Without a set of clear principles to guide our trading, we stand no chance of achieving consistent results. At Wanderer, we achieved a consistent return by following a clear seat of trading principles. One of our key principles focuses on limiting risk through a clear plan that applies to every trade. Not only do we know what our target price is, but more importantly, we know our exit price should the trade go against us. We’re all going to be wrong sometimes, and it’s in acknowledging that—not fighting it—that results come. By letting just one or two trades blow through our risk parameters, an entire year’s worth of returns can be lost. Experience and a clear set of trading principles is what keeps our accounts growing. That’s what you’ll find here at Wanderer. A clear set of principles that guide our trading system. Through years of experience, we know, trust, and relentlessly follow that system. As a result, we’re able to see consistent results year after year. And so are our Wanderer Members.
Preservation of capital first, then profits.
Find a trading system that works for you, then stick to it. The system can change over time, but only with sustained study and numbers to back it up. Our system does not change daily or trade by trade.
Like a professional pilot, always run through your checklist before entering any trade.
Trades should have a minimum reward-to-risk ratio of 2:1
Have a plan for each trade before you make it. Know your stop and target prices.
Adjust stop prices up, never down. You want to lock in profits, not extend losses.
Never risk more than 1% of your portfolio on any one trade.
Keep trade records. Regular review helps you narrow down ways to maximize performance.
Focus on technical analysis and tune out the noise. Remember that if you hear news about a stock from Jim Cramer or your Uber driver, you are officially the last to know.
Lastly, remember that there is more to life than computer screens and dollar signs. Step away, get outside, and wander. The world is a wonderful place.
Pat has spent the past sixteen years traveling the world, having transitioned from Chicago pit trader into wandering screen trader. Lorin started his trading from a screen and has continued to bring that style with him wherever he goes. What neither of us wants is constant risk that requires constant screen time. We have built trading techniques that are easy to understand, implement, and manage. Our focus is to get out and truly enjoy life while at the same time be able to effectively manage and make money.
When it comes to managing risk there is nothing like experience to help you learn. While Pat was still in the trading pits and surrounded by professional traders, he'd see new traders come in and lose everything they had through their own hubris. They had no risk management plan in place, something that every single trade needs — no matter how big or small. With each trade we enter there is a clear entry, exit, and target price. The entry is where we will put on the trade, the target is where we are expecting the trade to go, and the exit is where we will bail out of the trade should it go against us.
Sometimes it takes time for those opportunities to present themselves. The market isn't on anyone's time schedule. The market doesn't care that you are online that day and that you want to make a trade. A wandering lifestyle and patience go hand-in-hand. You should be able to live the lifestyle you want, and when you are ready to follow the market you should be able to look and quickly assess whether opportunities are there or not. That's where our analysis — communicated in Basecamp, WhatsApp, and the Weekend Updates — comes in. We've done all the legwork. We've evaluated risks, we've identified patterns, chart set-ups, entries, targets, and exits. Your job then, is simply to execute. And we'll even teach you how to do that. Join us today, and you too can gain the freedom to live the mobile lifestyle!
Pat began trading commodities straight out of college, taking a job as a pit reporter at the Minneapolis Grain Exchange. He quickly moved to the trading floor as head clerk at a trading firm where he fell in with a small group of successful traders who would become his mentors. He sold his car, put $5,000 in a trading account, and never looked back. Two years later he moved to Chicago to trade in the Soybean Options pit. He stood shoulder to shoulder with hundreds of other pit traders in Chicago, managed his risk, turned a nice profit, and fled the city for a wandering life. He sailed around the world aboard his first boat Bumfuzzle, drove around most of it in a VW bus, raced across America in a vintage Porsche, sailed and began raising a family in Mexico, traveled extensively in vintage motorhomes, and is currently cruising the high seas again aboard a trawler. He is now in his 20th year of trading, the vast majority while traveling abroad in over 60 countries.
While the world was distracted by the tech bubble of the 90’s, Lorin was busy studying the undervalued metals market. His love of adventure prompted him to develop a trading system that is ideal for a traveler. After 20+ years of fine-tuning, he’s learned to spot setups with low-risk, high-reward probabilities that are perfect for the wandering lifestyle. His thirst for adventure and willingness to step out of his comfort zone has allowed him enjoy some epic adventures with his family. He and his wife of over 20 years have two boys. Together, the four of them have traveled the U.S., each on their own motorcycle. They have enjoyed traveling in motorhomes and custom vans and have even traveled the east coast via a sailboat. In general, they have tried to spend as much adventurous time together as possible before their boys grew up and moved away. Their lifestyle is a testament to enjoying life to the fullest.