Chat With Traders

Ian Cox and Tessa Dao
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Chat With Traders is your key to the minds of trading's elite performers. Start listening to learn how a diverse mix of traders went from zero to hero, how they successfully trade markets today, and get their best tips 'n pointers for profitable performance, plus much more. Note: You are responsible for your own trading decisions—this is not financial advice.

  1. 4 HR AGO

    Sports Betting and Prediction Markets - Through a Trading Lens

    Stefan Stadie is a professional sports trader at Kero Sports whose work sits at the intersection of equities, sports betting, and prediction markets. After starting his trading journey in equities, Stefan evolved toward a more process-driven approach focused on price, liquidity, and market behavior. Today, his edge comes less from predicting outcomes and more from identifying mispricing, capturing inefficiencies, and operating across multiple markets in real time. In this conversation, Stefan shares how the same principles—crowd psychology, liquidity, and price discovery—show up across different environments, from stocks to sports to decentralized prediction markets. He also walks through his transition into arbitrage and market making, how he approaches risk, and what it takes to stay disciplined when operating in fast-moving, competitive markets. This episode offers a different lens on trading—one that challenges traditional thinking around prediction, edge, and where opportunity actually comes from. In this episode, we explore: ·        Why trading principles can transfer across completely different markets ·        The role of liquidity and crowd behavior in shaping price ·        Moving from directional trading to arbitrage and market making ·        How mispricing creates opportunity across fragmented markets ·        The reality of being limited or banned by sportsbooks ·        Differences between traditional financial markets and emerging prediction markets ·        Managing psychology and discipline in fast-moving environments ·        Why focusing on price—not opinion—can change your approach to trading About Stefan Stadie: Stefan is a professional sports trader at Kero Sports, specializing in market structure, arbitrage, and market making. He also trades equities and participates in prediction markets, applying a consistent framework centered on liquidity, psychology, and price discovery across different trading environments.   Links + Resources: ·        X (Twitter):  https://x.com/BronzeBeardd   Sponsor of Chat With Traders Podcast:  ●       Trade The Pool:  http://www.tradethepool.com   Time Stamps: Please note: Exact times will vary depending on current ads.  00:00 Introduction 04:39 Early life, education and entry into oil & gas06:18 2020 oil crash and negative crude prices08:14 Early trading career, swing trades and going full-time09:18 Trading mistakes, position sizing and risk management11:33 Trading during the COVID crash and learning resources12:41 Transition to short selling and strategy shift14:14 Liquidity events and shorting tactics16:53 Entry into predictive markets and sports betting18:23 Arbitrage strategies and OddsJam scanner21:38 Bans from retail sportsbooks and joining Kiro Sports26:37 Polymarket, peer-to-peer exchanges and crypto betting29:04 How prices are set and market-making basics35:32 Market-making tactics, spreads and target returns40:31 Directional positions and daily activity in predictive markets41:43 Parlays, selling parlays and house edge44:10 Growth, regulation and insider-risk in prediction markets49:20 Comparisons with financial markets: liquidity, edge and crowds01:01:54 Gamification, responsible use, psychology and advice for newcomers01:10:00 Closing remarks and contact information   Trading Disclaimer:  Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

    1hr 17min

  2. 12 MAR

    319 · Sam Gaer - From the Copper Pits to Crypto Derivatives: How Trading Edge Evolves

    Sam Gaer’s career spans several major shifts in market structure — from the open-outcry pits of COMEX to high-frequency trading and now crypto derivatives. Sam began his career as a teenage runner on the COMEX floor during the gold boom of the early 1980s before becoming a copper pit trader himself. While most traders relied purely on instinct, Sam was already experimenting with technology — building early pricing tools that helped identify inefficiencies in spread markets. His path eventually led beyond the trading floor into exchange technology and market infrastructure, including building trading software that was later acquired by the New York Mercantile Exchange. In recent years, Sam has focused on crypto markets, where he applies traditional derivatives frameworks to volatility, options, and digital asset trading. In this episode, Sam shares insights from decades of experience across multiple market regimes and discusses how trading edge evolves as markets and technology continue to change. In this episode, we explore: · Getting introduced to markets as a teenager · Life inside the COMEX copper trading pits · Early use of computers to price commodity spreads · Inefficiencies in open-outcry markets · Building exchange technology and selling Trading Gear to NYMEX · The transition from pit trading to electronic markets · Market structure lessons from traditional derivatives markets · Why Sam shifted his focus to crypto markets · Opportunities in crypto options and derivatives · Convexity, volatility, and institutional trading frameworks in digital assets About the guest: Sam Gaer, Chief Investment Officer of the Directional Strategy at Monarq Asset Management, has more than three decades of experience across derivatives trading, exchange technology, and quantitative strategy development. He previously served as Chief Information Officer of the New York Mercantile Exchange (NYMEX), where he helped modernize the exchange’s trading infrastructure. Earlier in his career, he was a floor trader on the COMEX commodities exchange and later founded Trading Gear, a technology firm whose trading software was acquired by NYMEX. Sam has also launched and managed quantitative trading strategies focused on derivatives and volatility markets, and today works on institutional trading approaches within digital asset markets. Links + Resources: · Website:  https://www.monarq-am.com · Email:  investors@monarq-am.com Sponsor of Chat With Traders Podcast:  Trade The Pool:  ⁠http://www.tradethepool.com Time Stamps: Please note: Exact times will vary depending on current ads. 00:00   Intro and Background 01:48   Early career: COMEX runner to copper pit trader06:40   Programming background and early trading automation16:19   TradingGear: pivot to exchange software and NYMEX sale / CIO role21:09   Trading style evolution: scalping to event-driven and electronic trading23:42   High frequency trading, FINRA experience and entrepreneurship25:09   Transition into crypto: Katana Financial and early crypto market making28:01   Crypto derivatives focus: options, convexity and strategies34:19   Recent crypto market decline: causes, liquidations and regulatory uncertainty39:51   Institutional adoption, ETFs (IBIT) and market-structure impacts42:57   Tokenization, real-world assets and digital asset treasuries (DATs) 56:17   Reflections on markets, challenges and use of AI 58:36   Closing remarks and contact information   Trading Disclaimer:  Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

    1hr 4min

  3. 27 FEB

    The Shift to Systematic Trading — Building Backtested Confidence

    When Dave Mabe backtested his strategy, it outperformed his own discretionary trading — and changed how he approached everything. In this episode, we discuss gapping breakouts, expectancy, systematic trading, drawdowns, and the reality gap between backtests and live execution. A practical conversation for traders serious about building durable edge. In this episode, we explore: ·        How Dave got introduced to markets: From early exposure to investing through his family to actively seeking more control over his capital and moving from swing trading into day trading. ·        Why rules matter: The transition from discretionary decisions to systematic frameworks — and why trading without a process is a fast path to inconsistency. ·        Backtesting as a “superpower”: What backtesting really does for strategy development and confidence in your edge. ·        Reconciling backtests with real life: Practical realities of execution, slippage, and market structure — and how to build a feedback loop so your live results get closer to your simulations. ·        Drawdowns and mindset: How to handle periods where a strategy doesn’t behave as expected, and why many traders quit in drawdowns rather than at all-time highs. ·        Scaling a trading business: The difference between scaling size versus scaling breadth — and why uncorrelated strategies matter. ·        Practical first step for systematic traders: How to start adding structure to your trading with backtesting, even if you’re not a programmer.   About the guest:   Dave has been a professional trader and technologist for over two decades. As a former CTO of Trade-Ideas, he has unique experience at the intersection of algorithm design, real-time market data, and automated execution. Outside trading, he writes a popular daily newsletter on backtesting and systematic strategy development, and hosts the Line Your Own Pockets podcast focused on systematic approaches to markets. Links + Resources: · Link to Better Backtesting —Dave’s free multi-day email course on building strategies and improving them over time. · Trade-Ideas, Amibroker, RealTest — examples of backtesting and strategy development platforms discussed in context.   Sponsor of Chat With Traders Podcast:  Trade The Pool:  http://www.tradethepool.com Time Stamps: Please note: Exact times will vary depending on current ads. 00:00 Intro and Background 08:29 Stock Selection and Systematic Trading Rules 11:32   Position Sizing, Expectancy and Risk Management 16:50   Discovering Backtesting and First Backtests 18:40   Backtesting Principles, Sample Size and Common Pitfalls 20:34   Gradual Automation and Live Trading Implementation 22:17   Trading Journal and Reconciling Backtest vs Live 27:27   Scaling through Automation: More Trades, Better Results 29:26   Drawdowns, Psychology and Handling Setbacks 34:14   Tools, AI and Software for Backtesting and Coding 39:56   Common Trading Myths Debunked (Partials, Stops) 48:01   Getting Started: Practical Steps, Resources and Closing   Trading Disclaimer:   Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

    56 min

  4. 11 FEB

    The One That Shows Up — The Identity You Practice

    In this episode, Ian sits down with John Assaraf, entrepreneur, behavioral neuroscience educator, and founder of NeuroGym, for a conversation about the invisible forces that shape performance — long after planning, analysis, and good intentions are in place. John shares his personal journey from a turbulent upbringing to building multiple multimillion-dollar businesses, and the pivotal moment at age 19 that reframed how he thought about success, identity, and commitment. From there, the discussion moves into the neuroscience behind habits, automatic behavior, fear, and why people often snap back to familiar results — even when they know what to do. This is not a trading tactics episode. It’s a conversation about execution, follow-through, and the human side of performance — in trading, business, health, and life. About the guest: John Assaraf is a serial entrepreneur who has built multiple multimillion-dollar companies, including helping scale a real estate organization to over $4 billion in annual sales and co-founding a technology company that later went public on the NASDAQ. He is the founder and CEO of NeuroGym, where he focuses on applying neuroscience to performance, habits, and behavior change. John is also the author of several New York Times bestselling books, translated into dozens of languages, and has been featured in films such as The Secret, where many people were first introduced to his work.   Links + Resources:  Free eBook: The Power of Visualization    Sponsor of Chat With Traders Podcast:  Trade The Pool:  http://www.tradethepool.com   Time Stamps: Please note: Exact times will vary depending on current ads.   00:00   Intro and Background 11:16   Mindset Shift: Interested vs. Committed 11:46   Behavioral Neuroscience and Goal Achievement 16:17   Conscious vs. Subconscious Mind 17:12   Creating Permanent Behavioral Changes 21:22   Emotional Regulation and Decision Making 25:30   Overcoming Self-Sabotage 35:20   AddressingFear in Decision Making 42:37   Inner Size: Exercising the Mind 44:27   Self-Sabotage and Financial Set Points 48:21   The Science of Goal Setting 50:17   Visualizing and Embodying Goals 54:40   How to reach John   Trading Disclaimer: Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

    1hr 1min

  5. 29 JAN

    The Turning Points That Shaped Great Traders

    Over the years, we’ve recorded hundreds of conversations with traders across different markets, strategies, and generations. And while no two trading paths look the same, certain moments tend to repeat — not moments of big wins or dramatic calls, but quieter turning points. The moments where something shifts internally. Where progress depends less on the market… and more on how the trader evolves. In this special episode of Chat With Traders, we revisit excerpts from past conversations with traders who reached those inflection points — moments that reshaped how they thought about risk, discipline, accountability, and longevity. It’s a collection of turning points — the decisions, realizations, and hard lessons that changed the trajectory of a trading career. Links + Resources: Episode039     Tom Dante      Episode236     Lance BreitsteinEpisode249     Jack KelloggEpisode036     Peter BrandtEpisode255     Vincent BruzzeseEpisode212     Kristjan KullamägiEpisode286     Jason ShapiroEpisode260     Patrick PeterssonEpisode259     Lukas Frölich (The Short Bear)Episode163     John “Rambo” MoultonEpisode250     Sunny Harris Time Stamps: Please note: Exact times will vary depending on current ads.  00:00 – Intro and Background 01:10 — Tom Dante - A moment of accountability that forced change — and lit a competitive fire.02:35 — Lance Breitstein - Why the best traders bet exponentially when the odds are truly skewed.04:00 — Jack Kellogg - The cost of obsession, burnout, and relearning how to live after the grind.05:25 — Peter Brandt - Market tuition, mistakes, and committing fully to a process (Featured in Jack Schwager’s Market Wizards)06:55 — Vincent Bruzzese - How wealth mindset — not strategy — shapes risk and decision-making08:25 — Kristjan Kullamägi - Scaling up, earning the right to push risk, and long-term conviction 09:55 — Jason Shapiro - Contrarian trading, positioning over prediction, and embracing discomfort (Featured in Unknown Market Wizards)11:25 — Patrick Petersson - The lesson learned at absolute rock bottom — and the cost of not cutting losses.12:55 — Lukas Frölich (The Short Bear) - Running trading like a business — and how progress compounds quietly.14:25 — John “Rambo” Moulton - Detaching from money to trade with clarity and consistency15:55 — Sunny Harris - Taking control after realizing professionals can lose, too.17:30 — Closing reflections20:20 — Outro / End Sponsor of Chat With Traders Podcast:      Trade The Pool:  http://www.tradethepool.com Trading Disclaimer:  Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

    24 min

  6. 5 JAN

    From Early Crypto to 0DTE Options: Fast Money, Fast Reality

    We’re joined by Jamaal Ghauri, a trader and fund manager who began his journey unusually early — first exposed to crypto markets as a teenager during Bitcoin’s early adoption phase, before moving into stocks and eventually options. Jamal walks through the full arc of his development as a trader: early overconfidence, aggressive options bets, a rapid run-up followed by a major drawdown, and the hard lessons that ultimately forced him to rethink risk, position sizing, and process. From there, he explains how he rebuilt by focusing on more structured setups, volatility awareness, and consistency over time. We discuss the evolution of his core strategies — including swing trades, breakout-style setups, and short-term options structures — and how those approaches are now applied within a multi-strategy fund he launched in 2025. Jamal also shares how he thinks about trade distribution, win rates versus loss severity, and why discipline and risk management ultimately mattered more than finding the “perfect” setup. As always, this conversation is about understanding how a trader thinks, how strategies evolve over time, and how real-world risk shows up differently than it does on paper. Links + Resources: Connect with Jamaal on LinkedIn: https://www.linkedin.com/in/jamaal-ghauri-282947172/ Time Stamps: Please note: Exact times will vary depending on current ads. 00:00 – Intro and Background 02:37 – Early Interest in Financial Markets 07:08 – Transition to Stock Trading 08:46 – Early Stock Trading Experiences 09:37 – Shift to Options Trading 10:32 – Learning Options Trading 11:22 – Developing a Trading Strategy 14:51 – First Successful Trades 19:04 – Account Growth and Setbacks 21:00 – Impact of the COVID Crash 32:06 – New Trading Strategies Post-Crash 37:24 – Becoming Profitable 38:22 – Performance in 2022 and 2023 41:07 – Establishing a Hedge Fund 44:40 – Hedge Fund Strategies 50:34 – Current Challenges and Advice Sponsor of Chat With Traders Podcast: Trade The Pool:  ⁠http://www.tradethepool.com⁠ Trading Disclaimer: Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

    59 min

  7. 26/12/2025

    314 · In the Middle: The Demons We Trade With

    A quiet, end-of-year reflection on the middle stage of trading — where progress is subtle, patterns are familiar, and the real work happens internally. Sponsor of Chat With Traders Podcast: ●       Trade The Pool:  ⁠⁠⁠http://www.tradethepool.com⁠⁠ Trading Disclaimer:  Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min

  8. 16/12/2025

    When Crypto Markets Break: Liquidations, Leverage, and Markets Under Stress

    In this episode, we examine what actually happens when crypto markets break — how leverage builds beneath the surface, liquidity disappears, and liquidation cascades turn volatility into systemic failure. Doug Colkitt, a quantitative trader and DeFi builder whose experience spans both traditional finance and crypto market structure. Doug began his career on Wall Street at Citigroup before moving into high-frequency trading at Citadel during the 2008 financial crisis. He later built and traded his own systems across futures, volatility products, and international equities, including running a major market-making operation in Turkish stocks. Today, Doug focuses on crypto and DeFi infrastructure, working with perpetual futures, liquidation mechanics, and exchange design. We discuss why traders still get wiped out when they think they’re hedged, how liquidation cascades accelerate, and what recent market failures reveal about leverage and market structure under stress. Links +Resources: Ambient Finance on X (Twitter): @AmbientFinance Website: https://ambient.finance Sponsor of Chat With Traders Podcast: ●       Trade The Pool:  ⁠⁠http://www.tradethepool.com⁠⁠    Time Stamps: Please note: Exact times will vary depending on current ads. 00:00:00  Intro and Background 00:03:43  Starting Individual Trading and High Frequency Systems 00:04:09  Focus on Index Futures and Competitive Markets 00:06:15  Michael Lewis's 'Flash Boys' and HFT Accuracy 00:07:00  Impact of HFT on Smaller Traders 00:09:13  Market Makers and Price Competition 00:09:37  HFT Evolution and Market Dynamics 00:11:24  Trading VIX Futures and Market Inefficiencies 00:13:08  Transitioning to Medium Frequency Trading 00:13:34  Trading Turkish Equities and Market Makings 00:15:35  Exploring Cryptocurrency Trading 00:18:32  Diving into Decentralized Finance (DeFi) 00:20:06  Arbitrage Opportunities in Crypto Markets 00:22:00  Flash Loans and Risk-Free Trading 00:22:48  Adjustments to Trading Bots Over Time 00:25:11  Criteria for Trusting Decentralized Exchanges 00:28:46  Liquidity Providing and Yield Opportunities 00:29:16  Volatility and Risks in Liquidity Provisioning 00:31:47  Understanding Perpetual Contracts in Crypto 00:36:04  October 10, 2025 Crypto Massacre Overview 00:37:36  Leverage and Market Dynamics 00:41:23  Impact of Liquidations on Market Sentiment 00:41:43  Market Maker Behavior During Crises 00:43:45  Liquidity Issues in Centralized Exchanges 00:44:53 Hyper Liquid Vault and Liquidation Dynamics 00:45:55 Market Making Strategies and Risk Management 00:49:15 Insurance Fund Models in DeFi 00:51:43 Ambient Finance Project Overview 00:53:08 Separation of Exchange and Clearinghouse 00:54:14 Innovations in Perpetual Trading 00:55:46 Takeaways from the October 10th Massacre 00:57:03 Future Plans for Insurance Fund Integration 00:58:28 Real World Assets and Crypto Integration Trading Disclaimer:  Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

    1hr 9min
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Hosts & Guests

About

Chat With Traders is your key to the minds of trading's elite performers. Start listening to learn how a diverse mix of traders went from zero to hero, how they successfully trade markets today, and get their best tips 'n pointers for profitable performance, plus much more. Note: You are responsible for your own trading decisions—this is not financial advice.

Information

  • Creator
    Ian Cox and Tessa Dao
  • Years Active
    2015 - 2026
  • Episodes
    323
  • Rating
    Explicit
  • Copyright
    © https://chatwithtraders.com/
  • Show Website
    Chat With Traders

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