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257: Financial Fortitude: Johnny Profita’s Approach to Risk-Managed Trading

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Manage episode 401591455 series 2585341
内容由Mikkel Thorup提供。所有播客内容(包括剧集、图形和播客描述)均由 Mikkel Thorup 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal
Johnny spent 15 years in finance managing a billion-dollar fixed-income portfolio before he quit his 9-5 job and abandoned his life in Chicago to pursue the life he always wanted but never thought was possible. He currently lives in Mexico, where he now practices and teaches Futures and Forex trading while opining on politics, current events, and economics on the Peddling Fiction podcast.

TODAY'S CONVERSATION WITH JOHNNY PROFITA

  • Listen to Johnny recount how he “fell into” the world of finance as someone for whom math ”wasn’t one of his strong points” - with a degree in history, not finance!
  • Hear Johny lay out some of his rules for trading, most of which he had to learn the hard way - by making costly mistakes.
  • Johnny and I discuss the difficult but necessary task of removing feelings and emotions from the trading process.
  • I recall how some of the lessons I learned myself the hard way by losing money in my options trading days.
  • Johnny explains his motto for trading: "1% day keeps the 9 to 5 away.”
  • Hear Johnny describe the disturbing trend with IPOs over the last couple of decades which has seen many retail traders left holding the bag.
  • Johnny and I discuss the outlook for new traders looking to enter the market now, as high-interest rates have put an end to the flow of free money.
  • Will the dollar remain the world’s reserve currency for much longer? Johnny gives his prediction of what’s in store for the world’s currency markets.
  • We discuss the fine line between being prepared for what is going to happen economically without acting like “The End” is always around the corner.
  • Lastly, Johnny highlights the sharp increase in happiness he has found since leaving his “abusive relationship” with Chicago and starting a new life in Puerto Vallarta, Mexico.

RELATED EPISODES

237: What's It Like Relocating to Mexico When the World Doesn't Make Sense - Jonathan Lockwood 123: Investing in Foreign Stock Markets Like A Boss - Eric Schleien 093: Why Are People Leaving The USA – Travis Luther

HOW TO FIND JOHNNY’S WORK

Peddling Fiction Podcast Peddling Fiction Substack

CONCLUSION

What I had first planned as a conversation about Mexico turned into an important conversation about the nature of trading and how to avoid many of the same mistakes Johnny and I have made in our own time. Once the conversation turned to Johnny’s experience on this, I just had to dig in deeper, as it’s a topic we haven’t covered extensively on the show yet. See you next Wednesday!

Mentioned in this episode:

JOIN US IN PANAMA - FLY'N BUY TOUR

Beginning of Q4, 2024, the Panama government has already stated that they are increasing the investment minimums for immigration from $300k to $500k for real estate; we also expect them to make this process more difficult! Because of this, I have decided to run a few quick trips to Panama for our community. Seeing the real estate in Panama is an important part of the due diligence process, that’s why I would like to pay for you to join me in Panama. All you have to do is sign up for the tour at https://expatmoney.com/fly, pay for the tour, and if you end up finding a property that fits your needs on the trip, then the amount you paid for the tour PLUS your airfare (up to $1000 USD) will be taken off the purchase price, making the entire tour and flights essentially free for you. Why am I offering you this awesome deal? Because my hope is you will hire me and my lawyers to do your immigration work! Our company has helped hundreds of people successfully go through the immigration process in Panama, and we do an excellent job, if I do say so myself. This is a service we offer to everyone in our community, but you have to choose a good property that will qualify you first.

Panama Fly'n Buy Real Estate Tour

Join Us For Upcoming Live Webinars

Every month, we offer exciting new webinars for our community. Topics include how to use retirement accounts to buy real estate overseas, how to get a second passport in Latin America, why you should sell your stock portfolio and move your money offshore, how to buy a beachfront rental property in Brazil for less than $100k, or apartments in Paraguay for $60k. If you want to join us for FREE for these presentations with live Q&A, insider secrets, and exclusive opportunities with my professional network of experts, then sign up today.

Webinars - Expat Money

  continue reading

295集单集

Artwork
icon分享
 
Manage episode 401591455 series 2585341
内容由Mikkel Thorup提供。所有播客内容(包括剧集、图形和播客描述)均由 Mikkel Thorup 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品,您可以按照此处概述的流程进行操作https://zh.player.fm/legal
Johnny spent 15 years in finance managing a billion-dollar fixed-income portfolio before he quit his 9-5 job and abandoned his life in Chicago to pursue the life he always wanted but never thought was possible. He currently lives in Mexico, where he now practices and teaches Futures and Forex trading while opining on politics, current events, and economics on the Peddling Fiction podcast.

TODAY'S CONVERSATION WITH JOHNNY PROFITA

  • Listen to Johnny recount how he “fell into” the world of finance as someone for whom math ”wasn’t one of his strong points” - with a degree in history, not finance!
  • Hear Johny lay out some of his rules for trading, most of which he had to learn the hard way - by making costly mistakes.
  • Johnny and I discuss the difficult but necessary task of removing feelings and emotions from the trading process.
  • I recall how some of the lessons I learned myself the hard way by losing money in my options trading days.
  • Johnny explains his motto for trading: "1% day keeps the 9 to 5 away.”
  • Hear Johnny describe the disturbing trend with IPOs over the last couple of decades which has seen many retail traders left holding the bag.
  • Johnny and I discuss the outlook for new traders looking to enter the market now, as high-interest rates have put an end to the flow of free money.
  • Will the dollar remain the world’s reserve currency for much longer? Johnny gives his prediction of what’s in store for the world’s currency markets.
  • We discuss the fine line between being prepared for what is going to happen economically without acting like “The End” is always around the corner.
  • Lastly, Johnny highlights the sharp increase in happiness he has found since leaving his “abusive relationship” with Chicago and starting a new life in Puerto Vallarta, Mexico.

RELATED EPISODES

237: What's It Like Relocating to Mexico When the World Doesn't Make Sense - Jonathan Lockwood 123: Investing in Foreign Stock Markets Like A Boss - Eric Schleien 093: Why Are People Leaving The USA – Travis Luther

HOW TO FIND JOHNNY’S WORK

Peddling Fiction Podcast Peddling Fiction Substack

CONCLUSION

What I had first planned as a conversation about Mexico turned into an important conversation about the nature of trading and how to avoid many of the same mistakes Johnny and I have made in our own time. Once the conversation turned to Johnny’s experience on this, I just had to dig in deeper, as it’s a topic we haven’t covered extensively on the show yet. See you next Wednesday!

Mentioned in this episode:

JOIN US IN PANAMA - FLY'N BUY TOUR

Beginning of Q4, 2024, the Panama government has already stated that they are increasing the investment minimums for immigration from $300k to $500k for real estate; we also expect them to make this process more difficult! Because of this, I have decided to run a few quick trips to Panama for our community. Seeing the real estate in Panama is an important part of the due diligence process, that’s why I would like to pay for you to join me in Panama. All you have to do is sign up for the tour at https://expatmoney.com/fly, pay for the tour, and if you end up finding a property that fits your needs on the trip, then the amount you paid for the tour PLUS your airfare (up to $1000 USD) will be taken off the purchase price, making the entire tour and flights essentially free for you. Why am I offering you this awesome deal? Because my hope is you will hire me and my lawyers to do your immigration work! Our company has helped hundreds of people successfully go through the immigration process in Panama, and we do an excellent job, if I do say so myself. This is a service we offer to everyone in our community, but you have to choose a good property that will qualify you first.

Panama Fly'n Buy Real Estate Tour

Join Us For Upcoming Live Webinars

Every month, we offer exciting new webinars for our community. Topics include how to use retirement accounts to buy real estate overseas, how to get a second passport in Latin America, why you should sell your stock portfolio and move your money offshore, how to buy a beachfront rental property in Brazil for less than $100k, or apartments in Paraguay for $60k. If you want to join us for FREE for these presentations with live Q&A, insider secrets, and exclusive opportunities with my professional network of experts, then sign up today.

Webinars - Expat Money

  continue reading

295集单集

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