Trader Mindset

There is no such thing as 'revenge trading'

One of my first tasks as a magazine editor was to "fact check" Jon's written work. Easiest job ever...

You have an emotional system that you run right alongside your trading system. If you're lucky, the two act in harmony. Frustration is a feeling that can derail your trading. You have to learn to understand what the positive intention of your frustration is in order to continue forward. What is your frustration trying to communicate with you?

With his free time he runs a family office.

Richard Sandor is considered the founder of financial futures. He also founded the Chicago Climate Futures Exchange. Now he's created an OTC market for small banks to better manage risk.

Jared Dillian is the author of the the acclaimed book Street Freak. He also writes a daily research note at www.dailydirtnap.com.

I've been a big fan of meditation coach Susan Piver for a very long time. She's one of the best meditation coaches you can find, especially if you're not in an area where yoga or meditation is available. Many traders don't know where to start, so I thought it would make sense to bring in an expert on the subject and record a real conversation between us about the positive impact meditation has had on our lives. It's actually quite easy to begin a meditation practice.

Renown energy expert Phil Flynn speaks with Michael Martin about crude oil and natural gas. Brent crude is in a bigger glut than WTI so we spoke about the potential for the Brent / WTI spread to invert.

Aaron Brown is the Chief Risk Manager at AQR. He works with PhD's, CQF's, and some of the best minds in quantitative finance. His firm runs over $US 100 billion and they used advanced math to manage risk. Yet, I think that one of his greatest challenges was for Aaron to write a book on risk management for non-professionals using layperson's terms. That's what he's done with his new book Risk Management for Dummies. I read the book cover to cover and then recorded this podcast interview with him. You can read my Amazon book review.

Steve Sears and Michael Martin speak about the fallout from China in the gaming industry, the effect of ESPN and Start Wars on Disney, and volatility. Michael gets Steve's feedback on using long-dated options as surrogate vehicles for investing and Steve discusses what he thinks he and his readership got out of his book. Stocks discussed ASHR, WYNN, MGM, DIS, VIX, and FXI.

25 years ago Manny Ochoa was like many of you: he had a model that worked but wanted to grow his business to scale his operations to the pro level. He used his own limited capital as his initial grubstake and built a track record. That led to an allocation from a major (and legendary) prop trading firm and eventually to owning a seat on the CME.

Can you have capitalism with a sense of spirituality? My guest today thinks so. Motivated by an incident at Occupy Wall St., author and coach Kim Ann Curtin investigated how to be a capitalist while having a conscious. Curtin interviewed over 50 Wall St thought leaders on the subject and condensed her findings in her new book Transforming Wall St.

In today's episode I answer questions from callers and point them in the right direction. This is along the lines of coaching and mentoring and it's a lot of fun and I know they got a lot out of it.

Peter Borish is the co-founder of Tudor Investments and The Robin Hood Foundation. He's used to giving back. He is a faculty member of MartinKronicle and he works best with new traders to make sure they begin their careers well and not establish any bad habits. Needless to say, we don't get any Buyer's Remorse from Peter's students. Peter is a very sought after executive and is an advisor to several companies and boards. He is the Chief Strategist at Quad Capital. He is a founding investor and member of the board of directors of CharityBuzz. He also served as Chairman of OneChicago.

Scott Kaminski is widely regarded to be one of the best trading coaches in the business. Scott traded for Tudor Investments for 8 years. His Trader Mastery program comes with the wisdom he's acquired from over 34 years of trading experience and teaching ability. Scott Kaminski is a faculty member of MartinKronicle as a Trading Coach. His training program is about how to read any market and apply rigorous risk management in trend following and swing trading and to trade only when the reward to risk ratio is asymmetric.

Adam Grimes is a great role model for today's aspiring traders. He's a successful author, trader, and trading instructor. He leads a very rich life: he's a chef, speaks 3 languages, and taught himself to program (a computer).