On this episode of the Words of Rizdom podcast we are joined by David Hale. David is a veteran trader and ex-prop firm owner that has been trading since the early 2000's. David's unique approach to trading is described in his book 'Reminiscences of a Day Trader' as "Possessing the key to a magical and highly secretive trading method". These are the methods that allow top traders to gorge on fat profits while the masses are fed generic technical methods from their gurus on Twitter and YouTube." David's incredible journey saw him become a multi-millionaire in his mid 20's to losing everything, earning $10 an hour and sleeping on his father's couch. This is an incredible episode so I hope you guys enjoy!

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David’s X Profile: https://x.com/creamtrader

David’s Website: https://www.david-hale.com/

David’s Book US: https://a.co/d/fBDzbg5

David’s Book UK: https://amzn.eu/d/0aWBn9NB

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Riz’s Instagram: https://instagram.com/wordsofrizdom

Riz’s Twitter: https://twitter.com/wordsof_rizdom

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I hope you all enjoy this episode, let me know who you'd like to see on the podcast. 🙏🏽

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Timestamps:

00:00:00 - Introduction

00:04:34 - From Gambling to Trading

00:09:04 - The Importance of Trading Environment

00:13:16 - Profit Splits for Traders

00:17:19 - The Importance of Executing a Strategy with Edge

00:21:34 - Discipline and Adaptability

00:25:51 - The Importance of Discipline in Trading

00:29:50 - Glitch Trading: Taking Advantage of Inefficiencies

00:34:13 - The Debate on Algorithms in Trading

00:38:35 - Taking Advantage of Volatility in Trading

00:42:49 - The Appeal of Glitch Trading in Equities and Crypto

00:47:06 - Finding Gems on YouTube

00:51:27 - From Millionaire Trader to Financial Collapse

00:56:14 - Surviving Rock Bottom as a Trader

01:00:52 - Trading During Volatility Spikes

01:05:16 - Adapting to Different Markets

01:09:25 - Getting Your Head Straight Before Trading Again

01:13:53 - The Pain of a Trade Out of Control

01:17:55 - The Importance of Confidence in Trading

01:22:09 - The Dangers of Quitting a Job for Trading

01:26:15 - Be Careful with Online Trading Resources

01:30:30 - Barriers of Entry and Traits of a Trader

01:34:32 - The Importance of Strategy with Edge

01:38:55 - The Reality and Dangers of Trading

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DISCLAIMER: I am not a financial adviser. The videos on my channel are for educational purposes only

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