030: Tom Basso – The Logic of Trend Following, and How to Improve Your Trader Psychology w/ a Market Wizard

Chat With Traders

Kevin Avery

Investing, Education, Business

4.8 • 2.3K Ratings

🗓️ 23 July 2015

⏱️ 82 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week we’re taking it up a level… I had the honor of interviewing the legendary Market Wizard, Tom Basso, president of former money management firm, TrendStat. Tom started his working life as a chemical engineer, often discussing stocks and investing with colleagues. As he started to experiment with trading from a $2000 account, there was no beginners luck in sight. Tom consecutively lost money for the first few years before things started to turnaround. With a series of events that followed, Tom went from trading his own money, to forming TrendStat and managing other peoples money. At the peak of his career, TrendStat managed $600million dollars of capital. And while Tom’s now retired, he still actively studies the market and continues to trade. This interview covers many topics that range from trend following and systematic trading, to psychology and why you must never forget to ‘enjoy the ride’. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Chat with traders is sponsored by Trade the Pool.
0:03.6	Our concerns about limited buying power, insufficient capital,
0:07.3	or fear of losing your own money,
0:09.5	preventing you from advancing your trading capabilities.
0:12.4	Trade the Pool is an online stock trading prop firm
0:15.8	that offers funding for stock traders.
0:18.1	Demonstrate your skills, trade their capital,
0:21.0	and keep your profits.
0:22.5	You can engage in intraday trading,
0:24.9	and now swing trading on Trade the Pool.
0:27.8	With any US stock or ETF,
0:30.3	the procedure is straightforward.
0:31.9	Pay in evaluation fee, successfully complete the evaluation,
0:35.8	and get funded.
0:36.8	Visit TradeThePool.com forward slash chat to learn more.
0:57.8	To chat with traders, here's your host, Aaron Feifield.
1:01.6	Hey guys, what's up?
1:12.1	Welcome back to another episode of the Chat with traders podcast.
1:15.9	This is episode number 30, and thank you so much for taking the time to tune into another
1:20.9	episode of the podcast.
1:22.6	It's awesome to have you listening.
1:24.6	Now, this week we're taking things up a level.
	...

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