Wed, 3 June 2015
I was fortunate enough to speak with David Bush, an extraordinary, seasoned trader with 20 years experience in financial markets.
David comes from a non-traditional background, and what I mean by this; he has no formal education in the field of finance. In fact, he is a music graduate and performed as a professional musician for many years.
But as you’re about to hear, David changed paths during his twenties to become a trader. After overcoming the initial challenges that all new market participants endure, David did well for himself as a discretionary trader for many years.
But with an urge to optimize his trading approach he gradually transitioned into a quantitative trader and went searching for new ways to exploit opportunities within the market. From there David has gone on to take out the number one spot of BattleFin’s ‘Sharpe Ratio Shootout’ (an international quantitative finance tournament), with over 3000 competitors.
During our interview David brings a really insightful take to topics such as the transition from discretionary to quantitative trading, how to eliminate a single point of failure by trading multiple systems, and how the Monte Carlo tool can teach you a lot about how robust your strategy really is.
Direct download: ep2002320-20david20bush.mp3
-- posted at: 7:00pm EDT
Wed, 27 May 2015
This week I have great pleasure in saying, my guest on the show is Mike Bellafiore.
Mike is the co-founder of SMB Capital, a proprietary trading firm in New York City, as well as SMB University which is the arm for trader education. He’s also the author of two very popular trading books ‘One Good Trade’ and ‘The Playbook’.
Additionally, Mike is a regular contributor to Yahoo Finance, and often appears on CNBC’s Fast Money, CNN Money, Bloomberg, and Fox Business. But even with all of this going on Mike is still a very active, very successful trader.
During our interview, Mike delivers some great insight about traders often confusing psychology for a lack of edge, and an overview for one of his favorite setups which has been labeled ‘The Money Trade’. Plus, he shares the development program new traders go through when joining SMB Capital, and a few top-level pointers on how to achieve a sustainable trading style.
And I just want to point out this interview was recorded on the 20th of May, only reason I say this is because Mike mentions a few market events during this interview.
Direct download: ep2002220-20mike20bellafiore.mp3
-- posted at: 6:16pm EDT
Wed, 20 May 2015
Welcome to episode 21, with a very special guest; Adam Grimes.
Adam is author of the very popular book titled, The Art and Science of Technical Analysis, which covers market structure, price action and trading strategies. He is also the Chief Investment Officer of Waverly Advisors, and host of the Market Life podcast.
Adam’s career dates back almost 20 years, during that time he has traded a wide range of asset classes, both independently and along side a well-respected prop firm. Plus, he also did a stint on the New York Mercantile Exchange (NYMEX).
Over the next hour or so Adam shares his interesting outlook on the market, and many aspects of trading. So as you could imagine this include plenty of discussion around technical analysis, but you’ll also pick up a number of great psychology tips to help you with the mental aspect.
Direct download: ep2002120-20adam20grimes.mp3
-- posted at: 6:58pm EDT
Wed, 13 May 2015
This week I was thrilled to speak with a well respected, high-energy, and incredibly insightful trader. And who many of you probably already know as the head honcho at Bulls on Wall Street, his name is Kunal Desai.
I’ve been trying to bring him on as a guest for quite sometime now, but it’s finally happened, so I’m glad to be sharing this with you!
If you’re unfamiliar with Kunal, I’m gonna give you the super condensed intro, because we discuss his journey in great detail for the first part of our interview.
So Kunal is essentially an intraday momentum trader. He’s been trading since his teens, and just like many of us, he really struggled for many years going into his twenties. Eventually persuading one of the few profitable traders he knew at the time to show him the ropes. This profitable trader was Paul Singh, who taught him how to actually work the market like a trader. From there, overall it’s been onwards and upwards.
During our discussion we cover quite a range of topics, lost of interesting stuff, and a ton of great pointers. Read below for the breakdown, or better yet – hit play!
Direct download: ep2002020-20kunal20desai.mp3
-- posted at: 8:20pm EDT
Wed, 6 May 2015
I’m not sure how it happened, but this interview somehow slipped through the cracks. I actually had the conversation with this weeks guest around November last year (2014), and it’s been tucked away in a folder ever since.
But let me introduce you to this weeks guest – Stuart McPhee from Melbourne (Australia), he’s an equities and forex trader who has been involved with the markets for around about 20 years. And he is also the Author of ‘Trading in a Nutshell’.
Our discussion was heavily based around trading plans, covering things like, what exactly is a trading plan, how to create one, and then the trickiest part of all – how to actually follow it with discipline. Actually, Stuart shares a very simple discipline hack that will help you to follow your plan for the long term, not just the next week or so.
Even though it’s taken a while to surface, I’m pleased to finally share this interview with you.
Direct download: ep_019_-_stuart_mcphee.mp3
-- posted at: 2:18pm EDT
Wed, 29 April 2015
This weeks guest is a little different to many of the guests I’ve had on in the past. Instead of giving very little weight to fundamentals and news releases, these two things actually form the foundation for his trading approach. In fact, he almost disregards charts altogether, and he relates the reason for this to his background in accounting and finance.
John Welsh has been a full time trader for over 10 years and he’s racked up millions of dollars in profits along the way.
His trading consists of both intraday and swing trading, and he concentrates mainly on Biotech stocks, making roughly 90% of his trades within this sector.
Now that I’ve given you the 1,000 ft view on John’s trading journey, here he is to fill in the blanks, and give us a lot more depth around his approach.
Direct download: ep_018_-_john_welsh.mp3
-- posted at: 5:06pm EDT
Wed, 22 April 2015
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.
Direct download: ep200017.mp3
-- posted at: 1:38pm EDT
Wed, 15 April 2015
It’s almost unfathomable to think that there was a time when it would take a couple minutes to execute an order. And now days we have traders taking extreme measures, just to get filled a nanosecond quicker than the next participant.
But for this weeks guest Tim Biggam, that was the reality when he first entered the world of trading during 1985. And that entrance was straight onto the floor of the CBOE.
Just a couple years into his journey, Tim experienced the full force of the infamous 1987 crash. While he survived, and was still in good shape to trade the following day, this gave him a true appreciation for the importance of correct position sizing, after seeing so many traders get wiped out. Tim really goes into the topic of position sizing and why it is absolutely vital to get it right during the later part of this interview, so make sure to stay tuned in.
Additionally, Tim does a great job of explaining some of the terminology associated with options, how he uses scanning technology to generate trade ideas, and a whole lot more.
TAKE NOTE: Tim will be keeping a close eye on the comments at http://chatwithtrader.com/tim – so be sure to leave a question you would like him to answer!
Direct download: ep_016_-_tim_biggam_interview.mp3
-- posted at: 7:54pm EDT
Wed, 8 April 2015
Joel Kruger has been involved with foreign exchange since the very beginning of his career in investment banking as a currency strategist. This was after he came to the realization that he wasn’t cut out for law school.
But now days Joel is in the trenches as a self funded Forex trader, who has pushed on through many failures and created a tremendous lifestyle for himself, and his family.
Also it’s worth mentioning. Even if you’re not a Forex trader, Joel has a bunch of really good psychology tips that he shares throughout this interview.
And a special thanks to the guys who submitted questions over Twitter before this interview, Joel does a great job of answering these. So hit the play button, and start listening…
Direct download: ep_015_-_joel_kruger.mp3
-- posted at: 8:58pm EDT
Wed, 1 April 2015
With an involvement in trading since his early twenties, and a background in mathematics and computer programming, it was a natural progression that this weeks guest would adapt a completely algorithmic trading approach.
My friends, I would like you to meet Ilan Azbel.
Ilan joins us to discuss algorithmic trading, and share some insights on a side of trading that is unfamiliar territory to many, especially in the retail space.
While we spoke for close to an hour, in the scheme of things, we only just managed to scratch the surface. But all in all, I think you'll find this really interesting and enough to get you curious (and maybe even excited) about the possibilities of algorithmic trading.
Direct download: ep_014_-_ilan_azbel.mp3
-- posted at: 7:34pm EDT