Words of Wisdom Podcast - Interview with Elite Options Trader Brando

Introduction

• Podcast: Words of Wisdom - Number one trading podcast
• Location: Las Vegas, USA
• Guest: Brando, elite options trader with a verified career of multiple eight-figure earnings
• Key Sponsor: Trade Zella, a trading tool for traders

Brando's Trading Philosophy

• Golden Rule Broken: Brando does not use stop losses in his trading
  • Believes stop losses limit potential gain in high volatility options trading
  • Sizes positions for zero - mentally prepared for potential full loss
  • Method helped move from seven to eight figures
  • Advocates for understanding personal risk appetite

Risk Management and Strategy

• Emphasizes understanding and managing risk
  • Example: High-risk appetite contributing to success
  • Risk is not entire account, but a small percentage per trade depending on setup
• Prefers momentum trading; waiting for the right market conditions
• Trading style: Simplified strategy focusing on support and resistance
• Avoids complex indicators; relies on price action

Key Achievements and Trades

• Major trade with GameStop (GME) during the short squeeze, earning $2.7 million in 24 hours
• Logged over 6,500 trades with a win percentage of about 74%
• Attributes success to patience and waiting for high-quality setups

Market Insights

• Discussed the importance of market conditions and adapting strategies
• Example: Handling market shifts in 2022
• Stress on learning quickly and adapting to new market conditions
• Discussed market dynamics during Donald Trump's presidency and anticipation for his potential return

Psychology and Mindset

• High tolerance for risk and detachment from money emotionally
• Experience with large losses (e.g., $1.5 million in April 2023)
• Importance of maintaining a positive mindset and learning from losing streaks
• Emphasizes the importance of reviewing trades and understanding personal trading patterns

Career and Personal Insights

• Trading career began at age 19 with no other job
• First million earned by age 23
• Discussed the struggle with revealing his successful career to family
• Stress on the importance of having a second income to alleviate trading pressure

Advice for Traders

• Importance of finding a personal edge and risk management
• Advice for beginner traders: patience and understanding personal risk limits
• Emphasizes learning from losing trades and reviewing data consistently

Closing Thoughts

• Motivation driven more by the process and winning rather than money alone
• Advises traders to enjoy the process by having a genuine interest in finance and trading
• Future focus on continuing trading and adapting to market changes

Closing Remarks

• Encouragement for traders to focus on process, enjoy learning, and be patient
• Invitation to check out Brando’s resources and platforms for further insights.