Chat With Traders · Conversations With Talented Tradersin Stocks, Futures, Options, Forex And Crypto Markets.

Darren Reed (@LiftTheOffer) has been a stock broker, the head trader at a $300M hedge fund, and an active prop trader at Australian firms, Propex, Aliom and Gensis. At the later two, he also mentored traders as part of his role in trader development. But this year (2017), Darren has returned to Perth—on the west coast of Australia, to establish a new proprietary trading firm with a few partners; Cygnet Trading. The main focus of this episode can be summarized with just a few words; grit, hustle and intent. Further, Darren speaks about paying your dues, why environment is everything, and a window into the life of a discretionary prop trader. Learn more about your ad choices. Visit megaphone.fm/adchoices

Doug Cifu is the co-founder and CEO of Virtu Financial, one of the largest electronic market making firms in the world. Around the clock, Virtu are trading in 12,000 instruments, across 235 markets and 36 countries, with only 140 staff. Virtu often trade more than 4.5 million times a day, and prior to their IPO in 2015, Virtu reported the firm had made a profit 1,277 out of 1,278 days—losing money just one day between 2009 and 2014. And in recent news, Virtu made headlines 20th April (2017), after announcing their acquisition of rival, Knight Capital Group for $1.4 billion. Doug is also the co-owner of NHL team, Florida Panthers—with the second owner, being none other than his Virtu co-founder, Vincent Viola. Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael Mauboussin is a Managing Director and Head of Global Financial Strategies at Credit Suisse. He’s also a professor of finance at Columbia Business School, and the author of several books, such as; The Success Equation and More Than You Know. Michael is widely-recognized as a thought leader on the subject of decision making, as well as thinking about things in the way of process over outcome, and skill vs luck. And it’s these three things which are the over-arching theme of this episode. So hopefully, you’ll pick up a few good tips from Michael, that will help to improve your ability of making better decisions (and creating better processes) as a trader. -- Sponsored by TradeStation.com: Open an account with online broker, TradeStation, to enjoy; low-cost commissions, no software fees, free real-time data and free professional-grade scanning tools. Learn more about your ad choices. Visit megaphone.fm/adchoices

Mebane Faber is the founder and CIO at Cambria Investment Management, where he manages Cambria’s ETFs, separate accounts and private investment funds. He’s also authored numerous white papers and five books now, on various investing subjects. Meb’s a budding podcaster too, his podcast; The Meb Faber Show. The main reason why I asked Meb to join me for this episode, was to share some simple ways that active traders can capitalize on the opportunity and compounding effect that (somewhat passive) longer-term investing has to offer. So, I ask Meb about; where to start out, how to set expectations, various types of portfolios, when to enter the market, what to do during drawdown, what things new investors struggle with most, so on and so forth… -- Sponsored by TradeStation.com: Open an account with online broker, TradeStation, to enjoy; low-cost stock trades, no software fees, free real-time data and free professional-grade scanning tools. Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Learn more about your ad choices. Visit megaphone.fm/adchoices

High-speed trading veteran, Manoj Narang, originally worked on Wall St for the likes of Credit Suisse and Goldman Sachs prior to founding Tradeworx, which became one of the larger trading firms in the U.S. (in terms of volume). He’s since parted ways with Tradeworx to start MANA Partners—an innovative quant fund which raised almost one billion dollars for it’s launch in January this year (2017). As a brief summary for some of the things we got to chat about; the value of technology which drives some trading operations, capitalizing on the explosion of data, plus why aspiring traders should be willing to buck the trend and think freely. -- Sponsored by TradeStation.com – Open an account with online broker, TradeStation, to enjoy; low-cost stock trades, no software fees, free real-time data and free professional-grade scanning tools. Learn more about your ad choices. Visit megaphone.fm/adchoices

Larry Alintoff was a prop trader for Paul Tudor Jones, before running the largest group of traders on the AMEX (at the time). When he later went over to the NYBOT, Larry became the largest trader in the Frozen Concentrated Orange Juice pit, and now days, he’s CIO of The Toro Fund. During this episode, we cover; the thing which helped Larry to become consistent, why there’s great opportunity in knowing when things that “should” happen, don’t happen, and how he’s been able to successfully apply a similar trading style from the floor to the screens. Plus, how a market obsession has carried him this far… Learn more about your ad choices. Visit megaphone.fm/adchoices

Sean Hendelman is the co-founder and CEO of T3 Companies. T3 is one of the larger proprietary trading firms in the U.S. And incase you’re curious, the three T’s of T3 stand for; trading, training and technology. A few of the things Sean and I spoke about, include; how he got his start, how he lost all his money twice—and why it was a worthwhile experience (in hindsight), and some of the great lessons he’s learned from the business of trading. Even as CEO today, Sean is still very hands on with T3’s automated trading, so we also had an interesting conversation around this—some of his comments and views may actually surprise you. And hand traders, need not feel neglected, because there’s something in this for you to! Learn more about your ad choices. Visit megaphone.fm/adchoices

Adam Grimes has been a trader for more than 20-years, he’s traded all major asset classes, across various timeframes. He’s traded independently, with a prop firm, and he’s run other trading businesses also. The main focus of this episode is to explore some of the things which discretionary traders can adapt from quantitative traders, and vice versa—meaning, what things can quants take from those who rely on discretion. Then in the later part of this episode, Adam lays out a solid framework which can help struggling traders to move forward. As well as, the types of questions you should ask when you don’t know what you don’t know. Learn more about your ad choices. Visit megaphone.fm/adchoices

Brannigan Barrett is a futures day trader—who trades a total of eight markets, across; bonds, equity indices, currencies and commodities. He was previously a trader at prop firm, Futex, but is now part of Axia Futures. The subjects we cover during this conversation, include; how to progressively become a bigger (and better) trader, how a “dogfight” attitude has helped Brannigan’s trading career, how he prepares going into major news announcements, his daily process for journaling and being ready for “one good trade.” Plus, how to think about and achieve your trading goals. Learn more about your ad choices. Visit megaphone.fm/adchoices

Benjamin Small is an electrical engineering PhD. He’s worked in quantitative research roles since 2006, at UBS, Citadel, Credit Suisse and the stock exchange, IEX. Today though, Ben is head of market structure at Gemini—the world’s first fully licensed and fully regulated Bitcoin exchange, which is based in New York. During this chat, we get into; payment for order flow and high frequency trading, why there’s an incentive to normalize Bitcoin, the cryptocurrency ecosystem, potential outcomes for the future of Bitcoin, and becoming a cashless society. Learn more about your ad choices. Visit megaphone.fm/adchoices

Jorge Soltero began as a floor trader in Chicago, where he was an options market maker. A few years into his career, he landed a position at Hull Trading Company (the renowned firm of legendary trader, Blair Hull). After Hull Trading was bought by Goldman Sachs in 1999, Jorge became more of an institutional trader—not only working at Goldman, but later, UBS and Merrill Lynch too, where he specialized in options and ETFs. Listening to this episode you’re going to hear about; the culture of trading pits, exactly what it was like to be a trader at Hull Trading Co., the transition to electronic trading, what makes ETFs an attractive product, and more… -- Sponsored by Gemini.com: The first fully regulated Bitcoin exchange, for traders and investors. Register for one-month of FREE trading. Learn more about your ad choices. Visit megaphone.fm/adchoices

Returning to Chat With Traders for a second time is David Bush—first on episode 23. David began as a discretionary trader, more than 20-years ago, but over time he’s developed into a quant trader. And he’s exceptionally good at what he does; David’s been the first place winner of two (real money) trading competitions in recent years. Last time David was on we spoke fairly extensively about his path as a trader and a high-level overview of his process. This time around we covered plenty of new ground—exploring David’s process in greater depth. Also, I particularly liked David’s comments towards the end about, “Intensity, not time.” Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Learn more about your ad choices. Visit megaphone.fm/adchoices

I’m not sure how to best say this, but Edward Thorp, is kind of a big deal… Not only in the world of financial markets, but he’s also a household name amongst the gambling scene. He’s the man who beat the dealer, and later, beat the market. It was during the late-50’s and early-60’s, when Ed, a math genius and professor at MIT, took on the challenge of discovering a way to get an edge playing gambling games such as blackjack, roulette and baccarat. Long story short; Ed won—and he’s now considered the father of card counting. From there, the next obvious move for Ed was to take on financial markets—which he also did with a great degree of success. His first hedge fund, Princeton Newport Partners, achieved an annualized return of 19.1% (before fees) over a 19-year period, with 227 of 230 months being profitable—the worst monthly loss being less than 1%. Ed’s most recent book, A Man For All Markets, is now available on Amazon. -- Sponsored by TradeStation.com – The online broker for professional market monitorin

Throughout this series, which has been a window into the workflow of professional quant trading firms, we’ve encouraged you to submit questions and requests for further clarification. So, in this episode, being the final installment, Delaney answers as many of these questions as possible (within 80-mins). -- Sponsored by DataCamp.com – Once you commit to learning how to program—specifically for data science and quant research, your next best step: Visit DataCamp to start any course, free! Learn more about your ad choices. Visit megaphone.fm/adchoices

John Netto, a former U.S. marine, describes himself as a high velocity, cross-asset class trader. He connects the ability to be versatile, adaptable, and interpret large amounts of information to be his greatest edge—for making lucrative returns. These are all things we cover during the interview, which includes discussion about; process, research, strategy, macro, and market regimes. We also talk about the benefits of stepping outside of your comfort zone, why there’s a need to embrace growing pains, and when emotion can be an ally. -- Sponsored by TradeStation.com: Trade stocks, ETFs, futures and options with competitive commissions (using an award-winning platform!) Learn more about your ad choices. Visit megaphone.fm/adchoices

For the great, Anthony Saliba, his initial 13-years in the field were spent as a market maker on the CBOE floor, where he made approximately $9,000,000 before 30 years old (and that was during the 80’s). At which point, he was one of the traders featured in Jack Schwager’s first Market Wizards’ book. Since then, Anthony’s continued to scale up—making major moves, both, through trading and through various business ventures. We spoke for close to two hours; about his experience on the floor, a trader education company which he founded, some of the non-cliché traits of great traders, longevity, and how he’s grown wealth as a parallel entrepreneur, amongst other topics. Anthony has also authored a new book for options traders; Managing Expectations. -- Sponsored by TradeStation.com – TradeStation won Barrons’ award for the online broker “Best for Frequent Traders” in 2016! Check ’em out. Learn more about your ad choices. Visit megaphone.fm/adchoices

Turney Duff was a hedge fund trader on Wall Street who lead a truly excessive lifestyle. In 2013 he released a book about his experiences—titled, The Buy Side. And currently, Turney is a consultant on the Showtime TV series, Billions. On this episode we cover everything, from what it was like to trade more than one billion dollars at Galleon Group—which was the hedge fund run by Raj Rajaratnam, currently serving an 11-year prison sentence for partaking in one of the largest insider trading rings in U.S. history. Following on from this, we discuss Turney’s relationships with the sell-side and the extreme measures they’d take to win his business. Which leads into the shenanigans which took place after-hours—the cocktail of drugs, alcohol, sex, money and power. We finish up with Turney’s fall from the top, some of the greatest realizations he’s come to, and the life he leads today… Enjoy! -- Sponsored by TradeStation.com – TradeStation connect traders with all the bell’s n whistles to better monitor and particip

Brendan Poots is the founder of sports betting hedge fund, The Priomha Group, who mainly bet on football, cricket, golf and also horse racing and tennis. Priomha setup shop in Melbourne (Australia) in 2010, and more recently, have expanded with a second location in Gibraltar (Europe). From inception up to the release of this episode, Priomha’s Cloney fund has returned a little over 220%. From listening to our discussion, you’ll gain great insight to how Brendan runs his operation—from getting investors to buy in, to controlling risk and minimizing the volatility of returns, and how the fund makes money trading sports games. Learn more about your ad choices. Visit megaphone.fm/adchoices