054: Rishi Narang – Components of a Black Box, Humans Versus Computers, and High Frequency Trading

Liam Vaughan is a finance author and senior reporter for Bloomberg. His latest book Flash Crash tells the story of Navinder Singh Sarao, a London trader, living at his parents house, who made ~$70M from his bedroom and was later accused by the U.S. government of playing a role in the 2010 Flash Crash. For anyone unaware, this was a deeply perplexing event in which the U.S. stock market, one afternoon, plunged approximately 9% and then almost completely rebounded, all in the space of just 30-minutes. While Liam speaks on many interesting moments from Nav’s life in this episode—from beginning as prop trader in 2003, through to when he was extradited to the U.S. in 2016—it’s only a sample of what’s covered in the book (an absolute must-read!) Learn more about your ad choices. Visit megaphone.fm/adchoices

8 Touko 202054min

Returning guest, Greg Newman, is a founding partner and the CEO of Onyx Commodities—a London-based proprietary trading firm, prominent in market making of oil derivatives. This episode focuses on recent events pertaining to the global oil market. More specifically, Greg talks through; key themes impacting prices, supply and demand dynamics, why Crude and Brent futures alone aren’t entirely a true reflection of the oil market, how lower prices affect producers and corporates, etc. Given the subject matter, this episode won’t be for everyone—it’s very specific to oil. But if the energy sector interests you, believe me, Greg’s an incredible wealth of knowledge. Episode recorded: 2nd April 2020. Learn more about your ad choices. Visit megaphone.fm/adchoices

21 Huhti 202054min

As we’ve seen making headlines recently, reserve banks around the world have been adding liquidity to the market in an effort to stabilize economies. While some listeners will already understand how reserve banks conduct these operations, I figure there will be others who don’t completely grasp what takes place below the surface… To get clarity on the subject, I kindly asked Kevin Muir to appear on Chat With Traders for a second time and to explain the actions of reserve banks during this market downturn. Because, in my opinion, Kevin has a gift for analyzing and explaining complex subjects in a way which is easy to follow. Kevin was a derivatives trader for a Canadian bank during the 90’s, and has been an independent trader from 2000 onward. He also writes a brilliant financial newsletter, The MacroTourist, and co-hosts The Market Huddle podcast. Learn more about your ad choices. Visit megaphone.fm/adchoices

7 Huhti 202041min

This is an episode to cover the extreme volatility in markets, following the recent outbreak of coronavirus… Joining me is Nishant Porbanderwalla, returning for a second time on Chat With Traders and here to discuss how he’s been navigating through the turmoil of a global pandemic. Nishant is a proprietary equities trader at Kershner Trading Group, with well over a decade of experience behind him. For the purpose of a timestamp, please note this conversation was recorded immediately after the U.S. close 18th March 2020. Learn more about your ad choices. Visit megaphone.fm/adchoices

23 Maalis 202037min

In a recent episode, I mentioned that I'd be doing a few more interviews with less-experienced traders, who begun with $20,000 or more, have completed 12-months of full-time trading and are making a real effort to get better. Here's another one in the series... My guest is Christian Castillo, he resides in California and trades the foreign exchange market using methods of technical analysis. Although Christian is relatively fresh as a trader, he put up—what I would consider to be—a solid first year. He made money 9 of 12-months, and finished 2019 with a profit just shy of $20,000. We speak about Christian funding his account from driving Lyft, his experience going full-time (favorable and adverse moments), the premise of his trading strategy, the forex market in general, among other things too. Learn more about your ad choices. Visit megaphone.fm/adchoices

17 Maalis 20201h

Welcome back, as we continue from where we left off last time—here's the Best of Risk Management, Pt 2. Again, this is a compilation of highlights from past interviews, all of which are applicable to managing risk and staying in the game. My hopes in compiling this 'best of' episode is that you'll have a go-to reference for anytime your risk controls require attention, as well as drawing your focus to a few episodes that may have gone unnoticed. If you'd like to hear the full interview with any guest featured, you'll find the link in the show notes: chatwithtraders.com/189 Learn more about your ad choices. Visit megaphone.fm/adchoices

28 Helmi 20201h 10min

After sifting through the archive of near-200 episodes, I’ve compiled some of the best bits pertaining to risk management. As there were many bits I deemed fitting for a ‘best of’ episode, it made sense to split the compilation across two parts—this is part one, and part two will follow next (Episode 189). The idea behind creating this compilation, is to reinforce the instrumental role that risk management plays in a traders’ ability to stay in the game. It can also serve as a go-to reference for anytime you find trading loses getting out of hand. One other reason, is to highlight some past interviews which you have missed or skipped over. If you’d like to hear the full interview with any guest featured, you’ll find the link in the show notes: chatwithtraders.com/188 Learn more about your ad choices. Visit megaphone.fm/adchoices

12 Helmi 202055min

I recently had an idea, I thought it may be an interesting exercise to have a few less-experienced traders on the show. On Twitter, I wrote that I’d like to chat with someone who: 1. Has just completed their 1st year of full-time trading 2. Started with a minimum of $20,000 3. Is or isn’t profitable (not important), as long as he/she is taking deliberate action to improve From this tweet I received many DM’s for consideration, and after filtering through them, I’ve asked several people who fit this general description to share their experiences on the podcast… The first cab off the rank is Josh Evans; 30-something years of age, living in Melbourne (Australia), and actively trading ASX equities. This conversation with Josh follows his progression from newbie investor to intraday trader—including his motivation and preparation for going full-time. A few specific things which have helped Josh to get his equity curve pointing in the right direction. Plus, deliberate processes Josh has implemented for improvement, one piece of advice he received that made a difference, and that’s not all! Learn more about your ad choices. Visit megaphone.fm/adchoices

24 Tammi 20201h 5min