This is a clip from my conversation with Michael Katz, a day trader, stocks and futures. Michael also helps run <a href='https://tradethepool.com/'>Trade the Pool</a>, a prop firm based in Israel.  I think you’ll find some useful tips and insights dotted about in this conversation, a handful perhaps that are worth noting down, especially if you’ve not been trading more than 2 or 3 years. <a rel="payment" href="https://www.patreon.com/atraderslifepodcast">Support the Show.</a><a href='https://www.buzzsprout.com/1231772/supporters/new'>Subscribe to A Trader&apos;s Life &lt;&lt;</a> <a href='https://twitter.com/ATradersLife_'>A Trader&apos;s Life on Twitter. </a> And if you&apos;re a trader with some stories you&apos;d like to share and you&apos;d like to be on the how, don&apos;t hesitate to reach out: nic.penrake@gmail.com. Link up with me on <a href='https://www.linkedin.com/in/nicpenrake/'>Li</a>.

Episode 73 | Michael Katz - Day trader

How do traders do it, overcoming setbacks, managing their risk and reining in their emotions to take chunks of money out of the markets? Showhost Nicholas Penrake chats with traders from all kinds of backgrounds, inviting them to share with us their highs and lows on their way to achieving consistent results.&nbsp;Trading is a tough game – they say only around 5 per cent of those who try actually make a profit. Listen to A Trader’s Life to glean some valuable insights from the market wizards Nic get to talk to.&nbsp;If you glance at my profile on LinkedIn, you’ll see I’m no big shot trader. Mid way through 2023, after nearly three years' trading, I'm still only break-even.&nbsp; But every week I learn something new. And part of that learning process is enriched by talking and listening to other traders, those with more experience than I have.We all know that emotions can seriously derail your trading aspirations. It's been my experience - and I hope you agree - that every so often listening to other traders' stories can not only be instructive but inspirational, even comforting, to a degree. &nbsp;Just one example: one of my guests lost 50,000 in just a just a few months. Today’s she’s crushing it in commodities. How did she do it? You come here to find out.And here’s the thing… the picture I’m getting is that it’s not so much about the money, it’s about the challenge.It’s also about freedom: finding a pursuit that can make you an income that only relies on your smarts and an internet connection.If you can get there, trading can potentially free up your day, allowing you to explore a world that extends far beyond the daily commute to an office.So, if you’re a trader interested in comparing your story with the stories of traders who’ve cracked it, or even if you’re just curious about trading, grab your headphones, open your browser and have a listen – A Trader’s Life.