274 · Keeping the Lost Art of Order Flow Trading Alive w/ Gary Norden

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A humble beginning as a gopher in the intense trading pits of Japanese warrants was shocking for Gary Norden when he was a teenager. As this volatile market was beginning its meltdown, Gary saw how easily star traders lost immense amounts of money as past overconfidence and sloppy risk control undid their previous gains. This impressed upon Gary the importance of a risk averse stance to keep himself in the game. Practicing Order Flow Trading, hundreds of times per week, gives Gary the edge in this lost art.

About Gary Norden:

Gary’s trading career has spanned more than three decades. From being given his first derivative trading book by a Japanese Investment bank at the age of just 18, Gary went on to become a senior trader at a number of Global Investment Banks including NatWest Markets and ING Markets. In the mid 1990s he also spent many years in the trading pits of LIFFE as a ‘local’ option market maker.


Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice.

Topics & Timestamps:

Please note: Exact times will vary depending on current ads.

  • 0:00 Introduction
  • 4:45 Trading in the pits and its challenges
  • 6:55 Getting trained to trade warrents and options
  • 9:45 Mistakes traders made
  • 13:50 Getting enough education
  • 17:15 What causes star traders to loose their edge
  • 20:13 Order flow trading
  • 25:46 Picking off the weak players
  • 29:55 Rise of automation has led to a decline in skills
  • 35:00 Issues with holding trades longer than a few seconds
  • 39:45 HFT’s and their dangers
  • 44:10 Meme stocks and the crazy high IV’s
  • 49:25 Short squeezes
  • 54:55 Running a hedge fund
  • 59:05 Types of markets hedge fund involved in
  • 1:04:00 What Gary struggles with most as a trader
  • 1:06:10 How to reach Gary

Gary Norden

Links & Resources

  • Website: https://garynorden.com/
  • Website: https://nordenmethod.com/
  • Website: https://learnoptions.net/ (free basic options course)
  • YouTube: https://www.youtube.com/channel/UCyhuEif33w7uZd48lG66qEQ