Jack Schwager needs no introduction.
He's a well known expert in the industry, working for some of wall streets leading firms.
Plus he's the author of the best-selling series of 'Market Wizards' books, which I'm sure most traders on this planet have read!
In this chat with Jack we discuss Optimization Myths, referencing some interesting results of a study that analyses the effectiveness of optimization...
The results may not be what you expect...
And could have a huge impact on the way we test and trade strategies.
There are plenty of other nuggets of info too, including:
Did you know there are some situations that can cause traders to throw away perfectly viable trading strategies, without even realizing it?
Putting all that hard work and effort into building a trading strategy but due to some arbitrary decision we’re making during the strategy creation process, we throw the strategy away...
When it could have been a good trading strategy...
So, what could be causing this?
And, what’s the solution?
Let’s hear Dave Walton from Statistrade explain what this danger actually is so we know what to look out for, and then briefly discuss one of the solutions to this 'hidden' problem.
Have you ever wondered what exactly is it that makes a trader successful?
Is it based on personality?
A specific approach to the markets?
Dr Brett Steenbarger is a trader and performance coach, and gets heavily involved in the recruitment process for trading firms.
He gets to interview traders, see how they work and analyse their performance so he’s in a really great position to make these types of observations.
Take a listen to Brett sharing the 3 main components he's observed in successful traders.
How many traders do you know that have successfully cornered a market?
If you're not familiar with the term 'corner the market', it means to get enough control of a commodity, stock or other asset so that you can manipulate the price.
There are a number of documented cases in history where people have tried...
... and it usually doesn't work out too well for them!
This weeks podcast guest Kurt Sakaeda has cornered a market, however it was more of an amusing accident that an intentional act.
And this is just one of the entertaining stories Kurt shares with us in our chat today.
Those familiar with the World Cup Trading championships would recognize Kurts name because he's won it a few times, with his first win in 2000 so he's been trading for a while.
In our chat with Kurt we discuss a mixture of trading topics, including:
Last week I had to make an emergency trip to the hospital.
It highlighted a gap in my trading 'operation' (pardon the pun) so I wanted to share that with you so that you can learn from my mistakes.
How will your trading handle an emergency?
Have you ever dreamed of leaving your day job to trade for a living?
Or living a life of freedom - travelling the world or hanging around at home, doing whatever you like during the day while you live off your trading profits?
When I first started getting into trading I had this grand vision in my mind of leaving my corporate job, travelling the world, living a life of luxury all supported by my trading profits.
It's a common goal for alot of traders, but getting to that stage can be difficult, and knowing when you're ready to make the leap can be challenging.
I regularly receive emails from people asking questions like:
The guest for this episode, Nick Radge from The Chartist, has an extensive trading history and also mentors other traders.
He's in a great position to answer all of our questions on trading for a living, so that's what he's going to do for us today, plus...
... he's also going to share some honest advice that all traders need to hear before taking the step to 'trading for a living'.