Brady Preston (Port Elgin)
This is a profile of Competitors Club Member, Brady Preston. Brady Preston is currently competiting in The 2013 World Cup Trading Championships. The Grey Bruce Competitors Club is cheering Brady on during his competition this year! Good Luck Brady! We hope you win!
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When Brady Preston was in boarding school in the 11th and 12th grade, his peers thought he was a little off-kilter. “I don’t think they ever really understood what I was doing,” Brady says. “When the other kids were up on other floors, I was in my room programming and learning about trading systems. I have burnt out a lot of computers over the years.”
Preston’s trading began at age 16, when he sold his Honda CR 125 motorcycle for $1,100 and bought corn options with the money. He calls the $1,800 profit he made “a lucky trade that got me hooked,” but his journey since that trade has been built on anything but luck. It has been based on exhaustive research and mentoring at the highest level.
“I am always working and thinking about the next idea or how I can improve,” he says. “Some days my eyes are red from working too long. It is not unusual for me to miss meals if my wife is not home.” Preston says it’s common for him to spend his day trading for 4 hours and researching for another 12 or 14.
“My wife has always been very supportive of my trading,” he says. “If I had married another woman, I would have been divorced a few times by now.”
Additional support has come from superstar trader, author and lecturer Larry Williams. “I email Larry whenever I am stumped with something I am working on,” says Preston. “He will never give me advice on individual trades because he wants me to stand on my own two feet, and I thank him a lot for that. I like to think of him as my mentor. Larry is a very generous person, I would not be doing what I am doing today without him.”
Due largely to the influence of Williams, who won the World Cup Championship of Futures Trading in 1987, Preston entered the competition for the first time in 2009 and walked away with the third-place trophy with a 25.5% net return. He followed that up with a 193.2% return to finish second in the 2010 World Cup Championship of Futures and Forex Trading.
Preston holds a degree in Commerce of Finance from Nipissing University in Ontario, Canada. He trades from home in Port Elgin, a small town on the shore of Lake Huron in Ontario, Canada best known for its annual Pumpkinfest competition. In addition to his personal trading accounts, Brady manages the Preston Capital Fund hedge fund. If it sounds like Brady Preston is all about money, money, money, you don’t know this man well enough.
“I don’t want to be remembered as the person who made a lot of money,” he says. “I want to be remembered as the person that cared enough and did something for the world. My wife and I try to save all of our money and put it towards bigger things. Our plan is to open orphanages in places like Belize and India.”