My guest today is Peter Brandt, a trader who has been in the commodity trading space since 1976. He's traded his own proprietary account from the late 1970s until today and is currently entering the hedge fund world by running a multi-CTA fund-of-funds. Brandt got his start in Chicago trading commodities and working at the Chicago Board of Trade for Continental Grain Company.
The topic is his book Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading.
In this episode of Trend Following Radio we discuss:
- How the accident influenced his trading and how great lessons can be learned through adversity
- The idea of trading a five-minute chart pattern vs. a weekly chart pattern
- The biggest mistakes you can make as a novice trader
- Averaging a loser
- Risk management and the right amount to risk on any trade
- Upside volatility and the fantasy of a straight line up of profit growth
- The importance of reducing the incessant head chatter and living in the moment now
Jump in!
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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/
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