Wait for your market, then... all guns blazing · Sang Lucci

EP 168: Stay alive, wait for your market, then... all guns blazing w/ Anand "Lucci" Sanghvi
If you’ve been through the archives, then this weeks guest will be no stranger; it’s the options madman and trader of 10+ years, Anand “Lucci” Sanghvi.
Lucci was one of the first guests to appear on Chat With Traders-back in 2015. As you can imagine, there’s been plenty happening since then, so we took this opportunity to catch up…
Topics of discussion range from life in Puerto Rico, dealing with taxes as a trader, a failed hedge fund, what’s been working for Lucci in equity options-and how he’s continued to evolve in recent years, plus many thoughts on trader psychology.

[@kensmalls]

I can listen to Lucci all day.

[@beamerUSA]

You must have made lot of dough in these past six months u were listening ....tee hee

[@jjdub111]

Right! Love listening to him and his strategies...powerful dude✨

[@justinriggs3827]

thats exactly what makes trading so damn hard, it dont matter what indicators you have, what strategy you pick, all that stuff is 10% of the battle. Mastering your own damn mind is what trading is!

[@FxHades01]

get smarter and find your edge . never give up fella .

[@minimal2224]

Lucci is not with the bs, love it. straight to the point no blabbering

[@checkmeout215]

This guy's mindset is priceless!!! Thank you very much SangLucci

[@nahomberhe6946]

You gotta love Luccis honesty. I don’t hear any other big time traders talk like him. He lays it all out. True teacher.

[@zizzyballuba4373]

theres already a popular program to gauge 1000s of trader's emotions when trading, its called plotting the prices on a graph

[@AdeshSoodeen]

His instinct was right on Tesla!!! Listening to this 2 years later...

[@DipsetUnit525]

The realest trader out there, keeps it real, legit, and tons of charisma. He does have some scammer friends but in the trading world who isn't.

[@Hugo-xj2mj]

- As long as there's momentum you know immediately if you're wrong, if there's no momentum you're not sure and if you're going long options you better get out quick because of time decay - If you're wrong on the writing side, hedge (buy) and work in and out of that short option - Trade the same thing over and over again - There's a fine line between instinct and being stubborn, hitting buttons because of your instinct is great, but then emotions start coming into it and that's when you get attached, you start making mistakes on your decision making and you start justifying shit that you shouldn't justify, basically allowing stubbornness, expectations, behavioral mistakes and all kinds of bullshit that have nothing to do with the market to control your decision making - Hedge to stay alive until the right market comes to you, then all guns blazing - Understand who you are to know when to push it, find what strategy works for you and when does it work, when it stops working follow your instinct and don't be stubborn - Hedging also refers too your life, who you are as a person, emotions, mindset and personal life so it doesn't affect your account, how are you going to protect yourself from yourself when you're going through some shit - There's a fine line between conviction and too much conviction, too much conviction to the point where you get attached to the position and you can't bail, you constantly have to be there to make sure it's unfolding in your direction and the second it doesn't be quick to get out and cut that risk off especially with OTM options because most of them expire worthless - Markets aren't efficient, any auction-type market is dictated and guided by behavior and emotions (who is screwed because they're holding too much and on the wrong side of the trade) - Algos have to constantly adapt to markets just like retail traders - How many times have you surfed the internet to avoid looking at a trade that is starting to go against you, that is probably a good sign to take your profits - All it takes is one trade to blow up your account - Trading is a constant learning process

[@DubTenProductions]

"Wherever there's a hustle, it's easier to sell the hustle than make the money."

[@dgumb]

Great explanation of hedging!

[@kippster88.6]

I love this guy!! Great epesoo

[@GalacticTechTrails]

Lucci’s the man!! Your the best Fifield, thanks.

[@gatsbylight4766]

@Chat With Traders - Great channel, lots of good information. But, I just realized that you don't have EP 007 in your list of videos.... or did I miss it while looking through the list? Thanks. (EDIT:Oh, I couldn't find EP 145 either. Just FYI)

[@Pathlogos]

Very advanced talk for me about all this taxes where in real life I am struggling to make one percent in day trading

[@shemrunboy]

Thanks Aaron! Good interview with a good guest as it addresses real stuff real traders have to deal with.

[@jeremiahreeves5395]

PLZ!! have him back on... loves this guy. so real.

[@olivertorres1073]

Thanks Aaron . Great guest and interview!

[@willcamp6685]

yup i digged through that archive loved it still here not going nowhere

[@410nikko6]

I luvv your style of questioning..I will definitely tell everyone about you

[@Ye7l]

Bring back lucci and dante!!!

[@JuanRomero-nt5vi]

Loved this episode.. the truth...

[@irislali169]

I enyoy listening to Sang Lucci. Big thanks

[@randol3952]

Love this interview very good.

[@TonyPajamas24]

When he spoke about mainly selling options now, and only buying options when environment is absolutely ideal, that really spoke to me...

[@maddenfootball]

You should do a Chat With Traders with Wall St. Jesus too.... if you can get him. Super entertaining and super knowledgeable; would be an amazing episode.

[@AndywayVideos]

Already listed to this one twice! A really funny one and some really good stuff here! Best topics like prop shop profit tactics, the recent crypto market flop, hedging tactics to keep profits and not recycle them back into the market... and keeping and even the fx mlm scams towards the end! This time around it was really cool to here a more real realistic Lucci vibe. Also the type of episode friends who don't trade can listen to and have fun with! Good upload!

[@aiman9710]

Best episode so far

[@sebastianmaier7679]

Great guy, as a trader you can relate to a lot of aspects he touched on. What a chad!

[@TheBillionaireTomboi]

lucci is a beast! great chat! No filter!

[@zachtrout2130]

Great podcast

[@adriandoe1090]

YES !

[@davidontiveroz8295]

i luv lucci

[@socalitymngadi4338]

Thanks Aaron great platform for us to learn from experienced traders very much informative and interesting ....I actually singlehanded praise all episodes but episode 077 is above all very much appreciated.

[@JuicenationThabz]

I love this Dude

[@michaeldimattia9015]

Another amazing episode! Thanks so much for these nuggets of KB hahaha!!!

[@FxHades01]

Tks Aaron . Sang Lucci such a real guy . God bless you . Trading profit depend on your personal lifestyle , if it have discipline , healthy , no greed , follow the flow and find your edge ( God doesn ' t give his bless to over ) .

[@Guardian_FX]

What?

[@acegunning]

Lucci the Legend

[@FRANKWHITE1996]

@21:50 WOW!!! made my day :D

[@schrodingerscat3912]

knowledge bomb

[@thebabyjesus1524]

this episode reminded me of the one with Brannigan when he was talking about systemizing trading processes and decisions along with discretionary trading

[@x3xGR33Dx]

man's a visionary

[@mmm-cake]

😄 great episode

[@thekolitsoane3039]

South African trader here. Bring your tech and expertise, we are more than ready

[@mrnewton3674]

The Shit just got Real...!!! Knowledge, Experience and Reality of humans trading.

[@jamesttrader1265]

Did SangLucci just say 0 capital gains!!! I'm moving!!!

[@beamerUSA]

Bull shit artist man...watch out

[@LinvalWilliams__]

Zero taxes on all capital gains. (Resident Of Puerto Rico)

[@olehbabiy9254]

this guy rocks :D

[@MaxsCognacReview]

Forgot to mention the massive discount on that pure

[@alm2922]

I gotta go to puerto Rico now

[@Bo-xl4re]

Does anybody know if you can deduct your losses (if you lost less than 3k and you were under PDT rule this year)? Thanks in advance

[@4xRomania]

him and tom dante are pretty awesome

[@johnwisdom9208]

Interesting that he feels excessively comfortable with size and apple. Great information!

[@czarli]

@14min when he mentions sales tax.. 11% is not double compared to San Francisco.. it’s 8.75 and some surrounding cities are at 10%

[@kylemcpherson7183]

Very good podcast. Very real. Love how he explains how he isnt perfect. And how he works everyday to keep his head above. And when its his market. Hes an animal. So i liked it alot. Confidence.

[@Yates__]

You cashed out of crypto on December 2, 2018? You picked the bottom to sell.

[@terrencefu4473]

Great podcast, Sang sounds kind of like Joe Rogan hahaha. Cool dude for sure though!

[@amitsingh46483]

Please call sang lucci every 4 years for podcasts

[@spoochymcgoo1616]

Ooph. It's March 10 and I wonder if he's sold that TSLA long position. Ouch. I had an iron condor on it last week and sold it because it was slightly too bullish.

[@harryzeinos989]

How about a virtual pit? That may enhance a trader's feel of the market

[@Revolution3030]

huh? how? everyone can see the tape and oderflow

[@harryzeinos989]

About 15 years ago there was software called marketsound for CME index futures that you could use to get a feel for the speed and urgency of orders hitting these electronic markets (similar to a pit squawk box). A VR pit would have an added visual pit that anyone that wanted could access, depending on who owned the software. Either the exchange or a third party and it would virtualise the tape.

[@harryzeinos989]

@@Revolution3030 This is only for those willing to purchase the technology assuming it provides an edge. Everyone else will use the standard tools, Dom, t&s, etc.

[@agentsancho3493]

Listening to this today and I can imagine the crypto community is having the same conversation from 3yrs ago.

[@jurajontko8563]

u feel me bro :D you are fucking heavy hitter. love it

[@justinriggs3827]

moving to PR

[@qkrrlwjd]

How much do you have to make to be paying 40% on your gains?

[@XTen1000DaysX]

100k+ in the USA.

[@qkrrlwjd]

@@XTen1000DaysX hey r u 100% sure? U mind linking me where u found this? I'm seeing 500k or more for 37%

[@XTen1000DaysX]

@@qkrrlwjd yeah you're right, dont forget to include state tax (lets say 8% is a median if you're making over 100k a year) and then tax on anything you buy.. i'd say 30-40% is a rough-draft of a good estimate. say you get taxes 24% then 8% state thats 32% but then you lose a lot on your personal property tax/anything you buy has taes prob 35-40%

[@O.Ez8]

Its def not 40% for 100k

[@XTen1000DaysX]

buylow with state tax it’s 30-40% depending on income. If you include taxes on house etc and property easily 40

[@viewland10]

Great interview, nice to hear a candid and honest account of real trading issues and how they are managed.

[@alm2922]

But what if you dont have another source of income

[@Ye7l]

year early on the TSLA call lucci boi lol

[@jayrakmoola8137]

this guy is actually wrong about crypto around that time in December 2018 most crypto was reaching an all-time high. i don't know when this podcast was taken but 2017-2018 was good for crypto and its making its way back towards those highs

[@dansig895]

if you're not making money with your smart phone, it's a stupid phone lmao

[@qlenium]

It's quite ridiculous the amount of tax certain countries have..

[@johnwisdom9208]

More hedging and going out longer, it works!

[@TheInvestmentCircle]

LOOCH!

[@princejimenez8505]

automation is here now 2020 :) well im still listening 2020 haha

[@babbaganoush5333]

Hey can we get yet another interview with Sang Lucci. Love updates on what he is doing. It is very motivating to listen to him.

[@blueboyd5297]

15:50 - 20:31

[@oldmansoda]

cool story bro

[@albay5348]

at what point people will understand !!!!!!!!!!!! anybody who sell you any educational crap, have no clue how to trade successfully. knowing how to place a trade and actually to make money are two different things. real traders don't sell shit, there is no time or need.

[@billbob4456]

These guys know how to trade and are transparent about it. They have set set up trading as an educational business and pay themselves a salary in order to not pay all the capital gains tax you pay as an individual. I am chatting with my accountant right now about this for 2019. Notice most of them will make no guarantee you will learn anything, and many come and go. This is why I never waste any money on these folks and the people trying to trade various systems, chatrooms, newsletters, etc. At least this guy is honest about it. He even says you have to learn yourself and how to trade your personality. Some people need coaches and are willing to pay for it. Again, he is transparent about it unlike many con artists in the arena. My first question to any guru is let me see your bank statement. If they are not willing to produce, they are full of shit.

[@carbass9264]

Not true check out MIC for example myinvestingclub.com/

[@dimsum6677]

Best of Logan Paul your id or myinvestingclub, I can't tell which one is dumber

[@richyr5876]

Bingo!! 💪🏽I do like hearing there BS talk thought it is entertaining 😂

[@RomilCPatel]

Sang Lucci releases his p/l.

[@bernzt120]

All good things come to those who wait, bet they are laughing now waiting for Cryptos to come back

[@NickPavlov00]

Did the guy actually finished the code/scripts that prevent you from making those mistakes? I just wonder if he got there?

[@wooloongabba]

Aaron , too slow to execute tells me youve taken some trading pain and are now gunshy , been there done that , get systematic dude and thats entry and EXIT . Adjust position size to equity/ strategy profit . Know your expectancy and trade to it .

[@tullochgorum6323]

For tax, come to the UK. Profits on personal trading are not taxable. The Revenue may try to tax your profits, but if you challenge them they will fold - must get a trading-savvy accountant. Obviously, if you are trading other people's money it's a business and you pay capital gains. For US citizens going overseas, make sure you're up to speed with your iniquitous FATCA law, where you are taxed on citizenship and not on your country of residence.

[@Vv20vV]

Yea, watch your kids ears b/c we know Lucci has no filter 😂😂

[@Essays4College]

yeah...every other word basically

[@gregcharles92]

Well the crypto market is back and better then ever fellas

[@amgineco]

I would give this man MY MONEY!

[@leophotographyhk5248]

Relying on "instincts" will kill you. "Looking inward" and wait for the right market. LOL😂 'cause the so-called "right market" is in past tense. You only know it afterwards. "Hedging your Life???" You're kidding me.

[@44bgood]

I think its important to say..... Puerto Rico is part of the United States.....

[@anfieldroad114]

good to Know thanks

[@Gwdufsm]

move to uk you can spread bet trading tax free..... so far as its not your main source of income....

[@samcf7690]

Bitcoin hit 58k...i bet these guys are kicking themself were leaving crypto

[@Doqtorify]

Wow, his mind has changed alot since last interview!!😳😳 I feel like he is going down ; or may be he doesn't want to show off

[@hasanz5259]

I think it's safe to say this guy can't speak without dropping the f bomb lol. Great interview nonetheless!

[@oldmansoda]

how much ya wanna bet the move to Puerto Rico is not because of taxes

[@oldmansoda]

Connor Segeren tell me more

[@XTen1000DaysX]

@@oldmansoda why dont you tell us more on your cynical comment?

[@oldmansoda]

@@XTen1000DaysX how was it cynical? any perceived cynicism is a result of your own ego's defense mechanism because you have fallen for a scammer and his fraudulent hustle.

[@XTen1000DaysX]

@@oldmansoda because he gave a reason for moving to puerto rico and you're sketpical about it in a cynical way, assuming what he said is not the truth and that he said something else makes you question why he chose to move there in the first place.

[@oldmansoda]

@@XTen1000DaysX fair enough. Yes, I am cynically skeptical about his real reason for moving. Sometimes my gut feeling is right, sometimes it's wrong. In situations with people in finance, history shows us that usually all involved are liars and scammers. Thus, I call bullshit on his story. My opinion, unfortunately, has no bearing either way.

[@georgemcduffey2622]

Exposing Robinhood...just wait a couple years...

[@wtfstainless3240]

420th view ;)

[@ehsanlabib2996]

A guy who has chat with Chat with traders and he is trader should pay attention to what words come out of his mouth, he keeps saying profanity words which put his personality very down. very pity of him...

[@jackbagelz5010]

fifield scares me. seems like the type to be bored with the stupidity of people and nature.. I hope he's alright.

[@leophotographyhk5248]

No content in Lucci's talk. Lucci just talked.....stories. Sorry Aaron, not your fault.

[@ssunkite1]

I smell a lot of marketing here.

[@handyrams4664]

Aaron, I sent you friend request on FB. I want to help you trade crypto better.

[@doctorblue6375]

He pulled out of crypto lol

[@sonnycorbi1970]

GEEEEEEEEZ, TALK ABOUT A POTTY MOUTH -

[@ft-trader8280]

lots of blah blah...

[@XTen1000DaysX]

lots of knowledge bro

[@ft-trader8280]

@@XTen1000DaysX Listen well... he just says what people want to hear

[@XTen1000DaysX]

@@ft-trader8280 You can't point out anything specific? Not sure why you're so cynical considering this guys been around the block and has been trading for many years. I'd be excited about moving to puerto rico to.

[@ft-trader8280]

@@XTen1000DaysX Yeah... trading for many years but suddenly New York didn't go so well....which was actually his previous destiny.... Here are the other red flags: 1. changing strategies all the time... suddenly the newest thing is hot... Same thing in previous interviews but then other things were hot..same story.. good traders do the same thing over and over again for many years... but hey... that's boring.. 2. He wants good traders to trade for his network...guess why... THAT is his real business and not the trading... 3. He talks way too easy.. has an answer to everything. He's a marketing guy, not a trader. That's why he gets out there and wants to be heard. Real good traders are hard to find. They do not advertise themselves. I could go on and on, also about inconsistencies in the approach... Anyway... I do not dislike him, seems like a nice guy. Have a great day!

[@XTen1000DaysX]

@@ft-trader8280 interesting comment as i don't know anything much about him or the new york incident. As far as i know he really only trades options doesnt go to forex/equity too much etc so not sure how his strategy is changing too much. Gotta adapt to the markets and there conditions.. i use to short a lot but when things are running and squeezing i wont hesitate to long more than shorting. Anyhow can't defend the guy just seems pretty knowledgeable.

[@vegasbarrinta5394]

Nah too pompastic and reckless for me