My guest today is Colin O’Brady, an American professional endurance athlete, motivational speaker, and adventurer. He is a former professional triathlete, representing the United States on the ITU Triathlon World Cup circuit, racing in 25 countries on six continents from 2009 to 2015. Colin is a four-time world record holder. In 2016 he set the Explorers Grand Slam (Last Degree) and Seven Summits speed records, the latter of which has since been broken. He became the fastest person to complete the adventurer’s challenges in 139 days and 131 days respectively. In the summer of 2018, he set the speed record for the 50 US High Points in 21 days. On December 26, 2018, he completed a solo crossing of the land mass of Antarctica, excluding the ice shelves, using the South Pole Traverse (SPoT) vehicle road during the last 366 miles (589 km) of the journey.
The topic is his book The 12-Hour Walk: Invest One Day, Conquer Your Mind, and Unlock Your Best Life.
In this episode of Trend Following Radio we discuss:
What led Colin to begin his adventure?
An incredible experience on Mt. Everest
A horrible fire in Thailand
How did he recover from third-degree burns and ligament damage?
Winning the Chicago triathlon
Pain management strategies
How do change your life and move it in the direction of you living your best life?
Limiting self-beliefs
The volatility and fascinating experience of trading in 2008
My biggest challenge is following my entry and exit strategy. I’ll jump the gun because it’s close or I’ll get in late because I missed it. Then I’ll have a run of wins and can’t exit a loser because I think I’m right, generally it does eventually turn around but I’ve added positions the whole way down and am overleveraged to ride out before it comes back. Or I’ll take a few small losses and can’t exit eventually because I’m convinced it’s gonna go. But it has been rejected and it’s a reversal now but I ride it out to blow my account up. And then of course I have trouble riding the trend until a proper exit because after fucking around so much on some entries or I’m past my goals or I’m overleveraged for a scalp, I figure I’ve been right so many times, why not this one too, I get out too small or it bounces right there and I ride out a huge drawdown to a major loss.
The biggest challenge I have in trading is establishing and sticking to a successful process. While on active duty in the US Navy I took night classes trying to understand markets stocks valuation and such. I believe I have a usable level of knowledge but I have doubted myself and spent countless hours and dollars trying to follow professionals. Sitting here now, at 64 years of age, it has finally dawned on me that investing in stocks is a long journey, not a jump in and out every time a new guru comes out with the super secretive process.
Without question I always struggle with how and where to set appropriate stop/loss levels for my trades. Without wasting too much of your time, any quick tips/suggestions you are willing to share would be greatly appreciated!
Thanks!
Rich L.
You need a full system:
• Exact rules for selecting your tracking portfolio.
• Exact rules for entering your trades at the right time.
• Exact rules for exiting your trades with a loss.
• Exact rules for exiting your trades with a profit.
• Exact rules for how much money to bet on each trade.
My guest today is Peter Borish, the chairman and CEO of Computer Trading Corporation (CTC). He is also a partner in Adam Hoffman’s natural gas options trading team at Torsion Technologies, and an advisor to Norbury Partners. Previously, through CTC, Borish was the chief strategist of Quad Group and its affiliated companies. In addition, he helped traders develop a methodology to enhance their performance by serving as a trading coach. He formerly worked at the Federal Reserve Bank of New York, was a founding partner and second-in-command at Tudor Investment Corporation, was chairman of OneChicago, LLC, and was chairman of the non-profits Foundation for the Study of Cycles and The Institute for Financial Markets.
The topic is forex.
In this episode of Trend Following Radio we discuss:
Post the great recession; how has inflation changed the economy?
Debt
Leverage
The trading perspective
The current state of our monetary and fiscal policies