Futures Radio is a weekly talk show hosted by 17-year futures veteran and CME member Anthony Crudele, an ex-pit trader and one of the first to trade the E-Mini S&P. Each week Anthony talks with traders, CEOs, and other proven market participants about relevant trading and investing information.

EP: 119 What You Give Up in Age, You Gain in Wisdom

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Guest:

Q Lahre

Research Director, Co-Founder Statfutures, Inc.

Record Date: 3/21/17

Dear Traders,

Today I spoke to someone who graduated from Indiana University and started immediately as an analyst.  They became a wheat trader in 1980 at the CBOT with Pilsbury and eventually went on to trade with Trans Market Group for 13 years. They then moved to Kansas City to trade on the Kansas City Board of Trade and continues to trade wheat electronically to this day. Their name is Q Lahre. 

#FuturesRadio 'The key thing is you have to adapt quickly, the players somewhat change, but the… Click To Tweet

Today Q and I spoke about the evolution of trading the ag markets from the pits to the screens…. Q believes that Artificial Intelligence is going to be the next generation of trading.

We discussed why the economics of the ag markets in 2008, 10, and 12 created a problem for farmers and traders in the U.S and what Q sees in the ag markets today.

Q talks to us about a statistical approach to trading markets and gave us some insight on China and Russia.  It was a blast talking to Q, we shared similar backgrounds starting in the pits and moving on to electronic trading.  Whether you are a commodity trader or focused on fixed income and equities you will love hearing Q’s insight on trading the markets.  Thank you all for listening and please enjoy this episode.

Biggest Takeaways:

  1. Evolution of trading from Pits to Screens to Artificial Intelligence. How Q’s trading has changed. Importance of finding a mentor.
  2. 08, 10, and 12 created a problem for farmers and ag industry … The wheat industry and growing competition from Russia. Also, soybean production growing and increasing competition.
  3. How Q looks at the markets and the statistical approach. What Q’s looking at before taking trades. A scenario brewing in Chinese commodity markets, and government.
  4. Watching the soybean and corn production affecting price bigly.

Rapid Fire:

  1. How has your trading evolved over the years?
    • I’ve gone to computerized and statistical approach. More mathematical than before.
  2. Can you tell me the moment that trading just clicked for you?
    • Spring of 85’. It all clicked with my analytics, wait for the moment and do it.
  3. What’s the number 1 source you spend your time on?
    • Twitter
  4. Favorite Book About Trading:
    • Art of War.
  5. Favorite Movie About Trading:
    • The Big Short.
  6. Best Advice Ever Received About Trading:
    • Quit getting emotional.
  7. Advice to Give to Others About Trading:
    • Get a mentor, and quit being emotional.
  8. If you weren’t a trader you’d be what…
    • Galactic Astro Physicist.

Resources:

Quotes:

  • “Get a mentor, find someone who’s done it. Don’t get emotional. The markets evolve, and the new type of trading will be AI…” 21:00
  • “The key thing is you have to adapt quickly, the players somewhat change, but the game always changes and you have to adapt quickly to it…” 5:45

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