1. Getting into Futures
2. Finding his Edge
3. Market Correlations
4. Market Reactions
5. Position Sizing
Futures Trader & Founder of The Edge Trading Group
Rapid Fire 🔥
Q. What Trader has influenced your life the most and why?
A. My dad who an investor not a trader but invested in stocks when no one knew what stocks were. I remember watching the business channel at dinner each night so he can see where his stocks closed. He was a blue-collar electrician and my mom was a homemaker. They had 8 kids so they were not wealthy but any extra money they had they would invest in dividend yielding stocks. It made me aware that the financial industry existed.
Q. What was one of the hardest things for you to overcome in Trading?
A. Randomness – I didn’t realize it at the time but it was the thing that was keeping me fearful to throw my arms in the air and trade. I took classes, I was always an aggressive guy, yet in the pit I didn’t know what the next tick was going to be. I knew the mechanics, I was a clerk quoting for 3 yrs, so the hand signals, the concept of lifting offers, hitting bids was second nature. It just didn’t dawn on me why or when I should bid or offer.
Q. How has your trading process evolved over the years?
A. In short I trade areas instead of price. I’m not tick sensitive, and let an area get violated, before I’m wrong. In the past, as I’m sure you know, if we were long from the offer or short from the bid we were scrambling to get out. It was all about scratching what would of been losing trades until u caught one that went ur way. Again, as you know, long bids, short offers, and know where ur lean was. For the last 9 yrs. or so you had to adjust from that – to an area being where the bid is – not the actual price.
Q. What is one attribute that you believe every trader should have?
A. The same thing every good husband should have, be good at being wrong, cause your gonna be. Admit it, and move on. I tell people I’m not an expert trader I’m an expert at being wrong. A trade should never shape ur day or ur week. If you think that a career should made of thousands and thousands of trades, then why would anyone be that important.
Q. Favorite Book about Trading?
A. Still waiting on one. I can’t finish books, to me the first 1/3 are ok, than the last 2/3rds repeat the first 1/3rd to make it 300 pages.
Q. If you had to pick a profession other than trading, what would it be?
A. Before I knew what trading was about probably Electrician, because it was honorable work that my dad and 2 of brothers do/did. NOW, after knowing what I know with trading, I think the only other thing I can do is something that was entrepreneurial. I would not like knowing exactly what I am going to make each month…it would make me complacent and bored.
Q. What’s the best advice you received about Trading?
A. Know where your getting out before you get in – I think I heard you had Mickey on ur podcast. I went through his program as well, back in 98. While I have gotten a lot of good advice, that seems to always keep replaying in my head.
Q. If you can give a piece of advice to the younger you, what would it be?
A. Not to sound like I did everything perfect, because I didn’t, I wouldn’t advise my younger self too much. I would be afraid it would have not led to the people I have met or the woman I married.
Q. If you had to elevator pitch me your edge trading, what would you say?
A. Taking the skill of tracking buyers and sellers (order flow) and compare/contrast similar market relationships. Think about it, you have used that your whole life when you go to buy or sell anything. All we do is help you understand how to apply that to trading.
Q. Favorite thing to do when not Trading?
A. I come from a family of 7 siblings and have 50 nieces and nephews. Now I have 4 kids of my own, so I really like to do things they like to do and I always like to be around my extended family.
Record Date: 1/27/20