Get ready for a very interesting conversation that I had with Dennis Dick.
Dennis first began casually messing with penny stocks, before joining a well-known prop firm known as Bright Trading in the late 90s. Dennis is still with Bright Trading to this day, as an active short-term equities trader and their Market Structure Analyst.
His voice may be familiar to you; he’s the co-host of Benzinga’s PreMarket live morning show as well.
Over the next 60-minute conversation we discuss; scalping, survival in a high frequency world as a short-term trader, different order types, and the plethora of opportunities available in trading the open (when Dennis actually makes 50% of his money in the first five minutes of each day).
What’s Covered in This Interview:
- Dennis discusses his early years trading penny stocks, holding the record for ‘most consecutive losses’ at Bright Trading, and how he finally became profitable.
- After realizing he could no longer compete on speed, Dennis explains how he adjusted his way of trading and why scalping is no longer a viable strategy in U.S. equity markets.
- The difference between providing and taking liquidity, why Dennis has a preference for certain order types and scenarios to use them.
- Dennis gives the scoop on the great opportunities in trading the open and “fair value.” he also explains various information sources which can be used to extract alpha.
- Why high frequency trading shouldn’t be blanketed as ‘good’ or ‘bad’; some HFT activity is beneficial, while some is predatory as Dennis describes it.
Links and Resources:
- Chat With Traders Facebook group – Join the free Chat with Traders Facebook group to connect with other traders and podcast listeners!
- The Comprehensive Guide to Trading Mentorship – My free eBook answering all of your questions and explaining how to get a mentor.
- Bright Trading – The first proprietary trading firm that Dennis joined when he started trading, and the firm he’s still with today.
- Benzinga Pre-Market Show –Along with Joel Elconin, Dennis hosts a daily, live pre-market show, covering what you can expect in the upcoming session and more.
- @TripleDTrader – You can also follow Dennis on Twitter!
Click here to get your free copy of The Comprehensive Guide to Trading Mentorship.
