Episode 114 ... Brannigan Barrett (69:33)

South African
Futures day trader
Not easy to sit in front of the screens for ten hours a day
Trading for four or five years
Getting bigger is a process
Write down why you want to get bigger
Liquidity factors to consider
Hates targets, thinks they are limiting
"Clipping," "Clip" ... must be a British term for trade size?
Always wanted to trade
Formerly a currency dealer
Landed in UK Sep. 1, 2011
Got a job with "Futex" ?
No futures trading in South Africa
400-500 millisecond delay in South Africa too great for day trading
South Africa not a gambling culture
Wage earners, value family life, not like the Western world
Never taken "no" for an answer
Futex took him on because of his enthusiasm
Successful traders are dog fighters, have to keep coming back
Types of traders in a firm all important
Every successful trader super diligent about managing risk
Lee Gibbs traded in his firm ("legendary trader")
6:20 AM every day Lee Gibbs in the office (he was already rich but that didn't matter)
Everything Lee Gibbs did, Brannigan Barrett emulated
Successful traders understand how to employ leverage
Good traders know when to back off, take days off, and also know when to press
Trusting yourself and your abilities takes at least two years
One person's 10,000 hours of practice different from another person's 10,000 hours
2011 markets extremely volatile
2013 2014 markets were dead
Not going to talk about Futex, but they had some of the best traders in the City
Futex defunct now for some reason which goes unmentioned
Started with new firm in the City with four or five original Futex guys
"Axia Futures" ?
Trades across eight markets: 1) German bonds and US Ten Year 2) Emini S&P 500 and Euro Stoxx 50 3) Euro and Sterling 4) Oil & Gold
Can watch him on YouTube and Periscope?
Likes to trade "flows" ... going with the flow?
Likes to trade news
Prepares for Central Bank news
If you think you can move the market, you're not going to last long
He used to average down down down ... risk manager would shout out him
He now reverses a trade when he's wrong
Emotional, weak traders need to be taken advantage of ... identify where they are (where he used to be)
Does daily debriefing
"There is one good trade every single day" -- analyze it during daily debrief
Only need to make one good trade a day
Records his screens every day and then replays it during debrief
He has daily checklist: 12 things he ticks off every day (going to the gym, etc.)
Figures out what sets him off emotionally, then avoids it in future
Not a time-based job, in the office at all hours
Takes December and January off
Traded US election starting 10PM till 8AM next day (London time)
Alex Hayward was his mentor, had a term "energy capital" ... you've only got so much energy for taking risk
Most be people need someone to hold their hand; instead, write it down
Your goals need a process ... make a tick sheet, a.k.a. a checklist
You can make money doing the wrong thing or the right thing, so making money not a goal
Open your mind up! Discard your false truths
Trading is a skill you develop over time
Everyone in the world would trade if it were easy
Trading is a simple binary (up or down)
Trading is a "silly silly game," don't make it complex
Keep it simple
Periscopes every Sunday
Twitter: @Trader_Bran (doesn't remember it)