Futures trading is a fascinating land for high potential earnings and the advantage of less risk exposure to price swings. Thus, many traders love to join this market, yet many cannot make it through. It explains why we expect your surprise when introducing Lee B. Stern - the top futures trader with more than 70 years of experience!
Which Metrics Do You Use To Measure The Success Of A Futures Trader?
When you search "who is the most successful futures trader" online, thousands of names will pop up on the screen. Yet, have you ever wondered which criteria people use to list them as successful traders?
The first thing first is how much a trader earns from his investments. If he makes ends meet, people will not look for a trader's information, trading methods, etc. So, gaining high profits is the first and most crucial factor to consider whether a trader is successful or not.
Yet, it is not perfect until the element of consistency comes along. There are many moments when dumb lucks could have traders enjoy the sweetness of huge earnings. Yet, we do not count such one-off profits but consistent winning.
A futures trader should maintain his high profitability through the ups and downs of the market for years. If so, he could become the top leader in this trading instrument. In other words, we want to talk about a trader who has a long career as a futures trader and knows how to turn the tables on many dilemmas in the trading markets.
Is It Hard To Gain Consistent Profits In The Futures Market?
It is fair to state that futures trading is not the only instrument to challenge your mind and body. Nevertheless, you are getting profits as you trade-off risks, especially in the highly volatile financial markets.
Futures have specific risks due to high liability requirements to complete an obligation. You have to deposit more money into your trading accounts, which might be difficult for some traders.
Yet, you can use the obligation of futures trading as an advantage to lock optimal price levels. As a result, your business will be less vulnerable to crazy price fluctuations.
So, it depends on your skills and knowledge of futures trading to determine whether you can keep on high winning rates. And if you wonder if there is any role model or prominent figure, there are many, but we will introduce you to the most extended futures trader - Mr. Lee B. Stern.
Meet Lee Stern, One Of The Most Prominent Futures Traders 
Who Is He?
Lee B. Stern became an official member of the Chicago Board of Traders (CBOT) in 1949 after spending two years as a runner for Merrill Lynch. Since then, he has traded commodities for more than seven decades and listed himself as among the most profitable futures traders.
Besides being an avid futures trader, Lee Stern is a former president of the North American Soccer League's Chicago Sting before managing the Chicago White Sox.
The long time of serving as an active trader in CBOT makes people curious about Lee Stern's journey, the challenges, and the favors along the way.
Tough Times Made A Tough Trader
Lee's starting point is to trade soybeans and apply spread trading with the investment by the supporting money of his parents. Small initial budgets did not challenge him but taught him to be cautious of his trade placements.
Yet, it must have been unreal if Lee Stern had not experienced any pitfalls. Among his failures, 'the bond fiasco' was the biggest one. It took place when two exchange members violated the laws of trading treasury bonds and options.
Unfortunately, one of them was a new customer of Lee Stern. As a result, the cost rose to $8.5 million, which the company covered. However, the title of clearing member is what Lee Stern lost.
At such challenging times, support from colleagues is essential. Jack Sandner and Leo Melamed - two executives at the Chicago Mercantile Exchange (CME), livened Lee Stern up with practical encouragement and beautiful words.
After the costly and painful event in 1992, Lee bounced back with the huge earnings from soybeans in 1993. It shows how strong his mind is to get through tumultuous market movements. However, winning back failing money is impossible, so it is best to keep moving forward with strategies by insights from detailed analysis!
In 2010, Lee B. Stern published an autobiography, A Kid From The Windy City. It is a brilliant chance to take glimpses into how Lee has traded. You might learn the secrets of not only surviving through competitive financial markets but also gaining higher profits.
After More Than 70 Years Of Futures Trading, Will He Continue?
Since becoming an official member of the Chicago Board of Traders in 1949, Lee Stern has been active in multiple markets, such as bonds, golds, grains, crude oils, etc. Seventy years have passed, and the profits he could generate from futures trading still surprise you.
People now attach 'the longest career as a futures trader' to Lee Stern for respect, admiration, and inspiration. However, it is not his way of making a living but a way of life with a passion for mastering the seemingly uncontrollable price volatility.
Also, he is an inspirational figure in the field of futures trading. His persistence in technical analysis and his sensitivity to the market trends generate the reward of high profits.
Lee also shared that he will continue trading as long as he is alive. What a bold statement, but it simultaneously expresses his confidence in trading ahead!
Going backward in his trading history helps us unfold many underlying principles behind profitable trades. Failures or taking risks are not the factors we can altogether avoid. Instead, we should and can do things to minimize them and draw experiences from such unpleasant events if they happen!
Deep diving into a successful futures trader's career could reveal why stable profitability is possible no matter how tumultuous the market is.
References:
https://www.thestreet.com/markets/meet-the-world-s-longest-serving-futures-trader-14819139
https://www.investopedia.com/articles/optioninvestor/09/be-a-better-futures-trader.asp
https://www.amazon.com/Kid-Windy-City-Lee-Stern/dp/0978866347
https://en.wikipedia.org/wiki/Lee_Stern