048 – Interview w Market Wizard Tom Basso

Tom was CEO of Trendstat Capital Management, Inc., an Investment Advisor (RIA) and Commodity Trading (CTA) firm, managing $600 million at its peak. An engineer by degree, he approaches the markets with math and computers.

He has now authored three books:  Panic Proof Investing, which is dedicated to helping investors, and Successful Traders Size Their Positions – Why and How? which helps traders size their trading positions, and The All-Weather Trader which is a sort of biography of how Tom evolved from a new trader to a seasoned, successful trader and Market Wizard.

Tom was one of the traders featured in The New Market Wizards by Jack Schwager, a book on successful traders.  Tom currently has a website: enjoytheride.world with educational resources for traders.

Download your free copy of “Break the Cycle” and interrupt the patterns of the past so you can stop giving back your profits —}  https://insideouttrading.com/break-cycle/

Watch it here on YouTube —> ⁠https://youtu.be/BFkgzEoCd2s

Show Notes

• Tom's background in chemical engineering and transition to trading.
• We discuss on the commonality of engineers in the trading space.
• Tom's representation as “Mr. Serenity” in “The New Market Wizards” and his recent book, “The All Weather Trader.”
• Overview of EnjoyTheRide.world, where Tom shares thoughts on mental techniques, trading, health, golf, wine, and personal matters.
• The impact of AI on trading and the potential for personal AI assistants.
• Discussion on the potential challenges and swings associated with high-return strategies.
• He talks about the importance of selecting the right tools and strategies in trading.
• We discuss on the psychological aspects of trading, including the importance of stepping back, maintaining a big-picture view, and understanding that losses are part of the process.
• He emphasized the importance of enjoying the journey in trading, especially given the ups and downs of the markets.
• He advised traders to maintain balance in their lives and not let the stress of trading overwhelm them.
• He stressed the importance of having a well-defined strategy rather than making impulsive decisions based on social media or other sources.

This podcast is brought to you by https://www.insideouttrading.com, where the focus is specifically on CONSISTENCY, so you'll find all sorts of unique resources to help you trading profitably and with confidence.

• Book a free consultation with Brian here ? https://insideouttrading.com/book-a-call-w-brian/
• “The Science of Consistency Applied to Trading” video — https://insideouttrading.com/register-for-the-science-of-consistency-masterclass/
• The Proven Formula for Consistent Monthly Profits — https://www.insideouttrading.com/
• “Enough To Be Dangerous” short report — https://www.insideouttrading.com/enough-to-be-dangerous-report/
• Work with Brian — https://www.insideouttrading.com/schedule-a-call-with-brian/

About the podcast

• On Spotify – https://podcasters.spotify.com/pod/show/brian-mcaboy8
• On Apple Podcasts – https://podcasts.apple.com/us/podcast/consistent-profits-podcast/id1677400820
• On YouTube – https://www.youtube.com/playlist?list=PLWBHY_-GTmgEQmz302Iog3bi5xnIF1xyZ
• On Google Podcasts – https://podcasts.google.com/feed/aHR0cHM6Ly9pbnNpZGVvdXR0cmFkaW5nLmNvbS9ibG9nL2NhdGVnb3J5L3VuY2F0ZWdvcml6ZWQvZmVlZC8
• On Radio Public – https://radiopublic.com/consistent-profits-podcast-6Bx9yM
• On iHeartRadio – https://www.iheart.com/podcast/269-profit-by-design-trading-p-109844703/

How to connect 

• Website – enjoytheride.world

What’s important to you about trading?  Comment below