Former Penny Stocks Market-Maker, turned Retail Trader, Trader Educator and host of the superb ‘Confessions of a Market-Maker’ podcast JJ aka 'vwaptrader1' talks to Steven and Mark about his colourful career, his time as a stock manipulator, how he helped take companies private, his rise and fall, and his new career retail trading.
JJ spent 2 decades working in the mad and crazy world of market-making in penny stocks which was immortalised in the classic film ‘Wolf of Wall Street’.
In that time JJ came to accumulate the sort of wealth most people come into trading for, only to see it disappear just as easily. He then suffered the near-death experience of heart attack, followed by a triple heart-bypass.
More recently JJ moved into the world of retail trading. His journey into this world was anything but smooth, and he soon found that his 20 decades in market-making was of relatively little value in the challenging world of retail trading.
This interview is the first part of two interviews with JJ where he talks candidly about the world he inhabited, the people in it, and the challenges of making it as a retail trader.
We discuss some of the learnings and insights he has made since becoming a retail trader, and about what he has learned from some of the great guests he has had on his show. We also discuss the MarketProfile tool and associated methods he uses to help him find value in the markets.