Tape reading & trading psychology lessons with Sang Lucci
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- Опубликовано: 9 сен 2015
- Full show notes: chatwithtraders.com/ep-008-ana... - - Oh boy! I’ve been itching to release this interview, ever since we recorded earlier this year…
Let me introduce you to a man who came through the doors of a prop firm in 2006, with absolutely no trading knowledge. Zilch! He mashed keys for a few years until the firm later shut shop during the GFC, then he was out on his own. Gathering $50,000 he rapidly compounded this to $2,400,000 in the two years that followed.
His name is Anand ‘Lucci’ Sanghvi, and that was only the warm up. Here he is to share his story in much more detail, and open up about some of the hard lessons he’s learnt along the way. Pay extra close attention when he talks about trading psychology - this is straight up gold!
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Lessons learnt in this interview:
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- How Lucci was able to break the ongoing cycle of making big gains one month, and losing them the next.
- The story of how Sang Lucci was created and the hedge fund came about, plus how they landed Haim Bodek (HFT whistleblower) on the team.
- How Lucci finds an edge in the market through tape reading, and ignoring all the other indicators, except some key price levels.
- The dangers of being fixated on making a certain dollar value. After all, the trade doesn’t care how much money you make or lose.
- Lucci gives us a rundown on one of the biggest flaws of human trading!
- How things change when you start to accumulate wealth, including the people around you and their actions.
- Lucci shares his best psychology tips, that he wishes someone had shared with him when he was on the come up.
- Why it’s so incredibly important to know what you really want out of life, and understanding that the want to just make money doesn’t cut it.
- And much, much more…
This interview was made 7 years ago, yet all information is valid up to date. Wonderful interview ❤
@chat with traders. Aaron Fifield I am absolutely furious with your interviews. I feel cheated. Cheated that I had to stumble across your content by sheer luck. You content is absolutely amazing and I cant believe its free. You’re giving away gold here. I will listen to every interview you have probably many times over. Cause i can tell i will be to relate to different parts of the interview at different stages in my trading career. Hats 🎩 off to you Mr. Fifield!!
man ive been trading for 3 years and struggling mad that i found this channel only a few weeks ago, this is the most underrated channel for trading and sad that nobody promotes it online.
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Coolest, realist trader interview by far. Would love to meet this guy in person.
+Christopher Araya thanks man, thrilled you liked the interview.
I love the way Anand repeats himself over and over again. It hammers it home. Great interview!Thank you Aaron and Anand!
Sang Lucci is king. Love this interview. The tape is the edge for sure, changed my trading completely.
Please, can you guide me how to learn tape trading like books name or any other resources to refer to learn it??
@S hi brother can you share it
Ive watched a lot of your series.... This one is by far my favorite!!
Aaron, your interviews are pure gold!! Thank you for putting out this content... keep up the great work!
It is kind of uncomfortable to think that the market is between the market makers against the retail traders, except perhaps he is speaking to the equities market.
But come on guys, the total of all the daily account balances of retail traders cannot fill the daily orders of just one market maker!
Moreover, for us forex traders, we are trading currency CFDs, while the market makers trade the real cash exchanges in their balance sheets... We are playing on very different plains, guys!
Great interview💪
This is the only channel on RUclips I’m subscribed to. Thanks Aaron! You’re great. Beat of luck for the near and long time future!
that was really the gold for dealing with psychological problems; I will be watching this interview every month ...thanks aaron
Damn what a genuine guy Sang is! Definitely going to tune in to his content
This guy was my favorite out of all your guess...🏁🏁💯💯 His delivery is so down to earth...
This guy is excellent. His flow of thoughts and communication is like expressed trading reality...Gr8. Thanks Aaron.
Wise words. Its about the trade, not the money. Thank you Anand Sanghvi and Thank you Aaron for providing this resource for the trading community.
"You see all this money being made, and then you look at your account, and you're like, 'Why isn't that here?'" Oh my god what a perfect description of getting started.
It's not about the money, it's about the price action that you see. Love that
Omg !! I love this one so far !!!
all these interviews provide inmense value but this one is something else
"When you get there, it's not about that..." So true.
keep watching, this is gold
I like the ways he talks about things! awesome! thanks aaron for the interview! keep it up!
+Jonathan Yap - no prob man! Thanks for taking the time to listen.
Simply fantastic ... as you said pure Gold
Very Good Interview I could relate so much to this
This was such a great interview
One of the Best episodes I have listened to so far! This is pure GOLD! Just plain old experience flowing out of his mind faster than he can speak it! Keep up the great work!
Hands down one of the best trader interviews by far. Just pure gold.
Awesome interview.
Great interview. He's absolutely right about everything he's talking about. Very passionate, going above and beyond. Thank you!
+Uschi F thanks, I'm pleased you enjoyed the interview.
This interview is great eye opener. Absolutely gold
U r right bro
Very helpful advice,,, to adapt Swing Trading
Great perspective from guest
Amazing interview. Cheers
Amazing amazing interview!!
The host asks v good questions. Smart Chap
when im having my way with the markets I listen to this to humble up and sharpen up. then get back to having my way.
some real talk - wish this guy was on my shoulder when trading as a co pilot
This is gold. The reality of trading.
This guy pretty much nailed it. Everyone can trade setups and indicators. But the profitable ones are those who can read market emotions behind the trade : buyers and sellers and be able to take advantage it. If you can't understand emotions behind the particular price actions u just stay out until you have some sort of feel for it .
Best Video here, its the only way to make almost a 100% win rate! Speaking from experience after 4 years of failure...
Very smart dude! down to earth!! Like this guy!!
The prop story is like out of a movie. Respect.
Awesome chat
Thank you Aaron. Wow what an interview. What was the book he was mentioning?
20:00 in & this joint is great! He’s so describing me. Good shit 💪🏽
Thanks for your time Aaron you are helping out alot of traders keep up the good work ! Happy Trading !
+Davonta Robinson - Davonta, I appreciate the kind words man.
Best interview ftw
great yet discouraging interview for a new retail trader
Great interview
This is the funniest one yet but down to east just real
Very cool! Not sure I agree on the technicians being wrong! I can see his point but the whole point of technical trading is to look past every single bit of noise there is and focusing on price and trend. Machines still like to make trends no matter how much chop they create. Historic price might differ but they all come back around. Look at ES right now! 10/27/2016 market hasn't seen a range like this since 90s or something. Loads of examples but not enough for one youtube comment. What he is doing is indeed very technical and he makes it sound quite simple here. Massive fan of "WalStreetJesus" I enjoyed this a lot. I liked that he was talking about when he was 23 because thats how old I am and if I can relate to this guy in a way I guess I must be on the right track. His money speaks for himself no matter how arrogant others in the comments might say!
Thanks ChatWithTraders
Hey we need interview of the man the host chat with trader
I like his style
very cool interview. love it.
+Angelo Senna, thanks heaps!
Absolute great interview Lucci made some great points
Sang is the man. Boom n buster
Dark pools was a great book and helped with understanding of how markets moved and how the movement basis morphed into what it is today...it really breaks it down and and interesting read. It reads like a story but is informative... anyone know another trading book of that caliber???
Reminiscence of a stock operator
he speaks the truth, I like it
awesome content
hey aaron wheres the link to that HFT documentary you were talking about?Can you tell me where to find it? Thanks.
+Stephen Smith, all links mentioned can be found in the show notes: chatwithtraders.com/ep-008-anand-sanghvi/
Thanks man!
Hey Erin,
Love the series so far. What happened to chapter 7?
who is Erin? u meant Aaron? episode 7 got deleted..
I call Anand “Swag Lucci” dude is a hustler & he emphasized he always had something going on “on the side” in the beginning 🤔 😂 💯 One of my favorite traders 4 sure!
awesoe awesome.... this was much needed ...
+gandhar thanekar - glad it was help Gandhar.
Great interview, so true about the psychology part, most systems do work, but systems are applied by people and we all have different mindset when it comes to trading. I always say, trading is 80% mindset and 20% system. If you have mastered your system within your subconscious mind then you can deliver that knowledge in real time and in real trading.
+Day Trading Mindset Hovig thanks for listening, pleased you liked the interview.
Nice interview! Bring this guy back....😷🤙
THE BEST trading podcast host of all time.
Hehe he is so dope 😆. Wery fast thinker and like the dude next door. I see it as parallel universe when others got the same thoughts about the same thing, but newer meet. He don't hesitate to speak the truth. Top Interview 👍
One thing I did greatly agree with and see that obviously he is a pro because of his views on MAs, MACD, RSI, etc. The "Herd" crap.
+Verz Waddle, fair point hah.
Man didn't know this show there at that time if i had listen to it at that time it would help me a lot still to me it is so grate EP i rely love the way Lucci express how does the market run specially in term of treading strategy to tread with,
any way i am looking after the link to the documentary you mentioned in the show.
+wn77wn, you find the link to the documentary in the show notes for this episode, on the website: chatwithtraders.com/ep-008-anand-sanghvi/
Hi Aaron, absolutely love these interviews mate. I would call myself an intermediate trader and working towards that next level. But, these interviews form a vital part of my daily professional development and general routine when monitoring my setups. I plug the headphones in and listen to the content - it is amazing how this helps my focus. Great job mate!
Will you have Anand back to flesh out the part about time and sales again? Hardly skimmed the surface on it. Granted he's charging $2600 for his info, and may not want to go into detail. And I wasn't clear if it was the tape or if it was options that he's using, or both.
+annihilationHaven it's possible Anand may be back on the podcast at some point, but it's not something we've discussed. I'd suggest watching some of the other videos he has on the Sang Lucci channel, which may be helpful if you want to dive into time and sales further... And just to answer your last question; both. All the best.
Any good books on understanding buyers and sellers.
I liked this interview
Pay attention at 37min.whay was the documentary was mentioned btw?
Can someone tell me the documentaries he was discussing about?
Anyone know where you can get access to a stocks market depth data for the whole day to see the transactions that went market time? Not talking about the level 2 live data.. your comment will be much appreciated.
Does tape reading work on the higher timeframes? I only seem to see it associated with day trading. Also is it as effective with forex as it with markets like equities and options?
Yup, forex also, but still most of ppl that uses tapes are scalpers rather than long term traders
Mike S DOM? What do u mean by that?
ONE OF THEEEEE BEST INTERVIEW
It is the best interview
you definitely need to do one with sean dekmar .... he is a master... I've been in his chat room for some time now, and I improved very much with him ...
this was fckn awesome!!!! :)
+Carbon FX Trading, thanks heaps man.
I just found about this guy yesterday, been listening to him since, this is the reason why I like this guy ---------------> 1:06:29. This guy speaks to you from a place of substance where other traders don't.....
Hahaha this guy got me word for word in the beginning. "what everyone always does. go to barnes n nobles start looking at the self help books " Funny to hear stuff like that when that's exactly where your at. I love the way this dude talks. Best Interview so far!
+Jon M hah, yes! We've all been there Jon. Glad you enjoyed the interview man.
Never heard someone repeat himself so many times. Never heard someone repeat himself so many times.
Good one!
Sang Lucci tips are like "Pure Gold!" #SangLucciIsAPimpTrader
+Stephen dela Cruz hah, great hashtag Stephen. Thanks for listening man.
I gained more from his spirit than his advice. But his advice pretty amazing. Had to watch the whole frikin thing again, very awesome. You're a superb interviewer.
+MikaShelley99, for sure! And thanks for the positive words man.
I hope one day you will be interviewing yourself! GL to you as well man, I am sure you are learning a lot interviewing all these successful traders
I have question for sang lucci for anyone out there. Sang Lucci believes in tape reading which is level II. From what I know market makers can manipulate the level II buy a showing a huge position but not executing it. Wouldn't that make tape reading inaccurate?
One of the best interviews ✌️
36:28 about the tape
If your making so much money from trading why sell courses? Genuine question
Brillant interview mate!
I wanna learn more about this trader before finishing this interview. It just seems like there's holes in his story. Maybe he's over embellishing, maybe he's jumping round on the timeline, but it doesn't feel like accurate info is being given. The more I've developed as a trader the more I see that a lot of these well known gurus you can see on twitter and other platforms are not as advanced as they come off trying to sound. A lot of the heavily advertised traders promoting groups and systems, it seems, are better salesmen than they are at actually nailing great trades. Who here can vouch for this guy?
I mean, if you don't think he's legit, don't follow him. simple
37:45 they use everything, but Moving Averages can be used to beat them.
It has been my experience that LOT of traders have a wealth or money "thermostat" that is set too low, and very few recognize this. I had the same issue when I started trading on the floor - just couldn't seem to get above 200k, no matter how generous the markets were being. I'd make money, give it back on stupid mistakes. Rinse and repeat. Had the same issue with my own traders in my trading firm - trading the same system, some would kill it, some just couldn't seem to break through a certain level. Nothing to do with talent or trading ability, everything to do with what was going on between their ears.
sickest guy!
I worked with Anand at that prop firm in 08-09 and everything he said is true.
+GuyInChair, oh true! I take it you're still trading to this day?
Still trading, still listening to podcasts at midnight! You have a phenomenal channel going here... keep it up!
+GuyInChair, good one! I appreciate the kind words man.
ROSEWOOD any book recommendations on tape reading?
🔥
As someone who has programmed bots, robots can still lose money and they do. PhDs can even misstep and have huge drawdowns, as computers can not predict human emotion which is the major influence that moves big money in the markets.
Don't believe me? Buy yourself the best bot on metatrader. They typically use martingale, which destroys your account 1% of the time.
Trying to learn the Sang Lucci way
I love this guy wow.