A weekly show for systematic traders who want to make more money from their trading strategies.
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Confessions Of A Market Maker brings 20 years of Wall Street educational trading experience, coupled with entertaining stories; both in and away from the markets. The podcast is Co-Hosted by former 20 year Market Maker, JJ (@vwaptrader1) & Poker Professional/trader, Ray (@AllxDayxRayx), who are occasionally joined by guests of high esteem in the industry. Confessions Of A Market Maker has quickly become one of the highest viewed and popular podcasts in the finance/trading space.
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The first episode in a mini-series on how to create a trading strategy using backtesting.By Dave Mabe and Michael Nauss
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Confessions: Next Gen #2 - Aubrey | From ORBs to Inner Edge
49:46
49:46
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49:46On this episode of Confessions: Next Gen, AllxDayxRay sits down with one of our longest-standing room members Aubrey, aka “orb’rey.” Aubrey started out chasing opening range breakouts, but over the years, his game has matured into something deeper, more nuanced, and more personal. We talk trading philosophy, evolution, mistakes, process review, and…
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We discuss Dave's recent experience using ChatGPT to create the Strategy Cruncher, a tool for optimizing your trading strategies. Prediction market for who will have the best AI model by the end of the year.By Dave Mabe and Michael Nauss
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What Metric Should You Be Optimizing For?
47:53
47:53
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47:53Every trader has an opinion on what the perfect metric is to evaluate a strategy and to optimize on. We discuss our favorites and why.By Dave Mabe and Michael Nauss
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How Far Back Should Your Backtest Look Good?
46:21
46:21
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46:21"If your backtest looks great for the last 3 months, why do you care what it looked like before that?" A trader Dave started coaching recently asked this question. The answer cuts to the core of why most traders give up on a trading strategy and end up quitting trading altogether. The Spurious Correlations website that was mentioned in the podcast.…
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Confessions: Next Gen #1 – Pierre | From Discord Trader to Risk Analyst
44:52
44:52
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44:52In this debut episode of Confessions: Next Gen, we sit down with Pierre—a spirited young trader who went from lighting up Zoom happy hours to landing a job at Apex Fintech as a risk analyst. Known for his aggressive trading style and larger-than-life personality, Pierre reflects on his early days in trading, what he learned from multiple blow ups, …
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You've got a lot of ideas, each requiring a certain amount of work. How do you decide what trading ideas are likely to pan out? Improving an existing strategy Creating a new strategy Related workflow tasks The ICE MethodBy Dave Mabe and Michael Nauss
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Episode #130: Grant Cardone on Real Estate/BTC Fund, Never Touching Stocks & Trump Tariff Playbook
1:04:42
1:04:42
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1:04:42In this episode of Confessions of a Market Maker, Ray and JJ sit down with legendary real estate mogul and 10X entrepreneur Grant Cardone for an unfiltered conversation on wealth, risk, and navigating the shifting terrain of American business. From building a Bitcoin-backed real estate fund to his lifelong refusal to touch the stock market, Cardone…
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We discuss the most common objections traders have to using automation and how to get over the hump.By Dave Mabe and Michael Nauss
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A follow-up on our previous interview with Jared Tendler where we go deeper into: the role of optimism in trading poker and trading learning from top performers in non-trading fields A chart of earnings season: https://www.davemabe.com/earnings-season/By Dave Mabe and Michael Nauss
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This week, we interviewed Jared Tendler, a mental coach for traders, poker players, and golfers. Jared has written several books, including The Mental Game of Trading. This was a wide-ranging interview where we discussed: The mental side of systematic trading How poker and trading are similar and different What traders can learn from top performers…
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Should You Turn Off Strategies On Crazy Days?
36:45
36:45
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36:45When the market is raging in a way that's far out of the ordinary, should you turn your strategies off? Or let it be business as usual? We discuss the things to consider.By Dave Mabe and Michael Nauss
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Turning A Trading Weakness into an Advantage
39:02
39:02
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39:02We discuss how Dave turned a trader's frustrating bad habit into a positive workflow for creating new trading edge. This is a great case study for the power of a positive mindset and a desire to get better.By Dave Mabe and Michael Nauss
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You're trading a strategy - you're comfortable with the number of trades. And then BOOM - one day the entire market is moving and your system generates 10x the number of trades it normally does. How do you react? Michael and I discussed the first time this happened to me and how best to respond to prepare for the next time.…
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Do you let the quest for perfection get in the way of trading success? It's more common than you might think. We discuss where this tendency comes from and how to let go of it to make progress in your trading. "From the surface, every rabbit hole looks like a pile of money." - Dave Here's a link to the book Michael mentioned: Golf Is Not A Game Of …
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Episode #129: Steve Quirk of Robinhood on Prediction Markets & The Evolution of Markets
47:24
47:24
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47:24Chief Brokerage Officer at Robinhood Markets. Prior to joining Robinhood, he oversaw the strategy and deployment of initiatives for Trading at TD Ameritrade, He also served as a member of the company’s Senior Operating Committee, which shaped the strategic focus of the organization. Our guest also focusing on teaching the next generation of investo…
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Make Trading Real when Things Are Going Well
24:21
24:21
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24:21When you're trading part-time and doing well, your trading can seem almost like a video game. Here's actionable thing I tell the traders I coach to do that keeps them motivated to improve even when their trading is going great.By Dave Mabe and Michael Nauss
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By Dave Mabe and Michael Nauss
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If there's one thing profitable traders do consistently, it's keeping track of their results. Winners keep score! We discuss the do's and don't's of journaling and the things you can safely skip because they're a waste of time.By Dave Mabe and Michael Nauss
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What NOT To Automate In Your Trading Business
32:44
32:44
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32:44Just because you CAN automate doesn't necessarily mean you SHOULD automate it.By Dave Mabe and Michael Nauss
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By Dave Mabe and Michael Nauss
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Book on Kelly Criterion: Fortune's FormulaBy Dave Mabe and Michael Nauss
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You finally have a serious trading edge. And you know it. How should you think about sizing up?By Dave Mabe and Michael Nauss
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Dave's article on partial profits: Should You EVER Take Partial Profits? Dave's Strategy Corner monthly column at TASC Magazine Social Desirability Bias - why bad ideas get traction Best Loser Wins - book recommendation from MichaelBy Dave Mabe and Michael Nauss
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Several months ago, Dave decided to leave Trade-Ideas to focus on trading and coaching. Dave discusses why he left, making big decisions, and focusing on trading.By Dave Mabe and Michael Nauss
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Dave discussed a mistake one of his coaching clients made, how he responded to it, and the changes to his trading process as a result of it. We discuss the critical pieces of your coding workflow that most traders overlook as well as a novel use of Trade-Ideas and Amibroker to create a very efficient trading workflow.…
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Books mentioned: Give and Take by Adam Grant Never Eat Alone by Keith Ferrazzi The Art of Gathering by Priya ParkerBy Dave Mabe and Michael Nauss
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Links mentioned in this episode: Brett's drawdown in the 80's: After a Devastating Loss Brett's Traderfeed Blog: https://traderfeed.blogspot.com/ Brett's Books: The Psychology of Trading Enhancing Trader Performance The Daily Trading Coach Trading Psychology 2.0 (Coming soon!) Positive Trading Psychology (title tentative)…
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There are big changes on the trading horizon as 24-hour trading is becoming more and more a reality. We discuss how this will affect the markets, what cues we'll be looking for to capitalize on it, and just how important these changes really are.By Dave Mabe and Michael Nauss
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In a follow-up to last week's interview with Marsten Parker, Dave and Michael discuss the key to being successful for a long period: adapting. Whether successful traders realize it or not, they'll eventually have to completely reinvent what they do to stay relevant. Annie Duke's book Quit: The Power of Knowing When To Walk Away.…
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We talk with Marsten Parker who was highlighted in Jack Schwager's Market Wizard book series and the creator of the RealTest backtesting software. We discuss the process of creating trading strategies, adapting them over time, and completely reinventing yourself as a trader. Links: RealTest Backtesting Software Unknown Market Wizards by Jack Schwag…
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How many monitors should you have? What chart platform should you use? "A lot of indicators on a chart is a sign of mediocrity." -- Dave Software mentioned: Interactive Brokers Amibroker eSignal Free email course on backtestingBy Dave Mabe and Michael Nauss
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Trade-Ideas OddsMaker Amibroker RealTest QuantConnect Michael's RealTest Coding Helper: https://chatgpt.com/g/g-5AvG9XdDY-realtest-coding-helperBy Dave Mabe and Michael Nauss
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What is a regime filter and is it useful? That's the question we discussed on this episode - Michael and Dave have completely different approaches. Here are links to articles referenced in the episode: Why I Ignore The Overall Market When I Trade Why I Avoid Overall Market Filters in Strategies Is The Market Really More Likely To Continue As The Ga…
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A listener asks how he can remove 30% of the trades he's taking in his trading strategy that he knows are hurting his results. Are you interested in Backtesting but don't know where to start? Learn the basics with Dave's free email course.By Dave Mabe and Michael Nauss
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Episode #128: Andrew O'Connell US Investing Champion on Early Trading Struggles, Trade Sizing & Risk
1:10:44
1:10:44
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1:10:44US Investing Championship 2023 top performer with a gain of+103.5%. Currently leading this years 2024 competition with a whopping 409% as of date of recording. He’s a fundamental & Technical Analysis. Founder of Pristine Capital. Confessions of a Market Maker presents Andrew O’Connell. ---------------------------------------------------------------…
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Is Limited Time For Trading - A Good Thing?
32:24
32:24
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32:24Many traders come to me with a single complaint - I wish I had more time to devote to my trading. It takes me back to my early days when I had the same thoughts! It wasn't until several years of hindsight that I realized that having limited time for trading... is a good thing. We discuss why that is and how you can turn limited time into a positive…
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Dave and Michael discuss several ways to incorporate news into a technical trading strategy.By Dave Mabe and Michael Nauss
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Dave and Michael discuss the implications of the research from the previous episode. If financial social media is so predictably wrong, how can traders use it? Should they use it at all?By Dave Mabe and Michael Nauss
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Interview with Seyed Kazempour, Author of Finfluencers
45:59
45:59
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45:59In our first interview for the podcast, we talked with Dr. Seyed Kazempour about his paper called Finfluencers. It's a fascinating paper based on research on StockTwits. The conclusion? The more followers someone has on StockTwits, the worse their market predictions. We discuss the implications of this research for traders. Here's a link to the Fin…
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Episode #127: Anthony Pompliano on Economic Data, BTC Volatility & How To Live An Extraordinary Life
49:25
49:25
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49:25Founder & CEO of Professional Capital Management. He has built and sold a number of successful businesses, while also investing in approximately 200 companies. He created and manages one of the largest independent financial media platforms in the world. Published author of the “How to Live an Extraordinary Life”. Confessions of a Market Maker Prese…
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Dave discusses a turning point in his trading career when he realized his trading system wasn't as systematic as he thought. His discretion had drifted over time, changing how he approached trading from that point forward.By Dave Mabe and Michael Nauss
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How do you decide what to work on next in your trading? How do you know what's likely to actually improve your results? Dave and Michael discuss a framework for prioritizing strategy development work given your limited time and resources.By Dave Mabe and Michael Nauss
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Dave and Michael discuss their processes for recording trading ideas and the software each of them use.By Dave Mabe and Michael Nauss
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