Trader Mindset

Latest Episodes:

How to manage your account like a pro Apr 30, 2018

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If you put every dollar you have to work, you don't give yourself any room when Murphy's Law kicks in.

If you keep some dry powder, you'll be able to able to withstand some shocks to the system, as well as have capital to deploy when something falls into your lap.

How you can profit more with options Apr 27, 2018

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Michael Martin interviews options trader and portfolio manager Hari Krishnan on the current environment and how traders can position themselves with options to capture greater profits.

Krishnan is the author of The 2nd Leg Down: Strategies for Profiting after a Market Sell-Off.

Why crypto investing is more risky than futures trading Apr 26, 2018

Show notes

Crypto investing is missing some key components that an investor's are used to in trading equities, options, and futures.

In this episode, Michael Martin discusses what's missing and why you should measure 8 times and cut once in the crypto space.

How to use options to reduce risk in your portfolio Apr 25, 2018

Show notes

With the likelihood of the fed tightening, investors who rely on certain instruments for income are in a tough spot.

They can use options to transfer the risk and hold their current positions.

How to see key inflection points in the market Apr 24, 2018

Show notes

Key inflection points can happen with the fundamentals as well as the technicals.

Why trading before an earnings report is a risky gamble Apr 23, 2018

Show notes

I've seen too many traders try to trade something on a hunch because they thought earnings were going to be a blowout.

It's much more complicated than that.

There's the EPS, top-line growth, expenses, one-time charges, and forward-looking statements that get reported.

I've seen companies beat by $0.02 per share, but the forward-looking statements are bearish or cautious and the stock sells off.

Trading on hunches is a gamble: you don't know the probabilities nor the expected values.

If you can't model it, you can't trade it.

How to know if you're suitable for system trading Apr 20, 2018

Show notes

If you believe the adage that "good trading is boring," then system trading is boring to the nth degree.

There are days, sometimes weeks, that I don't generate an ORDER, never mind a trade. Then there are times when there are so many orders, you have to write them all out first in a general ledger and number the tickets.

On the flip side, system trading is also very peaceful because I'm able to scan thousands of instruments in less than a minute and not worry that I'm missing out of an opportunity. That is a mental advantage if nothing else.

When you focus on your process the results will follow Apr 19, 2018

Show notes

Focus on your process and stay out of the results - you're powerless over them.

All you can do is control the "controlables" - that is, your behavior.

How spreads decrease risk and increase profits Apr 18, 2018

Show notes

Seasonal commodity spreads can be very a reliable type of trade for your portfolio.

While commodities are surely not for everyone, commodity spreads are considered "hedged" because the trader is simultaneously long and short the same commodity but in different expiration months.

A great source of information on spreads is at Moore Research Center. You can find them on the internet at www.mrci.com.

How to achieve your goals faster by staying on message Apr 17, 2018

Show notes

Some investors will test you by asking you questions that are deliberately off the mark.

Stick to you message throughout even if they try to knock you off balance.

You might take a meeting as a CTA and someone interviewing you might say something along the lines of "We're looking to allocate $10MM to a crypto-only portfolio in the next 5 days" when they know you're looking for assets.

It's ok to laugh at them and say "good luck - I hope there is a short selling component to the model."

Tell them that it's "not terribly wise to make such an allocation on short notice." Most want some fight in the dog.

Stick to your message and what it is you can do and leave it at that. Otherwise, you'll look amateurish if you're all over the place.

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