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

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Apr 4, 2024

Legendary trader Tom Basso discusses the importance of developing a personalized trading strategy, tailored to individual risk tolerance and time availability. He shares insights on all-weather trading, self-assessment, and the value of understanding oneself to make informed decisions. Tom emphasizes the need for adaptive indicators, dynamic position sizing, and staying present in executing trades like a sniper.

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Introduction

00:00 • 4min

Crafting Personalized Trading Strategies

03:52 • 31min

Exploring Correlation in Stock and Futures Markets for Diversification

34:37 • 2min

Strategies for Sideways Markets and Risk Management

37:00 • 22min

Creating Adaptive Trading Strategies

59:01 • 8min

Choosing the Right Programming Language for Trading Systems and Managing Mental Aspects of Trading

01:07:04 • 3min

Living in the Present: Trading Like a Sniper

01:10:07 • 6min

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📈 TraderLion Masterclass Courses: https://go.traderlion.com/uinsGIn 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: https://twitter.com/basso_tomTom's New Book: https://amzn.to/3Botpw4Enjoy the Ride Research: https://enjoytheride.world/Enjoy!- The TraderLion TeamTimestamps:00:00 - Tom Basso - The All Weather Trader04:58 - Why Copying Other Traders Doesn't Work09:31 - How You Should Approach Trading11:50 - Create a Personal Inventory of Yourself14:48 - Tom's Objectives & Personal Inventory18:34 - How to Develop Your own Complete Trading Strategy23:01 - What an All-Weather Trader Must Do24:28 - Attacking Risk Vs Avoiding Risk28:04 - Timing Indicators Tom Uses33:05 - Extreme Diversification & Stock Correlation37:18 - Sideways Market41:47 - Adding New Strategies45:02 - Rebalancing Positions & Strategies47:32 - Mental Side of Trading49:00 - Never Trust Social Media Predictions50:37 - A Personal All-Weather Plan52:10 - Filling Your Strategy Potholes55:10 - Limiting Drawdown by Sizing Hedges Correctly56:24 - Independent vs Dependent Strategies58:34 - Balancing Discretionary vs Systematic Trading1:00:07 - Increasing Robustness in your System1:02:39 - How Strategies Change Over Time1:06:32 - Automated Trading Advice1:09:22 - Secrets to Mastering the Mental Side1:12:50 - Advice for New Traders