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

EP 274 | Keeping the Lost Art of Order Flow Trading Alive | Gary Norden
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.
Disclaimer:
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
Links & Resources
Website: garynorden.com/
Website: nordenmethod.com/
Website: learnoptions.net/ (free basic options course)
KZbin: / @garynorden (@GaryNorden
* NEED ACCOUNTABILITY IN YOUR TRADING JOURNEY? LEARN ABOUT THE TRADERS ACCOUNTABILITY PROGRAM BROUGHT TO YOU BY THE CWT COMMUNITY: chatwithtraders.com/community/
#orderflowtrading #futurestrading #scalpingtrading

[@Anonymous-ji3cu]

Absolutely excellent questions by the host. I thought the answers were quite telling.

[@testicularhypertrophy]

I’ve never heard someone say they can’t believe they’re almost 1/3rd thru Q1 instead of saying “close to spring/winters almost over”, etc. I gotta go out into the woods for a year after hearing that

[@samdavis1999]

😂

[@timcastle9506]

I wonder if he has ever talked with Ed Sekota about the " dangers" of staying in a trade?

[@TopTraderLounge]

This was a great!

[@markcamilovic8872]

Loved this interview. Great to hear the perspective from a professional.

[@hamisintunzwenimana8083]

Good General 1. Order Flow / Market Making 2. Market Dynamics / Learning Process

[@pcntsfad]

The mindset of quick adapation and real-time analysis makes one's trading career perpectual, completely opposite to the finanical junk food and the 'easiness' promoted by the industry sell side which tells TA can be done in any product in any time. In this era of seeking shortcuts, we should listen to the wisdom from this humble trading veteran. I sincerely recommend wisdom seekers to check the free but invaluable information on Gary's websites and KZbin channels. You will find a full and comprehensive picture of the financial and trading industry. Thanks, Gary.

[@TheWhippinpost]

Disappointed @chatwithtraders didn't pursue "the checklist" with further probing - missed opportunity for great insight there @ 30:00

[@jamesnap601]

Good Video Gary is a pros pro

[@jaysmusic7729]

Gary's another money grubbing banker in my opinion but to each his own. Go pay for his methods I didn't hear a speck of them.

[@CalebDiT]

I've come to respect Mr. Norden, but Edward Thorp mathematically proved that he's wrong about TA. Not all TA works, of course, but some does.

[@davidkeen2510]

It's funny how every trader says if you don't do what I'm doing, you won't make it. This is a marketing tactic as old as time. Be careful people. No information is ever free. And some research will find some kind of product or promotion behind most of these interviews.

[@Okayand33]

Yes! Obviously there are core principles everyone must adhere to. That being said, one of the many misleading ideas large traders perpetuate on here is only trading high volume, high profile stocks for "liquidity" reasons. Thats almost never the case when it comes to small traders who can trade just about anything as long as they have quality information about the asset.

[@bxnxjmin]

yup. Gary is notorious for saying that all methods of trading will fail and then sells his own course for +$3,000

[@yorkhongten9633]

If you are discouraged by what another trader said, you will not make it anyway

[@hellofriendhypnosis]

@@bxnxjmin He doesn't really say that. He says that the professional who he knows do not do what is promoted to retail traders. He is speaking from a very specific pov. He also warns people what he does isn't for most people. Trading isn't for most people.

[@Technics_Trader]

Try telling Mark Minervini and David Ryan technical analysis don’t work. From the start of time trading patterns have been repetitive and this is for anyone to see when going through charts so for this guy to say technical analysis don’t work is laughable.This guy has a chip on his shoulder about retail traders

[@jaysmusic7729]

This is like listening to the devil being interviewed

[@Okayand33]

Know Thy Enemy

[@jaysmusic7729]

@@Okayand33 Listening to him makes you feel like staying away from the stock market completely unless you work for a bank

[@notdiablo1551]

he’s being honest about trading, thats why i respect the guy a lot

[@user-pb8rk4jc1b]

@notdiablo1551 what type of strategy/orderflow tools he uses? If u know I'm very confused about this guy??

[@notdiablo1551]

@@user-pb8rk4jc1b well tbh i dont think it matters which orderflow tools he uses because all these tools essentially show the same information, just in different ways. time and sales and depth of market are commonly used for short term scalping. i have no idea what exact tools market makers are taught to use. just find sth that works for you and spend a shit ton of time with it until it clicks.

[@davidnovitzky3592]

Another teacher who takes money... I'm unsubscribing, there's no value in CWT anymore