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SteadyTrade

Ep 179: Former Market Maker Shares Must-Know Trading Secrets!

SteadyTrade

SteadyTrade.com

Business, Education, Investing

4.6589 Ratings

🗓️ 22 December 2020

⏱️ 75 minutes

🧾️ Download transcript

Summary

This week’s SteadyTrade podcast promises to be an interesting one … We’re going deep into the underbelly of the markets to give you a glimpse of what’s really going on behind your screen…Our hosts Kim Ann Curtin, Tim Bohen, and Stephen Johnson are talking to former market maker, J.J. Guerilla. (Note: he’s using a pseudonym.)With powerful and extremely wealthy former clients like offshore banks, CIA spooks, and arms dealers — rest assured he has plenty of stories to tell.He’ll share how he got...

Transcript

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0:00.0

How did you even do that in the 90s with your 486 computer? I mean, how did your phone? Fones, okay. Everything was on phones. Like, you'd have a big phone with 20 speed dials. And then see in the old days, like if I wanted to wipe out six bids, I'd take two phones. My partner would take two phones. And the guy on the other side of me would take two phones and we'd go one two three ready and we'd all hit six market makers instantaneously to wipe out

0:27.3

their bids or to lift their offers to clean out their inventory your list You're listening to the Steady Trade podcast.

0:45.2

A podcast that inspires traders to make meaningful strides and pursue their passions.

0:51.6

Your hosts are Tim Bowen, the lead trainer at Stocks to Trade Pro,

0:56.0

Kim Ann Curtin, the Wall Street coach, and Stephen Johnson, the up-and-coming trader who's

1:01.9

always willing to learn. Together, we'll sit down with experts to talk about their process,

1:06.8

the lessons they've learned, and discuss how all traders can level up their trading careers.

1:14.6

Well, welcome back, everybody, to the Steady Trade podcast. Today is going to be an interesting one,

1:21.4

I promise. We have JJ Gorilla, that is his kind of pseudonym for the world, and you'll see that he actually

1:31.4

has an avatar up because he isn't able to show his face, and he's going to explain a little bit

1:37.1

about that. But I'm going to just tell you, I just got to meet JJ about two or three months ago, I think, right, JJ?

1:46.0

On the, yeah, Ray from Confessions of a Market Maker, is a co-host with JJ.

1:52.3

And so we got to meet then.

1:54.0

He has a fascinating story.

1:56.0

And one of the things that I hear all the time, Tim Bowen and Steve and talk about is the concept of how there is this

2:03.5

day that you're up against as a day trader. And one of the things I learned from JJ getting to know him

2:09.3

is that he used to be one of the days. And I thought, oh, this is great. We can kind of learn from the

2:15.0

other side what a lot of day traders are up against. So

2:18.7

JJ is a former nightclub bouncer, believe it or not. And it was in the nightclubs where he

2:25.2

met traders and deal makers. And that's how he got in the industry. He, you know, saw them

2:31.0

spending lots of cash and was like, hey, what are they up to? And so he basically

2:38.4

worked in Vancouver as market maker and he manipulated penny stocks deals that retail traders love to

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