Archives of “January 5, 2019” day

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These 18 Points will Improve Your Trading

  
  Education
  1. Define your objectives for your trade show giveaway.
  2. Consider how you will select your giveaway item.
  3. Plan who should receive the item.
  4. Decide what promotional message/slogan you want to convey.
  5. Decide how your premium item should tie-in to your marketing theme.
  6. Plan how your premium item will complement your exhibiting goals.
  7. Allocate a realistic budget to achieve your objectives.
  8. Consider having your giveaway be original and relate to your business.
  9. Make sure that it is appealing and appropriate for your target audience.
  10. Make it a useful item if you want people to keep and use it.
  11. Consider what benefits your visitors get from this gift.
  12. Gauge the item’s appeal by asking if you would like to receive it and what you would do with it.
  13. Make sure that the item projects the company image you want your target audience to receive.
  14. Make a plan for distributing your item.
  15. Decide who will receive the item – every visitor or only to a select group.
  16. Decide what visitors need do to qualify to receive a gift item.
  17. Plan how you will inform your target audience about your giveaway item.
  18. Organize a system to measure the effectiveness of your giveaway.

Skill versus Hardwork

  
  Education
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the-thinker4Is trading success dependent on innate skills? Or is hard work suffi-cient? There is no question in my mmd that many of the supertraders have a special talent for trading. Marathon running provides an appro-priate analogy. Virtually anyone can run a marathon, given sufficient commitment and hard work. Yet, regardless of the effort and desire, only a small fraction of the population will ever be able to run a 2:12 marathon. Similarly, anyone can learn to play a musical instrument. But again, regardless of work and dedication, only a handful of individuals possess the natural talent to become concert soloists. The general rule is that exceptional performance requires both natural talent and hard work to realize its potential. If the innate skill is lacking, hard work may pro-vide proficiency, but not excellence.
In my opinion, the same principles apply to trading. Virtually any-one can become a net profitable trader, but only a few have the inborn talent to become supertraders. For this reason, it may be possible to teach trading success, but only up to a point. Be realistic in your goals.

Trading as a Business- Dick Diamond :Book Review

  
  Education
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Dick Diamond has been trading fulltime since 1965. By my calculation that’s fifty years, although the subtitle of Trading as a Business(Wiley, 2015) is The Methods and Rules I’ve Used to Beat the Markets for 40 Years. Ah yes, at the beginning of his trading career Diamond didn’t beat the market. In fact, in late 1968, when he had positions in fifteen low-priced, go-go AMEX stocks, he went on a vacation and let the positions ride. Two weeks later he had lost 70% of his trading capital. It was a pivotal moment: either throw in the towel or change course.

Diamond slowly morphed into a short-term technical trader, comfortable with both long and short trades. He incorporated options into his trading arsenal. After the CME introduced E-mini futures in 1997, they became his preferred day-trading vehicle.

In this book Diamond shares the MetaStock templates he uses to make his trades. Traders who don’t have the MetaStock platform can most likely replicate three of his four templates—the moving average template, the moving ribbons template, and the RMO template. But they won’t have access to the Bressert indicator, which is based on cycle analysis and shows trend direction.

Diamond is always on the lookout for the 80/20 trade, the high-probability setup. Throughout the trading day he reads the market with his indicators, asking (1) whether the indicators are flat, trending, or somewhere in between, (2) whether the moving averages are separating or converging, (3) whether any divergences between price and momentum are developing, (4) whether the indicators are confirming each other or are in conflict, and (5) what the next most likely 80/20 trading opportunity is. (p. 118)

Trading as a Business is a thin book, devoted primarily to describing and illustrating the four templates. But it’s a decent starting place for the would-be technical trader.

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