#96 Tom Hougaard: Best Loser Wins

Tom Hougaard is a ‘high-stakes’ day trader, and author of a superb new book ‘Best Loser Wins: Why Normal Thinking Never Wins the Trading Game’, which focuses on the mental battle needed to succeed in trading and the challenge of getting your mind right.
Tom is someone who has faced his own battles to become a successful trader, and like many he has gone through that cycle of try, learn, fail, try again and eventually succeed.
Tom is passionate about trading, as you will hear, and also loves helping others to learn. He runs an excellent telegram channel, you can find out more about this on TraderTom.com, which has over 15,000 members.
This is a terrific interview which will educate, fascinate, and challenge you.
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[@BJAnderson]

Reading the book now. About half through. Just finished Mark Douglas' books. It's convinced me that I know enough about chart reading. From here on it's about self-control. Thanks Tom!

[@samricher]

The only book worth buying

[@Ss-21-16]

Update 👀

[@ajaeyoungking5175]

Tom is one of the Greats

[@theforeignspeculator]

I'm buying his book, I remember his impactful speech on Opto CMC speech a few years ago - great guest!

[@ahamedmusharaft738]

Excellent. I'm following Tom recently It completely changed my way of trading. Thank you TOM 🙏🏻

[@sebastianvelandia373]

I always put on some tom hougaard conference while trading, it serves me like a concious voice on my trading session.. elite mind and trader for sure

[@tohian]

Hey, I do this too! 😄 It’s almost like Tom is subliminally coaching you. And that’s a darn good thing.

[@sebastianvelandia373]

Right 😊

[@vasudevakotti2894]

Thank you for getting Mr Tom Hougaard on the podcast 🙏

[@sunilk423]

Only trader, who doesnt sell anything, which actually bring conviction, that day trading works. :)

[@REGARDSHU]

Tom is one of the great traders and I love his honesty

[@trades_lakes]

Tom is great! He could even be a comedian with his jokes if he gets tired of trading

[@samricher]

Tom has changed my trading life. The real goat

[@OG_Jin_Bling]

Tom is a good trading coach (free content too).

[@ajithkg6221]

My trading journey flipped after reading that book.. thanks TOM

[@EMan-cu5zo]

I agree with almost everything this man says. The thing you never go broke from taking a profit makes sense to a certain degree. I say never let a gain turn to a loss. I have been meaning to get this book and while listening to this I finally ordered the book. Now if I ever finish reading it is the next question. I should just buy audio books but I mostly never do. Should get both.

[@ramakanthbaldawa4391]

Thank you Tom, that was very helpful!

[@ricardomachado2473]

Excellent interview! I'll buy his book!

[@seangrant6993]

Great podcast!

[@DefineStrength]

Really good one fellas. Thank you for the content and bringing other perspectives from successful traders to our ears. Definitely getting the book. Thanks Tom as well

[@jarrell4878]

excellent video

[@banginzaza]

I like him and Steve Ruffley

[@jamaicaigot9335]

Hey there, really enjoyed the video! I would love to get these as audio only, are you on audea?

[@kierancronin8001]

D D o

[@smeshnoymatvey2054]

Starts 3:30

[@ESM77]

Not all hero’s wear capes. Thank you

[@borneotrades]

trade live, audio with Tom

[@cryptogreen3578]

The audiobook quality is not good. 👍

[@Evenbid50]

Does Tom trail stops or break even? Or never adjusts stop at all ?

[@MindsetMojoHacks]

It is a good question. Another time please ask on Tom's channel. We have no way to see your question here. Tom use to set to break even as soon as it makes sense. By setting to BE you give the market a little more room to move vs trailing down and being stopped out more often but with a profit. There is no right or wrong you need to figure out what is best for you.

[@StillTrustNo1]

You do know that you can follow his trades for free right?

[@haneyguitarinstruction6260]

Break even stops are a mental crutch. By moving to break even that means you are fearing a loss and or have not accepted that any trade could lose. I never adjust stops.

[@StillTrustNo1]

@@haneyguitarinstruction6260 Why would it mean that? It can just mean that its part of your strategy that you've tested and knows works over enough trades.

[@holdReset]

@@haneyguitarinstruction6260or you move to break even because your strategy has better results if you go break even at a certain point? You know, after getting hundreds of trades in a data set and examining the data to find this out, because you do that too, right? Your comment shows you think you know a lot but that you really are still on your journey. Best of luck in your humility and understanding.

[@Peter_Derby]

This is financial story-telling....

[@umarmodibbo7706]

Can someone share the book here.

[@sarafarkasbelane9854]

A Ruten E sA Moden Kapcsolta ki a wIFIT Most lett kesz 5000 ezerert Tgnap ugyan onnan elkulgttek hogy naluk minden rendben Most is. Onnan jott egy ember aki meg mondta mi a baj es meg csinalta,,most itt vagyok felig halottan. Nagyon ki keszulttem Es A Tom sem erdeklodott,,,En ezes szazalekos vagyok benne hogy szandekos volt,,,,

[@hybridview]

The podcast has been lead and fully delivered by Tom, hosts absolutely rubbish, didn’t moderate the conversation, gave vague, empty and absolutely improvised, very poor answers to Tom’s questions. Hosts absolutely not focusing on the quality of the podcast, no structure to what is discussed as Tom is giving the speech -essentially shorting his book over the full length of the podcast. Moreover, you can hear the hosts only when they are announcing sponsors of the podcast. Tom’s knowledge is timeless, hosts absolutely rubbish, why they even there?

[@dogribz151]

U a bit blunt but.......This is so true....iam listening to this an thinking the same thing.

[@italianmiltyfriedman6264]

Eat a snickers mate, you know how you get when your hangry

[@JamesWilliams-qn5cq]

Gr8 Worꓘ. Very Informative. Wayyy Kool. Thx a Ton for the Post.