The Trading Mistake 99% of People Make (Tom Basso's Secret Profitable Trading System)

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
In this video, legendary trader Tom Basso challenges the conventional wisdom of blindly copying other traders. With almost 50 years of experience, featured in Market Wizards, and known for his calm, methodical approach, Tom shares why developing a personalized strategy perfectly aligned with your profile is the key to long-term trading success.
In this video, you will discover:
• Why you are unique: Understand the critical factors that shape your individual strengths and weaknesses as a trader.
• Tailored strategies: Learn how to craft a trading strategy that fits your unique risk tolerance, time availability, and capital.
• All-weather trading: Explore Tom's methods for navigating bull, bear, and sideways markets to minimize risk and maximize returns.
• The importance of self-assessment: Tom emphasizes the value of understanding yourself to make informed trading decisions.
About Tom Basso:
Tom Basso is a seasoned trader with almost 50 years of experience. He's known for his calm demeanor and consistent profitability. Tom's insights have been featured in Market Wizards, Trend Following Mindset, and his latest book, The All-Weather Trader.
Don't miss this opportunity to learn from one of the industry's most respected minds!
Follow Tom Basso on Twitter/X: / basso_tom
Tom's New Book: amzn.to/3Botpw4
Enjoy the Ride Research: enjoytheride.world/
Enjoy!
- The TraderLion Team
Timestamps:
00:00 - Tom Basso - The All Weather Trader
04:58 - Why Copying Other Traders Doesn't Work
09:31 - How You Should Approach Trading
11:50 - Create a Personal Inventory of Yourself
14:48 - Tom's Objectives & Personal Inventory
18:34 - How to Develop Your own Complete Trading Strategy
23:01 - What an All-Weather Trader Must Do
24:28 - Attacking Risk Vs Avoiding Risk
28:04 - Timing Indicators Tom Uses
33:05 - Extreme Diversification & Stock Correlation
37:18 - Sideways Market
41:47 - Adding New Strategies
45:02 - Rebalancing Positions & Strategies
47:32 - Mental Side of Trading
49:00 - Never Trust Social Media Predictions
50:37 - A Personal All-Weather Plan
52:10 - Filling Your Strategy Potholes
55:10 - Limiting Drawdown by Sizing Hedges Correctly
56:24 - Independent vs Dependent Strategies
58:34 - Balancing Discretionary vs Systematic Trading
1:00:07 - Increasing Robustness in your System
1:02:39 - How Strategies Change Over Time
1:06:32 - Automated Trading Advice
1:09:22 - Secrets to Mastering the Mental Side
1:12:50 - Advice for New Traders
#tradingsystem #profitabletrading #tradingstrategies

[@TraderLion]

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

[@alphabeta8403]

10:00 Develop your own unique trading strategy 19:00 Buy/Sell Engines 24:00 Attacking vs avoiding risk 38:00 Credit spreads during sideways markets 46:30 Rebalancing between strategies; mental side of trading 1:09:00 Quit predicting 1:13:00 Enjoying the ride

[@TraderLion]

Thank you!

[@TraderLion]

Follow Tom Basso on Twitter/X: twitter.com/basso_tom Tom's New Book: amzn.to/3Botpw4 Enjoy the Ride Research: enjoytheride.world/ 🕰 Timestamps 🕰 00:00 - Tom Basso - The All Weather Trader 04:58 - Why Copying Other Traders Doesn't Work 09:31 - How You Should Approach Trading 11:50 - Create a Personal Inventory of Yourself 14:48 - Tom's Objectives & Personal Inventory 18:34 - How to Develop Your own Complete Trading Strategy 23:01 - What an All-Weather Trader Must Do 24:28 - Attacking Risk Vs Avoiding Risk 28:04 - Timing Indicators Tom Uses 33:05 - Extreme Diversification & Stock Correlation 37:18 - Sideways Market 41:47 - Adding New Strategies 45:02 - Rebalancing Positions & Strategies 47:32 - Mental Side of Trading 49:00 - Never Trust Social Media Predictions 50:37 - A Personal All-Weather Plan 52:10 - Filling Your Strategy Potholes 55:10 - Limiting Drawdown by Sizing Hedges Correctly 56:24 - Independent vs Dependent Strategies 58:34 - Balancing Discretionary vs Systematic Trading 1:00:07 - Increasing Robustness in your System 1:02:39 - How Strategies Change Over Time 1:06:32 - Automated Trading Advice 1:09:22 - Secrets to Mastering the Mental Side 1:12:50 - Advice for New Traders

[@AnnaPoli800]

I wish all KZbin videos were like this. So easy to watch and straight to the point.

[@codfellaz]

34:00 Good Introduction to Diversification of Portfolios!

[@method341]

I always like his interview in New Market Wizards and good to see he's still around.

[@TraderLion]

He’s great!

[@mehdikhosh8879]

Great information and a great interview, Thank you so much, Mr. Basso and Richard.

[@TraderLion]

Thanks for watching!

[@protomatala180]

10 percent a year is only good for guys with 6-7 digit accounts

[@TraderLion]

yes very good!

[@DustinHallen]

Those with larger accounts and in retirement tend to use longer timeframes which yield smaller returns. You can use the same strategy on shorter timeframes to increase returns.

[@paulwu1301]

Tom is incredible and truly treated trading like a business, this is what trading is supposed to be.

[@TraderLion]

Yes 100%

[@Tman2.0]

Great content, Thanks to both of you guys !

[@TraderLion]

Thanks!

[@hdnotlost7314]

Thanks Tom and Richard for the interview.😊

[@TraderLion]

Thanks for watching!

[@chrisconti7916]

Wow, great video! Thank you.

[@TraderLion]

Thanks!!

[@rossljensen]

love the content, keep it up

[@TraderLion]

Thanks!

[@JB-mw7zt]

Tom perfectly outlined the benefits of futures❤ I love all of his information. Thank you so much Watching a second time

[@TraderLion]

We're glad you enjoyed it! Tom did a great job!

[@timothyjohnson1511]

We should be concerned with the craft built by Lockheed and other military contractors, who refuse to disclose technology that would eliminate the need to burn "fossil fuel" for energy.

[@tradex_megafund]

Hi Richard, you are doing a wonderful job here. Please is there a video on how the successful traders develop Discipline to follow their plan through good and bad period. I want to know, How they develop discipline to follow their plan. Please help

[@chrisnickles9498]

It’s mental. I read a few trading psychology books and that helped quite a bit. Be objective and let your rules guide your plan, instead of your emotions.

[@ssunkite1]

Never underestimate the magic of compounding. It's a mathematical force of nature.

[@TraderLion]

100%!

[@trebailey4195]

Great interview

[@TraderLion]

Thank you! 💙

[@kingjimmy442]

Richard…Do you trade in Futures or Cash.🛡️

[@TraderLion]

Cash

[@kingjimmy442]

Thank you….This was a much needed answer for me 👍

[@kingjimmy442]

Does Deep vue work in Indian markets

[@jamanstock]

🥰🥰🥰🥰🥰🥰🥰🥰🥰🥰🥰

[@TraderLion]

❤️

[@skunkape5918]

❤✝️🕊

[@TraderLion]

❤️

[@jasonren304]

This guy is a joke lol! 10% a year and he call himself a trader? Just buy the index

[@tradeswithjohnnie]

You should do the math bro

[@paulwu1301]

That's the objective and that's his objective, he is not saying that should be anyone else's objective, it is definitely not my objective but yet I am learning a lot from him.

[@TraderLion]

Yup!