Strong Source Episode 17 with Ed Turner
Oct 24, 2024
In this conversation, Ed Turner, a seasoned commodity trader and entrepreneur, delves into his dynamic career in energy and oil markets. He shares insights on the psychological aspects of trading, comparing it to poker and emphasizing the importance of strategy and risk management. Ed discusses the stark differences between large banking firms and smaller trading environments, detailing his transition to more strategic trading. He also highlights the vital role of mental fitness and routines while managing losses, offering valuable lessons for aspiring traders.
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Career Pivot From Bank To Intense Prop Desk
- Ed moved from Mitsubishi UFJ to Mandara after a bank wind-down and a brutal but ideal training environment.
- He described Mandara as intense, small-team, high-responsibility and formative for his career development.
Hiring Stress Test That Spot-Checks Composure
- Ed described Mandara's brutal interview that tested speed, stress and psychology with heart monitors and music.
- He accepted a 75% pay cut because the cultural fit and training promised accelerated learning and responsibility.
Edges Evolve As Markets Mature
- As competitors enter, structural inefficiencies erode and firms must redefine edges to survive.
- Mandara's enduring edge became disciplined risk management plus creative 'edge creation' strategies.
