48 Years of Trading Lessons with Market Wizard Peter Brandt

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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

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