Chat With Traders

Andrew Perry spent over 35 years at the intersection of institutional macro research and active portfolio management, including five years as a portfolio manager at Tudor Investment Corporation under Paul Tudor Jones. Managing up to $450 million, Andrew developed a disciplined, multi-dimensional framework to understand where global markets are going and how to structure trades with strict risk management. After entering the financial markets during the 1987 crash, Andrew learned firsthand how market regimes and trader psychology shape long-term survival. Today, through Macro Pillars, he distills decades of experience into a structured 5-pillar approach, combining government policy, nontraditional liquidity, monetary mechanics, technicals, and price execution, to help traders separate market noise from real edges. In this conversation, Andrew shares the priceless lessons learned from working alongside legendary trader Paul Tudor Jones, why time horizon and adaptability outweigh being right, and how major market dates (like Treasury funding shifts) create key structural turning points. In this episode, we explore:• What $450M Portfolio Manager Learned From Paul Tudor Jones• Andrew’s entry into markets during the 1987 crash and how it shaped his view of risk• Life inside Tudor Investment Corporation and managing capital at scale• Why winning 55% of the time is enough when risk-reward is properly managed• The 5-part Macro Pillars framework: Policy, Liquidity, Monetary Mechanics, Technicals & Execution• The significance of non-traditional liquidity, Treasury issuance, and key dates• Understanding the Move Index (bond volatility) as a key indicator over the VIX About Andrew Perry:Andrew Perry is an institutional macro portfolio manager with over 35 years of market experience. He previously managed FX risk at Commonwealth Bank of Australia, served as a Portfolio Manager at Tudor Investment Corporation, and held senior trading roles at Nomura. He is the founder of Macro Pillars, a service designed to provide professionals with a rigorous, independent perspective on macro markets and liquidity. Links + Resources:Website: https://macropillars.com/Twitter/X: https://x.com/MacroPillars_Youtube: https://www.youtube.com/@MacroPillars Free Trial: https://confirmsubscription.com/h/signup/t/CBDE5ADDD9C6BAC5 Sponsor of Chat With Traders Podcast:Trade The Pool: http://www.tradethepool.com Time Stamps:Please note: Exact times will vary depending on current ads.00:00 What a $450M Portfolio Manager Learned From Paul Tudor Jones 06:04 How Your Background Influences the Way You Trade 11:47 Winning 55% of the Time vs. Cutting Losses and Letting Winners Run 16:26 Managing an Internal Hedge Fund with $50 Million in Capital 21:40 Why Time Horizon Matters and Matching Risk Parameters 28:28 Why Being a One-Dimensional Trader Leads to Failure 31:50 Overview of the 5 Macro Pillars Framework 38:18 What Is the Difference Between Good and Bad QE? 43:57 Why the Move Index Is So Important 51:39 Why Starting a Career with a Big Win Can Be Bad News for Traders 44:56 Key Takeaways from Treasury Bond Announcements and Issuance 01:01:05 Memorable Stories and Hard Lessons Over a 35-Year Career 01:06:32 Adapting to Market Shifts When Other Traders Refuse to Change 01:10:36 Why Many People Enter Trading for Freedom and the Reality 01:13:17 Crucial Advice for Beginner Traders 01:14:00 Where to Find Andrew Perry and Access a Free Trial of Macro Pillars Trading Disclaimer: Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

Steve Nison came to Wall Street as a technical analyst in the late 1980s, discovered an obscure Japanese charting methodology, and spent years translating rare texts to introduce candlestick charting to the Western world.Through his landmark research, bestselling books, and institutional training at major firms like Merrill Lynch and Daiwa Securities, Steve opened the eyes of global investors to the power of price action and market psychology. Today, candlestick charts are the universal standard across virtually every financial trading platform in the world.In this conversation, Steve pulls back the curtain on how candlesticks first arrived in the West, sharing the cultural and military roots of candlestick patterns, market psychology, and his foundational Trading Triad framework. In this episode, we explore:• How Steve Nison introduced Japanese candlestick charting to the Western world• Discovering candlesticks at Merrill Lynch through a Japanese broker and early Bloomberg charts• Translating 13+ rare Japanese books and working with Japanese technical organizationsy• Why candlesticks complement rather than replace traditional Western technical analysis• The mechanics behind his "Trading Triad" approach• Steve’s reflection on how candlesticks became the global charting standard• Advice for the next generation of traders pulling up candlestick charts today About Steve Nison:Steve Nison, CMT, is the founder and president of Candlecharts.com and is widely regarded as the authority who introduced Japanese candlestick charting to the Western world. He authored the landmark classic Japanese Candlestick Charting Techniques, which has been translated into 21 languages and fundamentally changed technical analysis across global financial markets. Over his 30+ year career, Steve has advised top institutional financial firms including Fidelity, J.P. Morgan, Goldman Sachs, Morgan Stanley, NYSE, and NASDAQ market makers and has presented by request at the World Bank and the Federal Reserve. Links + Resources:Get Free Candlestick Resources, a Free Consultation Call, and a $20 Gift towards your first program: https://www.candlecharts.com/welcomeWebsite: https://www.candlecharts.comX (Twitter): https://x.com/candlecharts Sponsor of Chat With Traders Podcast:Trade The Pool: http://www.tradethepool.com Time Stamps:Please note: Exact times will vary depending on current ads. 00:00 The Pioneer Who Brought Candlesticks to the West 07:42 A Japanese Broker and a Chart Book 08:35 Translating Rare Japanese Texts & Working with Japanese Analysts 10:22 Making Recommendations Based on Candles 13:46 Why Were You the First? 15:02 Military and Cultural History Behind Candlesticks 19:08 The Story Behind Discovering Price Windows 22:19 Everybody's Using Candlesticks 25:39 Dealing with Institutional Clients 28:14 The Lucky Number Three 31:19 Common Misconceptions Traders Have About Candlestick Patterns 32:36 The Trading Triad 36:34 An Ounce of Emotion Can Be Worth a Pound of Facts 41:01 Reflecting on the Global Shift to Candlestick Charting 41:55 Essential Advice for the Next Generation of Traders 42:48 Where to Learn More About Steve Nison & Candlecharts Trading Disclaimer: Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice. Learn more about your ad choices. Visit megaphone.fm/adchoices

Dr. Efrat t Levy is a cybersecurity expert with a PhD in Computer Science and AI from Ben-Gurion University—one of Israel’s top tech institutions. After years studying how to detect hackers through side-channel signals, she applied the same logic to trading. In this conversation, Dr. Levy explains how she uses machine learning to map non-repainting key levels that reveal the hidden order flow—the subtle timing and volume clues that expose the real intent of big players. She shows how correlated markets often move together at these key levels and how that insight helps her trade with precision and low drawdown. We discuss filtering noise, managing psychology, and bridging cybersecurity thinking with market analysis—exploring how data and discipline can uncover the quieter forces shaping market behavior. Links + Resources: ● Dr. Levy’s website: https://ctpacademy.com/ ● Dr. Levy’s email: [email protected] ● Dr. Levy on youtube: https://www.youtube.com/@EGIndicators ● Dr. Levy’s linktree: https://linktr.ee/efrat.levy Sponsor of Chat With Traders Podcast: ● Trade The Pool: http://www.tradethepool.com Time Stamps: Please note: Exact times will vary depending on current ads. ● 00:00 – Intro: From AI & cyber to trading ● 01:20 – PhD background, domains where AI applies ● 04:30 – First market exposure: anomaly detection for derivatives ● 07:45 – Side-channel analysis: uncovering hidden intent ● 12:10 – “Hidden order flow” and fingerprinting big players ● 18:30 – Single-tick levels vs. zones; why zones mislead ● 22:00 – The correlation filter: 3 of 4 assets hitting together ● 26:00 – Entries & stops: lowest drawdown mindset ● 30:30 – Managing trades by other markets’ levels ● 33:45 – Timeframe-agnostic approach; redefining “correlation” ● 51:00 – Instruments: indices, gold/silver/copper/platinum ● 56:00 – Psychological tripwires:streaks, missed A+ setups, ego risk ● 1:04:00 – How to reach Dr. Levy ● 1:05:00 – Catch up with Tessa Trading Disclaimer: Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice. Learn more about your ad choices. Visit megaphone.fm/adchoices