Brad Schaeffer – Author of “Life in the Pits: My Time as a Trader on the Rough-and-Tumble Exchange Floors”

Life in the Pits: A Journey Through the World of Trading with Brad Schaeffer

Mike interviews Brad Schaeffer.

In the fast-paced world of trading, where fortunes can be made or lost in the blink of an eye, few possess the firsthand experience and insights of Brad Schaeffer. Recently, We had the privilege of sitting down with Brad to delve into the captivating stories and valuable lessons he shares in his book, “Life in the Pits: My Time as a Trader on the Rough-and-Tumble Exchange Floors.”


Brad Schaeffer’s journey into the world of trading began in the late 1980s when he found himself on the floor of the Chicago Mercantile Exchange. From there, he embarked on a whirlwind adventure, trading energy futures and options in New York and later transitioning to the American Stock Exchange. Brad’s experiences spanned a pivotal era in trading history, witnessing the evolution from open outcry to electronic trading and the profound impact of world events on the markets.

One of the most gripping tales Brad shared was his firsthand account of trading during the Gulf War. As tensions escalated and Saddam Hussein’s invasion of Kuwait sent shockwaves through the oil markets, Brad found himself during chaos and opportunity. The sheer volatility of the markets during this time presented immense risks and lucrative rewards, showcasing the adrenaline-fueled nature of trading in times of crisis.

But beyond the adrenaline rush, Brad also shed light on the essential principles that underpin successful trading. One such principle is discipline – the ability to cut losses early and not succumb to hope or fear. Brad emphasized the importance of having a predefined exit strategy and sticking to it, regardless of market fluctuations. This disciplined approach, honed through years of experience, sets the truly successful traders apart.

Mike Fallat and Brad Schaeffer talk about the book Life in the Pits: My Time as a Trader on the Rough-and-Tumble Exchange Floors.

Moreover, Brad’s insights extended beyond the trading floor, touching on the transformative power of writing. As an author, Brad shared how writing has deepened his understanding of the world and provided a creative outlet to share his experiences with others. Brad seeks to immortalize his legacy through his books and impart invaluable lessons to future generations of traders and readers alike.

Throughout our conversation, Brad’s passion for trading and storytelling shone through, captivating listeners with tales of triumph and tribulation in finance. From the adrenaline-fueled moments of trading frenzy to the sobering lessons learned from market downturns, Brad’s journey offers a compelling glimpse into the highs and lows of life in the pits.

Our conversation with Brad Schaeffer was a riveting exploration of the trading world, illuminated by firsthand experiences and timeless wisdom. His book, “Life in the Pits,” serves as a beacon for aspiring traders and seasoned investors, offering invaluable insights and lessons gleaned from a lifetime spent navigating the tumultuous waters of finance. Whether you’re a novice trader or a seasoned veteran, Brad’s story will inspire and enlighten you, leaving an indelible mark on all who venture into the thrilling world of trading.

Get his book here:

About Mike Fallat

Mike Fallat, aka The BookMan, is the owner of Dreamstarters Publishing and the Million Dollar Book Agency. They have helped 300+ entrepreneurs become bestselling authors. His goal is to help 1,000 entrepreneurs publish books and teach them how to use their books as a gateway to generating 7-figures.

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About Dreamstarters Publishing

Dreamstarters Publishing offers ghostwriting, cover design, and everything that is required to take an idea to a finished book (kindle, paperback, hardcover, and audiobook).

The Million Dollar Book Agency is the ultimate marketing CRM system for author-preneurs. Services include automated funnels, lead generation campaigns, book fulfillment, podcast management, press releases, virtual assistants, course development, and more.

Mike also hosts a podcast known as Million Dollar Stories and runs a membership-based site known as Million Dollar Circle. In addition to owning the book business, he invests in self storage real estate.

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