My guest today is Toby Crabel, a tennis player who is now a commodities trader. In 2005, the Financial Times called Crabel “the most well-known trader on the counter-trend side”.
The topic is commodity trading.
In this episode of Trend Following Radio we discuss:
- Crabel’s history as a pro tennis player
- Longevity and consistency in tennis and trading
- Where Crabel stands with the total number of systems he employs
- The source of Crabel’s profits and the philosophy behind it
- Price action
- Winning and losing volatility
- Why Crabel needs price movement and volume
- The idea of price shocks and the importance of being aware of them
- The process of moving from high drawdowns to a much lower drawdown
- The importance of diversity
- Early lightbulb moments that informed Crabel’s trading style
- Crabel’s experience with Victor Niederhoffer
- How the philosophy of Objectivism has informed Crabel’s life
- The liquidity of futures markets
- The importance of persistence
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