48 Years of Trading Lessons with Market Wizard Peter Brandt
Access the presentations of all 24 experts from the 2023 TraderLion Conference. Learn from top traders, hedge fund managers, trading psychologists, and more - traderlion.com/YT_TLC23
Peter Brandt is a world-renowned futures & forex trader for over 50 years. Since 1981 he's been able to return on average 40% each year! This success has earned Peter a spot in Jack Schwager's book "Unknown Market Wizards: The best traders you've never heard of".
In his presentation with Richard Moglen, he discusses the importance of risk management in trading. He emphasizes the need to cut losses short and let winners run, and he argues that these two principles are essential for long-term success.
Brandt also discusses the 80/20 rule, or the Pareto principle, which states that 80% of the results come from 20% of the causes. In trading, this means that 80% of your profits will come from 20% of your trades. This is why it is so important to focus on the quality of your trades, rather than the quantity.
Brandt also discusses some of the common metrics used to measure trading performance, such as win rate, profit factor, and sharp ratio. He argues that these metrics are not always helpful, and that traders should focus on the metrics that matter most, such as worst loss, profit factor, and gain to pain ratio.
Finally, Brandt discusses the importance of trading psychology. He argues that traders need to be disciplined and patient in order to be successful. They also need to be able to control their emotions, and to avoid making emotional trades.
You can follow Peter on Twitter/X: / peterlbrandt
Enjoy!
- The TraderLion Team
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Timestamps:
00:00 - Intro
02:28 - Peter's History
08:20 - Account Drawdowns
09:40 - Foundational Aspects of Trading Plan
11:50 - Chart Patterns Peter Trades
13:26 - Rule Based Entry & Exit Tactics
15:07 - The Truth About Charting
17:14 - Aspects of Successful Market Speculation
19:30 - Managing Expectations
22:10 - Managing Emotions
24:20 - Trade & Risk Management
27:00 - What Really Makes Successful Traders
29:34 - Pareto Principle
34:28 - Trading Metrics That Matter
#PeterBrandt #TradingLegends #StockMarket
Пікірлер: 53
Access the presentations of all 24 experts from the 2023 TraderLion Conference. Learn from top traders, hedge fund managers, trading psychologists, and more - traderlion.com/YT_TLC23
One of my absolute favorite presentations from the conference. Raw truths!
i watched that several times. its a bit like therapy for me. Peters humble approach to trading and his relentless focus on risk management has always been like a guide for me.
20:00 Reality 22:00 Emotions 27:00 Win rate 30:00 Pareto principle
@sam56094
9 ай бұрын
Nice bro
Peter is full of wisdom. I'm lucky to have met him in person. Thanks for releasing this quality content.
Special thanks to Peter and Richard, a great video. Appreciate both of you.
@TraderLion
10 ай бұрын
Our pleasure!
This channel is so underrated keep grinding champ 💪
@TraderLion
7 ай бұрын
Thank you! 🙌🏼
Love this guy!
Thank you!
Thanks for your insights about risk management and things about to look for to last long term.
Fascinating!
Peter, this has been an outstanding video, thank you for your time doing this video.
@TraderLion
10 ай бұрын
We're very happy Peter agreed to present this year!
Exceptional! This provided the most helpful content for an aspiring new-ish trader! Each section was essential to develop the message/advice. I’ll go back to listen to them again.
@TraderLion
10 ай бұрын
Great to hear that
@graerindley6312
10 ай бұрын
i agree, and I imagine its importance will escape most novice traders 😀
❤ thanks for giving us such valuable lessons ❤
@TraderLion
10 ай бұрын
Our pleasure!
Peter is a very impressive presenter and trader
So much values, thanks alot.
@TraderLion
10 ай бұрын
Glad it was helpful!
This is crazy.. you have interviewed with all the legendary traders! Amazing....
@TraderLion
9 ай бұрын
Thanks! Always a learning experience
one surprising yet strong defense for discretionary or impulse trading is "avoid trading during open markets". that's a very difficult one to implement but really help get your A game when it comes to discipline vis a vis your trading strategy.
Mature sensible advice. Including importance of risk mgt, etc..... 😀
@TraderLion
10 ай бұрын
Agreed, Peter was great!
Fantastic.
@TraderLion
10 ай бұрын
Glad you think so!
Amazing video!!
@TraderLion
2 ай бұрын
Thanks for watching!
Just the facts from a legend
@TraderLion
10 ай бұрын
I love that Peter cuts through the BS to gets straight to what's important!
I really appreciate the interview and wisdom. I'm a newbie so a basic question. How do you set up a -1% stop-loss? I'd imagine natural fluctuations during trade hours would easily touch the number. Is it right to assume that Peter is comfortable with the broker selling off the stock just seconds after his buy in? Is this the case that he is talking about when he mentions setting up stop-loss at 1%?
Basically, that's almost how I trade and focus on, trend, reversal pattern, volume. I don't like indicator, but I use it when I want to get a decent entry price. That is, when I spot a nice pattern that I want to get in, I use indiactor to help me with that only
@TraderLion
Ай бұрын
Nice! Too many traders trade with too many indicators. Keep it simple & repeatable 👍🏼
@robertlu5117
Ай бұрын
@@TraderLion keep it simply and you need to trade differently than anybody elese. that is main key.
You are a great host Richard. Just let the guest speak uninterrupted. I’ve seen other channels that are able to secure some great guests but they just ruin it.
@TraderLion
10 ай бұрын
Thank you Stephen!
Thanks for the video ! In the metrics , what does Peter mean with ratio win size to loss? How is that calculated ?
Can someone plz explain how the ratio win seize to loss is calculated ..? Thanks
please have one more session with the veteran....
Thank you for this I went 4 days with a headache trying to find how I can improve my win rate since I wasn’t profitable at 30% with a 1:2, and now I think I have an idea my win rate shouldn’t matter , but more so managing my losses, the thing is I don’t like to micromanage, I don’t do good with it. Any advice ?
@TraderLion
9 ай бұрын
Focus on proper entries and keeping your stops tight and logical in high potential stocks/opportunities
@sam56094
9 ай бұрын
@@TraderLion thank you ! I appreciate your feedback plenty !
at 22:25, peter said he usually trades after market closes. How does this work for eminis that trade almost 24 hours? Newbie here
Does the 40% plus annual return non-leveraged?
@TraderLion
10 ай бұрын
That's a good question, but we didn't discuss it here.
@graerindley6312
10 ай бұрын
I had another listen and Peter does say at one point that he holds multiple leveraged positions simultaneously in risk-opposed positions (in order to minimize the risk in the leveraged positions) @@TraderLion 😀
12:00