Guest:
Erik Townsend
Hedge Fund Manager & Macro Voices Podcast Host
Record Date: 1/8/19
httpss://www.youtube.com/watch?v=78uqJKAGAYE&feature=youtu.be
Listen on —> iTunes
Listen on —> SoundCloud
Topics:
- Becoming a Macro Trader
- Developing a Trading Process & Strategy
- Trade Execution & Position Sizing
- Comparing a Current Macro Scenario to the Past
- Blockchain & Crypto
Rapid Fire:
Q. What Trader has influenced your life the most and why?
A. Jim Rogers
Q. What was one of the hardest things for you to overcome in Trading?
A. Excessive loyalty to my beliefs.
Q. How has your trading process evolved over the years?
A. Adjusting my process around the time frame of what’s tradeable in the market vs. the time frame of my long-term predictions.
Q. What is one attribute that you believe every trader should have?
A. Discipline and willingness to be proven wrong.
Q. Favorite Book About Trading?
A. Market Wizards Series by Jack Schwager
Q. Favorite Movie About Trading?
A. Trading Places
Q. What’s the best advice you’ve received about Trading?
A. Loyalty to people is good. Loyalty to positions is bad.
Q. If you can give a piece of advice to the younger you, what would it be?
A. Back off on conviction. You’re going to be right in the long term, but you’ve got to allow the market to be wrong in the intermediate term and don’t fight the trend.
Q. If you had to elevator pitch your edge in trading, what would it be?
A. Ability to understand big systems and complex subjects.
Q. Favorite thing to do when not trading?
A. Scuba Diving
Erik Townsend’s Resources:
If you enjoyed this interview with Erik & the topics discussed — be sure to listen to these other episodes with
Jesse Felder, Michael Lebowitz & Lance Roberts
Macroeconomics – Jesse Felder & Michael Lebowitz
The Market Leads the Economy — Lance Roberts
