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Mastering the Markets: Insights from Steve Myers, a Veteran Futures Trader and Money Manager!

Mastering the Markets: Insights from Steve Myers, a Veteran Futures Trader and Money Manager!

Introduction to Steve Myers

Steve Myers, the President and CEO of Myers Capital Management, brings over 30 years of experience in commodities and futures trading. Starting as a retail broker, he transitioned to a professional money manager, gaining expertise in both the cash and futures aspects of commodities. This article delves into his journey and the insights he offers for successful trading and investment management.

From Livestock to Futures: The Early Years

Steve’s journey began in Eastern Montana, where he grew up in a family livestock business. This early exposure to the cash side of the market, dealing with cattle buying and trading, laid the foundation for his understanding of market dynamics. He credits this background with providing him with valuable lessons and a deep appreciation for the complexities of trading.

Transition to Futures Trading and Lessons Learned

The transition from the cash market to futures trading was a significant leap for Steve. He recalls his early days as a retail broker and the challenges he faced, including experiencing the 1987 market crash. He emphasizes the importance of discipline and patience in trading, learning to navigate market volatility and the necessity of having a clear exit strategy.

The Role of Technical Analysis

Steve’s approach to trading heavily relies on technical analysis. He learned to recognize patterns and use technical indicators like stochastics, MACD, and RSI to guide his trading decisions. He also stresses the importance of understanding the fundamental aspects of the market, which he uses to develop a bias for trading decisions.

Managed Futures and Risk Management

In his role as a money manager, Steve prioritizes risk management. He discusses the use of options for risk reduction and the importance of balancing margin to equity ratios. His approach to managing futures includes a keen awareness of market conditions and an adaptability to various market scenarios, from ideal setups to challenging trades.

Personal Approach to Money Management

Steve’s personal philosophy in money management is rooted in caring for his clients and ensuring their investments are handled with the utmost diligence. He prides himself on maintaining the integrity and values he grew up with in Montana. His approach is not about aggressive risk-taking but about calculated, informed decisions that align with his clients’ objectives.

Conclusion: A Comprehensive Approach to Futures Trading

Steve Myers’ journey from a livestock business to a professional futures trader and money manager encapsulates a comprehensive understanding of the market. His approach combines technical analysis, fundamental understanding, and a strong emphasis on risk management. His insights offer valuable lessons for both new and experienced traders in navigating the complex world of futures trading.

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