More Interviews, Uncategorized

Walter Deemer – Interview

CE5A09A8-4D68-46E3-B1C5-E9CF8C86EBA4QUESTION : Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are and your very impressive background.Including what boards that you served on in the trading industry?

WALTER : I first got hooked on TA via Joe Granville’s book in early 1962, just in time for the Crash Of 1962 and Cuban Missile Crisis, and learned a lot more in a State College board room that year than I did on Penn State’s campus. I started working for Merrill Lynch’s legendary Bob Farrell in April 1964, joined Gerry Tsai’s Manhattan Fund (“The Go-Go Years”) at the outset in 1966, moved to Boston to head Putnam’s Market Analysis Dept. in 1970, and formed Deemer Technical Research in 1980 to do TA for institutional money managers. Retired in 2016. Along the way, I was a founding member and the sixth president of the MTA (now CMT Association).

 

QUESTION : What and who got you into trading. You traded during what many considered the golden age of trading. I bet you have some great stories of characters that you traded alongside with. Care to share any?

WALTER : Trading? I very quickly learned I don’t have the right psychology to trade; I get too emotionally involved in trades, follow them way too closely, etc., etc. It takes a very special person to be a successful trader; I am not one of them.

Having said that, I am amazed how much easier it is to trade today than back then. People bitch about HFTs clipping fractions of pennies from orders – but specialists used to take eights and quarters out of every trade. Also, executions were far from instantaneous and commissions took a huge chunk out of every trade. The financial markets are constantly proving they are “the creations of man that have most humbled him” [Alan Shaw, Smith Barney], but at least the mechanics are a lot easier to deal with now. (Well, except for all those big overnight gaps.) 

 

QUESTION : What personal or professional failure/setback have you experienced in your life or professional career that has set you up for later success?

WALTER : I was really, really lucky to have been in the right places at the right times. I was in Merrill Lynch’s research trainee program in 1964 when Bob Farrell had just a week to replace Arch Crawford; since I had self-taught experience I jumped ahead of more senior candidates. I joined Tsai Management (Manhattan Fund) at the very beginning to experience the Go-Go years first-hand. I was hired at Putnam in 1970 and experienced the Nifty Fifty growth stock bubble first-hand. So I was very, very fortunate – and very, very lucky – not to have to learn via failures/setbacks like virtually everyone else.

Well, there was one memorable setback; Putnam’s investment bosses in the late 1970’s were a lot more focused on their business than investment results. They pushed me out because I told it like it was (the Nifty Fifty were in a post-bubble environment) rather than the way they wanted me to — which, not incidentally, is a trait a successful trader has to have. That’s why I left Putnam and formed my own company in 1980.

 

QUESTION : How would you describe what makes a successful Trader?

WALTER : Totally unemotional; has ice water in his/her veins. Absolutely willing to abandon/reverse a trade if conditions dictate. Analyzes facts; ignores opinions. Questions everything; there are no “infallible” indicators nor 100% certainties in trading. Never, ever fails to heed the message of the markets.

 

QUESTION : What do you feel is the role in having a balance all around life in your day to day activities. What hobbies do you enjoy?

WALTER : Maintaining an all-around balance on life is a very, very difficult proposition since just about everything has some sort of impact on one’s financial thinking. Hobbies? I used to be very active in ham radio contests, where we tried to make as many contacts as possible in 10-48 hours.

 

QUESTION : What advice would you give to your younger self as it relates to your personal life. What about advice for your younger trading self?

WALTER : Learn everything you can from everyone you can. But question everything; emphatic assertions of absolute truths often aren’t what they’re claimed to be. Keep some hand-drawn charts of key stocks/futures when you start out.  Finally, when you decide to buy something, don’t be cute and try to finesse a better entry price; buy at least half of the position immediately no matter how extended it looks. Most of the time you’ll buy the rest even higher – and if you’ve bought half at least your foot is in the door and you won’t sit there waiting forever for that elusive “better” entry point. (This obviously holds on the selling end, too.)

 

QUESTION : What good or bad advice do you hear often in life (or trading – or both)

WALTER : Laugh a lot; don’t take things – or yourself — too seriously. Realize everyone has a bad day/streak once in a while. Remember that when someone assures you that “This time is different” it virtually never is; those four words, in fact, are the four costliest words in trading. Understand that “Ours is not to reason why; just correctly sell and buy”; the “whys” materialize after the move, not before, and the money is made on the “what”, not the “why”.

 

QUESTION : We understand that you are an author of several popular books. Can you let share some information on them.

WALTER : ”Deemer on Technical Analysis” in 2012. “The Basic Essentials of Technical Analysis” in 2014, an expansion of the “facts of life” lecture I gave to Putnam’s new analysts to make them understand the key role technical analysis plays in the investment process (a stock is not the same as the company; since you buy stocks, you need to analyze them, and technical analysis is what you use to analyze stocks). “When the Time Comes to Buy, You Won’t Want To” last March, a collection of snappy sayings I first started employing at Putnam to hit the fund managers over the head to make a point; 64 short phrases packing a whole heap of wisdom in a very few words – all of them with deep ramifications that leave the reader with something to really ponder. (You’ve just read some of them!)

 

QUESTION : When you have lost your mojo or focus , what do you do to get back on track?

WALTER : Watch trains and Great Lakes freighters on YouTube via Virtual Railfan and Streamtime Live. Listen to old-time rock’n’roll on reelradio.com. (Marty Zweig, Bob Prechter, Stan Weinstein, John Brooks and I were all old rock’n’roll trivia enthusiasts who had legendary get-togethers at MTA Seminars.)

 

QUESTION : If you could have a big billboard with your favorite saying or message on it, what would it be. Keep it clean as I know you are from New Jersey. LOL

WALTER : “When the time comes to buy, you won’t want to!”

 

QUESTION : Thank you for taking the time for our readers to get to know you. How can our readers contact or follow you on social media?  And feel free to mention any projects or services you like to mention that you are involved with.

WALTER : I maintain an impish presence on Twitter @walterdeemer, where I make “cute” comments and share market observations. (Not predictions, observations; I’m retired and have nothing to sell any more, although I do remind people once in a while that I have books for sale on Amazon. Helps supplement my pension.)

 

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Julia Cordova – Interview

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QUESTION – Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are, where you live, and a little bit about yourself?

JULIA – I’m an extravagant billionaire recluse who creates beautiful charts on parchment with a peacock feather pen.  Nooo! I’m just someone with expensive taste who trades for a living…so I better do well! I live near a mediocre beach with shark-infested water in sunny Florida.  I enjoy spending time with my two wonderful mutts, watching movies and trash TV.

 

QUESTION – What and who got you into trading. Do you currently trade full-time?  And what is up with all of your crazy charts you post on Twitter. There has to be a story behind this?

JULIA – I used to be a corporate executive schmoo at a software company and even though I loved it, my work required me to travel extensively.  Because my mother needs me to care for her I moved to Florida to be close to her. When I saw how well my 401k was doing just because I bought stocks that I personally liked, I started trading as a hobby to keep my mind busy.  Have you ever tried to solve a Rubik’s Cube? That’s how my trading started out. The more I tried to fix it, the more mixed up and confused it got. Anyway, I’m a problem solver. Slowly but surely I figured it out (I may or may not have peeled and rearranged the colored stickers on the cube) and now, yes, I am a profitable full time trader.

I don’t think my charts are that crazy!  I think maybe people think they are crazy because I don’t post sanitized, giftwrapped charts for mass consumption.  Although I do try and explicitly explain my strategies, because I want to help people and I understand that someone seeing them for the first time can be confused because they are ‘different.’  I post on Twitter because I like to be accountable and I do it for me. The charts I post on Twitter are the same ones I use to brainstorm and my symbols are necessary reminders of actions to be taken at important levels.

 

QUESTION – What personal or professional failure/setback have you experienced in your life or professional career that has set you up for later success?

JULIA – I am a Mechanical Engineer by degree and I started out coding software.  I was terrible! The. Worst. Coder. Ever. I got fired because I was so bad.  I don’t think of that as a failure now, but I did at the time. The key for me was finding the things I’m best at, focusing on making myself better at those things and always working to get better at things I’m naturally good at.

 

QUESTION- How would you describe what makes a successful Trader?

JULIA – Someone who can be consistent, persistent, and who can learn from mistakes.  Also, you have to be either a little cuckoo or a robot.

 

QUESTION – What do you feel is the role in having a balance all around life in your day to day activities. What hobbies do you enjoy?

JULIA – I’m such an intense person, balance is difficult for me.  But I try my best! I like hiking with my mutts, making things (art, woodwork, jewelry,…), seeing live music of any kind, dancing, and just hanging out with my friends having a cocktail.

 

QUESTION – What advice would you give to your younger self as it relates to your personal life. What about advice for your younger trading self?

JULIA – Same advice to both:  Cut losers quickly.

 

QUESTION – What good or bad advice do you hear often in life (or trading – or both)

JULIA – Trading advice is annoying because all of it makes sense and yet all of it is contradictory.  Buy low, sell high but ALSO don’t try and pick bottoms and tops? Uhhhh… When I was starting out and would read these things my eyes almost got stuck rolled into the back of my head.  I was so confused. The best advice I’ve heard comes from people who have failed (possibly more than once) and THEN succeeded. So the best advice I’ve heard is that you learn more from failure than success.  Take advantage of that.

 

QUESTION – This is a fun question that you DO NOT have to answer. It is called “Marry, Kill, Sleep With”… In the trading community. Who would you Marry…. Kill ….. and Sleep with…. (no comment to any or all of these are a perfectly acceptable answer. LOL

JULIA – No comment!

 

QUESTION – When you have lost your mojo or focus , what do you do to get back on track?

JULIA – step away.  I walk barefoot on the beach.  I look at the stars. I play with my mutts.  I remember all the reasons I have to be grateful.

 

QUESTION – If you could have a big billboard with your favorite saying or message on it, what would it be.

JULIA – Just be fabulous and glittery.

 

Thank you for taking the time for our readers to get to know you. How can our readers contact or follow you on social media?  And feel free to mention any projects or services you like to mention that you are involved with.

JULIA – You can follow me at @cordovatrades on Twitter and subscribe to my currently barren but soon to be amazingly awesome YouTube channel at youtube.com/c/JuliaCordova

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Scott Melker – Interview

 

ScottMelkerQUESTION – Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are and your background.

SCOTT – I’m a bit of a jack of all trades. I have always had more interests than time – coupled with ADHD, finding things to focus on was always a challenge, because I wanted to do everything. I started playing the piano as a child, was always musically inclined, so a career in that space was a natural fit. I attended the University of Pennsylvania in the late 90s, when the stock market was cruising and they were handing out Wall Street jobs. Although my interest in markets had been sparked in school, I was more interested in music and chose to forego Wall Street to try out my hand at DJ’ing. I DJ’d for 20 long years, traveling the world and living my dreams. I always invested, because I had down time and found markets fascinating, but I became a “full time” trader after my daughter was born and the travel became too much. So I retired from music and shifted primarily to crypto.

 

QUESTION – Do you trade just cryptocurrencies? If so, can you explain the types and what is your trading strategy?

SCOTT – I have traded everything, but anyone who follows me knows that I heavily focus on investing and trade with only a small portion of my capital. So I am heavily invested in legacy markets, real estate etc. I primarily trade crypto now, but have been through every market you can imagine at some point.

My strategy is to move slowly. I don’t like spending a lot of time at the screen and prefer to take positions that require no babysitting. So I dollar cost average into markets as an investor and take longer swing trades that suit my lifestyle.

 

QUESTION – What personal or professional failure/setback have you experienced in your life or professional career that has set you up for later success?

SCOTT – I have failed more times than I would like to admit – as a musician, professionally and more often as a trader. I once went “all in” on a specific stock based on a bad stock tip and lost everything – that was a real eye opening experience, and taught me to take risk management very seriously. As a trader, this was the most important lesson that I ever learned. If you’ve never gone broke, you’ve never truly experienced being a trader.

 

QUESTION – How would you describe what makes a successful crypto trader (versus that of say a stock day trader)?

SCOTT – Most successful crypto traders were actually early investors who held onto Bitcoin and had the foresight to sell around the all time high. Very, very few people have been successful actively trading in this market. I actually wrote an article in Cointelegraph about the particular difficulties of trading the crypto market, which I believe is far more taxing and stressful for a trader than trading equities. For the few who have actually had real success trading, I believe it’s likely that impeccable risk management is the reason. 

 

QUESTION – What do you feel is the role in having a balance all around life in your day to day activities. What hobbies do you enjoy?

SCOTT – The best crypto traders I know spend very little time trading. This is the case for me as well. I can check a chart, see what areas I am interested in, set alarms and go about my day. That said, I have a lot of free time to spend with my wife and kids, to watch sports, go to the gym, play tennis etc. I love being active, do crossfit 5 days a week and am always on the go. The whole purpose of being a trader is to have more free time, not less. Balance is everything. Without it, you become emotionally attached to your trades at the expense of everything else.

 

QUESTION – What advice would you give to your younger self?

SCOTT – Save more, earlier. Don’t waste your money on frivolous items. Spend on experiences, not things, although I largely did this. Start producing music at a younger age!

 

QUESTION – What good or bad advice do you hear often in life?

SCOTT – For markets: bad advice – go “all in” in crypto! I believe in Bitcoin and this market, but it’s extremely risky. Anyone who is telling you otherwise has something to sell. You should never go all in on anything, especially not an asset that carries this much risk. Good advice – diversify your investments, move slowly. Get your money in the market early and often and don’t touch it. 

In life, the best advice I can offer is to be grateful for everything that you have. Maintaining a positive mental state while being appreciative is the key to long term happiness.

 

QUESTION – If you had to give a book or books as a gift to someone,  What would you recommend & why?

SCOTT – This answer would be different during every phase of my life. As a younger man, I fancied myself an objectivist so I would say The Fountainhead was my favorite. I’m a complete nerd, so The Lord Of The Rings was my favorite as a kid, and A Song Of Ice And Fire as an adult. I have sent a few books to people in my adult life, A Letter To A Christian Nation being the one shared most often. I’m an atheist, so there’s good reason I chose that one. The Shock Doctrine is another favorite to share. 

 

QUESTION – When you have lost your mojo or focus , what do you do to get back on track?

SCOTT – from whatever I have lost my mojo on, go do something different and come back to it when I’m fresh. As a musician, I sometimes had creative block for days or weeks at a time. Nothing you can do but be patient and focus on other things.

In trading, it’s essential to step away from the charts if you feel you are pushing or getting emotional. You will lose money fast if you are not in the right mindset when you trade.

 

QUESTION – If you could have a big billboard with your favorite saying or message on it, what would it be?

SCOTT – For markets, the answer is definitely this Einstein quote. “Compound interest is the 8th wonder of the world.  He who understands it, earns it; he who doesn’t, pays it.” 

 

Thank you for taking the time for our readers to get to know you. How can our readers contact or follow you on social media?

I am @scottmelker on twitter, which is primarily where you can find me. You can also join the TexasWest Capital Discord discord.gg/kyKvrNg.

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Anthony “@AllDaya_” – Interview

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QUESTION – Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are and your background.

ANTHONY Hey everyone! Thanks for taking the time to reach out and being interested in asking me some questions regarding trading and my back story! First off, My name is Anthony, but most people in the trading realm know me as AllDay, you can find me at @ALLDAYA_ on twitter, instagram and youtube. I was born and raised in NJ not too far from NYC which hopefully helps out some people in understanding why I’m so brash with answering questions or my somewhat attitude towards everything. We call it tough love out here. I had an average upbringing, nothing crazy at all, my grandparents came here from a small town Italy and essentially drilled hard work into all their grandkids heads. My pop, as i would call him, always talked about stocks and how my one of my cousin’s worked on Wall Street. He passed away when I was young but I never forgot the message that was brought to me. School came easy, as well as athletics, so i learned discipline through sports, and just never stopped learning. Once I obtained my Economics degree, I started to learn how to trade stocks and invest but that was not my main focus and goal, my first thought was to train and maybe join the Navy in hopes to become a SEAL, big dreams yes, but just never advanced in that process, I trained myself hard but always had this “injury bug” where I always seemed to get injured whenever I pushed it. My second goal, was to become an US Air Marshal or some type of law enforcement officer, I passed every test I have ever taken but for whatever reason I was NEVER selected into a process. Imagine getting the letter over and over that your were not selected after grueling months of waiting, test taking, interviews, etc. So trading was always there for me in the meantime while everything else was just a waste of my time and BS. So I turned everything around and partnered up with another trader and now we are running our own accounts in an office looking to build something huge in the future. So shout out to everyone who denied my opportunity! My goal is to just make their salary everyday!

 

QUESTION – What and who got you into trading. Do you currently trade full time, If yes, how long, do you trade your own money or for others, etc ?

ANTHONY – At my school, when you are an Economics major or Finance major, you had the opportunity to take an investing course where they gave you a paper account to play with for the length of the course which was really cool. I believe that was my first experience of actually placing a trade. While in college my friend and I were always looking into trading and at the time there wasn’t too much information but fortunately one of my buddies friends owned a prop firm near us so we went there and were exposed to even more information. We didn’t learn much from the actual firm since they were just trying to rob us of 10k each (capital contribution) but the fact they exposed us to real life trading helped me out looking into trading more. To remind everyone I graduated high school in 2009, so my college tenure was basically the hardest time to find a job, internship, unless you were becoming a teacher, nurse, etc. So when we all graduated I knew I was either becoming a cop or had to create something. So trading was the route that chose me.

I have been trading for 5 years now, I am trading full time with a partner of mine to create something special in the next few months/year so keep an eye out for that. We are trading our own Capital at this time as we are not licensed. BUT, maybe in the future we will obtain licenses and get a fund ready to go!

 

QUESTION – What personal or professional failure/setback have you experienced in your life or professional career that has set you up for later success?

ANTHONY – I mean, not being selected by any of these LEO departments when I was in my early 20s absolutely sucked. No one ever gave a reason, they just send a letter saying “sorry you were not selected.” But to be honest F them, F that, they just set me up to be one badass trader that hopefully goes above and beyond helping people more than I ever could with a badge. Trading wise, as we all know, ups and downs happen, draw downs suck, but if you can’t handle a draw down then quit now. If you can’t handle being denied from a job then don’t trade, if you can’t handle a break up, don’t trade. Trading is not something to mess with if you are an emotional wreck that can’t handle a little adversity. But if you can handle the most grueling mental challenges in life then you might be cut out for this stuff. If not, here is your warning.

 

QUESTION– How would you describe what makes a successful Trader – keeping in mind that it has been reported that 90% of traders fail.

ANTHONY – Success is the accomplishment of an aim or purpose, so if you wanna be a trader your aim or purpose is to make money. If you don’t make money you’re not successful, if you make money you’re successful. It’s black and white for me. I think the 90% quote is over played, 90% of people fail to last more than 3 months at selling cars, is selling cars hard? Nah, people are just FFFFFing lazy and want everything handed to them. Trading is the worst job for lazy people, actually learning and trading though, most people they think they can go out buy a freakin laptop, a computer chair, and be the next online GURU! LOL! GTFO!

 

QUESTION – What do you feel is the role in having a balance all around life in your day to day activities. What hobbies do you enjoy?

ANTHONY – Eat, Sleep, Trade, Repeat. Other than that, I really don’t have much going on. I lift weights everyday, I watch sports, and I try to keep myself sane.

 

QUESTION – What advice would you give to your younger self as it relates to your personal life. What about advice for your younger trading self?

ANTHONY – Probably take that job out of school. I was offered a job at a bank in Austin Texas,  for shit pay and at the time i was like “Ew Texas?” But then I went to Austin this year and was pretty stunned at how hard they party on 6th street. Only because trading for me was a total sacrifice of time and money. If i had a job at first it would have been an easier process. You’re not profitable right away, the only reason why I was fine my first year was because of the weed stock OTC market and getting lucky on them swings, that gave me enough time to learn for the next year. I tell all younger traders who hit me up to “full time trade” to get a job first, don’t start off full time, it’s worse than being unemployed because you’re going to lose money.

 

QUESTION – What good or bad advice do you hear often in life (or trading – or both)

ANTHONY –. ha! The bitcoiners killed me inside on that parabolic run up. Some of the worst advice ever was going on around that time, the James Altuchers of the world are all hiding now after predicting “one million by 2020.” These online personalities giving advice are all BS. But the “bitcoin to one million” was the worst advice I ever witnessed. I see bad advice given all the time, especially to the poor people who follow certain stock pump chat rooms, like why TF are you following a guy go into a thin stock with light volume only to get sold on, after once or twice you should be able to see the trend! I just feel bad for the common guy trying to make a dollar, most of them get scammed into thinking these gurus are here to help, yet these online gurus are just taking money and making false promises. My advice for any new traders reading this, do it my way, block everyone out, learn by yourself and teach yourself how, following someone will only get yourself hurt in this game. Stop following the stupid youtube videos with clickbait titles of “HOW I TURNED 1 DOLLAR INTO 4.2 MILLION IN 6MONTHS.” Its BS, it’s nonsense, quit being a dumbass and learn the right way, it takes time, trust me. If you need a guide there are some people out there that can help, you can message me on IG or twitter and ask me where, but you are never going to learn joining a damn chatroom and trying to follow anyone, even me, you can learn off of me like little things I do, but following me blindly wont help you. Chat rooms should be used for idea purposes only, where they are great so you don’t miss action.

 

QUESTION – If you had to give a book or books as a gift to someone,  What would you recommend and & why?

ANTHONY – I have never read a book on trading. Some of these authors are worse than the twitter trading gurus. If i have to question if you ever made a real trade before I won’t buy any products. Most authors I gotta question them, so i refuse to read anything. All I see are quotes about life and not trades from these authors, but if anyone is out there that wants to show me a book that has legit trades in it with explanations, I’m all ears.

 

QUESTION – When you have lost your mojo or focus , what do you do to get back on track?

ANTHONY – I have never lost focus on my main goal. Im a hungry and determined person, a different breed. But the periods of trading when I suck, I take some days off, refocus, and don’t touch any setups unless they are perfect. Just gotta have the understanding of when things work and when they don’t work.

 

QUESTION – If you could have a big billboard with your favorite saying or message on it, what would it be. Keep it clean as I know you are from New Jersey. LOL.

ANTHONY – Tom Brady is the GOAT.

 

Thank you for taking the time for our readers to get to know you. How can our readers contact or follow you on social media?

ANTHONY – If you guys wanna reach out to me or follow me I just launched my twitter again

@Alldaya_ and instagram @Alldaya_ , my youtube account is also brand new you can follow me on that at youtube.com/Alldaya . I post a lot of trades and what I do on my instagram. Feel free to message me whenever. Thanks. 

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Sam McCallum founder of Honeystocks.com – Interview

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QUESTION – Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are, what you do, where you live.

SAM – I’m Sam McCallum, the founder of Honeystocks.com which is a company that provides Technical Charting Research to both retail Investors and professional money managers.
We also provide Technical Analysis & Options mentoring programs and I run the Technical side of things, and I’ve recently brought on Sean McLaughlin to fill the gap I have for Options mentoring within my client group, and I could not be happier with the structure and how things have started.
I’m also currently working toward my CMT designation and I’m a massive geek when it comes to anything related to the art of Technical Analysis.

 

QUESTION – Any additional information on yourself you like to share before moving on to more questions

SAM – I’m also currently working toward my CMT designation and I’m a massive geek when it comes to anything related to the art of Technical Analysis.
I have complete belief in the art of minimalism and de-cluttering the Technical side to make better informed investment decisions and making sure I filter out what’s irrelevant to the chart. I think that’s why the abundance of free content I put out to the world is received so well and very easily understood.
In my past life, I’ve consulted for the likes of Deloitte and Lloyds Bank, and have a very professional risk-based background within the world of Finance which has fortunately allowed me to travel the world and see some pretty cool stuff. I’ve been involved in Finance in one way or another for 15 years and I currently reside just outside Edinburgh, Scotland.

 

QUESTION – What may I ask got you into trading?

SAM – What got me into Trading? I’ve always had a massive interest in the Markets, but back in 2008 I seen 1st hand the devastation a recession and bear market caused to my colleagues (who had families). It also had a negative effect on my own 401k, and at that time, my career was forced to take a break due to the layoffs within the bank I was working for, so naturally I seen the value of any investments I had drop.I had lost my job and I said to myself I’d never invest in the market, because it was just too risky and the stress was too much.
Fast forward a few years, and I started dabbling here and there and picked up this little thing called “day-trading” and thought, ahhhhh this is easy, I’ll just buy this here and sell it here, what could be easier right? Nope, I messed things up and blown a few accounts over the course of around 3 years. I then started to get involved within Meetup Groups (which I’d HIGHLY recommend everyone seek out if you’re in an area that has a good community) as I was fortunate enough to meet some very successful private investors in London, and from there I learned the art of Trend Following and everything changed. Not everyone needs to pay for an education, because I didn’t.

I’ve been self sufficient for 3 years now and made the decision to move into Charting Research / Mentoring seriously around 18 months ago due to the requests I was receiving via my social media platforms… and things have grown organically from there and now I network with some of the world’s top Technical talents, which allowed me to bring in a name like Sean McLaughlin.

 

QUESTION – What failure in life later set you up for success?

SAM- Easy… I went into a meeting when I was at Deloitte that over-ran by around an hour, by which point, I had been trading with a LOT of leverage on a Brent Oil position, I had no stop loss in place and walked out that meeting to a £4k loss (which erased a lot of profit that I’d built up).
At that time, it was a HUGE amount of money for me to lose, and I was physically sick and had that holy shit moment, that most of us have had, where I either had to change things or give up.
I chose to find help.

 

QUESTION- What makes a successful trader in your opinion

SAM – This might be the point where I could give a generic answer and say things like “learn from your mistakes” or “find a mentor” or “work on your mindset” but I’m not going to do that.
Instead, I’m going to just give my brutally honest take, and this is something that I see with a lot of individuals that approach me.
The one thing every losing trader lacks………. Risk Management Discipline.
Discipline and having complete and utter respect for your risk management strategy is absolutely the number 1 priority with any investment decision.
Forget Technical Strategy, forget Fundamental Strategy… Risk is key.
If you have no understanding of the core concepts of Risk Management & Allocation, you’re as good as dead playing against Wall Street.
I also see many Day Trading “gurus” advocate tight stop losses and finding entries on 5 minute charts… I understand a very small % can do it well, but I’d also highly encourage zooming out to Daily & Weekly timeframes, it’s something that completely changed my view on Technical Analysis.
Who wants to read one chapter, when you can read the whole book right?

 

QUESTION – How important is having a balance life and how do you acheive it?

SAM – I think it’s somewhat important. I mean, I’m one of those guys who loves Technical Analysis, I love deconstructing charts, and being able to present a thesis… it’s my purpose and I get a lot of my fulfilment from that and to be happy, all I need is my laptop. (which some reading might find a bit sad)… but I’m happy, that’s what matters.
I also love travelling, I’m up to 50+ countries I think at this point now, and if anyone reading this loves to travel… my top 3.
** Galapagos Islands
** Vietnam
** Croatia
Like everyone, I enjoy the gym, triathlon training and as I’m Scottish, we’re well known for our love of whiskey… something I’m not shy on enjoying when the winter kicks in and I get the fireplace going.

 

QUESTION  – What advice would you give your younger self?

SAM – In a personal sense, I would want to tell myself to not waste my early adult years getting blindingly drunk every weekend, and while I look back on a lot of fun nights, it just wasn’t productive, and I might have preferred to focus on things like health and fitness… yes… I know it sounds boring, but as you get a little older, those become important.
In a Trading sense I don’t know if I would have done anything differently. We’ve all had to go through our own personal car crash to arrive at our destination, and we’ll all continue to have mini car crashes along the way, but the difference for me now, those mini bumps represent a small % of the overall capital which keep me in the game much longer than those that throw the Hail Mary’s.

 

QUESTION – What outside good advice or bad advice do you often hear and what are some of your favorite book(s)

SAM – You can be anything you want to be… no you can’t.
You can be anything that your abilities allow you to be. It’s always been a saying that’s irked me a little.
Good book? Principals by Ray Dalio. An exceptionally well thought out approach to living life with principals… and it happens to be written by one of the world’s best Investors. Highly recommend.

THANK YOU Sam for taking time out of your busy day. Our readers can contact Sam at the site below.
Technical Research Analysis https://www.honeystocks.com/analysis
Twitter https://twitter.com/honeystocks1
Stocktwitshttps://stocktwits.com/Honeystocks

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David CEO Sports Predictor – Interview

SPORTSPREDICTOR-BALLS-LOGO

QUESTION – Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are and your background.

David – I’m the founder and CEO of an Australian sports handicapping site that’s been operating since 2006. We are the market-leading subscription site for professional bettors to publish their plays.

In August of this year we launched Sports Predictor for the US sports betting market. We’ve recruited a select group of professional handicappers and expert bettors focusing on football, basketball, baseball, hockey and PGA golf picks. It’s a very similar business model to what has worked for us for more than a decade – picks that win, experts who educate and staff who help clients get the most out of their memberships.

 

QUESTION – What and who got you into the prediction analysis industry. Specifically as it relates to your company Sports Predictor and how do you feel it has synergy with the trading industry?

David – I’ve always loved both sports and betting so combining the two was a dream come true. Find something you’re really passionate about and you’ll never have to ‘work’ another day in your life.

The parallels to trading are very strong and include
Value – you have to consistently be making bets/trades at value odds by identifying factors that the market undervalues. Reality – Perception = Profits.
Risk management – developing a trading plan is crucial so that you can survive losing runs while thriving during the good times.
Discipline – you simply can’t survive without it.

 

QUESTION – What personal or professional failure/setback have you experienced in your life or professional career that has set you up for later success?

David – Going bust was a good one! Every bettor blows up their bankroll at some stage during their ‘apprenticeship’ and as a young man I was no different. When you’re first starting out you’re inevitably betting too high a percentage of your bank on each bet. You just don’t know it yet. So you’re up against the math and the math remains undefeated.

On top of that you have emotions that can get the better of you during losing runs. As Mike Tyson famously said – “Everyone’s got a plan. Until they get hit in the mouth”. Smart bettors know how they will deal with a losing run before it occurs. That way when it does happen you’re fully prepared. This preparation and mindset is the only way you will be able to maintain discipline during the adrenaline rush of sports betting.

Managing your emotions during winning runs is also crucial. Betting psychology is the largest distinction between amateur and professional sports bettors.

Wiser heads can recommend you bet small and stay focused but everyone I know has had to learn those lessons the hard way. Experience is the best teacher and there’s nothing like going through that yourself for it to really hit home.

A veteran professional bettor I know has seen all kinds of guys go bust over the years despite having an overall approach that is profitable. He’s more of a grinder and has lost count of the number of other professionals that he has outlasted. After two decades in the business he has a simple saying that sums up his own approach nicely – “Never be embarrassed by how small you bet.”

He makes a very comfortable living and decided a long time ago that an aggressive approach wasn’t for him.

Legenday sports bettor Billy Walters went broke a number of times early in his career and learned his lessons the hard way.

“I know what every sucker thinks, because I used to be one. I can assure you that every successful gambler I know has been through some monumental failures on his way to getting there.”

 

QUESTION– How would you describe what makes a successful sports bettor. And how do you deal with the sometimes negative image that sports handicapping services tend to have. And what makes you different?

David – No two professional bettors are the same yet all share similar characteristics –
Incredibly hard-working.
Never stop learning.
Respect every dollar.
Bet numbers not teams.
Maintain a long-term mindset whilst consistently refining their approach.
Always shop around for the best available odds.

The negative image of sports handicapping services is pervasive and unfortunately I’d have to say is well deserved. But we’ll be doing our bit to change that perception and all of our team abide by our industry-first Code Of Conduct:

1. Skin in the game
We never release any play unless we’re also betting them with our own money. Believe it or not, there are many cappers at other websites who handicap games but don’t actually bet those same plays. We never release plays unless they meet our strict criteria for value and we don’t dramatically increase our bet units based on previous results.

2. Full transparency
Every pick of every handicapper is published on our website so clients and casual visitors can monitor everyone’s performance.

3. Ongoing education
Our team consistently produces betting previews, advice and strategies to help bettors of various experience levels increase their betting knowledge. We’re here to help educate sports bettors as well as consistently providing profitable investment advice.

Each of those three points probably sound like common sense. But the thing is you can count on one hand the number of handicapping services that tick all those boxes. Our guys bet their own money, publish results, educate bettors, and stick to proven bankroll management strategies. There’s no doubt that this combination gives us a real point of difference.

 

QUESTION : What do you feel is the role in having a balance all around life in your day to day activities. What hobbies do you enjoy?

David – Work/life balance is hard to achieve in the 24/7 always-on world that we live in. I still really enjoy watching games but you also have to keep in mind that ‘the sweat’ will never impact the result. Once the bet is on the rest is out of your hands. So trying to take the emotion out of it helps reduce the rollercoaster ride but at the same time you still want to enjoy a lot of the games.

As far as hobbies go, the gym is great for both physical and mental health. This is a very sedentary lifestyle so staying active and eating well are essential. Other than that – I don’t watch a lot of non-sports TV but have to say that there are a couple of shows I never miss. Billions and Succession are just fantastic.

 

QUESTION – What advice would you give to your younger self?

David – Believe in what you do because you may have to do it for a long time before anyone else catches on.
Have the courage to be a contrarian.
Try and have the longest view in the room.

 

QUESTION – What good or bad advice do you hear often in life?

David – Good advice, It’s only a mistake if you don’t learn something from it.
Good things come to those whose persistence demands it.
Get uncomfortable – the really good stuff happens out of your comfort zone.
Nothing fails like success – don’t get complacent.

Bad advice, Gotta love the Martingale strategy!
Every smart person should go to college
(Good advice – Formal education can make you a living but self education can make you a fortune.)

 

QUESTION – If you had to give a book or books as a gift to someone, What would you recommend & why?

David – There are a few actually –
The Success Equation – excellent discussion on differentiating skill and luck which are two things many of us conflate.
The Checklist Manifesto – good ‘how to’ on breaking down complex tasks into a simple system.
Principles – outside the box thinking from “the Steve Jobs of investing”.
The Logic Of Sports Betting – fantastic resource for sports bettors of all levels.

 

QUESTION – When you have lost your mojo or focus, what do you do to get back on track?

David – There are a few things actually –
(1) Understand that losing runs happen. They are literally unavoidable so while you should confront the brutal facts and refine your approach over time, you should never lose faith.
(2) Look at long-term results to reaffirm just how tiny one game, one day or even one week really is.
(3) Take a day off and hang out with my daughters as they very quickly remind me there’s more to life than just sports betting.

 

QUESTION – If you could have a big billboard with your favorite saying or message on it, what would it be.

You don’t have to be smarter than anyone else, you just have to outlearn them.

 

Thank you for taking the time for our readers to get to know you. How can our readers contact or follow you on social media?

David – Check out https://www.sportspredictor.com/ and follow us on Twitter@PredictorHQ

We’d love to hear from you!

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Scott San Emeterio – BallStreet Trading CEO – Interview

343D5393-AB10-412A-B3E5-1671E4A56375QUESTION – Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are, what you do, where you live and what exactly is BallStreet Trading and how it has very good synergy with the trading industry?

SCOTT – Really excited to be able to get introduced to your audience. My name is Scott San Emeterio and I am the CEO and Founder of BallStreet Trading. I live in New York, New York and have spent the last 15 years in Investment Banking, specifically in fixed income trading at Credit Suisse specializing in MBS.

BallStreet is a free-to-play real-time prediction market that lets traders compete against each other as they watch any live event. What we’ve done is create a live market which lets everyone buy and sell shares of teams based on win probability. Our markets trade from 0 to 100 during the game. At the end of the game the shares of the winning team will value at 100 and the shares of the losing team will value at 0, so like a binary option. The goal is simple, create the best trading P&L during the game.

The synergy we’ve created is taking the best of sports and the best of trading and bringing them together. Who hasn’t thought about trading a live game? For anyone who loves sports and trading BallStreet should be a great addition to any game.

 

QUESTION – Why should traders consider joining BallStreet Trading and what does a typical member look like that they would be competing against. Now is a good time to introduce this unique marriage of trading and sports to the social media masses

SCOTT – I think sports, sports betting and trading are worlds that are begging to be brought together. Traders who love sports should really enjoy the platform. We’ve gone our of our way to take the best of trading and remove all of the potential distractions that come with trading markets to really simplify the experience. Our approach is more of a video game and not your typical trading software which leads itself to be more Xbox than Bloomberg. Our priority is to make the market entertaining.

Our traders range from professionals who trade everything from derivatives to commodities to college students who are looking to try out the newest sports app. The markets and our pricing of team shares is driven solely from our traders as they compete against each other and prove their ability to predict and trade the game flow. There is no hiding in our markets, everyone has the same information and ability to buy and sell in real-time.

 

QUESTION – Shifting away for a second from your company. What failure or setback in trading have you experienced that has set you up for latter success? I understand you do have a background in Investment banking?

SCOTT – I spent the last 15 years in investment banking with the last 13 at Credit Suisse working primarily in fixed income. I started at CS in 2005 working in MBS and spent 2007-2010 working on their Sub Prime desk, so the perspective I was given with a front row seat during the crisis is something that has stayed with me.

Those days had a little bit of everything from Credit Suisse’s $3B write down to TARP, Lehman and Bear, I was there watching this all play out in the markets everyday. Looking back you get both the experience of what that time taught you but also the perspective of the destruction the crisis caused on so many levels.

To be that close to the chaos and watch what it did to both my career and countless other people’s careers was a major driving force in exploring options away from financial services and ultimately BallStreet.

 

QUESTION – Outside of trading and sports, what strange or unusual habits do you have and enjoy? What are your goals if any both in life and for BallStreet Trading (future IPO, etc)

SCOTT – I spent a good 3-4 years playing online poker almost everyday back during the boom in the early 2000s which definitely helped create the blue print for BallStreet. Living in New York I don’t get to play as much as I used to but still get to play in a couple home games and city clubs when I can. My wife and I just had our first child in July so with everything going on poker doesn’t get to the top of the list too often anymore.

As far as the goals for BallStreet, right now the focus is directly on scaling our user base and introducing it to as many potential traders as we can. We are building a platform that will look to engage and entertain sports fans on a different level and leverage it as a marketing tool that will bring fans and viewers into the ad model. Brands spend billions of dollars to get exposure during live events and broadcasts but the fans don’t see any of it. We’ve created a system that invites brands to engage fans during these live events in real-time but also welcomes fans to be a part of the process by using the ad spend as the prize pool. It’s a system were everyone wins.

If we can accomplish developing a unique market experience and leverage it as a marketing platform I think for us sky is the limit and anything is possible, even an IPO.

Ideally over the next year we can scale and attract investors who share our vision for the platform and can look to make us a national brand and eventually build out our real money business model. Imagine traders paying a $100 entry fee and if their P&L is inside the top 20% they win $500. All from trading sports.

Once we pull that off, if you need me you can find me on a vineyard in Portugal or Spain.

 

QUESTION- What is one trait that you are currently working on in personally improving in yourself?

SCOTT – I’m definitely a big picture and idea person. Everyday I try to focus more on specific tasks and really look at the details of what drives my decision process and how I can get better at spending the appropriate amount of time to consider all possible angles and outcomes. Sometimes I can get caught up on getting to the next task without giving an issue the attention it deserves.

 

QUESTION – What advice would you give to your younger self? (as we have many young adult viewers of these interviews)

SCOTT – Other than stay out of MBS? I would have to say that everything you do today will ultimately drive how your future is formed. Take the opportunity when you are young to leverage the time you have to make as many good decisions as you can because they all add up over time. It doesn’t matter how small, just make good decisions and they will lead you where you want to be.

Another key to the psychology of the trading world is that most of us are here to make money. It’s not a surprise and people should own that. The concept of money is something I wish I could go back and give myself some advice on. Money’s true value isn’t material. Money’s true value is in the freedom it can afford you when you can buy your own time.

 

QUESTION – What good & bad advice do you hear often in trading, sports betting AND life?

SCOTT – I think here are so many parallels across them all and the best advice is usually the most simple, just be disciplined. The more disciplined you are the better you can expect your outcomes. Be disciplined; have a plan, have a bankroll management system and a clear and defined goal.

As far as bad advice…don’t bet baseball because you’re a Yankee fan. Just because you’re a sports fan doesn’t mean you should be betting sports! The two have little if anything to do which each other. It’s the same with markets, don’t buy Apple because of some news you heard on twitter, there are so many factors in play in the market. Understand them and have a plan when making decisions.

 

QUESTION – What are your favorite books to read and why?

SCOTT – I love books that I can learn from. I just got finished reading David Meltzer’s “Game Time Decision Making” and thought he did a great job outlining how people should be approaching life and business using sports metaphors to really articulate the points he was trying to make.

 

QUESTION – When you have lost your mojo or focus , what do you do to get back on track?

SCOTT – I have admittedly been trying to be more mindful and bring meditation into my life. It’s not always easy to find the time to build new routines and it’s something I am definitely trying to do but admit haven’t been able to do as much as I would like.

 

QUESTION  – If you could have a big billboard with your favorite saying or message on it, what would it be.

SCOTT – Stay far from timid, only make moves when your heart’s in it, and live the phrase ‘sky’s the limit’ – Notorious B.I.G

 

QUESTION – Thank you for taking the time for our readers to get to know you. Is there anything else you like to say or even promote?  How can our readers contact you on social media.

SCOTT – We just really appreciate the opportunity to introduce BallStreet to genuine and traders. For anyone looking to learn more about the platform and our vision to help create real-time markets for any live event they can reach us via:

Home Page: https://www.ballstreettrading.com

Direct to App; https://a.ballst.co/btt

Twitter: @ballstreetapp

My Personal Twitter: @ballstreetceo

Would love to hear from everybody and am happy to answer any questions about finance, investment banking, trading, BallStreet or start up life.

For anyone trading on the exchange we would be beyond appreciative to hear feedback both good and bad. Our goal is to continue to update and upgrade the app every chance we get and the opinions of actual traders are the foundation we hope to build off of.

Thanks again for the time to talk, I really do appreciate it.

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Lukas “TheShortBear” – Interview

56966C4F-23BC-4A0A-90A8-B4E842A7D7CDQUESTION – Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are, what you do, where you live and what trade room and where you can be found everyday.

LUKAS – Of course, my name is Lukas aka “TheShortBear” and I am a Daytrader from Germany.

Over the years my strategies and trading changed a lot from a purely technical trader to a more fundamentally based approach.

Over 95% of my trades are on the short side as my primary strategy focuses a lot on dilution and the fundamental state of a company.

Nowadays I am a full time Daytrader and moderator at MadazMoney where I share my approach through text, live audio and video sessions as well as through a complete video library exclusively available for members every single day of the week.

 

QUESTION – Do you trade full time as you are relatively young (may we ask your age). What pro’s and con’s are you finding trading fulltime at such a young age.

LUKAS – Yes, indeed I am a full time Daytrader nowadays. I started trading when I was 13 years old back in 2013. In contrary to other countries the German time zone is very indulgent as the market opens at 3:30pm which allowed me to be able to sit in front of the markets all these years. It may seem as if starting to trade as such a young age might be a negative thing, but it was the best thing I could have done and one of the best decisions I ever made in my entire life. The biggest benefit has to be the mental side. The older you get the harder it gets to learn new principles.(think of it as learning a new language). I grew up trading, making the typical mistakes, I have gone through the blow ups and sleepless nights, but being able to absorb as much new knowledge and understand the mistakes I made helped tremendously.

Otherwise time is a big benefit. When I started studying the markets I studied for 10 hours per day every single day of the week, I was hooked. From the point I came back from school to bed time I was sitting at the desk learning. The last big benefit is the financial side, though you don’t have much capital to start trading with you are usually taken care of regarding the financial side. if you don’t make money in the markets you will still get food on the table or have a bedroom to sleep in. Having that problem lifted off my shoulders and its importance is something I did not realize at the time. The only negative point I can think of is that you need an adult to open your trading account. Not every parent is supportive regarding trading and as the markets stereotypes continue to be present in the society it might be an issue for some young traders out there. My opinion is this, if you can, start learning right away, no matter your age you would have wished you had started earlier like I would have rather started when I was 8 years old!

 

QUESTION – What failure or setback in trading have you experienced that has set you up for latter success?

LUKAS – The ironic thing about trading is the more something hurts, the more you learn. Back in 2013- 2014 I blew up multiple accounts. Those were not major accounts and below 4000$, but let me tell you something, for a young kid this kind of money is everything I had. Every blowup had a clear reason! The main points and mistakes I made were: Thinking it would be as easy, oversizing, not having data or a proven strategy, risk management and revenge trading (emotions). Having those experiences is the best thing that could have happened to me because it led to the making of new rules that are the ground pillars of my trading. Early mistakes feel the worst but help you the most even if you don’t realize it at first. Mistakes and even blowups are part of the journey, so don’t give up because the very pain you gave up because of, might make your success as a trader!

 

QUESTION – Outside of trading, what strange or unusual habit do you have and enjoy? We see you have a strong twitter following. What are your goals if any, for your Twitter account?

LUKAS – As strange as it might sound there are not many things in my life that have nothing to do with trading because there is nothing I enjoy more. I built my life around trading and it helps tremendously! Usually every weekend I work on projects with fellow traders for a minimum of 10 hours per day. I also go to the gym every single day which helps me with my mind-body connection and my discipline right after I create content for the chat members. The only three things I do on a regular basis when I am not trading are cooking, going out to eat every third day and going out to the city on Saturday nights. I wake up every single day with a big smile on my face because I am able to make a good living while doing exactly what I want with the traders and friends I enjoy being around, so i don’t really have or need a lot of habits that don’t involve trading!

At first I created my twitter account to learn . Many traders, even if unintentionally helped me when I was a beginner trader and I didn’t know what I was doing. Sometimes they were hard with me but it is what I needed. In this spirit I continued posting my thoughts on twitter. I believe in giving back and giving before receiving. I wouldn’t be where I am without some traders I met on twitter and I feel like giving back not only saves a lot of traders by learning about the trading reality and not getting suckered in by sales pitches. The plan going forward will be to able to share even more of my knowledge which is why I joined MadazMoney as a moderator! It gives traders a strong and safe platform to learn about trading!

 

QUESTION– How would you describe your trading style? How has it evolved over time?

LUKAS – I would describe myself as a 95% short bias trader, basing my trading and trading thesis around fundamental analysis and executing the idea with technical analysis. Most traders seem to feel like you need to either be a fundamental or a technical trader. I just take the best out of both worlds and put all odds on my side! My trading is based around one thing, DATA! Every decision I make is based on data. it does not matter if I am looking at the fundamentals or the technicals, I need to know how likely the trade idea I have is going to work. No matter if I enter, add, take profits or stop out I am always looking at the data which tells me what to do. Nothing is left to luck, trading is a business!

The main aspect that changed is my fundamental approach, when I first started you could not find one thing about fundamentals. I learned through hard work and learned about it one small piece at a time like a giant puzzle that since, allows me to see the whole picture.

The second aspect is automation. Most of my trading be it tracking, my trading indicators to my data points are coded into my charting platform which allows me to visualize my trading. Every big project I have completed has been coded by my friend @scriptstotrade which helped me not only save time but also to be more precise.

 

QUESTION : Your screen name suggests either you like the Chicago Bears football team, or you like to short stocks. Can you explain the evolution of “Short Bear”?

LUKAS – I chose the name “TheShortBear” for a few reasons. The first reason is that I am a short bias trader. As previously stated I am short 95% of the time which meant I had to choose a name that represented what and who I am. The second reason is pretty ironic. I am 2.02m (6.6 foot) which made the name even more appealing and ironic. I enjoy seeing people look up and wonder why I chose this name. it makes for a great conversation.

 

QUESTION – What advice would you give other young adults looking to get into trading. As statistics show that most will fail and lose money at it.

LUKAS – Successful traders are only the traders that never gave up! Trading is hard, it is probably one of the most difficult things I had to master in my life, still to this day I continuously learn and evolve as a trader. You will make mistakes and you will probably blow up before eventually finding success. See the early mistakes and blowup as tuition. Knowing that should help with trading on the mental side. DO NOT start out with everything you have, only play with what you can lose! Otherwise there is one thing that helps and I mean helps more than anything else. This thing is „DATA“! Data not only minimizes your losses and maximizes your winners, but it also allows you to have mental and emotional control at all times. Track your strategy, track your trading and every aspect if it is quantifiable. It turned my whole trading around.

 

QUESTION – What good & bad advice do you hear often in trading AND life?
In my opinion there are a few misconceptions in life as well as in trading that are either stated wrong or plain and simple wrong.

LUKAS – The first thing is “Green is green” or “Green is always good”. Let me explain the issue with a simple math equation. If you close your gains for a 100$ win because you are afraid of giving it back but always let your losers run and close your trade for -1000$ every time you would need a 90% win rate with a 1/1 risk ratio just to breakeven! Green is not always good, it may feel better, but we all know how emotional traders end up! I would rather have a planned loss than an unplanned winner!

Another thing is the rush of trading, I hear a lot about the trading rush and the need for adrenaline in trading. let me tell you if you feel anything you have either no plan and data or you sized up too big! Trading needs to be as emotionless as possible, data, plan, execution and out, the odds will do the rest.

There are a lot of trading stereotypes but the biggest one must be the involved risk. we all probably heard something like „are you sure? Trading is gambling, get a real job“. This is something I had to deal with as a beginning trader and I still hear it to this day. While employees are only employed as long as their employer needs them, my employer, the market, will still be here tomorrow, a week, a year. Trading is not gambling, when I am trading I am the house. I trade my edge and take the gamblers money. Successful traders are focused on the numbers and don’t let luck navigate them through life, at least I don’t. It always amazes me when I have a complete plan from these next hours to years and decades ahead but the very people saying I am gambling follow what they have learned through the society they live in without questioning the sense.

 

QUESTION – What are your favorite books to read and why?

LUKAS – There are a lot of books I read over the years, but let me tell you which ones really resonated with me:

Trading mindset and process: “Reminiscences of a Stock Operator“
Trading technical analysis: “Technical Analysis of the Financial Markets” by John J. Murphy Trading fundamentals: “Security Analysis: Sixth Edition“ (for big caps)
Trading psychology:
“The Psychology of Trading: Tools and Techniques for Minding the Markets“
“The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist“ “Trading in the Zone – by Mark Douglas“
All around psychology/biography: Market Wizards(all of them)

 

QUESTION – When you have lost your mojo or focus, what do you do to get back on track?

LUKAS – Every time I feel like I am losing my edge, focus, take a bigger loss or I don’t feel good because of any giving reason I always do the same things.
First I size down drastically, at that point it is not about making a lot of money but it is about protecting my account and being ready for when either the market picks up again or I am back mentally or/and physically. After and while sizing down I track my trading even more carefully as well as the market. If my performance, my business takes a hit I need to know if it is because I do not respect my plan and strategies, if it is the market or if it is something completely different. Once I feel like I consistent and fully back I will start to size up again until I am back at my full size.

 

QUESTION – If you could have a big billboard with your favorite saying or message on it, what would it be?

LUKAS – “Data, data, data!”
“Never give up, you have one life, don’t waste it” “Carpe diem, seize the day”

 

QUESTION – Thank you for taking the time for our readers to get to know you. Is there anything else you like to say or even promote? How can our readers contact you on social media.

LUKAS – I am always available on twitter and my private messages are open for everyone to contact me. Every single day I am moderating in the MadazMoney.com chatroom where I teach my entire approach. We are working hard to provide everyone with the best tools to succeed in this profession all while having a great time, if you want to learn more: http://bit.ly/2QAncY6

Other than that I am constantly trying to provide free content through my YouTube channel “TheShortBear” and always I am reachable through my email:

lukas@madazmoney.com.
Thank you for having me!

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Mark Sear – Interview

73DF75CE-CCF8-4050-B215-6EFB8B24100DQUESTION – Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know, who you are, what you do, where you live, work and your experience in the trading community. (including any Trading Services you might offer to institutions or individual retail traders)

MARK – My name is Mark Sear. I live in the UK, in a small village but not far outside the global financial centre of London. I am Co-founder of Inteligex, which is an algorithm based high speed trading alert system. Inteligex offers a fully automated trading system that runs on your own PC with your own personalised strategy and risk settings. It is a smaller version of the algo trading machines used by hedge funds and banks. I have spent over 20 years in the trading arena including working as a Quant with various big banks as well as Data Scientist roles and leadership in a number of start-ups.

 

QUESTION – What personal or professional failure/setback have you experienced in your life or professional career that has set you up for later success

MARK – I had a number of failures in my early years but if I had to find one that stands out it is when I damaged my leg very badly. That meant I couldn’t fulfil my dream of joining the Parachute Regiment. However, that led me instead into Intelligence where I found my passion for examining, understanding and forecasting data. I guess everything happens for a reason.

 

QUESTION – What role model did you have earlier in life? And do you currently have anyone you would consider a mentor?

MARK – I grew up in a poor home and wasn’t really looking for a mentor, I was just focused on surviving. My parents did what they could for me and provided great stability and I still look up to my late father. He was a good man, a much better man than me and use his influence to try and become a more decent person every day. Somebody I also hold in very high esteem is the famous WWII cryptologist Alan Turing. His focus, passion and dedication to understanding and interpreting data patterns undoubtedly shortened the war. His subsequent treatment by the UK government was abhorrent, but that’s a different topic.

 

QUESTION– How would you describe what makes a successful Trader – keeping in mind that it has been reported that 90% of traders fail.

MARK – Only 90%? I’d say it’s higher than that, especially for the self taught ones. When I started trading, over 20 years ago, you could get an edge and more easily make money trading. Now it’s hard to get an edge as the majority of trades in most markets are being done automatically. When you start out trading you need to have really clear expectations that it’s a new skill and will take time to learn. Too many people just want it to work now and won’t put in the hard yards.

First, I would say you need a system, something that gives you a trading structure and enables you to set a personalised strategy and risk profile. If you’re doing something consistently and recording it you can see where you are winning and losing and where you need to improve. Second, you need training. I learn something new about the markets every day and I’ve been doing this for over 20 years. Think like a child and absorb everything. Third, exploit technology. Over 80% of stocks traded in the US are automated, why would you want to be in the 20%. Are you still going to work on a horse when everyone else is driving a car!

That’s why we built Inteligex, it augments your human intelligence by using the best bits of AI and algorithms.

 

QUESTION : What is the role in having a balance all around life in your day to day activities. What hobbies do you enjoy?

MARK – I think balance is important but the markets trade 24/7 and to be honest I tend to get very focused on them. I love yoga so I make time for that and I’m happy when I’m in nature away from the hustle and bustle of the city.

 

QUESTION – What advice would you give to your younger self as it relates to your personal life. What about advice for your younger trading self?

MARK – Be yourself, do what you want to do not what you think others want. Lose the ego, it stops you learning and slows down your development.

 

QUESTION – What good & bad advice do you hear often in life, as well as in trading?

MARK – In these days of social media and constant news there is so much advice about you just need a really good filter. To be honest, my personal view is that there is so much rubbish and fake news, a lot of it you just need to switch off! Let’s face it, when it comes to trading, when it’s in the news you’re already behind the curve and you’ve lost the edge.

I advise giving yourself time to do the thinking and learning and know that you never become an expert, every day is going to be different and you’ll see many challenges so just enjoy the ride! We’re just passing through!

 

QUESTION – Outside of your own (which you can still list below)…. What are your favorite books to read and why?

MARK – I like historical books and am fascinated by the feats that humans have accomplished over the years, often against significant adversity; you could say I align with the underdog. I no longer read many business or finance books but I do like it when somebody comes along with something that aligns to my view of the world. This has recently happened with Simon Sinek, what he has codified is just obvious to me and that’s the beauty of it!

 

QUESTION – When you have lost your mojo or focus , what do you do to get back on track?

MARK – I have to be totally alone with my thoughts to get myself back on track, ideally out in nature or by the sea.

 

QUESTION – If you could have a big billboard with your favorite saying or message on it, what would it be.

MARK – Love all, trust a few, do wrong to none.

 

You can FOLLOW Mark Sear on Twitter at @InteligexTrader or visit his company’s website at bit.ly/2JWEw5o

More Interviews, Uncategorized

Anthony M. Denier – Webull CEO – Interview

ED70A448-F889-406A-B92B-3C29FE5A8855QUESTION: Thank you for taking the time to participate in the Q & A session. Before we start in detail. Would you like to share with everyone who may not know,who you are and your background.

ANTHONY: Thank you for recognizing me and our team at Webull. My name is Anthony Denier and I am the CEO of Webull Financial. Born and raised in New York, I grew up 20 miles east of midtown on Long Island, attended college at Columbia University, and got my first job out of school trading equities for Credit Suisse in New York. Compared to my fintech peers, I probably have a more traditional Wall Street background than most that is heavily rooted in adhering to industry regulation and customer protections.

 

QUESTION: Your company WeBull has burst upon the trading scene recently. Can you briefly describe what you do, your short and long term objectives. And the benefits you feel you bring to day,swing and long term traders.

ANTHONY: Webull provides premium trading, market data, and analytical tools to all investors, regardless of AUM or trade activity for free. No minimums, no fees. Many users don’t know, but Webull started as a free market data app, and we only added the brokerage and trading component in May 2018. We now boast over 10 million global downloads of the app and hundreds of thousands of brokerage accounts in the US. Our short term goal is to provide all the tools we possibly can for our users to make smarter trade decisions. We strive to continue to add new products for our users, like options, and crypto, but want to be sure we roll these products out correctly to our users so Webull can be a place where they grow their money, rather than lose it due to inexperience or lack of information on what they are trading. Eventually, Webull we be the premier destination for free trading and investing tools for users who don’t want to actively trade their own accounts.

 

QUESTION:  What personal or professional failure/setback have you experienced in your life or professional career that has set you up for later success?

ANTHONY: One of the reasons I love the northeast is the change of seasons, without the darkness and cold of winter, you cannot truly appreciate the light and warmth of summer. The same applies to life experiences. As an institutional trader, I was subject to the boom and bust cycles of the economy and found myself taking lateral jobs across my career because I was confident in what I knew and scared of what I didn’t. In 2012, I was trading equities for the Dutch bank, ING and they decided to close down their equities business in the US. I was devastated as I had a growing family and fears of not being able to provide for them. I knew I needed to adapt and embrace the fear of the unknown so I started my own broker dealer. This turned out to be the path of learning that would bring me to eventually start Webull Financial 5 years later.

 

QUESTION: How would you describe what makes a successful Trader – keeping in mind that it has been reported that 90% of traders fail. And how do you feel WeBull can better those odds for the everyday retail trader.

ANTHONY: A successful trader is someone that can learn from and perhaps more importantly, not repeat past mistakes. The main difference between a trader for an investment bank and a retail trader is information. Retail traders are always at a disadvantage because they simply lack the tools of their institutional counterparts. Webull levels the playing field. Webull provides real time volume analysis, community discussion boards, and stock analysis tools so retail traders are no longer only executing trades on last price and internet searches.

 

QUESTION: Away from your role at WeBull, what do you feel is the role in having a balance all around life in your day to day activities. What hobbies do you enjoy?

ANTHONY: I wear a suit most days and stare at a computer longer than the recommended daily allowance, so when I’m not working I am spending time with children. Most notably, I have been coaching my sons little league teams now for several years. It not only selfishly gets me out of the office early some days, but it gives me a chance to interact with them in a positive way by teaching, instilling confidence, and helping them to overcome failures.

 

QUESTION: What advice would you give to your younger self as it relates to your personal life. What about advice for your younger trading self?

ANTHONY: I would tell myself that disappointment and failure are unavoidable, just be sure to take from that a powerful lesson and don’t ever repeat.

 

QUESTION: What good & bad advice do you hear often in life (professional or personal)?

ANTHONY: My wife tells me, “Integrity is hard earned and easily taken away.” There couldn’t be a more succinct piece of advice. Always question anyone or anything that promises you to get rich quick, or success with little to no effort. This is just not true.

 

QUESTION: If you had to give a book or books as a gift to someone,  What would you recommendand why?

ANTHONY: I recently finished Moby Dick from start to finish. Even though I “studied” it in school I only read the parts that needed to be read. In order to fully appreciate the battle and futile dedication of Ahab and his mission the reader has to also endure. Its not an easy beach read, but when your through you have the feeling of accomplishment that only comes after doing something difficult. Such is life.

 

QUESTION: When you have lost your mojo or focus , what do you do to get back on track?

ANTHONY: Simple, take a day off and focus on what matters most in your life. In my case, my family. Spending quality time those that mean the most to me always refuels me drive forward and succeed.

 

QUESTION: If you could have a big billboard with your favorite saying or message on it, what would it be.

ANTHONY: Without risk, there is rarely reward. – Paul Allen

 

Thanks for allowing our readers to get to know you. To find out more information about Webull visit them at: