<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=174932623114557&amp;ev=PageView&amp;noscript=1">

Interview with Trading Legend Larry Benedict: How I Built 20 Years of Consistent Profits

Posted by TopstepTrader on August 07, 2018

If you saw Larry Benedict's trading early in his career, you wouldn't expect him to be successful. He couldn't stop losing money. In Hedge Fund Market Wizards, Jack Schwager titled his chapter "Beyond Three Strikes."

But there's a reason that Schwager put Benedict in Chapter 3, right after Ray Dalio — who runs Bridgewater Associates, the largest hedge fund in the world. It's because Benedict has a track record that rivals them all: 20 years of gains. Perhaps more impressive, during the run from 2004 to 2012, his fund returned 11.5% per year net of fees with just a 5% maximum drawdown. (Don't forget what happened in 2008 and 2009 to markets!) 

Topstep's Eddie Horn caught up with Larry in this episode of Limit Up! to talk about his trading, how he's become so successful, what he's learned along the way, and why he launched The Opportunistic Trader as a way to bring hedge fund-like knowledge to retail futures traders. 

Read More

Topics: Trading Basics, Market Wizards, Limit Up!, Futures, Larry Benedict, Jack Schwager

Why Do Successful Traders Have Early Failures?

Posted by TopstepTrader on July 16, 2018

What do futures traders Larry Benedict, Linda Bradford Raschke, and Marty Schwartz have in common? Each of them suffered losses that would have sent most traders packing, but ended up being some of the most successful traders in recent memory.

When it comes to the markets, it seems the road to success with paved with big mistakes — especially at the start. Here are a few of our guesses as to why.

Read More

Topics: Trading Basics, Trading Lessons, Market Wizards, Futures, Linda Bradford Raschke, Larry Benedict

Repeated Failures Made This Trader a Success

Posted by TopstepTrader on February 07, 2018

Does this sound like a recipe for success? 

Get fired from your first job as a clerk at the Chicago Board of Exchange. Get a job as a trader and blow through your stake. Get a second chance and blow through that money, too. Get funded by a friend, but blow through so much of that money they cut you off before you can lose it all.

Probably not, but that’s the early path Larry Benedict took before becoming founder and CEO of Banyan Equity Management, LLC, a firm that managed more than $700 million in assets. Despite his less than promising start, Benedict ultimately strung together an impressive 20 years of net profitability as an options specialist in the XMI index on the American stock exchange for Spear, Leeds, & Kellogg.

You might think the moral of this story is about perseverance, but it’s not. The crux of Benedict’s success was his ability to adapt and learn how to manage risk. In days when market volatility spiked and prices are jumping everywhere, the ability to manage risk is what will keep you in the game. 

Read More

Topics: Trading Basics, Trading Lessons, Market Wizards, Forex, Futures, Larry Benedict

Follow Us:

Subscribe to Email Updates

Recent Posts

Popular

Posts by Topic

see all