Archives of “key concepts” tag

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Excerpt from Winning Methods of the Market Wizards

  
  Education
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Chapter 2: Hard Work

I am sure that the theme of this chapter comes as no surprise to you. We all know, (or at least most of us do) that to get anywhere in this life, no matter what your field may be, it is going to require some hard work along the way. There can’t be a harvest if you haven’t worked in the fields. And no where is this concept of hard work more evident than in the professional traders I have come to know over the years.

What is striking to me about this group of super-traders, the Market Wizards, is how almost every single one of them is a genuine workaholic. For these people, the level of commitment and dedication to trading is absolutely amazing, and it has engendered in them a performance level so intense and so consistent, it almost boggles the mind. When you look at these individuals, you find the kind of hard work that is almost inconceivable for most people to maintain even for one day, never mind as a lifestyle. But it is this difference in personality and commitment that makes the Market Wizards who they are, and accounts for much of their high levels of achievement.

In order for you to get a real sense of the kind of hard work we are talking about here, I think I should describe for you a couple of individuals and how they work. This will give you a good idea as to how intensely passionate they are about their pursuits.

 

David Shaw

David is a private, almost secretive individual, who has been running a very successful hedge fund for many years now. Basically, his fund is a very sophisticated form of arbitrage. Over the years, it has posted excellent results. (more…)

Trading Wisdom Via Linda Raschke

  
  Education
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It’s important as a trader to always be studying and sharpening your skills. Here is a short video jammed packed with concepts from Linda Raschke that all traders can use in their trading plan.
Key concepts from the video:

  • The fewer decisions that you can make during the trading day, the better off you will be.
  • All exit strategies should be based of your initial entry.
  • 75% of trades test out best by taking your profits quickly.
  • Shorter the time frame, the less justification for trailing stops.
  • Trend followers often pay up to ensure they get a position.

 

Just a Trade a Day

  
  Education
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Michael Jardine’s latest book focuses on simple ways to profit from predictable moves in today’s financial markets…

In today’s financial climate, many traders are finding the markets difficult to navigate. With the volatile swings seen over the past weeks and months, it is increasingly difficult to predict where the market is headed and even harder to make a profit day after day. Emotion and inexperience trading in today’s market conditions can lead some to overtrade, trying to gain back the losses suffered throughout this current economic downturn.

In the latest trading title from niche finance publisher Marketplace Books, Just a Trade a Day: Simple Ways to Profit from Predictable Market Moves, traders are introduced to Michael Jardine’s newly developed methods of making market predictions–and profiting—making just a single trade each day.

The author of New Frontiers in Fibonacci Trading, Jardine has used his extensive background in Fibonacci theory to build an easy-to-use trading system. In clear-cut terms, he teaches traders how apply the Market Profile™ and Points of Control to determine how today’s market environment will best produce with their own particular trading style. By giving readers real-life examples from his very own life experiences building this system, Jardine proves the success of this system.

Michael Jardine has been trading, teaching about trading, and blogging about trading on his web site, Enthios.com, for over twelve years. His first trading book, New Frontiers in Fibonacci Trading, was published in 2003. Now, seven years later, Jardine has come back with a combination of his own Jardine Range and what he has dubbed the “Universal Chart,” to find that one trade a day is what all traders are looking for. Jardine has held many positions at a number of marketing-oriented companies including, Chanel, Walt Disney, and Patagonia. He has also created a highly informative video presentation to optimize your trading profits and gain more trading confidence.

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