How Gary Norden Earned The Coveted Red Jacket At London Futures Exchange | SPECULATORS PODCAST EP 13

Gary Norden is a Hedge Fund manager who not only earned the coveted Red Jacket of the London International Financial Futures and Options Exchange, but also led the derivatives desks for some of the world's largest investment banks in a career that has spanned over three decades.
HERE'S WHAT WE COVER:
01:46 Introduction to Gary Norden
06:37 Fund trade structures
12:44 Gary's Backstory
22:08 Getting into a new position
29:19 Going against another trader
36:12 Learning from the mistakes
48:42 Next step of the learning curve
54:05 Leaving the trading floor
01:07:59 Starting a Hedge Fund
01:17:10 Learning Technical Analysis
01:33:48 The rise of technical indicators
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-Korbs
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[@korbstrading]

If you liked this video, you might like the Speculators Podcast Newsletter even more 🍻🍻: go.tradacc.com/Speculators-Newsletter

[@joewilkinson5978]

Excellent interview... I have read all of Gary's books... I have several years applying TA in my trading... Just from reading his books and listening to his interviews, I have turned my scalping methods completely around... Gary's method of scalping is spot on... You don't need TA in any form... All you need is to pay attention to small price movements... You will get it after training yourself to watch the price and to ignore everything else... Also, it doesn't matter what time of day it is... Practice in all market conditions and all times...

[@meyer9625]

Very interesting!

[@IRAKAZ]

Althought retails traders should thanks Gary showing this method to them. you guys, stills has to know and he knows, that what he teaches is the typical local scalping method "the chicago Locals style" that he rebranded under his name. He is right when he says that it is a losing art that he brought to us to carry on the tradition. You could find reference on this method in a few books. Let 's give credit to him to explain it very well.

[@khanbbarrhail3550]

Every time Gary talks, he brings layers of wisdom that I have always enjoyed for a long time. Gary helped me see the nature of the market mechanism!

[@korbstrading]

🍻🍻

[@meyer9625]

Thank you for this precious pearl! So Much respect for intellectual honesty. In front of so much experience we should not even ask whether he is right about technical analysis! We should simply understand that the institutional who trade the largest amounts in the market do not use this rubbish to make money. Every tick up or down can trigger thousands of algo, every tick , opens a new auction . Would you rather win the war inside the trench oh 1 km from it? Only esteem for this man!

[@korbstrading]

🍻🍻

[@aaronformella2869]

Hey Korbs, thanks for having John...I mean Gary, on the show. Very interesting stories and I really enjoyed listening to this one. That story really would make a great movie wouldn't it?, Great job and sincerely, thanks again!

[@korbstrading]

Haha 🍻🍻

[@serrandy8]

Great interview Korbs! Thank you

[@korbstrading]

🍻🍻

[@houssamhammoudi1982]

I love gary's style !

[@johnson007]

Thank you, this is wisdom, would like to learn more

[@korbstrading]

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[@TradeBrigade]

Lost breed of floor traders. Thanks for sharing Korbs, very insightful.

[@korbstrading]

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[@1891Nj]

Part 2 with deeper dive on Ta and orderflow please. Great pod Korbs!

[@korbstrading]

🍻🍻

[@1998trades]

Gem video 💎

[@taylor_o]

This was a great interview. Gary really gave a clearer picture of his past than I've heard from his other interviews. I've e-mailed him a few times, and he's always been happy to discuss ideas with me. Great guy.

[@chris-ew9wl]

part 2 please

[@korbstrading]

🍻🍻

[@BR-ms3pp]

This old English local has many a good point. I believe he traded in many yards in his time. The Japanese house scandal, is it in the book? Just kidding, im sure its not. "Tradition" says its not proper etiquette lol. By the way, I agree with Gary, Technical Analysis is not the silver bullet its claimed to be by some, stay away from slippery tongued, snake oil salesmen. Thanks for a brilliant interview Korbs and Gary. NB: Some TA can be a useful guide.

[@korbstrading]

🍻🍻

[@jsh111]

Volume profile IS technical analysis....

[@BR-ms3pp]

@@jsh111 You're right we all use TA in some way.

[@nathane2890]

At the end of this interview I still don't know what Gary's trading style is...!😳

[@tjotwo]

"...the ability to be contrarian..." That discussion illustrates Norden is predicting price movement. If a TA trader looks at a price rejection pattern and trades it, that is "rubbish" according to Norden. But if he sees price rejection on the DOM and trades it, he is somehow doing something superior to the TA trader? What I see in Norden is what Korbs has pointed out in terms of humility, of sorts. I also see great discipline. There are traders who make money hand over fist with a 40% win record. For some styles of trading, trade management and discipline are more important than trade entry. I listened to this twice. This has inspired me to read Norden's book. I learned about him some time ago through Peter Davies, founder of Jigsaw. I think Norden and Davies are full of it about TA and I have told Peter so. And I think Soros is an evil scumbag, so if Soros says something, I tend to think the opposite is true.

[@jsh111]

I know plenty of traders that trade tend lines successfully. Too often when someone finally finds success, their method turns into a religion. This is an example of that.

[@jeffoneal3518]

@@jsh111 Good point. Speaking of religion, it is uncanny that somebody who denies intelligent design in a well-ordered Universe also denies any repeatable price structure and/or probabilistic price movements to the markets.

[@jsh111]

@@jeffoneal3518 I don't know about you, but I've been around almost 40 years and human behavior is pretty predictable. Human behavior drives markets. Everything in nature has repeating, predictable patterns with slight chaotic variances from one pattern to the next. People are dumb 🤷‍♂️

[@jeffoneal3518]

@@jsh111 I agree on all counts.

[@orange1872003]

Mandelbrot's book is pretty good too, BTW.