57 min listen
The Trading Mistake 99% of People Make (Tom Basso's Secret Profitable Trading System)
The Trading Mistake 99% of People Make (Tom Basso's Secret Profitable Trading System)
ratings:
Length:
76 minutes
Released:
Apr 4, 2024
Format:
Podcast episode
Description
? Get your FREE 115-page Ultimate Trading Guide: https://traderlion.com/POD-UTG
? Next-Generation Stock Screener: https://traderlion.com/POD-DV
? Follow us on Twitter/X: https://traderlion.com/POD-X
? TraderLion Masterclass Courses: https://traderlion.com/POD-TLU
? Free Trading Academy: https://traderlion.com/POD-TLA
In this video, legendary trader Tom Basso challenges the conventional wisdom of blindly copying other traders. With almost 50 years of experience, featured in Market Wizards, and known for his calm, methodical approach, Tom shares why developing a personalized strategy perfectly aligned with your profile is the key to long-term trading success.
In this video, you will discover:
• Why you are unique: Understand the critical factors that shape your individual strengths and weaknesses as a trader.
• Tailored strategies: Learn how to craft a trading strategy that fits your unique risk tolerance, time availability, and capital.
• All-weather trading: Explore Tom's methods for navigating bull, bear, and sideways markets to minimize risk and maximize returns.
• The importance of self-assessment: Tom emphasizes the value of understanding yourself to make informed trading decisions.
About Tom Basso:
Tom Basso is a seasoned trader with almost 50 years of experience. He's known for his calm demeanor and consistent profitability. Tom's insights have been featured in Market Wizards, Trend Following Mindset, and his latest book, The All-Weather Trader.
Don't miss this opportunity to learn from one of the industry's most respected minds!
Follow Tom Basso on Twitter/X: https://twitter.com/basso_tom
Tom's New Book: https://amzn.to/3Botpw4
Enjoy the Ride Research: https://enjoytheride.world/
Enjoy!
- The TraderLion Team
Timestamps:
00:00 - Tom Basso - The All Weather Trader
04:58 - Why Copying Other Traders Doesn't Work
09:31 - How You Should Approach Trading
11:50 - Create a Personal Inventory of Yourself
14:48 - Tom's Objectives & Personal Inventory
18:34 - How to Develop Your own Complete Trading Strategy
23:01 - What an All-Weather Trader Must Do
24:28 - Attacking Risk Vs Avoiding Risk
28:04 - Timing Indicators Tom Uses
33:05 - Extreme Diversification & Stock Correlation
37:18 - Sideways Market
41:47 - Adding New Strategies
45:02 - Rebalancing Positions & Strategies
47:32 - Mental Side of Trading
49:00 - Never Trust Social Media Predictions
50:37 - A Personal All-Weather Plan
52:10 - Filling Your Strategy Potholes
55:10 - Limiting Drawdown by Sizing Hedges Correctly
56:24 - Independent vs Dependent Strategies
58:34 - Balancing Discretionary vs Systematic Trading
1:00:07 - Increasing Robustness in your System
1:02:39 - How Strategies Change Over Time
1:06:32 - Automated Trading Advice
1:09:22 - Secrets to Mastering the Mental Side
1:12:50 - Advice for New Traders
? Next-Generation Stock Screener: https://traderlion.com/POD-DV
? Follow us on Twitter/X: https://traderlion.com/POD-X
? TraderLion Masterclass Courses: https://traderlion.com/POD-TLU
? Free Trading Academy: https://traderlion.com/POD-TLA
In this video, legendary trader Tom Basso challenges the conventional wisdom of blindly copying other traders. With almost 50 years of experience, featured in Market Wizards, and known for his calm, methodical approach, Tom shares why developing a personalized strategy perfectly aligned with your profile is the key to long-term trading success.
In this video, you will discover:
• Why you are unique: Understand the critical factors that shape your individual strengths and weaknesses as a trader.
• Tailored strategies: Learn how to craft a trading strategy that fits your unique risk tolerance, time availability, and capital.
• All-weather trading: Explore Tom's methods for navigating bull, bear, and sideways markets to minimize risk and maximize returns.
• The importance of self-assessment: Tom emphasizes the value of understanding yourself to make informed trading decisions.
About Tom Basso:
Tom Basso is a seasoned trader with almost 50 years of experience. He's known for his calm demeanor and consistent profitability. Tom's insights have been featured in Market Wizards, Trend Following Mindset, and his latest book, The All-Weather Trader.
Don't miss this opportunity to learn from one of the industry's most respected minds!
Follow Tom Basso on Twitter/X: https://twitter.com/basso_tom
Tom's New Book: https://amzn.to/3Botpw4
Enjoy the Ride Research: https://enjoytheride.world/
Enjoy!
- The TraderLion Team
Timestamps:
00:00 - Tom Basso - The All Weather Trader
04:58 - Why Copying Other Traders Doesn't Work
09:31 - How You Should Approach Trading
11:50 - Create a Personal Inventory of Yourself
14:48 - Tom's Objectives & Personal Inventory
18:34 - How to Develop Your own Complete Trading Strategy
23:01 - What an All-Weather Trader Must Do
24:28 - Attacking Risk Vs Avoiding Risk
28:04 - Timing Indicators Tom Uses
33:05 - Extreme Diversification & Stock Correlation
37:18 - Sideways Market
41:47 - Adding New Strategies
45:02 - Rebalancing Positions & Strategies
47:32 - Mental Side of Trading
49:00 - Never Trust Social Media Predictions
50:37 - A Personal All-Weather Plan
52:10 - Filling Your Strategy Potholes
55:10 - Limiting Drawdown by Sizing Hedges Correctly
56:24 - Independent vs Dependent Strategies
58:34 - Balancing Discretionary vs Systematic Trading
1:00:07 - Increasing Robustness in your System
1:02:39 - How Strategies Change Over Time
1:06:32 - Automated Trading Advice
1:09:22 - Secrets to Mastering the Mental Side
1:12:50 - Advice for New Traders
Released:
Apr 4, 2024
Format:
Podcast episode
Titles in the series (59)
How to Build a Trading System | Interview With Stock Market Wizard Tom Basso (Episode 6) by The TraderLion Podcast