Chat With Traders

Jason Berry co-founded Positive Equity in 2008. Built alongside partners and traders who raised the bar, the firm operates trading floors in Ireland and Croatia. Over a 14-year stretch of verified clearing statements, his small losses, long career approach resulted in only five losing months.Most people think trading success comes from predicting markets. In reality, Jason's multi-decade longevity proves that true consistency comes from deep discipline, strict risk control, and surviving long enough for compounding to work, earning him a featured chapter in Jack Schwager's book, Market Wizards: The Next Generation.In this conversation, Jason pulls back the curtain on his journey from a remote Northern California commune to the chaotic trading floors of London and Dublin. He breaks down the realities of managing a decaying edge, his framework for identifying raw talent in trainees, and why surrounding yourself with a team of disciplined professionals is the ultimate source of career longevity.In this episode, we explore:· How Jason transitioned from an isolated childhood to the chaotic London trading floors· The hidden edges of the open outcry era and the nature of "elbow trades"· What Jack Schwager and the Market Wizards team look for when verifying a trader's record· The structural reality of Jason's risk-reward framework· Why summer vacations can cause traders to become rusty and lose touch with the market tape· How to spot decaying market edges through the P&L before they do catastrophic damage· The core personality traits and tells that separate successful trainees from those who fail· Jason’s outlook on which traders will survive the next decade of AI and machine learning About Jason Berry:Jason is a professional futures trader, co-founder of Positive Equity, and a featured market wizard in the book, Market Wizards: The Next Generation. Over a career spanning nearly 30 years, Jason has documented a legendary track record of consistency and durability. He has trained well over 200 traders, expanding his operations from Dublin to Croatia while championing a team-driven approach to market mastery. Links + Resources:X (Twitter): https://x.com/JasonHBerryLinkedIn: https://www.linkedin.com/in/jasonhberry 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 He Only Had 5 Losing Months In 14 Years 03:09 Introduction To Trading 09:33 Using Elbow Trades As An Edge 16:22 What Your Risk-Reward Looks Like 20:34 Can You Make A "Mr. Consistency" System? 25:29 What You Possess That Others May Also Have 30:23 Why You Get Rusty When Taking A Summer Vacation 35:56 How Important It Is To Constantly Innovate 38:51 What Traits You Can See In Your Trainees 45:10 The Single Greatest Rule In Trading 51:35 How Do You Scale Positions? 55:54 Which Traders Do You Think Will Survive The Next Decade? 59:45 Trading Euro Stocks 01:03:05 What The Next 30 Years Look Like For You 01:08:30 Have You Had Your Trainees Outperform You? 01:09:34 What Your Advice Is To Traders 01:14:11 Where Can You Find Jason Berry 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: efrat.levy@egindicators.com ● 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

We’re joined by Jack Schwager—author of the legendary Market Wizards series and co-founder of FundSeeder—along with his partner and fellow co-founder & CEO, Emanuel Balarie. Jack shares what it really takes to be considered for a Market Wizards book: not one formula, but a mix of standout performance, disciplined risk, and an almost obsessive commitment to process and adaptation. Along the way, we dig into why survival so often hinges on position sizing and pre-planned exits, whether strategies like trend following can still hold up today, and the paradox of how fundamental convictions can actually work against risk management. Emanuel then explains how FundSeeder discovers talented but undiscovered traders worldwide, using analytics to measure performance and the FundSeeder Rise accelerator (now part of RQSI) to help top performers make the leap from trading their own accounts to managing outside capital. Think of it as a “farm system” for the next generation of fund managers. Few will ultimately make the cut, but every great manager starts somewhere—and if you’ve been honing your craft and building a real track record, this episode might spark the thought: why not you? Time Stamps: Please note: Exact times will vary depending on current ads. 00:00 – Introduction and background 10:50 – What qualifies as “Market Wizards” performance 15:20 – Longevity vs. hot streaks 17:20 – Position sizing & cutting losses 19:20 – Obsession level + trainee mindset 24:20 – When edges die (index adds, VIX pattern) 27:20 – Trend logic vs. whipsaw reality 32:20 – Fundamentals vs. risk management 38:20 – “Know your exit before entry” 39:50 – FundSeeder origin story 42:20 – Evaluating traders (quant + qual) 48:20 – Why the Rise accelerator exists 52:20 – RQSI’s role in seeding talent 55:20 – Free analytics & benchmarking for traders 57:20 – How to apply / contact 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. Links + Resources: FundSeeder: https://fundseeder.com FundSeeder Rise (accelerator): https://www.fundseeder.com/rise FundSeeder on X: https://x.com/fundseeder Jack Schwager: https://x.com/jackschwager | http://www.jackschwager.com/ Emanuel Balarie: https://x.com/emanuelbalarie Sponsor of Chat With Traders Podcast: Trade The Pool: http://www.tradethepool.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Online funding prop firms have captured the attention of traders in recent years. In this episode, the CEO of Trade The Pool, Michael Katz, joins the podcast to answer key questions and offer perspective from inside one of the leading firms. The conversation explores how these firms operate, what they mean for traders, and the common debates surrounding them. The goal is not promotion of prop firms, but to pull back the curtain and provide a clearer understanding of the role prop firms play in today’s trading landscape. Links + Resources: ● Trade The Pool: http://www.tradethepool.com Sponsors of Chat With Traders Podcast: ● Trade The Pool: http://www.tradethepool.com ● Plus500: Try futures trading with Plus500 >> Start with a FREE demo or claim a bonus up to $200 with an open account 👉https://us.plus500.com Trading futures involves the risk of loss and is not suitable for every investor. Time Stamps: Please note - Exact times will vary depending on current ads. ● 00:00 Introduction and background ● 05:02 Attraction to Funding Prop Firms ● 06:06 Risk Management and Evaluation Fees ● 10:08 Misconceptions About Prop Firms ● 11:58 Education and Community Support ● 15:35 Trading Evaluation Process ● 18:47 Success Rates and Trader Psychology ● 20:04 Adjusting Strategies for Prop Trading ● 22:07 Rules and Boundaries in Trading ● 27:51 Success Stories and Learning Curves ● 28:58 Psychology of Funded Trading ● 31:52 Trader Retention and Patterns ● 33:54 Scaling and Risk Management ● 38:42 Payout Rules and Compliance ● 40:29 Adapting Rules for Trader Success 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

From academic struggles at SUNY Albany to holding the world record for the largest prop firm payouts—roughly $4.5 million in total, Kyle Ng a.k.a. JadeCap’s journey started out like many aspiring traders. Sparked by a childhood friend's success in forex about 14 years ago, he found his way into the financial markets. Like many traders, he went through the pain, losses and sacrifices and struggles, but at the same time he’s also unlike many traders, slowly building his edge through discipline, risk management, and a long-term mindset. Over the years, he’s leveraged prop firms to scale his returns, transitioning fluidly between forex and futures while adapting his approach to changing market conditions. Influenced by ICT’s teachings, his style blends patience, adaptability, and the wisdom to step back when the market calls for it. In this episode, we dive into the mindset behind the milestones, the real-life lessons from his trading evolution, and what it truly takes to thrive in trading. 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. Time Stamps Please note: Exact times will vary depending on current ads. 00:00 Introduction and background 10:25 Early trade experiences 12:30 Evolving strategies 16:55 Blowing up accounts 21:10 Evolving into a full time trader 25:55 Utilizing online prop firms to minimize risk 01:55 The real money is made with processes 35:05 ICT trading system 39:40 Success tied to intuition? 43:30 When to put the foot on the gas 50:00 Resisting the urge to change strategies 56:05 What Kyle struggles with 58:20 How to reach Kyle 58:40 Bonus Section: Tessa Chats with Kyle – more on prop firms Links + Resources Reach Kyle on X: https://x.com/jadecap_ Kyle’s YouTube Channel: https://www.youtube.com/@JadeCap Kye’s Instagram: https://www.instagram.com/jadecapofficial/?hl=en Sponsors of Chat With Traders Podcast: Plus500: Try futures trading with Plus500 >> Start with a FREE demo or claim a bonus up to $200 with an open account 👉https://us.plus500.comTrading futures involves the risk of loss and is not suitable for every investor. Trade The Pool: http://www.tradethepool.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Dylan Maltman, an intraday futures and forex trader and founder of Apex Capital, must have had exceptional clarity starting at a young age. Introduced to the markets in a high school presentation by a prop firm, Dylan caught the passion for the potential of the markets and persuaded his way into a position at the firm. Learning about back testing, he became obsessed with dissecting every nuance of past data so as to create a system with high returns with minimal drawdowns by understanding where edge can be found, as evidenced in the performance of the algorithmic strategies. Emphasizing the significance of order flow analysis and robust back testing, he offers important insights for algorithmic, systematic, and discretionary traders. Links + Resources: ● How to reach Dylan – Visit Apex Capital Website: https://www.apexcptl.com/ Sponsors of Chat With Traders Podcast: Plus500: Try futures trading with Plus500 >> Start with a FREE demo or claim a bonus up to $200 with an open account 👉 https://us.plus500.com/en/multiplatformdownload?product=Futures&id=138516&tags=version2&pl=2 Trading futures involves the risk of loss and is not suitable for every investor. Trade The Pool: http://www.tradethepool.com/?afmc=1am Learn more about your ad choices. Visit megaphone.fm/adchoices