed tightening, investors who rely on certain instruments for income are in a tough spot. They can use options to transfer the risk and hold their current positions.

5mins

25 Apr 2018

Rank #15

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Two things a stock's price reveals

Despite the enormous "want" from investors from this growth opportunity, the stock is low priced. Why is that? Does price move first and fundamentals follow (as PTJ said), or is it the other way around? IMHO, price is the only thing that will tell you the truth, and in this case it doesn't matter if you uptime and downtime the chart - the answer is the same. Investors are in a "wait and see" mode.  Two things the price tells you are 1) what everyone is thinking about the prospects for growth; and 2) the overall trend of the security. If it's cheap, it's cheap for a reason. 

16mins

22 Mar 2018

Rank #16

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Why trading baskets might yield higher returns

You have to surrender control for this strategy to work for you. If you're hyper-vigilant once you're filled, or you have a strong emotional need to monitor your trades tick-by-tick, this isn't for you. 

11mins

23 Mar 2018

Rank #17

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What to do when the markets snap back

It looked like some of the markets were about to run, but they all came back.  How do you handle snap backs?  Michael Martin discusses how he handles quick reversals in the markets immediately after he establishes a position.

11mins

29 Mar 2018

Rank #18

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Getting over the weirdness of adding to winners

Most rookies are looking to take profits when the have a winning trade. Professionals look to continue riding the trend for all it's worth. As I've said here before, inexperienced traders need the boost to their self-esteem by posting smaller wins to validate their behavior as traders. Small or not, a win is a win and that's what's important to them. We advocate something that takes a little more evolution.  I have found in almost 30 years of teaching that a trader's unwillingness to add to winners is more of an uncomfortable, emotional problem than it is to understand the math involved. Like any behavior, it takes some getting used to, but if you do it enough times, you can make it a good habit and replace the bad habit of having price targets.

10mins

2 Apr 2018

Rank #19

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The reason personal goals can improve your trading ability

Setting personal goals in parallel with you trading goals can have a 1+1=3 type of payoff. For one, achieving personal goals can give you a boost of confidence and raise your self-esteem. I generally believe that it's impossible to do anything well if you lack confidence.  Trading is a game of failure and learning to succeed in the face of low accuracy and high expected values can help you develop the mental stamina necessary to survive periods of time where you have no evidence of any trading skill.  Two, having personal goals keeps your brain in a mode of "figure-out-ability" that is critical for trading success. Your trading tactics and methodology is going to come from much trial and error. When your brain is conditioned to figure things out, you're in a natural state of "curiosity leads to revelation leads to eventual solution."  When I have had to come to the trading whiteboard "cold" so to speak, it took me much longer (days and weeks) to get my brain in gear to figure out a solution.  Lastly, you'll meet new people along the way when you have similar interests. People tend to like and become friends with other people who share experiences. Maybe some of these people would be interested in learning about your trading process and hiring you to manage the money?

5mins

29 May 2018

Rank #20