016: Tim Biggam – Tales from the pit, generating trade ideas, and a lesson in position sizing with an options veteran
It’s almost unfathomable to think that there was a time when it would take a couple minutes to execute an order. And now days we have traders taking extreme measures, just to get filled a nanosecond quicker than the next participant.
But for this weeks guest Tim Biggam, that was the reality when he first entered the world of trading during 1985. And that entrance was straight onto the floor of the CBOE.
Just a couple years into his journey, Tim experienced the full force of the infamous 1987 crash. While he survived, and was still in good shape to trade the following day, this gave him a true appreciation for the importance of correct position sizing, after seeing so many traders get wiped out. Tim really goes into the topic of position sizing and why it is absolutely vital to get it right during the later part of this interview, so make sure to stay tuned in.
Additionally, Tim does a great job of explaining some of the terminology associated with options, how he uses scanning technology to generate trade ideas, and a whole lot more.
TAKE NOTE: Tim will be keeping a close eye on the comments at http://chatwithtrader.com/tim – so be sure to leave a question you would like him to answer!