Chat With Traders 008: Anand "Lucci" Sanghvi – Slinging PS3’s, Accumulating Millions, and Hard-Hitting Psychology Lessons
34 snips
Feb 19, 2015 AI Snips
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From Prop Firm Closure to Swing Trading
- When the prop firm shut down during the 2008 financial crisis, Anand took his $70,000 and started swing trading equities independently.
- He rapidly compounded his capital by buying large positions in washed-out stocks and later transitioned to options trading.
The Power of Tape Reading
- Anand relies primarily on reading the tape—bid, ask, and time and sales—for trading decisions rather than charts or technical indicators.
- The real edge comes from identifying buyer and seller interactions, as computers and market makers exploit typical retail technical analysis.
Trade After News Releases
- Avoid attempting to trade during news releases since algorithms react faster than humans.
- Always trade after the news release once the market sentiment and price action become clear.