Episode 62 ... @chigrl (41:02) [recorded May 2016]
- International relations major, Middle East focus
- Sold medical supplies, "medical grade plastics," hated it, was living in Newport Beach
- Quit job, moved to Chicago [what year was this?]
- Knocked on every possible door
- Begged for first job at a boiler room, later shut down by NFA
- Nobody wanted to hire a woman
- Making 200 calls a day trying to get Mom and Pop to part with 10 grand to trade options [laughing]
- Her Dad was a commodities trader
- Wanted to learn the industry from the inside out
- Went from working as broker to working on trading floor
- Clerked for Fed Funds trader
- Moved to grains floor, was head of trading desk, when Fed Funds went to zero
- Then moved to bonds floor
- First ticket she ever wrote she wrote backwards, ended up being a 30K winner
- Left the floor in 2012, started trading for prop firm, got funded
- Being a prop trader forces you not to do "stupid shit" ... someone is watching you
- She is an intraday, technical trader, but also has fundamental knowledge of oil market
- She has a system, makes the same trade over and over again
- Your worst enemy is your own head
- If you have a system where you always take the trade, can take your head out of the equation
- Rotation levels, Fibonacci, volume profile, footprint -- these are what she uses
- Fell in love with oil market, has traded for ten years straight
- Doesn't trade crude during Asia hours ... too illiquid, a 50 lot can move the market
- Crude is a "manic" market ... trades fast
- She's a market junkie ... 120 hour work week in front of the screens
- After ten years of trading, you can "go with your gut" ... but not at the beginning
- Government websites, esp. EIA, full of good information
- Follow her Twitter stream since she tweets all the best information
- [She has a smoker's laugh ... wonder if she smokes?]
- Supply-demand drives the oil market, it's simple
- Day traders trade what's in front of them, not the macro view
- Twitter is invaluable, there are experienced traders on there, only dicks don't reply to your questions
- Start with a mini contract
- Have to find a system that works for you
- Don't be afraid to lose money in the beginning
- Successful traders don't care if you have two followers, they'll answer your questions
- Key skill good traders have: patience, they wait for the market to come to them, they don't overtrade
- She has a swing trading account and a day trading account, separately
- Twitter: @chigrl