You may recall, for episode 25 I invited Zach Hurwitz back (after being a featured guest on episode 011), to grill me about my own trading progress. We’re now another 25 episodes on, so I figured it’d be a good point to share another update on how I’m tracking…
To do this, Zach joins me again for the milestone of 50-episodes. The first part is mostly Zach asking questions for me to answer, then we switch it up, and during the later part I fire questions at Zach to answer.
Pretty much every question asked during this episode has been crowdsourced, so if you contributed a question last week, then there’s a good chance you’ll hear it asked at some point.
Since recording this episode, Zach has released a free eBook that goes further into VWAP and how he incorporates it into his trading: Download here
Topics discussed during this episode:
- Zach asks me to give a thorough update on my own trading development and progress, going into algorithmic trading.
- The commonalities between many of the traders I’ve interviewed, and a few key realizations from the past 25 episodes which stay on my mind.
- How your beliefs change between knowing nothing about markets, to knowing significantly more (with the added benefit of real experience).
- Tips and pointers for effective journaling practises and review – what you should include beyond the prices you buy and sell.
- A guide to structuring your study in the early stages of your trading career, and what to do if you have limited resources, i.e. time and/or money.
- Zach speaks about what he ‘stopped’ doing to become profitable, rather than what he ‘started’ doing to become profitable. Take note!
- How to find stocks that match your criteria, and the three layers of scanning you need to understand: Universals, Conditions & Triggers.
- What markets are best suited for VWAP, and even though it’s often used intraday, Zach shares how this institutional indicator can be used across multiple timeframes.
- How to think about your exit strategies (getting out of positions), and the benefit of being very clear on what type of trader you are.
- Plus, so much more…
Links and resources mentioned:
- Full list of previous CWT episodes – There were many past episodes and guests mentioned during this discussion, you can find links to all of them right here.
- The Numbers You Wish You Knew About Your Own Trading – Zach brought up the topic of Monte Carlo simulation, if you’d like to learn more about it I encourage you to read this brilliant article by Fil Lorinc.
- Codecademy: Python – In my effort to learn the programming language Python, this was one of the courses I found very helpful; it’s totally free and the interactive aspect is great.
- Udemy: Complete Python Bootcamp – Another great course for learning Python, while it covers similar ground to the Codecademy course the different delivery format helps to drive home the foundations of this language.
- Reminiscences of a Stock Operator– Referenced by Zach, the semi-fictional biography of legendary trader, Jesse Livermore by Edwin Lefevre.
- Why Most Traders Never Succeed – Zach is one of 18 traders featured in this premium CWT eBook, explaining the key reasons why most never hit the big-time.
Connect with Zach Hurwitz:
- [email protected] – To contact Zach, send him an email at this address.
- @ZachHurwitz – Be sure to follow Zach on Twitter, he assures us he’s becoming much more active…
- TheVWAP.com – While this is still a work in progress, it’s home base for Zach, and you can find a bunch of links and resources on his website.
Connect with Aaron Fifield:
- [email protected] – If for any reason you’d like to drop me a line, you can catch me at this email address.
- @ChatWithTraders – Make sure you follow CWT on Twitter, I often recycle past interviews and share anything I find interesting.
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