This weeks guest is Matt Zimberg – the founder of Optimus Futures, a boutique brokerage firm.
Matt has been deeply involved in the business of trading since his early 20’s, and while he’s no longer an active trader – he is extremely insightful on the subject. Keeping in mind, he has extensive conversations with many traders every day; from absolute beginners to those trading 7-figure accounts and upwards.
In particular some of the topics we covered during this interview, include; the make-up of a successful trader, why professional trading should be boring (you hear it all the time, but Matt does a really great job of explaining WHY), some tips and pointers for selecting the right broker, and much more.
“Recognizing when you’re wrong is the key.”
“The last thing you want to resort to in trading is hope.”
Lessons learnt in this interview:
- Why good traders typically have the ability to find order in chaos, and have done something successful in other areas of life – building a method around success.
- Common misconceptions about experienced traders; Matt explains that many still experience psychological challenges, and actually trade unsophisticated methods.
- How to go about developing your own methodology, and the three building blocks that should be understood. Plus, the downside of imitating others.
- Exploring the topic of returns – how to manage expectations, and how independent traders differ from large Wall Street hedge funds.
- Matt discusses the overlap between trading and gambling, the actions that will put you at risk of ruin, and why professional trading should be boring.
- Tips and pointers for finding the right broker, and what you should take into consideration when thinking about commissions and other transaction costs.
Links and resources mentioned:
- OptimusFutures.com – To learn more about Matt’s brokerage firm; Optimus Futures, you can visit their website. Or to contact Matt directly, his email address is [email protected].
- Why Professional Trading Should Be ‘Boring’ – Here’s the Optimus Futures article that was referenced during the interview, on the topic of gambling versus trading.
- @OptimusFutures – Also be sure to follow Matt and his team on Twitter!
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