January 16, 2019

Peter Brandt: Mental Game Of Trading

Peter Brandt is a professional trader and he has been trading futures and forex for 42 years.

Video duration: 7m11s

Peter Brandt starts with a few pertinent questions to describe what trading is really all about.

"Have you ever had five straight losing trades, ten straight losing trades?"

"Have you ever been in a situation where you wonder whether you're ever gonna win again?"

Peter Brandt considers that there are two dangerous periods in the life of the trader:

"The two most dangerous periods that can enter into the life of the trader and how they affect you in slightly different ways but important ways and the two things are severe draw downs and the second thing is a severely profitable period of time because they also can be very dangerous."

In this video Peter shares his worst drawdown experience:

"My year worst year as a trader was 2013 in which I lost 13 percent but that was part of a drawdown that lasted 15 months. For 15 months I was in the drawdown and it was agony."

Peter Brandt has written a great book. You can find it on Amazon:

Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading (2011)