- I am a co-learner in this course for traders. Each participant is a student as well as a teacher including the mentor.
- I humbly accept that I had my highs and lows in the never ending journey called Trading ( " Hilotrader")
- My effort is to find my own fusion of academic finance and trading.
- I am not teaching a canned system but a thinking process.
- Can I emphasize Mechanics,Tactics and Strategies thereby accelerating the learning curve of beginning traders.
- My own learnings from 2003 onwards in the tradition of DailySpec, Traderfeed, Fooled by Randomness will give a framework to approach trading.
- The course fulfils my desire and need to express myself and find flow in the feedback of my co-learners.
- My effort to integrate Pivot points, Day Structure,Sector Themes, Preparation for the Day, Risk management,Trading psychology into a coherent framework will definitely protect beginners from blowing out before market allows them to learn to be competent traders
- To put things in perspective, I have never blown my account in the past ten years of my active trading. Never panicked in a 10% move in Index, 70% down move in my stock ( Unitech in Oct 2008) in one trading session and always manged my risk.
- An approach to markets, relentless drive to find your own trading style, Discovering your niche are the points I drive home in my course.
- As for being a supertrader, knowledge is necessary but not sufficient, Risk-taking capacity is also needed. I try to trade within my risk parameters avoiding entering into Gambling territory.
- I thank the reader for helping me clarify my thoughts on the course for Traders
Wednesday, November 4, 2009
Why A Course for Traders
A reader commented on the blog about teaching trading without being a super trader. I will summarize my thoughts on this in response to his observations.
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2 comments:
Dear Prof.
I read the comment before your answer to it.
I must tell you it has great merit to maintain such an aggressive comment in your blog, and it takes great humility and courage to answer it openly.
I don't know the trading background of this person, but I'm suspicious of everyone who claims trading to be an easy task.
Anyone who claims trading to be easy - surely doesn't make a living from trading. (That's why I don't like very much Dr. Brett books... It's clear to me that he is not a trader in the full meaning of the word. I rather to learn "trading psychology" from traders who really live from trading - In that matter, I would recommend an excellent book by Mark Fisher (the man who trained Paul Tudor Jones pit traders) - "The Logical Trader" (you find it at www.avaxhome.ws).
You know, I also had my ugly ups and downs.
"BEEN THERE, DONE THAT, BOUGHT THE SHIRT"
I started searching for guidance and I first found it in the person and work of Larry Williams (www.ireallytrade.com). Then I started to read other authors, (including Victor).
The point is that I spend many years just to develop a conceptual framework for trading!!!! Many years just to understand (although roughly) the INTELECTUAL part of trading.
Now, imagine my position, some time ago: being a market encyclopedia - and trading poorly.
When I had enough bad trades, I realized that INTELECTUAL knowkedge of the markets wasn't enough.
And... no "psycho trading" books were of ANY help.
ANY.
AT ALL.
The first good "trading psychology" advise came from Larry Williams (I will quote it in my blog, next post!). It was something like this: "It's not the positive feelings that generate good trades...It's doing the right thing that generate good trades - and the good trades generate positive feelings."
SO, there I was, stuck in the middle of bad trades - but "knowing" a lot about the markets. In sum, my TRADING didn't correspond to my KNOWLEDGE.
Then I realized a trading METHOD that just solved every trading discipline issue I had. And it worked well for my students and for everyone who started using it. (I can disclosure it for you via skype).
But, the point is: one struggle a LOT to achieve a minimal understanding of the markets - then, one have to struggle EVEN MORE to make this knowledge "work".
I can see you are definitively in the path of making your knowledge work... And if I can be of some help in this process, I would be honored.
NAMASTE!
Dear Prof.
I read the comment before your answer to it.
I must tell you it has great merit to maintain such an aggressive comment in your blog, and it takes great humility and courage to answer it openly.
I don't know the trading background of this person, but I'm suspicious of everyone who claims trading to be an easy task.
Anyone who claims trading to be easy - surely doesn't make a living from trading. (That's why I don't like very much Dr. Brett books... It's clear to me that he is not a trader in the full meaning of the word. I rather to learn "trading psychology" from traders who really live from trading - In that matter, I would recommend an excellent book by Mark Fisher (the man who trained Paul Tudor Jones pit traders) - "The Logical Trader" (you find it at www.avaxhome.ws).
You know, I also had my ugly ups and downs.
"BEEN THERE, DONE THAT, BOUGHT THE SHIRT"
I started searching for guidance and I first found it in the person and work of Larry Williams (www.ireallytrade.com). Then I started to read other authors, (including Victor).
The point is that I spend many years just to develop a conceptual framework for trading!!!! Many years just to understand (although roughly) the INTELECTUAL part of trading.
Now, imagine my position, some time ago: being a market encyclopedia - and trading poorly.
When I had enough bad trades, I realized that INTELECTUAL knowkedge of the markets wasn't enough.
And... no "psycho trading" books were of ANY help.
ANY.
AT ALL.
The first good "trading psychology" advise came from Larry Williams (I will quote it in my blog, next post!). It was something like this: "It's not the positive feelings that generate good trades...It's doing the right thing that generate good trades - and the good trades generate positive feelings."
SO, there I was, stuck in the middle of bad trades - but "knowing" a lot about the markets. In sum, my TRADING didn't correspond to my KNOWLEDGE.
Then I realized a trading METHOD that just solved every trading discipline issue I had. And it worked well for my students and for everyone who started using it. (I can disclosure it for you via skype).
But, the point is: one struggle a LOT to achieve a minimal understanding of the markets - then, one have to struggle EVEN MORE to make this knowledge "work".
I can see you are definitively in the path of making your knowledge work... And if I can be of some help in this process, I would be honored.
NAMASTE
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