Lessons From A Market Great: Randy McKay

Sep. 24, 2018 5:30 AM ETNFLX20 Comments
Taylor Dart profile picture
Taylor Dart


  • Randy McKay was an enormously successful trader who started his trading career by turning $2,000 into $70,000 in the newly formed currency futures market.
  • Randy McKay eventually parlayed his stake of under $10,000 into over $10 million over a 20-year period.
  • This article discusses some strategies he used to fuel this performance, as well as specific trades that led to him building his fortune in the futures markets.

In my quest to make today's traders aware of the market greats that are more obscure than the prominent names like Buffett, Graham, Dalio, and Paulson, Randy McKay deserves a top seat on the list of these underrated super-traders. McKay is one of the few famous traders that did not have a rough start which involved some significant setbacks, as McKay was incredibly successful almost from day one. During his first calendar year, he managed to parlay his stake of $2,000 into over $70,000. From there out, there was no looking back. McKay's style is different than most traders as he uses fundamentals in an unconventional way, which was a pivotal component to his success. The below article will discuss core beliefs of McKay's style as well as specific trades that helped McKay to build his fortune.

Randy McKay's early life deviates from that of most traders as he spent what were supposed to be his college years on a tour of duty in Vietnam. He ended up getting drafted after flunking out of his college classes due to a lack of attendance. While he could have got an easier job in the Reserves as his father was a Colonel, McKay decided to take the Marine route as he felt it was his obligation to serve. After returning from Vietnam, McKay worked as a runner on the floor of the Chicago Mercantile Exchange (CME). His big break hit when his brother who was a floor-broker gave him a free seat he received when the International Monetary Market was launched. Before this, seats fetched a price tag of $100,000 and were way out of McKay's budget.

The British Pound Trade

In 1976, the British government announced it was not going to allow the Pound to trade above $1.72. It was concerned that the Pound's

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Taylor Dart profile picture
"A bull market is when you check your stocks every day to see how much they went up. A bear market is when you don't bother to look anymore."- John Hammerslough - Disclosure: I am not a financial advisor. All articles are my opinion - they are not suggestions to buy or sell any securities. Perform your own due diligence and consult a financial professional before trading or investing.

Disclosure: I am/we are long AMZN, MA, V, NFLX, UPRO. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I would love to know what companies you believe are superior long ideas that are underrated. While I do track 3,000+ stocks on a weekly basis, there are always a few that fly under my radar. My articles get plenty of comments, and I'm always open to new ideas and food for thought. If you like this article and hope to see more like it in the future, check the little thumbs up at the end of the article. In addition, please feel free to follow me by clicking on my name next to my avatar at the top of this article.

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