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By Kevin Avery
4.8
19711,971 ratings
The podcast currently has 335 episodes available.
The most played episodes among Podcast App listeners.

Steve Quirk began his career in 1987 on the fast-paced trading floors of Chicago, surviving the historic market crash that wiped out $1.7 trillion worldwide. From navigating open-outcry pits where a trader's word was their bond, Steve transitioned into market technology, helping build landmark tools at thinkorswim and leading trading strategy initiatives at TD Ameritrade. Today, as Chief Brokerage Officer at Robinhood, he sits at the intersection of retail investing, market structure, and financial innovation, shaping products for millions of retail investors. In this conversation, Steve shares key lessons from decades in the markets, the evolution of retail trading technology, and how removing friction like the Pattern Day Trader rule is unlocking the next era of retail investing. In this episode, we explore: • Steve’s early days in the Chicago trading pits in 1987 • Why decisive decision-making and accepting being wrong 50% of the time is crucial • The transition from floor trading to building technology at thinkorswim • How Robinhood levels the playing field for retail investors and opens up global access • Managing risks: framing the absolute worst-case scenario before taking a trade • The impact of removing the Pattern Day Trader (PDT) rule for retail traders About Steve Quirk: Steve Quirk is Chief Brokerage Officer at Robinhood Markets. With over 35 years of financial markets experience, he previously led trading strategy at TD Ameritrade, developed innovative trading tools for thinkorswim®, and created the TD Ameritrade U program. Steve started his career in 1987 in the Chicago open-outcry pits across the CME and CBOE, and is a frequent market commentator featured on CNBC, Fox Business, and The Wall Street Journal. Links + Resources: LinkedIn: https://www.linkedin.com/in/steve-quirk-56148a22/ X (Twitter): https://x.com/SteveQuirk_ 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 From Chicago Pit Trader to Robinhood Exec 02:57 What Pulled You to the Market? 07:17 Trading Pits Are More Organized Than They Appear 11:51 Transitioning to Creating Technology for Retail Trading 19:01 Leveling the Playing Field for Retail Traders 21:10 Giving People What They Want 24:45 Did You Fall in Love with Scaling Robinhood Like You Did with Trading? 29:48 What Robinhood Is Doing to Teach 32:12 Early Mistakes in Trading 34:31 Advice to People from Robinhood CBO 36:44 What's Your Next Product Going to Be? 40:24 What Is the PDT Rule? 43:23 What Is a Memory That Came to Mind in Your Trading Career? 45:16 Is There Anything in Your Life That Changed Your Line of Thinking? 46:22 Your Piece of Advice to Your Younger Self 46:57 Where Can Traders Find You? 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

Jeff Holden was once a kid watching his father get laid off during a department cut, realizing early on that he never wanted to be at the mercy of unpredictable market shifts, he wanted full control over his own destiny. Today, as the Head of Trader Development at SMB Capital, Jeff has transformed that drive into a career of identifying, recruiting, and mentoring prop traders into multi-million dollar, seven- and eight-figure performers. After starting as an independent trader working to find his own way, Jeff built his philosophy around structure, baseline consistency, and rigorous risk allocation. Rather than relying on guesswork or emotional "gut feelings," Jeff developed actionable frameworks like the "ASET" protocol to help traders systematically identify edge, manage risk, and scale capital. In this conversation, Jeff pulls back the curtain on how top-tier prop traders are actually built from the ground up. He breaks down the mechanics of price action and tape reading, why scalping serves as the ultimate baseline foundation, and how traders can bridge the gap between steady baseline income and aggressively swinging the bat on high-conviction A+ setups. In this episode, we explore: • How Jeff Holden develops high-performing 7- and 8-figure prop traders at SMB Capital • Jeff’s personal backstory and how a childhood lesson in market volatility shaped his trading philosophy • Why beginner and developing traders must focus on building a consistent baseline strategy first • The "ASET" Protocol: Allocation, Stop, Entry, and Target framework explained • Matching your individual personality and trading psychology to the right archetype and strategy • Jeff’s perspective on trading discipline, daily report cards, and long-term risk management About Jeff Holden: Jeff Holden is the Head of Trader Development at SMB Capital, one of the world's premier proprietary trading firms. Having started his career as an independent trader working to find his own way in the markets, Jeff now specializes in identifying talent, building desk playbooks, and guiding developing traders along the path to consistent, seven- and eight-figure profitability. He is known for his structured, data-driven approach to risk allocation, tape reading, and team trading dynamics. Links + Resources: LinkedIn: https://www.linkedin.com/in/jeff-holden-357a1b31a/ SMB Capital Website: https://www.smbtraining.com/ YouTube: https://www.youtube.com/@smbcapital X (Twitter): https://x.com/smbcapital 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 How Top Prop Traders Find and Scale Their Edge 04:05 A Bunch of Nerds Excited About Trading 08:42 The Formula for a Trading Career: Baseline Strategies + A+ Setups 14:11 How Not to Approach Trading 17:02 Consistency First: The 4-Month Consistency Rule 19:55 How Jeff Started Trading & Why SMB Starts Traders with Scalping 25:15 Deconstructing the “Bella Scalp” 30:33 Price Action Scalping vs. Tape Scalping 36:48 Is There a Point in Time a Trade Can Be Adjusted? 40:08 The ASET Protocol: Allocation, Stop, Entry, and Target Breakdown 54:00 At What Point Do You Shut Your Computer Down? 59:22 Do the Work and Analyze What's Happening in the Market 01:11:21 The 3 Archetypes of Traders and Their Internal Self-Talk 01:16:01 Commonalities of Traders' Personalities? 01:18:38 Traits Jeff is Looking for in Traders 01:21:53 Passion is Overrated in Trading 01:24:18 Community Trading vs. Team Trading 01:28:56 The Single Greatest Thing That Developing Traders Need to Get Right 01:32:04 Where to Follow Jeff Holden & SMB Capital 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

Peter Brandt entered the commodity trading business in 1976 with ContiCommodity Services, survived years of market shifts, and turned a passion for price action into a legendary career spanning over 50 years as one of the world's premier classical chartists. After starting with Conti handling large institutional accounts like Campbell Soup Company and Homestake Mining, Peter went on to found Factor Trading Co., Inc. (now Factor LLC) in 1980 to trade proprietary capital. Author of the classic Diary of a Professional Commodity Trader and featured in Jack Schwager’s Unknown Market Wizards, Peter has spent over five decades navigating inflationary booms, market crashes, and the transition from open-outcry pits to electronic markets. Today, his edge is built on process, discipline, and classical charting principles that have stood the test of time. In this conversation, Peter pulls back the curtain on his five-decade journey, sharing the specific principles that have allowed him to navigate the markets for half a century. He breaks down why high win rates are a myth, how he caps risk at 60–70 basis points per trade, and how he transitioned from searching for quick wins to building a career as a master craftsman in speculation. In this episode, we explore: • Peter Brandt’s 50+ year journey from advertising to commodity pits and Factor Trading • Why high win rates are a myth and how the 80/20 Pareto Principle applies to trading profits • How Peter limits risk to 60–70 basis points per trade and why he never pyramids positions • Why he shuns indicators and diagonal trend lines in favor of horizontal classical patterns • Why the real edge comes from risk management and emotional control, not chart patterns • Peter's advice for the next generation on craft, capital preservation, and longevity About Peter Brandt: Peter L. Brandt entered the commodity trading business in 1976 with ContiCommodity Services, a division of Continental Grain Company. In 1980, he founded Factor Trading Co., Inc. (now Factor LLC), trading proprietary capital across forex, futures, fixed income, and equity markets. Over his career, he has managed trading activities for major institutional clients, including Commodities Corporation of Princeton, NJ. Peter is the author of Trading Commodity Futures with Classical Chart Patterns (1990) and Diary of a Professional Commodity Trader (2011), which held Amazon's #1 trading rank for 27 weeks. Featured in Jack Schwager's Unknown Market Wizards and named among the 30 most influential people in finance by Barry Ritholtz in 2011, Peter is widely recognized as one of the world's foremost authorities on classical chart analysis. Links + Resources: X (Twitter): https://x.com/PeterLBrandt Website: https://www.peterlbrandt.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 How a 50-Year Veteran Thinks About Risk Management 05:42 Wanting a Career from Trading 09:42 Taking 5 Years to Be Profitable 15:20 Don't Quit Your Day Job to Trade Until You Have a Proven Track Record 22:30 Cut Losses Short and Let My Winning Trades Run 27:00 Understand the Risk and the Probability 31:00 20% of My Trades Account for at Least 80% of My Total Profits 36:08 Sizing Is Really Important and It Is the Reason Why a Lot of Novices Blow Out 43:00 Removing Yourself from the Equation 48:30 I Don't Believe in Optimization Where You Have a Set of Rules 52:50 I Like Horizontal and Continuation Patterns 54:38 I Don't Believe in Indicators Because They're Just Derivatives of Price 1:00:00 Technical Analysis: Charts Resonated with Who I Am 1:03:20 The Time Frame I Trade 1:07:00 How Important It Is to Identify How You Trade 1:09:15 Having a Mentor 1:14:50 What Are You Most Proud of in Your Career 01:20:09 I Enter Every Trade Assuming It's Going to Be a Loser 01:26:05 Become a Craftsman of Trading 01:33:48 You Can’t Go Broke Taking Small Profits, But You Will Go Broke Taking Large Losses 01:35:40 Peter's Takeaway He Leaves to the Next Generation of Traders 01:36:14 Where Can Traders Find You 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

Paul Scott entered the high-stakes trading floor of the London Metal Exchange at just 16 years old, survived years of trading under survival-mode pressure, and turned old-school pit wisdom into lifelong success. After starting with a three-month probation and carrying the weight of his father's legendary legacy, Paul developed a disciplined approach to the most volatile corner of the market: commodities and forex. Today, his edge is built on experience and his pit logic trading approach, using price and value to guide his decisions while human behavior gives him the confidence to take the trade. In this conversation, Paul pulls back the curtain on his Survival to Success Arc, sharing the specific setups that allowed him to survive and scale through market chaos. He breaks down the fundamentals of his strategy, the open outcry framework, and how he transitioned from trading under pressure to trading with total directional agnosticism. In this episode, we explore: • How Paul Scott Navigated 30+ Years of Volatility on the LME Trading Floor • Paul’s start at 16 years old and trading under extreme physical and mental pressure • The mechanics behind his pit logic trading approach • Why Timeframe Doesn’t Matter • Why every major trade should be simple enough to explain in one sentence • How Do the Big Money Trade? • The Traits Identified in Successful Students • His advice for beginner traders About Paul Scott: Paul is a veteran commodities and forex trader known for his raw, practical approach and deep generational knowledge. Starting with the guidance of his legendary father, Harry Scott, he has documented more than three decades of trading through massive market scandals and institutional shifts. He specializes in momentum strategies and order flow behavior, focusing on the intersection of horizontal value zones and trader psychology. Links + Resources: Website: https://paulscottfx.com/ Youtube: https://www.youtube.com/@paulscott3066/videos LinkedIn: https://www.linkedin.com/in/paulscottfx/ 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 Why Technical Analysis Is Just Retail Noise 02:14 Being a Second-Generation Trader 06:36 The Pressure of Having a Trader Dad 07:48 What Was the Pit Really Like? 15:06 The Biggest Metal Scandal in History 21:00 Market Manipulation in the Digital Age 24:50 What Is Pit Logic? 31:56 Working with Goldman Sachs 37:05 Modern Retail Traders vs. Professionals 38:40 Can Traders Find Success Purely on Technicals? 44:00 Trading for a Client vs. Trading for a Company 42:55 Why Timeframe Doesn’t Matter 47:42 Explain Your Trade in One Sentence 49:39 Thinking About What the Institutions Are Doing 54:04 How Do the Whales Trade? 1:01:20 Let's Talk About Capital Preservation 1:06:17 The Traits Identified in Successful Students 1:12:27 Is There a Trade That Stands Out to You? 1:20:18 What Is Your Advice to Your Younger Self? 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

Jack Schwager and George Coyle team up to look at what it takes to master the markets, combining classic wisdom with how modern financial markets work today. After studying top fund managers and over 100 years of market history, Jack and George wrote Market Wizards: The Next Generation to showcase today's best traders. These elite performers range from everyday traders who turned small accounts into millions to steady traders who almost never have a losing month. The secret to their success is matching their trading strategy perfectly with their personality. In this conversation, Jack and George reveal the core rules that great traders follow. They talk about unexpected strategies that surprised even them, like making huge profits trading agricultural futures or shorting small-cap stocks. They also discuss why basic chart reading works better for managing risk than company fundamentals, the reality of a tough work ethic, and why the most important lesson in trading is knowing when to step away from the screen. In this episode, we explore: · How Jack Schwager and George Coyle started working together · The three timeless trading rules that top traders have used for over a century · The specific trading strategies that completely surprised Jack and George · How to balance making big returns while protecting your trading account from large losses · The main differences in managing risk between technical and fundamental analysis · The story of an anonymous multi-millionaire musician who became a legendary trader · The intense work ethic and personal sacrifices needed to reach the top level · Final thoughts on why there is much more to a good life than just trading the stock market About The Guests: Jack Schwager: Jack is the author of the famous Market Wizard series, A Complete Guide to the Futures Markets, and Market Sense and Nonsense. He is a world-known expert on trading and financial markets, famous for showing the mindset and risk management habits of elite traders. George Coyle: George is the co-author of the new Market Wizards book. He is a writer, trader, system designer, money manager, and market strategist. After studying finance at The Ohio State University, he worked for 10 years in NYC at major hedge funds, including John A. Levin & Co. and Clovis Capital. He studied applied statistics at Columbia University, worked briefly with Victor Niederhoffer, and later served as a macro strategist in the US Virgin Islands. George also worked as the Chief Investment Officer for a family office in Chicago before returning to Ohio to run his own investment firm. Links + Resources: George Coyle: https://x.com/gfc4 Jack Schwager: https://x.com/jackschwager Order Market Wizards: The Next Generation Book: https://harriman-house.com/authors/jack-d-schwager/market-wizards-the-next-generation/9781804093641 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 The 3 Timeless Rules Shared by 100 Years of Market Wizards 07:57 The First Market Wizards Book 12:13 What George Coyle Was Trying to Solve 15:59 Why It Is Better to Keep Things Simple Rather Than Complex 22:19 Making Sure Your Strategy Fits Your Personality 28:21 The Two Main Types of Profitable Traders 31:55 Finding a Trading Edge in Today's Market Landscape 37:16 Interviews That Challenged Jack and George's Core Beliefs 42:51 Where the Younger Generation of Traders Succeeds 47:07 Core Personality Traits of Market Wizards 52:24 Understanding the Reality of Market Structures 56:03 The Real Problem with Pure Fundamentals 01:01:13 Jack's Most Memorable Moment from the Next Generation Interviews 01:03:50 George's Most Memorable Moment from the Next Generation Interviews 01:04:52 Where to Follow George Coyle and Jack Schwager Online 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
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