Market Wizard & Money Manager Thomas Basso on Building a Winning Trading System

In this episode, we speak with legendary trader Thomas Basso, featured in The New Market Wizards and former head of Trendstat Capital. Tom shares his insights on building trading systems that match your personality, managing emotions, and creating a stress-free trading approach. With decades of experience, he offers practical wisdom for traders seeking consistency and enjoyment in the process. A must-listen for anyone serious about long-term trading success.   Connect with Tom Basso His website: http://enjoytheride.world Twitter: https://x.com/basso_tom   ##### This episode is brought to you by Edgewonk, the online trading journal that we built.  Edgewonk is the trading journal that turns your data into profits. It reveals the hidden patterns that consistently make you money while eliminating the losing trades that drain your account. Pioneering the industry since 2015, import your trades now and you’re only minutes away from taking control of your trading. visit Edgewonk: https://edgewonk.com/    Risk disclaimer: https://edgewonk.com/risk-disclaimer  

Most traders are told to stay calm, suppress emotion, and stick to the plan—but what if that’s exactly what’s holding them back? In this episode, we sit down with Denise Shull, performance coach to top hedge fund managers, pro athletes, and the author of Market Mind Games. Denise breaks down why avoiding or ignoring your emotions leads to hesitation, slumps, and missed opportunities—and how understanding your emotional signals can actually become your biggest edge. We dive into the psychology of decision-making, the physical signs of confidence, and why your beliefs shape your perception of the market more than you think. If you've ever second-guessed yourself mid-trade or struggled to trust your process, this conversation is packed with insights you won’t want to miss.   ►Connect with Denise Twitter: https://x.com/DeniseKShull Online course: https://therethinkgroup.net/intro-to-the-trader-brain/  Book on amazon: https://www.amazon.com/dp/0071756221   ##### This episode is brought to you by Edgewonk, the online trading journal that we built.  Edgewonk is the trading journal that turns your data into profits. It reveals the hidden patterns that consistently make you money while eliminating the losing trades that drain your account. Pioneering the industry since 2015, import your trades now and you’re only minutes away from taking control of your trading. visit Edgewonk: https://edgewonk.com/    Risk disclaimer: https://edgewonk.com/risk-disclaimer  

Jared Tendler is a leading mental game coach who has worked with world-class performers across industries — including professional traders, poker players, and esports athletes. With a master’s degree in counseling psychology and over 20 years of experience, Jared helps high performers identify and correct mental leaks, build emotional resilience, and achieve peak consistency under pressure. He’s the author of The Mental Game of Trading and The Mental Game of Poker, widely regarded as essential guides for mastering mindset in performance-driven environments.   Connect with Jared  Twitter: https://x.com/jaredtendler Website: https://jaredtendler.com/ Get his book: https://jaredtendler.com/books/the-mental-game-of-trading/   ##### This episode is brought to you by Edgewonk, the online trading journal that we built.  Edgewonk is the trading journal that turns your data into profits. It reveals the hidden patterns that consistently make you money while eliminating the losing trades that drain your account. Pioneering the industry since 2015, import your trades now and you’re only minutes away from taking control of your trading. visit Edgewonk: https://edgewonk.com/    Risk disclaimer: https://edgewonk.com/risk-disclaimer  

In this podcast episode, we talked to trader and educator Akil Stokes who shares his journey, trading philosophy, and advice for traders at all levels. He emphasizes price action trading, using structure and patterns. Akil discusses his shift from strict mechanical trading to a more discretionary price action approach, highlighting the importance of aligning a strategy with a trader’s personality. He also stresses the value of data-driven decision-making, backtesting, and maintaining a trading journal. The conversation covers scaling up capital, transitioning from day trading to swing trading, and why traders often exit profitable trades too early. Akil also talks about the importance of discipline, curiosity, and adapting to market changes. For those balancing trading with a full-time job, he advises scheduling trading time wisely and focusing on higher timeframes if necessary. Lastly, he shares insights on prop firms, risk management, and the importance of patience in trading success.   ► Connect with Akil: Twitter: https://x.com/AkilStokesRTM Website & more: https://tieronetrading.com/akil/   ################ Edgewonk trading journal: ► https://www.edgewonk.com  *** use discount code: tradeciety ***   ################ Disclaimer: The experience reports and comments constitute the personal experiences of our users. These are individual results that do not permit conclusions to be drawn about future developments. In particular, we make no claim that these are typical results that can be achieved by our users on a regular basis. Tradeciety can neither predict nor guarantee the occurrence of certain developments or the achievement of profits, nor will it do so. Results may not be typical and may vary from person to person. There are inherent risks involved with investing and trading, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk.  

We had the pleasure of talking to Mandi R. last week. She is a trading performance and mindset coach. In this episode we talk about trauma, dealing with losses, and we go very personal with her.    ► Connect with Mandi: Twitter: https://x.com/MPX_Trader Website: High Performance Trading   ################ Edgewonk trading journal: ► https://www.edgewonk.com  *** use discount code: tradeciety ***   ################ Disclaimer: The experience reports and comments constitute the personal experiences of our users. These are individual results that do not permit conclusions to be drawn about future developments. In particular, we make no claim that these are typical results that can be achieved by our users on a regular basis. Tradeciety can neither predict nor guarantee the occurrence of certain developments or the achievement of profits, nor will it do so. Results may not be typical and may vary from person to person. There are inherent risks involved with investing and trading, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk.  

Why the best traders make 'only' 30% annually, the importance of risk management, and the challenges of sustaining long-term success. Learn why consistency, emotional resilience, and understanding market conditions matter more than flashy returns. Perfect for traders looking to build sustainable and disciplined strategies.   ############### Join my trading program: ► TradeCademy - Tradeciety Trading Course   ################ Edgewonk trading journal: ► https://www.edgewonk.com  *** use discount code: tradeciety ***   ################ ► Risk Disclaimer: https://www.tradeciety.com/risk-disclaimer/  Disclaimer: The experience reports and comments constitute the personal experiences of our users. These are individual results that do not permit conclusions to be drawn about future developments. In particular, we make no claim that these are typical results that can be achieved by our users on a regular basis. Tradeciety can neither predict nor guarantee the occurrence of certain developments or the achievement of profits, nor will it do so. Results may not be typical and may vary from person to person. There are inherent risks involved with investing and trading, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk.

We had the pleasure of sitting together with Yvan Byeajee, known as Trading Composure on social media, and talk about all things trading psychology, habits, consistency, and accountability. We had a lot of fun picking his brain and diving deep into these important trading topics.    Want to connect with Yvan? Here are his channels and trading materials: Trading Composure book: https://amzn.to/4j1F9cw Twitter: https://x.com/TradingComposur Youtube: https://www.youtube.com/tradingcomposure Instagram: https://instagram.com/tradingcomposure Facebook: https://www.facebook.com/tradingcomposure/ Website: www.tradingcomposure.com   ################ Edgewonk trading journal: ► https://www.edgewonk.com  *** use discount code: tradeciety ***   ################ Disclaimer: The experience reports and comments constitute the personal experiences of our users. These are individual results that do not permit conclusions to be drawn about future developments. In particular, we make no claim that these are typical results that can be achieved by our users on a regular basis. Tradeciety can neither predict nor guarantee the occurrence of certain developments or the achievement of profits, nor will it do so. Results may not be typical and may vary from person to person. There are inherent risks involved with investing and trading, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk.

Copy and paste the end-oy-year review template below and use it in your own review process:   Step-by-Step End-of-Year Review for Traders Performance Review Metrics to Assess: 5 – 10 largest winners and largest losers. Most and least profitable confluence factor. Identify periods of strong performance and underperformance. Maximum drawdown and recovery time. Consistency: % of following trading plan. Strategy Review: Which strategies worked well? Which underperformed? Evaluate trades that deviated from your plan. Impact and reasons for missing trades. Psychological Performance: Reflect on emotional challenges (e.g., fear, greed, overtrading). Identify patterns that impacted decision-making. Identify the 3 biggest performance killers. Note emotional triggers and psychological tendencies. Document Key Takeaways: Best trades: What worked well and why? Worst trades: What lessons can you learn? Missed trades: Why did you avoid them? Opportunities: What do you want to improve next year?   Risk Management Audit Assess Risk Rules: Review position sizing, stop-loss placement, and overall risk exposure. Update Your Risk Management Plan: Adjust risk tolerance based on results and future goals. Audit your reward/risk ratio vs. the impact of trade management. Review Your Drawdowns: Identify causes of large drawdowns. Find your largest negative outlier. Create steps to minimize them next year.   Update Your Trading Business Plan Reflect on how well you are set up in the first place. Do you find yourself wondering during your trading and unsure what to do in specific situations? Do you feel you have a lot of inconsistencies and noise in your trading? A good trading business plan will plug those wholes and provide guidance in your trading. Your business plan should include: All trading rules. Timeframes and assets you are following. Risk management principles. Trade management and drawdown rules. Guidelines for dealing with news events and adjustments.   Review Lifestyle and Health Trading performance is tied to mental and physical health: Reflect on your work-life balance. Prioritize sleep, exercise, and mental well-being. Plan time off or breaks to recharge and avoid burnout.   Goal Setting for Next Year Behavioral Goals: Focus on consistency, risk management, or reducing emotional mistakes. Example: “I will not risk more than 2% per trade.”, “I will stop managing my trades.”,  or “I will walk away from my screen after two losses in a row.” Skill Development: Identify areas for improvement (e.g., technical analysis, trading psychology, backtesting, journaling, etc.). Commit to educational activities like courses, books, or coaching. Process-Oriented Goals: Focus on actions you can control: Preparing your charts daily. Sticking to your trading plan. Journaling daily trades. Following your risk management rules. Celebrate and Reflect Celebrate progress and achievements: Acknowledge lessons learned, growth, and resilience. Maintain a positive outlook: Focus on the process rather than short-term results.   ################ ► Risk Disclaimer: https://www.tradeciety.com/risk-disclaimer/  Disclaimer: The experience reports and comments constitute the personal experiences of our users. These are individual results that do not permit conclusions to be drawn about future developments. In particular, we make no claim that these are typical results that can be achieved by our users on a regular basis. Tradeciety can neither predict nor guarantee the occurrence of certain developments or the achievement of profits, nor will it do so. Results may not be typical and may vary from person to person. There are inherent risks involved with investing and trading, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk.  

Uncover the essentials of trading system design in this episode of Traders Improved. Learn how to balance win rates with reward-to-risk ratios, tailor your system to your strengths, and build a foundation for long-term success. Perfect for traders looking to create a personalized, effective, and sustainable trading approach!   ################ My newest trading program is now open for enrollment. The Tradecademy includes a brand new trading course with over 80 videos., a private community, direct mentoring from me (Rolf), live webinars and other perks: ► https://tradeciety.com/academy   ################ Edgewonk trading journal: ► https://www.edgewonk.com  *** use discount code: tradeciety ***   ################ ► Risk Disclaimer: https://www.tradeciety.com/risk-disclaimer/  Disclaimer: The experience reports and comments constitute the personal experiences of our users. These are individual results that do not permit conclusions to be drawn about future developments. In particular, we make no claim that these are typical results that can be achieved by our users on a regular basis. Tradeciety can neither predict nor guarantee the occurrence of certain developments or the achievement of profits, nor will it do so. Results may not be typical and may vary from person to person. There are inherent risks involved with investing and trading, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk.

Struggling with hesitation and emotional trading? In this episode, I reveal how uncertainty undermines confidence and how data-driven practices like backtesting and journaling can transform your trading. Discover why knowing your numbers (and which ones) is the key to trusting your edge and executing with consistency and control.   ################ My newest trading program is now open for enrollment. The Tradecademy includes a brand new trading course with over 80 videos., a private community, direct mentoring from me (Rolf), live webinars and other perks: ► https://tradeciety.com/academy   ################ Edgewonk trading journal: ► https://www.edgewonk.com  *** use discount code: tradeciety ***   ################ ► Risk Disclaimer: https://www.tradeciety.com/risk-disclaimer/  Disclaimer: The experience reports and comments constitute the personal experiences of our users. These are individual results that do not permit conclusions to be drawn about future developments. In particular, we make no claim that these are typical results that can be achieved by our users on a regular basis. Tradeciety can neither predict nor guarantee the occurrence of certain developments or the achievement of profits, nor will it do so. Results may not be typical and may vary from person to person. There are inherent risks involved with investing and trading, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk.