August 16, 2023

257: How To Not Lose All Your Money Trading - Johnny Profita

50 minutes

Johnny spent 15 years in finance managing a billion-dollar fixed-income portfolio before he quit his 9-5 job and abandoned his life in Chicago to pursue the life he always wanted but never thought was possible.

He currently lives in Mexico, where he now practices and teaches Futures and Forex trading while opining on politics, current events, and economics on the Peddling Fiction podcast.

TODAY'S CONVERSATION WITH JOHNNY PROFITA

Listen to Johnny recount how he “fell into” the world of finance as someone for whom math ”wasn’t one of his strong points” - with a degree in history, not finance!

Hear Johny lay out some of his rules for trading, most of which he had to learn the hard way - by making costly mistakes.

Johnny and I discuss the difficult but necessary task of removing feelings and emotions from the trading process.

I recall how some of the lessons I learned myself the hard way by losing money in my options trading days.

Johnny explains his motto for trading: "1% day keeps the 9 to 5 away.”

Hear Johnny describe the disturbing trend with IPOs over the last couple of decades which has seen many retail traders left holding the bag.

Johnny and I discuss the outlook for new traders looking to enter the market now, as high-interest rates have put an end to the flow of free money.

Will the dollar remain the world’s reserve currency for much longer? Johnny gives his prediction of what’s in store for the world’s currency markets.

We discuss the fine line between being prepared for what is going to happen economically without acting like “The End” is always around the corner.

Lastly, Johnny highlights the sharp increase in happiness he has found since leaving his “abusive relationship” with Chicago and starting a new life in Puerto Vallarta, Mexico.

RELATED EPISODES

237: What's It Like Relocating to Mexico When the World Doesn't Make Sense - Jonathan Lockwood

123: Investing in Foreign Stock Markets Like A Boss - Eric Schleien

093: Why Are People Leaving The USA – Travis Luther

HOW TO FIND JOHNNY’S WORK

Peddling Fiction Podcast

Peddling Fiction Substack

CONCLUSION

What I had first planned as a conversation about Mexico turned into an important conversation about the nature of trading and how to avoid many of the same mistakes Johnny and I have made in our own time. Once the conversation turned to Johnny’s experience on this, I just had to dig in deeper, as it’s a topic we haven’t covered extensively on the show yet.

See you next Wednesday!

Mentioned in this episode:

Into The Amazon—Then Straight To The Beach

This year, I’m taking a private group into the Amazon rainforest—then we head to Fortaleza and explore Brazil’s booming Northeast coast. Think Amazon river cruises, beachfront developments, and wide-open opportunity. From the heart of the rainforest to pristine beaches most people only dream about—this is bucket-list meets Plan-B strategy. If you’ve ever wanted to see the real Brazil and scout investments along the way, this is it. Go to ExpatMoney.com/Brazil.

Brazil Tour August 2 - 9, 2025

Join Us For Upcoming Live Webinars

Every month, we offer exciting new webinars for our community. Topics include how to use retirement accounts to buy real estate overseas, how to get a second passport in Latin America, why you should sell your stock portfolio and move your money offshore, how to buy a beachfront rental property in Brazil for less than $100k, or apartments in Paraguay for $60k.

If you want to join us for FREE for these presentations with live Q&A, insider secrets, and exclusive opportunities with my professional network of experts, then sign up today.

Webinars - Expat Money

Join Us For Upcoming Live Webinars

If you want to join us for FREE for these presentations with live Q&A, insider secrets, and exclusive opportunities with my professional network of experts, then sign up today.

Webinars - Expat Money

Gold in the Caribbean—No Bank Can Touch It

Fiat is failing. Banks are cracking. And smart investors are moving their gold offshore—outside the system. I’ve partnered with a fully insured private vault in the Caribbean where you can buy, store, and protect physical gold… legally and securely. The entire account opening is done online—fast, private, and no nonsense. If you’re serious about protecting your wealth, get the details now at ExpatMoney.com/gold

Offshore Gold & Silver

Into The Amazon—Then Straight To The Beach

Brazil Tour August 2 - 9, 2025

...more

View all episodes

By Mikkel Thorup

173173 ratings