Peter Zhang was a major in quantitative finance who was dirt poor and homeless at one point, had a lot of odds stacked against him. He managed, through a lot of determination, get a mentor who took the time to show him the ropes, and was able to transition into a trader who made smart decisions and trades.
He was able to gain the attention of Anand ‘Lucci’ Sanghvi (EP 008) after spending his last dime on a plane ticket to Las Vegas to go to a trading conference and managed to convince him that starting a hedge fund would be a smart idea.
Currently Peter now heads the hedge fund operations at Sang Lucci Capital Partners which includes a completely automated high frequency trading fund. He has a wealth of knowledge about market structures which you don’t want to miss.
What’s Covered in This Interview:
- Why Peter does not use any more than 10% of what he learned in his quantitative finance courses in college, and what he did to gain real trading knowledge.
- How scanning more than 400 charts nightly and a trading mentor was able to rescue Peter from a destructive path.
- Why traders cannot simply just throw a dart and make money that way even in a raging bull market.
- Why it was beneficial for Peter to use a more systematic and automated approach instead of a discretionary trading one.
- Peter breaks down selling flow, market makers, spread, and other market structure explanations.
- Why retail traders get crushed in the process when the majority of breakouts fail.
- Why it is important to understand traders counterparties and who they really are competing against.