The Ultimate Day Trader, Pt. 3 · Lance Breitstein
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- čas přidán 29. 06. 2024
- EP 236 | The Ultimate Day Trader, Pt. 3 · Lance Breitstein
The promised and much-anticipated follow-up interview…
Lance was formerly a Senior Trader at proprietary firm Trillium. He earned the rank as ‘Top Trader’ in 2020 and 2021 with consecutive 8-figure years, also setting the firms’ all-time PnL record.
While Lance appeared on the podcast only a few months back, the interview was recorded a few years back. However, this interview is very recent, it was recorded 13th June 2022-after Nasdaq declined 4% on the day, sparking initial comments about market context.
Our discussion primarily revolves around several core trading concepts that have greatly attributed to Lance’s outstanding performance. Furthermore, Lance shares wisdom on bet sizing and methods to accelerate your learning curve.
00:00 - Intro
02:00 - Market Context
09:10 - Trading 2020-21
17:37 - Broken Slot Machine
29:29 - Right Side of the V
46:00 - Channel Fundamentals
48:38 - Exponential Bet Sizing
1:00:00 - Accelerated Learning Curve
1:16:28 - Outro
The Ultimate Day Trader, Pt. 1:
• The Ultimate Day Trade...
The Ultimate Day Trader, Pt. 2:
• The Ultimate Day Trade...
Show notes:
chatwithtraders.com/236
#DayTrading #StockTrading #Podcast
The Ultimate Day Trader, Pt. 1: czcams.com/video/a3wL0OktSrA/video.html
The Ultimate Day Trader, Pt. 2: czcams.com/video/d3mmLd_VO0w/video.html
Please interview a trader called Micheal J huddleston also known as Inner Circle Trader
I've repeatedly listened to Lance's interviews and every time, I glean new insights. He's not only an exceptional trader but also a remarkable speaker and educator. The way he explains his strategies, mindset, and advice for novice traders is remarkably relatable and comprehensible. While your content featuring a diverse range of traders is commendable, Lance's interview stands out as the most exceptional. His abilities are truly multidimensional. Thank you, Aaron, for making a meaningful impact."
You guys are the real mentors to us traders that don't have anybody to teach us and it's for free. Thank you so much for this!
This was amazing. Betting higher hands on A+ setups is something I want to practice. I fully comprehend it’s like swimming across the pool the first time.
well put.
"Doubt and discomfort is the cost of growth" that is golden.
So, I’ve listened to Lance’s interviews so many times and learn something new each time. He’s a prolific and talented speaker and teacher let alone mega trader. There’s something about the way he describes his strategies, mindset, expectations of a novice trader, that just make him so relatable and easy to understand. All of your content is so great and really love the breadth and diverse traders you feature…but Lance, to me, is by far and away the best interview series you’ve ever had. He’s a gifted man in all the ways. Really enjoyed Chris Cady too. I think I am at that point in my trading journey where both of them were just exactly what I needed to hear. Thank you, Aaron. You are making a difference.
Oh man, I absolutely love hearing this guy’s responses. Fantastic questions too, Aaron. This one will definitely be a multiple repeat listen. Can you just set up a regular monthly chat with Lance?😆
This is your best interview by far! This guy is dropping gems. He is legit.
Thanks for this audio interview with Lance, Aaron. Really appreciate it...
Greatest information available for traders hands down. So good im surprised it doesn't come at a cost. I could argue the info that lance provides along with Aaron's excellent questions this one interview could be all that s trader need for massive massive success if you listen over and over and actually implement the strategies talked about.
Listened twice so far and still finding gold. Lance is an amazing human being and Aaron is a genius.
listened to all 3 today, thank you to both, thoroughly enjoyed
Never been so excited for an episode
really golden nuggets from 49:00 and from 57:50: to end of video.
listen to this atleast 10 times. I have found my edge but struggling to implement it. Hope to come back in the future and comment the result.
Section on exponential risk for A+ setups was huge. Amazing podcast. Mind blown! 🤯
Such an AMAZING interview.. Lance is throwing gems!! ♦️ 💎
Great episode thank you both!!
this is what longevity professional career looks like. thank you so much for sharing these nuggets as these are daily reminder no matter how much money you make. Thank you Both! Thank you Lance!
only episode needed for newbies to know all about trading.
Lance is legit. Love his contents on CZcams.
Boom! Thanks Aaron, great work!
Thanks for this gem! 🙏🏾
Loved this!!
Great Interview, Thank you
Awesome stuff, love how you explain buying after breakout vs on a pullback , higher probability
Great
General
1. Market Context / Position Sizing
2. Psychology / Learning Process
Enjoyed the video guys! Thanks for putting this together. 👍👍
Love these guys
Incredible episode!!!
BRILLIANT INTERVIEW
I needed to hear some of that. Thanks.
Lance Breitstein man. Genius.
Great stuff!
Thank you so much both of you for such invaluable content 🙏🏼 forever grateful to you Aaron for opening up a channel like to help developing traders who are really serious about the craft. And thank you lance you are the best, you have changed the trajectory of my trading career 😀 🙏🏼
Love from India
very practical stuff. cool.
great talk ...helpful....
I like Aaron reaction "hmmmm" after every answer from Lance :)
Controlling your environment being more important than willpower. Willpower is immensely difficult to control
Think in probabilities and always evaluate your process in the context of expected value because every decision / change affects probabilities and expected value.
Every moment during a trade, do your choices only attempt to satisfy the goal of a win or avoiding a loss this time? Then you may be falling for random rewards. Insidiously, we want to do this instinctually.
But once your decisions start to be made win, lose, or draw, beyond just this trade, keep going. You’ve made it past one of the biggest mental hurdles and that elusive edge is closer now.
52:00 Exponential Bet Sizing Numbers Crunched!
Yes!!
we need that part 4
22:00 Even though it's a little insensitive, what Timothy Sykes said on here a while back is the true nature of the game.
"If your primary goal is to win, who would you rather play a game of pick-up basketball against? Michael Jordan or a midget?"
DO. WHAT. WORKS.
The timing of this video 👌 capitulation inbound
Awesome!! You Haveee to get Al Brooks on!!!
🔥🔥🔥
Lance, the MSTR-Bitcoin example is not a valid example. MSTR is heavily leveraged on BTC; if Bitcoin went another 25% lower their company would be near-bankrupt and the share value could reflect that.
Aaron, Lance phenomenal 3pt. series. And I thought Lance was with SMB Capital?
Expected value for us can be simplified as 'Risk x Return x %wr'
1:07:00 What To Do When You Start Being Consistent...
Is shorting the pops a good play? I haven't seen gains hold for to long mayb a day then back down
THEONELANCEB indeed!!
#3 - precious
👍
I believe in specialization but broken slot machine consept seems interesting too. I personally work better focusing on one.
Decent & sweet,This is alluring
When everything alligns its time to go the opposite way.
what time frame is he waiting for the V?
I have a question please. What is realistic yearly return in percentages for someone who risks 0,5 or 1% per trade. 205?, 120%?, 1000%?
It simply depends on where you are in your journey and the opportunities that you’re exposing yourself to. You’re only as good as the tickers you trade.
@@buffettsthirdeye all of this are not good answers. If i asked a F1 driver what is the average time pro formula 1 driver does on hungaroring they would tell me around 1:30 +-5 sec, all this is bs answers. Looks to me like no one is profitable, and that is the reason they give you these answers. If Buffet sometimes cant beat the index, why would daytraders earn 200% per year, some say month...
Must have hurt to cop that Aussie accent comment!
1:03:00
A Good Trader but short on knowledge on Fundamentals ,Macro Environment and Financial Markets,. Enjoyed just the same! *The small Crypto Market Value has zero bearing on the Equity, Futures, Bonds or REITS which are massive markets in value.
Stop on TSLA must have certainly been hit not long after podcast recording.
your performance is a lagging indicator of your habits LMAO will print it out
Markets are going down (at best moving sideways)Now is probably the time to build wealth in India 🇮🇳 Started as Beginner with over $3000 and so far so good I’ve been able to make over $82,000 in the space of 4 months with the help of Sir Jeff Murphy and his compound interest strategy of DCA
Telegram id
Jeffmurphyfx
Can anyone reccomend a good trading course to take?
I believe the above comment section can reach
It depends what kind of trading you want to do.
Dabble around in paper money and find what you like, then seek mentorship.
Stay away from the fake Brian armstrong comment
There is none its not that easy....
Stockbee is good.
These are semi-useful interviews, to understand the psychology of the top traders.
However, without a screen share, or more specifics on core signals they look at (eg. advance/decline, cumulative tick, market profile, TPOs, relative volume, etc) it's basically just two people talking about their feelings
Agreed. He says alot without really saying anything. He never really answered what does your morning routine look like.
No profitable trader is going to give away their edge.
@@24hrdiner exactly! All the SMB capital videos are just aimed at getting you to sign up to their options course. They have a very slick sales funnel and process. I lost respect for them when I realised they are preying on unsophisticated people to sign up for a $2000 course . I watched the 2 hour sales pitch and the course teaches you nothing that I can't get from the $20 options book I have sitting on my desk
❤❤❤❤❤🤑🤑🤑🤑🤑🤑👏👏👏👏👏👏
Day 46 of asking for Crypto Kirby 🙏🏻
what are you actually discussing in this interview ?!! its like a mish mash of randomness
One bad loss on a A+ trade can wipe your account right out and it can be game over.