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.
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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