Losing A Fortune & Making It Back With Trading
In episode 270 of the Desire To Trade Podcast, I sit down with Scott Andrews. This trader has an amazing story of struggles followed by great success.
Scott first made his fortune in tech prior to the Dot-Com bubble in the 2000s. He then saw his net worth go down with the market crash, which is what led him to trading. Although he was lucky in his first year, Scott saw his account very quickly and needed to develop the right skills in order to continue his journey toward becoming a successful fund manager.
More about Scott Andrews
Scott Andrews is Co-founder and CEO of InvestiQuant, Inc. and oversees all company operations. In 2008, Mr. Andrews founded Master The Gap, Inc. where he gained recognition helping self-directed investors use intraday trading techniques to navigate the 2008-2009 financial crisis and take advantage of its extraordinary volatility. In 2010 he and his fellow co-founder, David Skowron, began assembling trading systems to create more accurate market forecasts. In 2015, the company was renamed InvestiQuant and collaborated with Duke University’s Center for Quantitative Modeling to evolve its predictive analytic models.
In This Episode, You'll Learn…
- 0:00 Start
- 0:12 Introduction to the interview
- 1:00 Who is Scott Andrews and how he got into trading
- 12:05 How Scott got back on track after losing a large chunk of his trading capital
- 17:17 How Scott started to develop and test his algo strategies
- 23:33 The importance of testing and gathering your data for your trading strategies
- 24:51 What to do when your strategies experience a loss larger than your expected results
- 30:41 How Scott would recommend starting looking at managing money
- 37:24 How Scott and his fund scaled down in size during drawdowns
- 38:45 What are the most important things Scott learned from managing investors capital
- 40:33 Scott's top tips for developing traders
- 43:01 Where to find Scott
- 43:53 Do this when learning to trade
- And much more!
What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group!
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How To Find Scott Andrews?
What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!