Event-Driven Trading: Strategies and Stories from Rick

Diary Of A Trader

In this episode, host Dan welcomes Rick, an emerging voice in the trading world, who shares his unique journey from growing up in Bergen County, New Jersey, to studying finance at Fordham University. Rick discusses the fast-paced environment of his upbringing and how it shaped his direct and ambitious personality. He reflects on his early uncertainty about his career path, driven by a desire for financial success. The conversation dives into the intricacies of trading, the importance of acting swiftly in the market, and the balance of making money for clients while also benefiting oneself. Tune in for an insightful look at the mindset of a trader who operates away from the spotlight.

Timestamps

00:00:00 - Introduction and Career Beginnings 00:00:39 - Early Life and Education 00:01:05 - First Job at J.P. Morgan 00:02:31 - Transition to Equity Capital Markets 00:04:08 - Moving to First New York Securities 00:05:54 - Role as an Analyst in Event-Driven Trading 00:07:29 - Experience at National Bank of Canada 00:08:22 - Financial Crisis and Job Loss 00:09:03 - Returning to First New York 00:10:06 - Discovering a New Trading Strategy 00:12:13 - Adapting to Market Changes 00:13:52 - Importance of News in Trading 00:15:55 - Risk Management in Event-Driven Trading 00:17:06 - Example of a Recent Trade 00:20:52 - The Role of Tape Reading 00:23:12 - Challenges in Transitioning from Analyst to Trader 00:25:29 - Identifying Relevant Events 00:31:00 - Trading in the Pre-Market 00:34:02 - Examples of Bad Trades 00:37:02 - Learning from Mistakes 00:41:37 - Evolution as a Trader 00:43:49 - Considering Giving Up 00:47:03 - Advice for New Traders