Insights from Professional Traders: Learnings from Top Trading Minds

I wanted to see if I could scavenge the internet for interviews with professional traders. Traders that actually make a living from trading. Not those tiktokers that say they fly to their home office in a helicopter. Yeah, those guys. I hate those guys. I wanted to find interviews with traders that are making 100s of millions of dollars from purely just trading. Pick their brain and see what we could learn from them.

Could I find interviews with the greatest minds in the trading space, where they give actual good advice and maybe some tricks you can use right now in your own personal trading? When making this video, it was actually pretty hard to find these interviews. And to top it off, they were all hours long. So I had to go through each one and cut the best parts of it. So you, the viewer, don’t have to do what I did, and can get the most amount of value, in the shortest period of time. Quick hint, I found some gems.

I compiled 10 different professional trader’s interviews. These interviews include absolute gold mines of information. Including trading psychology, best times to enter the market, and overall just juicy amounts of information. Let’s not waste any time, let’s get straight into it.

Charlie Burton’s Advice: Think in Percentages

Our very first interview is going to be with this guy, Charlie Burton. His advice, well, I thought it was a pretty good way to start off the video. Now Charlie made some really really great points. Like Charlie, I get DMs all the time, basically with the general message of this.

“Hi Tradinglab, it’s Carl. I have $7 in my trading account. Can you teach me how to turn that 7 dollars into a Lamborghini within 72 hours? Would really appreciate your help. Thanks. Love, Carl. Xoxo.”

Now don’t hate on Carl. There are tons of people out there just like Carl. A lot of traders when they first start trading, they only are thinking about the money. Which if you only think about the money, you are guaranteed to fail. You need to be thinking about trading in percentage terms. Sure, 10% of $7 is only 70 cents. But as a percentage, 10% is a lot. And you need to think of it as a lot. So very good point by Charlie.

Al Brooks: Trading is a Game

Our next interview is with Al Brooks. And I really liked this interview. He kind of shows a different perspective on the market and how you should be viewing it as a beginner trader. I really like the point he made, where he said trading is basically a game. In order for you to make money, you need to take money from someone else. And if you’re literally starting out, can you really expect to be better than someone else who has years of experience? Probably not. So that’s why it’s always good to start with paper trading and start with fake money.

Larry Williams: Best Times to Enter the Market

Alright, our next interview is with Larry Williams. He’s going to be talking about the best times to enter into the market. But first, let’s talk about today’s sponsor Hankotrade. Larry loves his U.S., I’ll tell ya. All jokes aside, Larry is spitting straight facts. Every single trading day, the market will have the most amount of volatility when it first opens, die during lunch hours, then shoot back with volatility at market close. Now if you know anything about trading, volatility is your friend. You don’t want to be trading when the market has no volatility and 0 movement. So good point Larry.

Brett Steenbarger: Trading Psychology

Our next interview is with Brett Steenbarger and he’s going about a very common psychological mistake traders make. I liked this interview. It’s showing that trading is not gambling. You shouldn’t be going for those huge 100x plays. You need to be thinking of trading as slow consistent gains. Sure, it doesn’t sound as fun, but when you start thinking like this, your trading game changes drastically.

Mark Douglas: Getting an Edge in Trading

Our next speaker is Mark Douglas. He’s going to be explaining how to get an edge with trading. Mark made some great points. A lot of people overcomplicate trading. All you do is find one thing that has a high probability of happening over another thing. Once you find said thing, you write a step-by-step plan to be able to trade around it. Meaning, you can never break this step-by-step plan. Once you get the machine working, it’s all profit from there.

Brett Steenbarger: Behavioral Challenges in Trading

Next, we are going to watch an interview with Brett Steenbarger talking about two specific behaviors that can come in the way of your trading. Brett is speaking the holy grail here. The market is just a character magnification device. If you’re impulsive, it’s going to magnify that. If you’re OCD, it’s going to magnify that. If you get mad or angry, it’s going to magnify that. If you’ve ever watched somebody trade in a demo account, you’ll see them making millions of dollars and be so happy. But the MOMENT you let them trade with real money, all hell breaks loose. I truly think trading is 90% psychology. And a lot of new traders, unfortunately, don’t understand that.

Linda Raschke: Importance of Trading Preparation

Next interview is with a woman named Linda. She’s going to be talking about how important trading preparation is. I like Linda. I completely agree with this. You want to be making the least amount of decisions possible when trading live. Because usually, if you’re making decisions while trading live, oftentimes it’s very easy to let emotions slide in. Which obviously we don’t want. So do all preparation before you even enter the trade. That way, you just follow your plan and don’t have to make decisions live.

Al Brooks: Should You Follow Market News?

Next interview we have Al Brooks. He’s going to go over his opinion on market news and if you should even follow it. I completely get where Al is coming from. Oftentimes when you even read the news article, it’s already too late. And if you entered or exited because of that news article, you’re just reacting to a wave that’s already passed. And I really like what he stated here, saying the news is already baked into the price charts. Meaning you don’t even need to see the news. You can just read the chart itself for a non-biased story. So I’m sure this is a controversial opinion but I thought it was a pretty interesting perspective.

Bill Ackman: Learning Investing from the Ground Up

Next, we are going to listen to an interview with Bill Ackman. If you don’t know, Ackman manages billions of dollars in trades. So he knows what he’s talking about. He’s going to be explaining how he thinks you should go about learning investing. It makes sense. If you truly want to learn how investing works, it’s best to go from the ground up and go inside businesses and actually see how they work. Even going into a bad business will teach you just as much on what to look for to see if a company is bad. So good advice.

Warren Buffet: The Advantage of Patience in Trading

The last interview, I saved the best for last. It’s with none other than the king himself, Warren Buffet. The interview is probably the most important. Like Warren was saying, when trading, you have the biggest advantage in the world, and that advantage is to only swing when you want to swing. And you can wait for the perfect pitch that fits all of your standards. A lot of traders don’t use this advantage at all and swing at every pitch that comes across the plate, even if it’s a mediocre pitch. So I really liked that point. Patience is a true advantage in trading.

Have you ever thought if hedge funds use technical analysis? Well, like this video, I went through tons of videos of hedge fund interviews to hear their thoughts on what they think about technical analysis. It was actually pretty surprising. Thanks for watching and I’ll see you guys next time.

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