REWIND: Building a 20 Year Constant Profit Streak with Larry Benedict

In this Limit Up Rewind, Larry Benedict, trader and founder of OpportunisticTrader.com, shares the keys to building his trading fortune, some of which defy conventional wisdom. 

Larry is someone that by all measures probably should not have made it as a successful trader. Yet after repeatedly failing, he stuck with his passion for trading and, critically, learned from each setback. In this episode hear Larry talk about:

[03:49] How he got started on the floor of the CBOE[07:32] What made him think he could be a good trader[10:46] Why discipline and management are critical to success[12:43] What advice would he give to himself as a young trader[15:42] How he developed his “2% Rule”[20:32] The value of ‘collecting base hits’ versus ‘swinging for the fence’ in trading[22:50] How to know when you have a market that matches your trading style[26:00] The danger of having a gambler's mentality[31:09] Creating OpportunisticTrader.com[40:04] His best piece of advice for someone getting started in electronic trading[41:57] The scariest trade he ever made 

 

Follow @opptrader1 to learn more OpportunisticTrader.com, where Larry and other prominent traders share real-time trade ideas and insights.

Limit Up! is a podcast for traders of all levels brought to you by Topstep. Whether you’re considering a career in trading and don’t know where to start, or you’re a seasoned veteran looking for advice from big names in the financial industry, Limit Up! is your guide. Join us weekly as we discuss the market in all of its volatile glory. Risk Disclosure: https://www.topstep.com/risk-disclosure/

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Podcast episode production by Dante32.