Rank #1: 162: Mike Bellafiore – The formula for how to become a 7-figure day trader
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. -- 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
Rank #2: 069: John Carter – How an aggressive trader thinks, uses options, and made $1.4M on a single Tesla trade
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.
Rank #3: 156: Michael Katz – Day trader, green every month, talks consistency, strategy and doing size
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.
Rank #4: 044: Michele Koenig – Lessons from a decade of swing trading, and how to overcome early failure
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.
Rank #5: 100: Bao (@Modern_Rock) – Overcome adversity, dominate a niche, become ‘the house’
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. -- Sponsored by TradeStation.com – Trade with TradeStation. Enjoy access to many markets and products, cost-saving commission rates, and more.
Rank #6: 082: Futures Trader 71 – How to become the trader you wish you were
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. --- 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.
Rank #7: 047: Timothy Sykes – The hustle ‘n grind; beyond the big money, fast cars and exotic trips
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.
Rank #8: 104: Alex (@AT09_Trader) – An appetite for risk, and hitting hard when opportunity arises
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.
Rank #9: 003: Timothy Sykes – Inside the world of penny stocks and how to profit from market inefficiencies
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!
Rank #10: 098: Peter To – How successful day trading can fly in the face of conventional wisdom—with a former poker player and ex-prop trader
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. -- Sponsored by TradeStation.com – A fully-licensed online broker and trading technology provider (who have won a ridiculous amount of awards!)
Rank #11: 157: Alex, @TAGRtrades – What this day trader learned after returning 1400% in one year
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.
Rank #12: 128: Andy Kershner – Risk tolerance, daily habits and trade critiques
Andy has been an active stock trader since the early 90’s, and in 2001 he founded Kershner Trading Group—a proprietary trading and technology firm in Austin (Texas) and, through a partnership with SMB Capital, Kershner Trading have a second office in Midtown (Manhattan) too. So, what did we talk about? Andy's ability to take pain on adverse positions, whether or not this has been a key ingredient to his trading success, and do traders with higher risk tolerances make more money. Andy also shares his daily habits and critiques a trade which didn't go so well from the session prior to recording this episode. And naturally, we cover a few other things too... -- Sponsored by TradeStation.com: Very few online brokers offer the services, tools and technology (all-in-one!) – for active traders – like TradeStation do.
Rank #13: 119: Alex (@TAGRtrades) – What this day trader learned after four years of abandoning a secure job
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.
Rank #14: 148: John Grady – The order book—what traders must know about supply and demand
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.
Rank #15: 065: Brett Steenbarger – How to master trading psychology, and introduce new best practises
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
Rank #16: 057: Jesse (@PsychoOnWallSt) – $500k of “beginner’s luck” and how to thrive as a part-time trader
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!
Rank #17: 110: George (@RollyTrader) – Learning to trade, momentum setups, and becoming a venture capitalist
On this episode, I’m joined by George—who goes by @RollyTrader on Twitter. George is an Australian equities trader, with a momentum/swing trading type of approach. In the past, George has held a few finance-related positions, but since late-2009 he’s mostly traded independently. During the interview, George and I got speaking about; lessons he learned early on, the effect that coaching and mentoring has had on his trading, specifics about the setups George trades, and also, his involvement with venture capital. -- Sponsored by Gemini.com – The world’s first fully regulated and fully licensed Bitcoin exchange—for traders, investors & institutions.
Rank #18: 081: Alan Farley – Breaking down breakouts and dynamics of price movement, with The Master Swing Trader
Our guest this week is Alan Farley, who took his first trades in the late-80’s. Alan is an active swing trader, and most of his positions take place in the US equity market—although he occasionally trades index futures and currencies too. In 2001, Alan released his first book, The Master Swing Trader, which may be the best-selling book on the subject). He’s also a regular contributor to The Street and Investopedia, having written hundreds of articles over the years. Subjects you’ll hear about include; the unusual way in which Alan got a well-rounded education of financial markets. Some of the big lessons that shaped him into the trader he is now, in particular, the concept of convergence and divergence. Plus, we talk about the dynamics that generate price movement, and much more too. --- Sponsored by RealVisionTV.com, which is best described as the Netflix of finance. So quit watching lame TV—start watching the smartest minds in finance. Get a FREE 7-day trial here.
Rank #19: 017: Jason Leavitt – Swing trading for a large chunk of the major trend, plus the one common trait amongst million dollar traders
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.
Rank #20: 005: Steve Burns – What separates new traders from rich traders, and how to cross the divide
With tight risk management being one of them, he shares some of his own rules that could potentially save you a lot of money. And it’s worth noting, these rules have prevented Steve from returning to the severe drawdowns he experienced first-hand when starting out. But really that’s just the tip of the iceberg. We also go into the methods that Steve uses to actively trade in today’s market, and he how he found a system that works for him. So hit ‘play’ and enjoy some quality trading tips for the next 35 minutes.