The AlphaMind Podcast #98 Tom Basso: Market Wizard's Mr Serenity
How Schwager Found Tom
- Jack Schwager discovered Tom at a Van Tharp seminar after overhearing Tom answer questions during breaks.
- Schwager then invited Tom to be interviewed and later said it was the easiest chapter he'd written.
Adapt Principles, Don't Copy Systems
- Share trading principles but adapt them to your own skills and capital instead of copying someone else.
- Use universal rules (triggers, position sizing, mental management) and make them fit your context.
Trading As A Life-Long Puzzle
- Tom describes trading as a lifelong puzzle he never expected to fully solve.
- He decided he didn't want trading to define him and prioritized a varied life instead.
Tom Basso: Market Wizards Mr Serenity
Tom Basso first came to prominence when he was featured in Jack Schwager’s second Market Wizards book “New Market Wizards”. His chapter is called Mr Serenity. In the introduction to the interview with Tom, Jack, made a point of saying, that “although Tom’s results are significantly better than the industry average, they were ‘hardly extraordinary’. And yet, ‘Jack says, “in an important sense, Basso is perhaps the most successful, trader I have ever interviewed.” This success Jack Schwager referred to, stemmed from Tom’s ability to make money, and yet remain calm, centred and completely balanced, living the life he wanted to live, and doing the things he wanted to do, without it being dictated by the market, or his ego’s response to the market.
As you will hear in this interview, very little has changed. Tom has achieved extraordinary success, both financially, and in the way he has lived his life. And, if we are honest, trying to get both of these to happen together is an extraordinary feat.
You will enjoy this interview and will learn so much that is important to consider, when taking and managing risk, and remaining in control, in a way which allows you to ‘enjoy the ride’.
You can find out more about Tom at this website: https://enjoytheride.world/
And on Twitter: https://twitter.com/basso_tom
AlphaMind Podcast Sponsor: TradeStation Global
TradeStation Global is a multi-asset trading platform with access to international markets. Trade Stocks, Forex, Futures and Micro e-Mini Futures from one account. Leverage professional-grade tools like RadarScreen®, The Matrix, and EasyLanguage® an intuitive coding language for traders.
With TradeStation Global there are no hidden price spreads - just transparent, low commissions. Click here to find out more and open an account.
TradeStation International Ltd, authorized and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom, acts as an Introducing Broker to Interactive Brokers (U.K.) Ltd. The firm does not provide investment advice or trading recommendations. Investment and trading involve risks, including possible loss of principal.
AlphaMind Podcast Sponsor: The Society of Technical Analysts (The STA):
The Society of Technical Analysts provide world beating technical analysis education programmes and offer outstanding membership services with regular talks and meetings. Their Home Study Course is based on the Diploma Programme they deliver to students at the London School of Economics and has been created by many of the leading minds in the field of technical analysis.
Alphamind Podcast listeners can obtain a 10% discount on the Society of Technical Analysts world-beating Home Study Course at this link: bit.ly/3r3TawO
Twitter: Steve Goldstein bit.ly/3J9SNHQ Mark Randall bit.ly/3uqL9Ez
LinkedIn AlphaMind Group: bit.ly/3vwo6Hu The AlphaMind Project Ltd: bit.ly/3O
AlphaMind: Powering Performance in Global Markets
AlphaMind brings powerful change, growth and development to people and businesses within global markets.
Driven by a deep understanding of how markets work, and how people and businesses function within them, we partner with clients to create personal performance improvements that elevate returns across their trading activities.
Go to the AlphaMind website to know more.