THE DESKRESEARCH
The final ten · April 2026

Ten active traders worth following.

A deliberate mix of styles — momentum swing, short-term scalping, multi-timeframe technicals, high-stakes index futures, systematic momentum, classical charting, trading psychology, dealer-flow options strategy, community-verified relative-strength day trading. Ordering is by verifiability and clarity of teachable method, not "ranking."

01

Kristjan Kullamägi

Lifetime verified · Swedish tax recordsYTD estimateNo paid course
Style · Strategy
Swing-trader (2–10 day holds) of high-momentum US equities. Three archetypal setups: the Breakout (a stock with a 30–100% move in the prior 12 weeks forming a 2–8 week tight base along a rising 10/20 EMA, entry on the break of the consolidation high, stop at day-of-entry low); the Episodic Pivot (a stock gapping on a high-conviction catalyst — earnings surprise, FDA nod, upgrade — above all moving averages with no prior 30-day extension, entry on breakout of opening range high); and the Parabolic Short (climactic exhaustion in a high-momentum name 100%+ extended from the 10-day MA with a topping-tail daily candle, short on break of prior-day low). Position sizing 10–25% of account, risk 0.25–1.5% per trade, scale out one-third to one-half between day 3 and day 5, trail the remainder on 10 or 20 EMA.
Strategy vetting
The breakout and episodic-pivot method has real edge because it rides the persistence of institutional accumulation in momentum leaders — effectively a retail-executable version of the O'Neil / Minervini / Weinstein Stage-2 model, simplified by using moving-average slopes as a continuous trend filter. Edge is strongest in broad risk-on tape with sector rotation (2017, 2020-21, 2023-24), where 5–15% of stocks produce >50% moves in under three months. Failure modes: choppy rangebound indices (2022, parts of 2015) produce repeated small losses on failed breakouts, and the method suffers death-by-a-thousand-cuts without strict volatility-contraction filtering. A second failure is the scale-out problem — Kullamägi's own videos show most of his historical PnL came from a tiny handful of home runs, so risk management on the 95% of trades that don't become home runs is load-bearing.
PnL YTD 2026
Not disclosed
Estimate · +5% to +15%. His account has reportedly grown past $100M, forcing larger-cap / less-liquid names and slower compounding. 2026 tape through April is flat-to-down — unfavorable for his breakout engine. In similar low-volatility years (2015, 2022 H1) he has said he "sits on hands."
Lifetime track record
~$9,100 → $100M+
Verified growth from ~$9.1k in 2013 to ~$82M by March 2021, publicly referenced as $100M+ by 2024 via Financial Wisdom TV and Swedish tax records referenced in Timothy Sykes profile. One of the very few retail traders with an 8-figure PnL backed by a taxing-authority trail.
Background
Estonian-born, started trading in 2011 as a day-trader scalping news-movers; blew up four accounts in two years; transitioned to swing in 2013 after studying the pattern work of Nicolas Darvas, William O'Neil, Mark Minervini, and Stan Weinstein. Lives between Dubai and Sweden. Does not run a paid service — his full setup archive is free on qullamaggie.com and YouTube.
Why he makes the list
Kullamägi is the highest-verifiability retail trader of this generation. The tax-record trail alone puts him in a tier above essentially every other fintwit name. His method is teachable in a weekend, entirely visual, and — unusually — he has never launched a paid course. Content is free, which reduces charlatan risk to zero and aligns incentives with teaching rather than selling access. His public emphasis on asymmetry ("most of my money came from 5-10 trades a year") is the single most important lesson he transmits and maps cleanly onto decades of factor research on momentum persistence. His influence on the current generation of swing traders is enormous — virtually every successful 2023-2025 USIC contender cites him as an influence. The only reason not to place him at the very top is that his method is style-specific and underperforms in low-volatility tape, which is precisely the 2026 environment so far.

Notable content

Caveats
No paid offerings, but also no active mentorship — the learning curve is self-directed. Most people who try to copy the method fail at position sizing (going too big after a losing streak) or fail to sit through 20-30% drawdowns. Method underperforms severely in low-ADR tape. Not suitable for anyone who cannot hold through a 10% drawdown without shrinking size.
02

Lance Breitstein

Career PnL verified · Trillium recordsYTD not applicableSMB-endorsed
Style · Strategy
Short-term equities — intraday scalps and 1–3 day holds on US stocks with clear daily and intraday trend alignment, governed by a VWAP-based execution rule set. Core rules: never long below a stable intraday VWAP, never short above one (unless a capitulation print), size 25% larger when daily plus hourly plus 5-min trends align, avoid consolidating names. Signature setup: the A+ capitulation fade — multi-timeframe trend exhaustion with a high-volume tail candle that pokes through a prior high or low and reverses back under VWAP, sized aggressively (his "pocket aces"). Secondary: the exhaustion gap reversion — gap up on weak news after a multi-day run, fade the morning high.
Strategy vetting
The method works on two well-documented effects: intraday mean reversion after exhaustion-tail bars in high-liquidity names (the foundation of Raschke's "failure test" and Mark Fisher's ACD extreme work), and asymmetric bet sizing on recognized A+ setups — a direct application of Kelly-style EV maximization. Edge requires live, real-time execution and a robust read of tape. Breitstein has said publicly that "the countertrend becomes more powerful when trends are aligning on multiple timeframes," which is shorthand for conditional probability stacking. Failure modes: (a) newer traders cannot distinguish a true capitulation from a dead-cat bounce and fade trend continuations into ruin; (b) the strategy needs 8+ hours/day screen time, fast hotkeys, prop-level commissions — essentially untradeable retail without DMA; (c) fade-against-trend bias means one or two bad days can wipe a month.
PnL YTD 2026
Retired from active daily trading
Now Advisor to Trader Education at SMB Capital, runs the Impact Competition Foundation; personal PnL not disclosed and likely modest given reduced activity. Teaching and advisory, not daily prop-desk returns.
Lifetime track record
$60M+ career PnL
Verified 8-figure career PnL exceeding $60M at Trillium per multiple interviews and corroborated by Trillium's own X post and Retail Traders Repository interview. Top trader at Trillium in 2020 and 2021, with the firm's all-time annual PnL record.
Background
Indiana University finance grad; joined Trillium Trading in 2011; became Senior Trader and head of the Chicago office; trained and mentored "dozens of top discretionary intraday traders." Retired 2022 at age ~33 to focus on teaching and philanthropy. Runs theonelanceb.com and the Magnum Opus course.
Why he makes the list
Breitstein is the clearest example here of a verified, institutional-grade, short-term trader who has moved publicly into education without diluting his principles. The Trillium firm-record claim is unusually well-corroborated — the firm's own public posts, multiple long-form podcasts, management speaking on-record. His teaching framework has high fidelity because he explicitly separates his base-hit workflow (consistent, repeatable, small-edge trades) from his pocket-aces sizing (rare A+ setups). The "Daily Report Card" process is one of the best deliberate-practice frameworks in the business. Unlike most prop alumni, his course isn't sold via high-pressure webinars, and the Magnum Opus material has been reviewed as substantive rather than fluff. He carries the endorsement of SMB Capital (Bellafiore specifically) — as close to an institutional stamp of approval as retail education gets.

Notable content

Caveats
Magnum Opus course is reportedly low 4-figures — pricey for retail. His style fundamentally requires prop-caliber infrastructure (sub-cent commissions, multi-monitor tape, hotkeys), so retail traders will under-earn even if they execute the setups correctly. Post-2022 he is less in the daily trenches — the teaching is necessarily retrospective rather than real-time.
03

Brian Shannon, CMT

Self-run account · conservativeCMT · 30+ yearsPublished methodology
Style · Strategy
Multi-timeframe technical analysis of US equities, with Anchored VWAP as the central positioning tool. AVWAP is a VWAP calculation started from a trader-chosen reference bar — earnings gap, IPO day, swing high, high-volume reversal, FOMC day. Trade construction: identify the AVWAP the most-aggrieved cohort of shareholders is watching (e.g., from the most recent earnings-gap day), take longs on reclaim with confirmation, use that AVWAP as stop; shorts trade failures below a well-defined AVWAP. Trades are sized across three timeframes — investor (weekly/monthly), position (daily), swing (hourly/15-min) — with the rule that you only take the trade when the timeframe you are trading is aligned with the timeframe above it.
Strategy vetting
Edge comes from the fact that institutional desks actually do use VWAP as their benchmark (well-documented in market-microstructure literature since the 1990s), and reference-day AVWAPs become de-facto crowd memory levels where trapped buyers or sellers transact. The method is intellectually rigorous in a way that moving-average systems aren't — because AVWAP is volume-weighted, it carries more information than a time-only MA. Failure modes: (a) reference-bar selection is subjective and post-hoc fitting is easy; (b) in low-volume / dead tape the AVWAP signal degrades; (c) like any pullback / reclaim method it bleeds in choppy range-bound markets. Shannon's multi-timeframe filter reduces the choppy-tape problem but doesn't eliminate it.
PnL YTD 2026
Not disclosed
Estimate · +3% to +10%. Conservative swing-trading style (typically 3–8% per-position risk at 10–20% position sizes); plays with-the-tape rather than contrarian; 2026 YTD S&P roughly flat. Shannon is explicitly capital-preservation-first; Q1 2026 commentary characterized as "bear biased, patient."
Lifetime track record
Not audited
Estimate · 12–18% CAGR range. Inferred from 30+ years as a full-time trader without blowing up, two well-regarded books, CMT credential, no seven-figure-return claims, consistent positioning as a steady risk-controlled trader rather than a home-run hitter.
Background
American, Denver-based. Started as a stockbroker in Boston in the early 1990s, became a proprietary floor trader, founded Alphatrends in 2008. Chartered Market Technician. Author of Technical Analysis Using Multiple Timeframes (2008) and Maximum Trading Gains With Anchored VWAP (2023) — the definitive retail text on AVWAP. Regular presenter at Wealth365, MoneyShow, TradersExpo, CMT events.
Why he makes the list
Shannon is the quiet craftsman of the list — almost the opposite of the Kullamägi / Minervini type. He is the single most influential popularizer of Anchored VWAP among retail traders, and the tool has genuinely changed how a generation of active traders read intraday and swing structure. His teaching is measured, unhyped, and he has a near-unblemished 17-year record of delivering consistent educational content without scammy upsells. His multi-timeframe framework is intellectually honest — it tells traders not to take low-probability counter-trend setups, the single most valuable discipline for developing traders. He's a CMT, which is rare in retail circles and signals real institutional credibility. In the April 2026 tape, where breakout traders are underperforming, Shannon's AVWAP reclaim / rejection method handles sideways chop far better — his style ages well across regimes.

Notable content

Caveats
Paid services exist (chatroom, tiered mentorship, ~$1-2k tiers) but are well within norms. AVWAP reference-bar selection is discretionary and novices can overfit. Shannon is not a screaming alpha-generator — do not expect triple-digit years. His output is best consumed as method instruction rather than actionable calls.
04

Tom Hougaard

Danish competition recordYTD high varianceMindset-first
Style · Strategy
High-stakes intraday index-futures / CFD day trader. Primary instruments: DAX (DE40), Dow (US30), FTSE 100, occasionally S&P 500. Style is aggressive intraday trend-continuation with oversized position sizes once conviction is established. Typical day: wait for the first 30–60 minutes to define the day's character, identify whether tape is trending or mean-reverting, commit size in the direction of the trend, add on retracements to intraday structure, exit on close or on trend-break. He famously states he "does not use indicators"; entries are mechanical around breaks of round numbers, prior-day highs/lows, and ACD-style opening ranges. Risk is stated as extraordinarily large — routinely £500–£3,500 per point on DAX where retail would risk £5–£10 per point.
Strategy vetting
Hougaard's edge is not in the setup — his setups are basic classical price-action. The edge is in (a) his ability to hold through the natural discomfort of a winning trade (his central thesis in Best Loser Wins: discomfort-holding is the binding constraint in trading, not analysis), and (b) his willingness to size up dramatically on A+ trend days. In statistical terms he is taking a well-known small-edge setup (continuation after opening range break in a trending market) and levering it with psychological discipline. Failure modes: (a) the DAX / index CFD trading he does is essentially zero-sum against the broker, so retail imitators with wider spreads have smaller edges; (b) on range days the strategy is breakeven or worse; (c) oversizing on non-trend days is catastrophic — his own disclosure of £250k red days is consistent with a strategy that is high-variance by design.
PnL YTD 2026
Not publicly detailed
Estimate · high variance, +50% to -20% range plausible depending on whether 2026 delivers multi-day DAX trends. Hougaard is explicit that his returns are regime-driven — outsized wins in 2020 COVID vol; grinds in flat years. DAX YTD through April 2026 has had directional weeks, which favors his style.
Lifetime track record
DKK 250k → DKK 10M competition run
Four-time winner of a Danish public trading competition — most famously turning DKK 250,000 into roughly DKK 10,000,000 in one contest year. Documented in Danish national broadcast media and the intro of Best Loser Wins. Run on live brokerage accounts — as close to verification as retail-trader returns get in Europe.
Background
Danish, born 1969, moved to UK in 1992; economics/finance degrees from University of Wales and Birmingham. Worked at JPMorgan Chase, then spent 10 years as Chief Market Strategist for City Index (a major UK CFD broker). Left institutional life in 2009 to trade his own capital. Author of Best Loser Wins (Harriman House, 2022). Runs tradertom.com with a daily premarket-video subscription (~£60/mo), the London Price Action Symposium, and a chat community.
Why he makes the list
Hougaard represents a rare archetype — the European index-futures intraday specialist with a verified competition track. He is essentially the only high-stakes day-trader writer whose core thesis is psychological (hold winners through the discomfort; don't size them smaller to feel comfortable) rather than technical, and his articulation of this in Best Loser Wins is one of the most-shared trading books of 2023-2026. The Danish competition record is unusually clean — brokers, not the trader, audited the outcome. He trades daily and posts his daily reasoning, so retail can follow along and see the psychological framework actually applied, not just described. He also covers an asset class (European index CFDs / futures) that almost no other reputable trader on major US fintwit covers — uniquely valuable to non-US readers.

Notable content

Caveats
His current post-retirement track record is not independently audited, and a portion of his income comes from speaking and subscriptions. His size-per-point risk is explicitly something he warns retail readers not to copy — the book is about mindset, not sizing. CFD / spread-bet style trading is not available in the US. His signature £250k red-day disclosure is a feature not a bug for his style, but retail traders should not emulate that variance.
05

Mark Minervini

Students USIC-audited1997 USIC winnerPremium community
Style · Strategy
SEPA — Specific Entry Point Analysis — a systematic momentum-growth equities method fusing technical and fundamental filters. Required preconditions: stock meets the Trend Template (price above 50/150/200 SMAs, with 50>150>200 and 200 rising for 1-5 months, within 25% of 52-week high); EPS growth accelerating; revenue growth >20%; margin expansion; institutional accumulation; relative strength rank ≥70. Primary setup: the Volatility Contraction Pattern (VCP) — a base with successive tighter pullbacks on declining volume, often 3–4 contractions going from ~25% to ~5% depth. Entry: break of pivot (tip of final contraction) on volume 40-50%+ above average. Stop: 5-8% below pivot, hard-exited when hit. Position management: scale partials at 2R-3R, trail on moving-average / swing-low structure.
Strategy vetting
SEPA has the deepest empirical lineage of any method on this list — a refinement of O'Neil CANSLIM / Darvas Box / Weinstein Stage Analysis, with enough rule specificity to be partially mechanical. Edge is strongest in bull markets with clear sector rotation and narrow leadership (2013, 2020-21, 2023-24). The VCP structure is the observable signature of institutional accumulation: big funds buy more patiently than retail, so each pullback is smaller as supply is absorbed. Failure modes: (a) in bear markets or transitioning tapes the method can't find qualified setups and the trader must sit in cash — Minervini says he spends 60-80% of bad markets in cash; (b) failed breakouts are extremely common, hard stops are the binding constraint; (c) fundamental filters mean you often pay a rich multiple — if sentiment rotates from growth to value, SEPA names get hit hard.
PnL YTD 2026
Personal · not disclosed
Students — verified USIC. Bob Weissman (Minervini Private Access) won the 2025 $1M+ Enhanced Growth division at +115.4%; multiple Private Access members set world records in 2025.
Lifetime track record
1997 USIC · +155%
Won the 1997 US Investing Championship at +155% with published 5-year average returns of 220% (self-reported). Three Minervini-trained traders have since posted USIC records of +252.3% (J Law, 2025), +353.9% (J Law, 2024), and +2,115.1% (Tito Adhikary, 2025 $20k-$1M Enhanced Growth). 2024 USIC · 2025 H1.
Background
American, largely self-taught, started trading in the 1980s. Author of Trade Like a Stock Market Wizard (McGraw-Hill, 2013), Think and Trade Like a Champion (2016), Mindset Secrets for Winning (2019). Runs Minervini Private Access, a high-priced premium community (~$10k+/yr tiers).
Why he makes the list
Minervini clears the bar because the downstream verification trail is exceptional. His students dominate the independently audited US Investing Championship — not anecdotal, a publicly audited real-money contest with 500+ competitors. The SEPA framework itself is rigorous enough to appear in formal academic work (Aziz & Zarattini's SSRN papers use methodologically adjacent ORB tests). He is 60+ and still trading actively, still publishing, and the method has survived regime changes from 1997 through 2025. His content is also unusually prescriptive — unlike most teachers he gives specific numbers (25% from 52-week high, 40-50% volume on breakout, 5-8% hard stop) — so students can actually know whether they're following the method. He coexists with Kullamägi on this list because they cover overlapping but distinct niches — Kullamägi is more tape-driven and faster; Minervini is more fundamental and longer-timeframe.

Notable content

Caveats
Private Access pricing is high (~$10k+/yr tiers), community culture is highly curated. Critics note many students buy in and never qualify under the strict setup rules — either a feature (discipline filter) or a bug (pay-to-not-trade) depending on viewpoint. Some social posts have a polemical tone readers may find off-putting. No regulatory action, but commentators occasionally complain about hard-sell marketing.
06

Linda Bradford Raschke

Schwager Market Wizard40+ year trackYTD estimate
Style · Strategy
Short-term futures and index trading, 1–5 day holds, with a deep library of named setups built over four decades. Core setups: 80-20's (after a bar closes in the top 80% / bottom 20% of its range, fade the next-day probe of the prior extreme); Turtle Soup (fade a failed 20-day breakout on day-of-failure); Holy Grail (20-EMA pullback in a stock with 14-ADX > 30); Anti (countertrend pullback after momentum extreme); 3-bar triangle breakout (consolidation breakout after three tightening bars). Raschke trades multiple markets — S&P / NQ futures, grains, treasuries — with volatility-weighted sizing so each position risks similar dollars. Top-down preparation (weekly → daily → intraday), targeting ~14-20 swing trades per year per market.
Strategy vetting
Raschke's setups are the most-tested and most-copied library in retail trading — they appear in Schwager's New Market Wizards, countless TradingView scripts, and Larry Connors' Street Smarts. The edge comes from two sources: (1) identifying failure patterns — most of her named setups are failed move trades, which work because latecomers who took the failed move now have to unwind — and (2) strict volatility-based sizing so that variance is comparable across instruments. Failure modes: (a) her most famous edges (80-20, Turtle Soup) have been widely copied since the mid-1990s — she has herself acknowledged many patterns have degraded except the Holy Grail; (b) setups are highly regime-sensitive — fading failed breakouts works well when breakout follow-through is low but bleeds in persistent trends; (c) requires futures-caliber infrastructure.
PnL YTD 2026
Not publicly disclosed
Estimate · low-single to mid-teens %, assuming her discretionary book continues to track the profile of her historic 15-25% CAGR range. No regime red flag in Q1 2026 to suggest outsized divergence from her historical profile.
Lifetime track record
Schwager-verified
Verified as a Schwager New Market Wizard (first woman profiled in the series). Managed money at Raschke Investments / LBR Group from 1981; her hedge fund launched 2002 was ranked 17th of 4,500 for 5-year performance. CTA records suggest sustained 15-25% CAGR over the auditable periods of her career.
Background
American, born 1959. Started in 1981 as a market maker in the options pit at the Pacific Coast Stock Exchange. Co-author with Laurence Connors of Street Smarts: High Probability Short-Term Trading Strategies (1995) — one of the top-5 most cited short-term trading books. Runs lindaraschke.net, hosts trading boot camps, and does regular webinars.
Why she makes the list
Raschke is the living legend of short-term trading — 40+ years continuous, the first-woman Schwager profile, and the author of the single most foundational short-term pattern library in the literature. Her influence on everyone from Kullamägi (the Turtle Soup pattern lives in his parabolic short) to Minervini (volatility-based sizing) to Bellafiore (SMB's "second day play" is pure Raschke) is immense. She genuinely focuses on sub-weekly timeframes rather than drifting into position or macro work. Her material is priced fairly, her podcast appearances are substantive rather than promotional, and she has publicly and honestly acknowledged which of her setups have degraded over time — that epistemic honesty alone is rarer than alpha.

Notable content

Caveats
Some original edges (e.g., 80-20) have been arbitraged down since publication in 1995. Teaching is not cheap but within norms (~$500-2k). Primarily a futures trader — equity-only traders need to adapt principles rather than copy setups literally. Posting cadence has slowed relative to her 2000s-2010s peak.
07

Peter L. Brandt

IRS-reconciled lifetime50+ yearsYTD estimate
Style · Strategy
Classical-charting position trader across commodities, FX, metals, and select equities / crypto, with 2–12 week holds. Method: look for clean multi-month classical chart patterns (head-and-shoulders, symmetrical / ascending / descending triangles, flags, rectangles, double tops / bottoms) on daily or weekly charts, enter on the breakout / pattern completion, use a predefined stop at the pattern's invalidation level, target the pattern's measured move. Sizing: aggressive equity-per-trade discipline (historically 0.5–1.5% per trade), hard cap on open risk, portfolio-level drawdown stops. Very low trade frequency — ~50-80 entries per year.
Strategy vetting
Classical charting is one of the oldest documented edges (Edwards & Magee, 1948), and its core mechanism — patterns reflecting supply/demand equilibrium transitions — has proved durable. Brandt's application is distinctive because (a) he only takes the cleanest, textbook patterns and rejects everything else, and (b) he trades asymmetrically with small initial risk and long runners, relying on 3-5 big winners per year to drive the track record. Edge is regime-agnostic — pattern opportunities exist in bull, bear, and sideways tapes across commodities, FX, and crypto. Failure modes: (a) false breakouts are brutal and frequent — Brandt's trade-level win rate is ~35-45%, compensated by 3-5x winners; (b) discretion in pattern selection introduces subjectivity; (c) the method requires patience that most retail traders don't have.
PnL YTD 2026
Not disclosed for 2026
Estimate · +10% to +25%. Based on (a) his 40+ year IRS-audited ~41% average annual return, (b) 2026 YTD commodity volatility providing a normal pattern-rich environment, (c) his own recent tone being bullish on a handful of commodity / FX setups. Deliberately discounted to long-term average because his stated preference has been to reduce size as the account has grown.
Lifetime track record
41.56% avg annual (IRS)
Self-reported average annual compounded return of 41.56% (IRS-reconciled) and 77.8% (VAMI methodology) through 2009, published in Diary of a Professional Commodity Trader (Wiley, 2011). Tax-filing reconciliation is as good as retail audit gets. Endorsements from Jack Schwager and Christian Siva-Jothy (ex-Goldman head of prop).
Background
American, started in commodities at ContiCommodity (1976), founded Factor LLC in 1980, handled institutional accounts including Campbell Soup and Commodities Corporation (Princeton). Retired 1995, returned to trading 2007. Based in Arizona / Colorado. Writes peterlbrandt.com, hosts the Factor Report subscription, and is one of the most-followed commodity chartists on X.
Why he makes the list
Brandt is the elder statesman of classical chart pattern trading and one of only two or three retail-facing traders on this list whose lifetime numbers are backed by tax-filing-level disclosure. His method transfers cleanly across asset classes — unusual, since most traders here have a narrow instrument focus. Factor Report is structured so subscribers see pattern calls before trades are taken — the opposite of signal-service grift. He has been publicly correct on several major calls (2017 Bitcoin top, 2020 gold breakout, 2024 silver setup) and openly transparent about his misses. At 78 he still posts daily, still trades his own capital, and still refuses to sell a "course" — his paid offering is the monthly Factor Report at around $100/month, inexpensive by industry standards. For readers interested in FX, commodities, or crypto (not just US equities), Brandt is the single most useful trader on the list.

Notable content

Caveats
Classical charting is derided in some quant circles as subjective; retail copycats who take every "triangle" get slaughtered because they lack Brandt's filters. Outspoken on social media. Trade frequency is very low (~1-2 ideas per month) so the Factor subscription is for position / swing traders, not intraday. Some large 2017-2022 crypto calls aged better in direction than in timing.
08

Dr. Brett Steenbarger

Not a return generatorClinical psychologist20+ years prop coaching
Style · Strategy
Steenbarger is primarily a trading performance coach whose role on this list is as the benchmark for mindset / process, not setup generation. He does personally trade US equities with short-to-intermediate-timeframe swing positions informed by indicator-driven momentum and breadth analysis, but the reason to follow him is for his psychological and methodological frameworks. His coaching spans hedge funds, prop desks, and investment banks; his published teaching covers deliberate-practice structures, cognitive-behavioral techniques for trading psychology, positive-psychology strengths identification, and journaling as performance infrastructure.
Strategy vetting
Steenbarger is the only clinical psychologist on this list and the only one whose work is grounded in peer-reviewed behavioral research. The "edge" he teaches is not setup-level alpha but process alpha — the compounding advantage of deliberate practice, structured journaling, self-awareness, and strengths identification. This edge is real and well-documented in the expertise-acquisition literature (Ericsson on deliberate practice, cognitive load theory, CBT). Failure modes: (a) without a genuine underlying method, better mindset will not produce profits — Steenbarger's approach is a multiplier, not a generator; (b) his frameworks can be misapplied by traders who use them as rationalization rather than diagnosis; (c) his recent move toward positive-psychology is a soft pivot that some find less useful than the hard-edged process work of his earlier books.
PnL YTD 2026
Not applicable
Steenbarger does not hold himself out as a return-generating trader — his output is coaching. No PnL figure is applicable or relevant to the reason to follow him.
Lifetime track record
Author · coach
The Psychology of Trading (Wiley, 2003); Enhancing Trader Performance (2006); The Daily Trading Coach (2009); Trading Psychology 2.0 (2015); Radical Renewal (2019); Positive Trading Psychology (2025). All Wiley or major imprints. 20+ years of coaching at top prop firms.
Background
American clinical psychologist. Duke undergrad, PhD in clinical psychology from University of Kansas. Teaching Professor of Psychiatry at SUNY Upstate Medical University. Moved into trader coaching in the late 1990s. Has consulted for major prop firms, hedge funds, and investment banks. Runs the free TraderFeed blog with daily posts since 2005.
Why he makes the list
Steenbarger is the one name here whose value is orthogonal to the others — he makes the other nine traders' methods more likely to succeed for you. Over 20 years his blog has produced essentially all the foundational vocabulary that retail-to-prop trader development now uses: "trading the right chart," "A+ setups," deliberate-practice models, process-oriented goals, the journal as performance infrastructure. He charges nothing for the blog and doesn't run a signal service. Every top prop desk of the past two decades has had Steenbarger in the room at some point — institutional credibility that is rare in retail-facing figures. His 2025 book Positive Trading Psychology pivots the field from "fix your weaknesses" to "build on your strengths," which is a better-supported clinical position. He is consistently self-critical and updates his views — in a field of dogmatic personalities, his epistemic humility is unusual and worth modeling.

Notable content

Caveats
Not a signal / setup source — readers looking for "what to trade" will be frustrated. His more recent positive-psychology work is divisive: some find it essential, others find it softer than his 2000s-2010s material. No personal PnL track record means he is not a strict peer of Kullamägi / Brandt / Hougaard as a trader per se.
09

Cem Karsan

Institutional fund · not public returnsEx-CBOE market-maker26 years vol
Style · Strategy
Options-flow and dealer-positioning strategist / PM. Kai Volatility Advisors runs three strategies: a long-volatility overlay fund, a volatility-neutral relative-value book, and a dealer-flow strategy that trades directionally based on dealer gamma / vanna / charm exposures. Core positioning read: aggregate the market's options open interest to estimate dealer net gamma by strike, infer the forced-hedging flow implied by intraday moves, and position for volatility regime continuation (in negative-gamma regimes) or mean-reversion (in positive-gamma regimes). The three metrics he watches most closely are 30-day skew, dispersion, and VVIX.
Strategy vetting
The dealer-positioning / gamma-hedging framework is one of the most important market-structure developments of the past decade and has been validated in academic finance literature and institutional desk coverage. Edge exists because a large fraction of listed options are now traded by price-insensitive end-users (covered-call ETFs, collar-buyer corporates, retail 0DTE), whose systematic flows force dealers into predictable hedging. Karsan's Kai Volatility was one of the first firms to commercialize this retail-accessible framing. Failure modes: (a) the gamma model is a probability distribution, not a timing signal — it tells you what dealers are forced to do if price gets to X, not when; (b) in regime changes (March 2020, August 2024 yen unwind) the gamma model fails because real-money selling overwhelms dealer hedging; (c) retail applications often conflate "gamma level" with "magnet" — the level is a pivot, not a destination.
PnL YTD 2026
Fund-level not public
Estimate · long-vol book +5% to +20% if realized volatility has been elevated (as Karsan's thesis predicted); vol-neutral book close to benchmark. No live return is public but the framework has been directionally correct through 2025's choppy tape. Was publicly bearish in 2025 ("Wild Volatility To Send Stocks Down 35-45%").
Lifetime track record
26 yrs · ex-CBOE MM
Kai Volatility has run since ~2016. Karsan publicly states 26 years as a quant / vol / flow PM, including acting as a former CBOE market-maker trading over 10% of SPX options 2006-2010 (LinkedIn). Kai's fund-level returns are not on the public Barclay Hedge tape; disclosed to qualified investors only.
Background
American-Turkish. Former CBOE market-maker in SPX options (2006-2010), portfolio manager at Heffernan Capital Management and other buy-side roles, founded Kai Volatility Advisors in 2016. Runs Kai Wealth and co-hosts the U Got Options podcast with CBOE partnership episodes.
Why he makes the list
Karsan represents a category missing from the prior iteration — the options flow / dealer positioning specialist. This niche now matters enormously: 0DTE options are ≥50% of SPX volume, and dealer-hedging flows materially shape intraday tape in a way that was not true 10 years ago. Karsan is the most-cited educator on this for retail audiences (SpotGamma is adjacent, covered in honorable mentions). His public calls through 2024-2026 have been directionally strong enough to move fintwit — the 35-45% drawdown call in April 2025, while not precisely achieved, captured the macro tone correctly. He brings a quantitative-institutional vocabulary (vanna, charm, VVIX, skew) into retail discourse without the frat-boy fintwit bluster, expanding readers' toolkit in a way few traders manage. He is not selling a course — his revenue is institutional fund management, which fully aligns his incentives with being right.

Notable content

Caveats
Karsan is not a retail day-trader — his framework is directly usable only by options-aware traders, and mis-implementation (treating gamma levels as dogmatic magnets) is common. Some macro calls have been early (a feature of contrarian / macro work but costly if sized wrong). Kai funds are not accessible to retail LPs. Very polemical on macro and political issues, which colors some readers' reception.
10

Vincent Bruzzese · Hari Seldon

Forum-auditable trades120k communityAnti-grift subreddit
Style · Strategy
Relative-strength day trading of US equities (stocks and short-term options on stocks). Core method: (1) categorize the day's SPY regime — trending up / trending down / choppy — via a disciplined morning checklist; (2) scan for stocks exhibiting relative strength or weakness vs SPY at that moment (RS/RW measured as the stock's deviation from its expected move given SPY's move); (3) only take long RS trades on up days, short RW trades on down days; (4) use classical intraday technical confirmation (AVWAP, prior-day high/low, 5-min EMA stack) for entry; (5) hold typically 30 min to several hours intraday, occasionally swing. Position risk 1-2% per trade, targets as multiples of risk. He publishes a "Walkaway Analysis" tool — reviewing each trade for whether the trader walked away too early or too late relative to optimum exit.
Strategy vetting
Relative-strength day trading is one of the most theoretically defensible day-trading methods because it explicitly conditions on index regime — a stock that is strong on an up day when SPY is also up is exhibiting a compound probability signal, not random momentum. The approach essentially hedges out beta exposure and isolates idiosyncratic flow. Edge is strongest in tapes with clear directional days and distinct single-name leadership; weakest in choppy / rangebound SPY where RS/RW signals whipsaw. Failure modes: (a) the "on an up day" regime judgment is subjective and timing-sensitive — calling SPY direction wrong at 10am blows up the entire trade universe for the day; (b) RS measurement requires clean intraday reference points and can be gamed by low-float / news-driven spikes; (c) the method is stock-selection intensive — a bad scan list ruins the day.
PnL YTD 2026
Not disclosed in detail
Estimate · +5% to +20%. Bruzzese posted publicly that SPY "hasn't moved since September 2025" as of his early-2026 TradeCraft episodes, implying a choppy / flat environment that is structurally difficult for his style. He has explicitly said he's sizing down during the current dead-tape regime.
Lifetime track record
Forum-visible
Publicly shared trade-level performance including a period of his last 100 trades at a 95% win rate with profit factor ~40; reported annual returns "north of 60% and even 80%" in strong-tape years. Self-reported but he posts trades live in r/RealDayTrading and OneOption chatroom where his community verifies the posted entries and exits. Not third-party audited.
Background
American, former statistics professor, former Hollywood behavioral analyst (statistical predictive modeling on audience reactions to films). Moved into trading after a poker background, blew up accounts twice in his first years, rebuilt methodically. Founded r/RealDayTrading (~120k members as of 2026) — the most rigorous free day-trading community on the internet. Has a 2025 Chat With Traders appearance (Ep. 312) and hosts the TradeCraft podcast.
Why he makes the list
Bruzzese / Hari Seldon represents a category that barely existed 5 years ago: the public-forum day-trader whose entire process is auditable by the crowd. Unlike nearly every other trader on this list, his trade log is visible to a 120k-member community that is actively hostile to bullshit. The r/RealDayTrading "flaired trader" system is the closest thing to a retail-verification mechanism ever built — and he founded it. His RS/RW method is pedagogically excellent for intermediate traders precisely because it forces them to think about conditional setups (stock × market × time) rather than standalone patterns. His willingness to publicly admit when a regime is bad for his style (as he has done in 2025-26 about the flat SPY tape) is the opposite of the permabull fintwit grift. His background as a stats professor and poker player shows through in how he talks about EV, variance, and risk — it is higher quality than 90% of retail-facing content. Finally, the RealDayTrading community itself is an extraordinary educational resource, and his leadership of it has real cultural value for the retail ecosystem.

Notable content

Caveats
Commercial ties with OneOption (Pete Stolcers's platform, ~$40-80/mo) — disclosed but worth noting. Trade-level win rate claims are not third-party audited — the r/RealDayTrading forum is semi-public verification, not the same as a broker statement. The RS/RW method underperforms in dead tape — his own commentary is honest about this. The community is large but dogmatic in places; treat it as one viewpoint, not gospel.