In this episode of Band of Traders, host Kyle chats with traders Baba Yaga and Fleri about trading discipline, life updates, and a controversial new tax bill. Baba Yaga shares his return to trading rooms after his kids start school, emphasizing mental clarity from reduced screen time. Fleri discusses the challenges of sticking to trading rules to avoid emotional tilt and revenge trading. The group dives into the 2025 tax bill's 90% loss deduction cap, exploring its impact on poker pros, high-volume gamblers, and potential ripple effects for prop firms and day traders. With candid insights on risk management, gambling ecosystems, and bourbon banter, this episode offers practical advice for traders navigating discipline and regulatory changes.
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Baba Yaga:
Solving problems, helping set goals, and refining processes is the bulk of Baba's passion. He does that in many contexts ranging from nonprofits to real estate firms and everything in between. He focuses on market structure through the lens of TPO charting and executes based on volume, misplaced large orders, and delta. He loves the opening range breakout and typically trades the market from the “inside out”.
Follow Baba Yaga on Twitter
Fleri:
Fleri is a seasoned trader whose journey began in the early days of crypto exchanges and mid-cap stocks. Evolving over time, he redirected his focus to futures and intraday trading, specifically honing his expertise in ES, NQ, RTY, CL, and UB. His approach is deeply rooted in Market Auction Theory, navigating the market by tracking participants through a nuanced blend of pattern recognition and the confluence of Price Action and Order Flow.
At the heart of Fleri's trading philosophy is a meticulous plan of execution, identifying areas for the auction to potentially seek value. Leveraging Order Flow and Price Action, he capitalizes on opportunities that present themselves throughout the trading day. Fleri is not just a trader; he's a dedicated educator, sharing his insights through podcasts, Twitter, and Discord to support fellow traders on their journeys.
What sets Fleri apart is not only his technical prowess but also his lighthearted approach and transparency about both past and current struggles. In the complex world of trading, Fleri brings not only expertise but also a relatable and open demeanor, creating a supportive environment for traders to learn and thrive.
Follow Fleri on Twitter
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