It's no secret that trading is extremely difficult. In fact, trading can be frustratingly difficult for the 90% of traders who strive to reach the seemingly untouchable goal of consistent profitability. However, in order to achieve the success of professional traders, you must study the habits and traits of professional traders. In essence, you must emulate the Pros in order to one day become a Pro.
As it turns out, professional traders share certain traits with elite athletes - traits that happen to form the foundation for what it takes to be a successful trader.
Did you know that Pete Najarian (@petenajarian), Eric Bolling (@ericbolling), and Jeff Kilburg (@TheKillir) were once elite athletes? They may even tell you that they still are. But these guys are just a few of the recent examples of highly successful traders that were first trained as elite athletes.
Here are the traits that they possess, and you should, too.
What separates Peyton Manning from the average guy throwing a football? Well, aside from sheer size and a rocket arm…it's practice. Countless hours of practice. Peyton Manning, like other elite athletes, spends countless hours in the film room, on the practice field, and in the weight room perfecting his craft. Even after winning the Super Bowl and numerous MVP awards, Manning continues to strive to improve his game each and every day.
By the same token, the most successful traders devote countless hours to study and practice, as well. Successful traders routinely wake up earlier than most to study overnight market activity, read the day's headlines, and review their trading approach for the upcoming session. They also review and study the day's activity after the closing bell, and develop their initial trading plan for the upcoming session.
While Peyton Manning reviews each of his throws from his previous game, successful traders review each and every trade, as well. While Manning practices the game plan for his upcoming opponent, successful traders develop a trading plan for the upcoming session. While perfection can never be achieved through practice, striving for such a goal can yield excellence.
Elite athletes, even at the high school and college levels, are forced into a structured environment by their coaches in order to improve their game. They wake up at the crack of dawn and are in the gym by 6:00am. By 8:00am, they're on the practice field. By 10:00am, they're in the film room, with another practice and film session looming in the afternoon.
It's the structured environment that forces otherwise undisciplined personalities to conform in order get the most out of their gifts and talents.
Likewise, successful traders are taught early on that structure is the quickest path to consistent profitability. In order to achieve trading success, professional traders are taught to be highly structured in their trading approach, which usually means managing risk, setting loss limits, and sticking to a trading business plan.
While we normally associate athletes with discipline, I don't think we really understand how disciplined they truly are. Michael Jordan started the "Breakfast Club" when he was with the 1990's Chicago Bulls in order to practice with his teammates before the team practiced with coaches. Not coincidentally, Jordan began this club the year before the first of his six NBA Championships.
Similarly, in order to become a successful trader, you must possess (or develop) the inner fortitude to do the things that lead to profitable trading. You cannot rely on anyone to push you. You must have the discipline to push yourself and stick to your rules.
Athletes are trained to win. To persevere at all costs. They develop a winning attitude early on - a competitive personality trait that usually lasts the rest of their lives. If the shot isn't falling and the game is slipping away, athletes are trained to adjust and overcome.
Trading is no different. You will lose money trading. You might even blow out your account a time or two. But you must continue to pick yourself off the floor, adjust, and seek victory. All successful traders have overcome and persevered, and they have the stories (and battle scars) to prove it.
Athletes are trained to keep their cool during adversity. Being level-headed when things aren't going your way is the only reliable path to giving yourself a chance to prevail. This is why it is not uncommon to see teams rally from seemingly insurmountable deficits to win a game. These teams were coached to be strong-willed in the face of adversity.
Professional traders must maintain their cool while trading, especially when the house is stacked against them. When they don't, they lose big. It pays to stay level-headed in the market.
Athletes are trained to perform in situations with utmost pressure. Practice and repetition helps athletes handle even the most intense, pressure-cooker situations. Why do you think football coaches devote so much time to the 2-minute drill with their offense (and defense) in practice? Through practice and repetition, athletes are trained to become numb to the intense pressure typically felt during live action, thereby allowing them to think and perform at the highest of levels.
Imagine the pressure of playing in a World Cup final, a Super Bowl, a World Series game, or an NBA Finals game. Millions of people watching your every move. Some players choke, but champions prevail.
Trading can be one of the most pressure-packed professions in the world. Floor Traders win and lose sums of money that are the size of mortgages - daily. Your ability to not only handle the pressure, but excel when the heat is on will help you become a successful trader.
Elite athletes don't become elite without great coaching. Even after winning three Super Bowls, Tom Brady continues to work with the same quarterbacks coach he's had since his days as a youth. In addition, Brady takes direction from his head coach, his position coach, his offensive coordinator, and even his strength coach. Probably most important, however, is Brady's willingness to continue to be coached, even after achieving so much in his sport.
Professional traders learn from the coaching of other successful professional traders. The best traders on the planet learned through the guidance of other seasoned professionals.
Like any worthwhile endeavor, education is everything. Education, whether through books, seminars, or one-on-one coaching, is simply a cost of doing business. Not only must you be willing to seek coaching, but you must be willing to accept direction, as well.
These seven traits keep athletes at the top of their game. But they're not the only ones who benefit from these traits. Virtually anyone who has reached the top of their profession possesses these traits. Rock stars, performers, celebrities, CEO's, figure skaters, military personnel, you name it, must posses these qualities in order to be the best at what they do.
And let's face it, professional traders are the best of the best when it comes to trading. That's why they're the 10%.
Give me your thoughts. Got any others traits to add to the list?
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In the webinar Ross Jardine will teach you:
Most of all you will learn how you can take advantage of the power of automated trading.
Check out this video clip from our new DVD from Fausto Pugliese, Controlling Fear and Greed: How to Reach Your Trading Goals.
Fausto shares his expertise on these easy-to-read charts, revealing the details you need to make a difference in each and every trade.
Watch it now!
A guest post from Dr. John Keppler, author of Profit with the Market Profile: Identifying Market Value in Real Time, now available from Marketplace Books.
We are now starting a new year; new beginnings are usually accompanied by optimism and hope. Yet, at the beginning of this year, I have received many e-mails and calls of distress from clients, students and friends. It seems that almost everyone is expressing serious concern and anxiety about 2012. The dire forecasts for this New Year include an actual prediction by the Mayan Calendar that civilization and the world will end in 2012.
Many financial analysts and pundits are also making some seriously alarming predictions about the financial markets. I have heard many theories about potential catastrophic financial events and some are postulating possible outcomes that would have been unthinkable only a year ago. Unfortunately, global leaders have not provided any words of comfort or optimism. They are not sanguine about the upcoming year. German chancellor, Angela Merkel, has warned that the year ahead will "undoubtedly" be harder than 2011. This is one of the most stark remarks in a series of downbeat messages from European leaders expressing fears over the economy.
Merkel said Europe was experiencing its "harshest test in decades" but would ultimately be made stronger by the crisis. Her solemn New Year greeting, broadcast on Saturday, set the tone for other European counterparts. The Greek Prime Minister, Lucas Papademos, spelled out a continuation of harsh austerity measures, while the Italian president, Giorgio Napolitano, warned that sacrifices would have to be made if the country was to avoid "financial collapse".
The French president, Nicolas Sarkozy, said people had to be "courageous" when facing the challenges ahead. "I know that the lives of many of you, already tested by two difficult years, have been put to the test once more. You are ending the year more worried about yourselves and your children," he said, adding: "This unprecedented crisis, which is without doubt the worst since the Second World War, is not over". However, Sarkozy, who is lagging behind in the polls just months from a presidential election, vowed that there were nonetheless "reasons to be hopeful" and that no further public spending cuts would be made.
In Italy, Napolitano was less eager to gloss over the economic position of a country, which last year was feared to be on the brink of becoming the next eurozone country to seek a bailout. "Sacrifices are necessary to ensure the future of young people; it's our objective and a commitment we cannot avoid," he said in his New Year speech.
"No one, no social group, can today avoid the commitment to contribute to the cleanup of public finances in order to prevent the financial collapse of Italy," Napolitano added. As growth stalls in countries across Europe, governments are coming under pressure to make further cuts to spending and fears are growing that 2012 could bring a second recession.
In Greece – the first country to have sought a bailout in 2010 – Papademos warned that there would be no let-up in the austerity measures, which many Greeks feel are too tough. "We have to continue our efforts with determination, so that the sacrifices we have made up to now won't be in vain," he said in a televised address.
In the U.S., reflecting on 2011, Obama said it was a time of great challenge and great progress for the U.S., including the end of the war in Iraq, the death of Osama bin Laden and signs of an economic recovery.
"There's no doubt that 2012 will bring even more change," Obama said. "And as we head into the New Year, I'm hopeful that we have what it takes to face that change and come out even stronger, to grow our economy, create more jobs, and strengthen the middle class."
In spite of this somber mood, the markets closed 2011 near their highs and opened the New Year even higher. A rather perplexing outcome considering the magnitude of challenges and problems that currently confront our planet.
Naturally, everyone wants to know if the markets will continue to move higher in 2012 or whether we are going to experience a dramatic pullback. In the last quarter of 2011, the markets have been characterized by uncertainty and increased volatility.
I anticipate that the markets in 2012 will continue to experience this same type of roller coaster behavior. The markets will likely experience powerful swings in both directions. Uncertainty and fear combined are both extremely powerful forces and contribute to highly volatile markets.
Trading these markets will require a high level of skill combined with a nimble and flexible approach. It is important not to become married to a single direction in these tumultuous markets; much like a roller coaster, the markets will dip and rise when least expected on news, events, and speculation.
Investing and trading in uncertain and volatile markets requires a constant focus on volume levels and a careful study of the actual volume breakdown levels for any traded instrument. Actual market activity will be the most reliable indicator of what is likely to happen rather than relying on the predictions or forecasts of pundits.
I am optimistic by nature and I feel that some progress will be made in handling some of the pending issues. However, I am also pragmatic and realistic about 2012. I know that there are going to be some unanticipated surprises and many unintended consequences for various actions, policies and events. Naturally, the market will reflect and factor these occurrences throughout the year. Stay informed, be alert and flexible. Do not become over committed to any one theory or prognosis for the markets.
Learn more about Dr.Keppler, his trading, and how to contact him by visiting his website www.strategictrading.net.
We also have a special offer on Dr. Keppler's new book, just for TL blog readers--check it out here.
It is that time of year again, time for the yearly countdowns! Here are the top 10 posts from the past 12 months. In case you missed them the first time around, here is another chance for you to grab some free knowledge from the experts!
Here's to 2012!
What: FREE Exclusive Webinar
When: November 16, 2011 9:00 PM EST
Where: Click Here to Register
We have an exciting new webinar and free report for anyone who wants to profitably swing trade stocks and ETF's! We've teamed up with the founders of MarketGauge who have over 20 years of trading experience including trading as floor traders and hedge fund managers. They are going to reveal powerful insight into how to catch low risk trades that profit from trends that move your way for several hours to several weeks.
Your first step is to register for a free webinar and complimentary PDF called ''The 3 Rules of Successful Swing Trading''. You'll receive instant access to the PDF and learn:
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Dr. Gary Dayton of TradingPsychologyEdge.com is one of the few trading educators to integrate technical trading skills with trading psychology. A Wyckoff expert and psychologist, Dr. Dayton shares his unique persepctive to teaching the Wyckoff Method for reading the market by its own action, and will do just that in Denver, Colorado at our Trading Forum during the weekend of October 21-23.
To learn more about Dr. Dayton's background and how he got into trading, psychology, and the Wyckoff Method, I asked him a few questions:
TL: How long have you been trading?
GD: I've been trading since 1999.
TL: What do you trade in your account?
GD: I have traded most instruments over the years--futures, stocks, and options. Today, I concentrate mostly on trading the S&P emini futures on a day and swing basis. I also trade some US stocks and ETFs.
TL: How did you get started?
GD: It was pretty random. I received a brochure from Ken Roberts back in 1999. I ordered one of his courses and became intrigued with the possibilities. That began this wonderful journey.
TL: Was there any one person who helped to shape the trader you are today?
GD: That would be David Weis. I met David in a seminar several years ago. We developed a relationship discussing the Wyckoff Method and he utlimately became my teacher and mentor. I worked with David for quite a while and still consider myself his student.
TL: Has there ever been a book that profoundly affected your trading?
GD: Richard Wyckoff's courses on trading have highly influenced my trading, especially his case study of the 1930-1931 market (a chapter in his stock trading course). His book, Studies in Tape Reading, has also been a great influence.
TL: If you weren't a trader or trading educator, what do you think you would be doing?
GD: I am also a psychologist so if I weren't trading, I would spend more time working with others on the mental side of performance enhancement.
Don't miss Dr. Dayton's presentation about the powerful possibilities of trading with the Wyckoff method, PLUS some expert insight on the psychology of trading. For more information and to register, visit www.tlforum.com. See you there!
*All rights reserved. Reproduction or distribution of this newsletter without prior consent is strictly prohibited.
September 15, 2011
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There are plenty of reasons as to why traders should be bearish Treasuries but the most glaring being nearly non-existent interest rates and stabilizing currency and equity markets. Nonetheless, Treasury seasonals suggest the market could avoid any large selling until much later this fall. Also, although recent economic data has been better than the previous month's it is still generally below expectations and quite frankly, poor.
Similarly, it sounds as if a much larger than expected Greek tax hike could trigger another round of riots and protests. In the past, visions of Greeks in gas masks violently destroying property in Athens has been perpetually bullish for Treasuries. The thought process is that the unrest (and more importantly debt issues) will be contagious throughout Europe. In a world in which U.S. markets have been celebrating each positive headline out of Europe, a negative one such as this could quickly change the climate. For this reason, among others, we are taking a neutral stance over the next few sessions
For those of you that aren't aware, I spent a few weeks in Greece over the summer (ironically during the now infamous riots) and it is certainly vulnerable to some unrest. Without judging their culture or circumstances (which are challenged), I can' comment on facts. A majority of the Greek citizens don't pay, or pay very little, taxes, and many businesses practice aggressive tax avoidance techniques (such as cash only transactions under the table). On the other hand, entitlement programs are plentiful and so are governmental employee strikes (and yes this includes utilities and many forms of transportation). The point I am trying to make is the transition into austerity will not be an easy one and there could easily be negative headlines coming around the corner that could temporarily spook investors.
Yesterday we were looking for a move to 138'06 in the long bond and the mid 129's, for the most part we got it. However, tomorrow we see some risk of counter-trend Friday buying. Accordingly, we feel like the bears should lighten the load in hopes of "reloading" at better prices at some point in the near future.
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We recently received this question from a reader called Pravin as a response to this post.
"I often find that when I place my stop loss just below the support line say, the price seems to form a candle with a long tail wig to take me out. Is the broker able to see my stop and playing games with me? This happens even when my stop loss is several pips away from the support line."
Pravin's question about stop losses prompted the following, a thoughtful response on one of traders' most important tools from the Director of the Strategic Trading educational program and the Chief Analyst for Your Trading Room (YTR), Dr. John Keppler.
One of the most common reasons that cause many individual traders to lose money in the market is the way that they use their stop loss. The basic purpose of a stop loss is to help manage risk and protect a trader when a trade starts to move against them.
Unfortunately, all too often the stop loss is the primary source of losses for a trader. Even when they have correctly identified market direction, the market takes out their stop only to reverse and continue in the direction of the original trade. Some blame this frustrating experience on their broker; others blame the market makers or professional traders that are simply gunning for their stops. However, the true culprit is an efficient auction market.
The major problem with stop losses is that many traders place their stops in the same zone. These stops then appear as sitting orders on the exchange; naturally, an efficient market should fill as many orders as possible for both buyers and sellers. Once the market finds a large cluster of orders on the books, it needs to fill them. As matter of fact, the auction market would not be functioning efficiently if it abandons large clusters of orders and leaves them unfilled. The auction market must move in the direction of where the orders are to be found. A large cluster of stop orders is basically screaming at the market to be filled. Once the market fills this large cluster of stops and there are no more orders to fuel the market in the wrong direction, it now becomes time for the market to move back in the direction of where the other orders are sitting, waiting to be filled. As a result, the dynamic auction quickly adjusts and starts to move back in the direction of where the volume and orders are found. The market is simply doing its job; it’s filling as many orders as it can for buyers and sellers.
Regrettably, once a stop is hit, the psychological impact of the loss keeps may traders on the sidelines and does not encourage them to participate in the directional move once it starts. There are a number of alternatives to tackle this problem. Each of the alternatives has its advantages and disadvantages. One possible solution is simply to overcome the psychological barriers and to develop the stamina required to enter the market again once the market starts to move directionally after taking out your stop.
Another, alternative is to use a wide stop. A stop that is away from the usual zone of where most stops are placed. This requires more experience on the part of the trader, first, it requires a trader to be able to identify the potential stop cluster zone and more importantly, it also demands that the trader be able to distinguish between a market that is temporarily moving in the opposite direction and a market that has in fact changed direction. If the direction of the market has changed, the wide stop must be moved quickly to terminate the trade before the losses mount. Some choose to trade with what is called a “mental stop” along with an actual wide stop. The wide stop is immediately decreased to the mental stop level if the mental stop level is reached. This approach requires agility and a cooperative market. If the market is volatile, it is extremely difficult to properly implement this technique.
The issue can also be mitigated with an adjustment in position size. A trader may initially start the trade with a small position and a wide stop. This decreases the potential loss amount if the stop is triggered and allows the trade more room for fluctuations. Once the market starts to move in the desired direction, the position size can then be increased with a greater level of confidence. The wide stop can also then be decreased and a trailing stop can be used to lock in profits.
Using and managing stops are both important skills that are cultivated with education and experience. The most dangerous and risky of all alternatives is to trade without any risk management in place. There is an art and science to the placement of stops. A stop should never be arbitrary, it should be determined based on the instrument, the individual’s trading style, trading goals, and risk tolerance.
For more from Dr. Keppler, visit www.strategictrading.net. And be sure to keep an eye out for his new book on the Market Profile to be released Fall 2011.
Yesterday, our book published in conjunction with T3 Live, The Modern Trader: Wall Street Traders Reveal Their Formula for Success, was reviewed on the Reading the Markets blog. Written and published by Brenda Jubin, Reading the Markets is a great site for information on the best trading education material out there. A philosopher, trader, investor, and book lover, Jubin is the source for information on financial literature, and we are thrilled to have received such positive feedback on The Modern Trader. Thanks, Brenda!
Check out the review here.
...can be quite difficult," admits Jeff from St. Louis, when I asked him, one of our most dedicated blog readers, what drew him to his favorite traders and why. Below is the rest of his insight in which he shares what works for him as he continuously educates himself in the markets.
Thanks to email and the internet, there are far more potential sources of information and learning available than a person could ever assimilate in a lifetime. I do believe it is helpful to listen to many different viewpoints and approaches, not because you can or would ever want to emulate all those strategies, but rather because they help the trader to look at his assumptions and biases in a new light. Education is a continual process of taking in new information, critically examining it, keeping what works, and ignoring the rest. The key is to realize that what works for someone else (no matter how successful) may not, and probably will not, work for me.
The approaches that work best for me (and hence those educators I pay most attention to) are those few that fit my personality, trading style, and world outlook. But the way to find those few is to at least expose your self to multiple points of view (something Traders' Library is very helpful with!) How to know when it's a good fit? It will feel right, be unforced, and will be fun (of course if it grows my wealth, it will be even more fun!).
Thank you so much for sharing your thoughts, Jeff! (and for the shout-out :) ) Hope this info, along with this post, are helpful to all of you searching for the right trading educator who can help you get to the next level. Best of luck; happy trading!
On the first day of U.S. trading since Standard & Poor’s downgraded the U.S. credit rating, stocks slumped in response to the uncertainty this unprecedented move brought to traders and investors everywhere. Yesterday, the market seemed to rally back up after the Fed’s interest rate announcement. Today it appears that stocks are moving downwards once again., and that is nearly impossible to predict what will happen day to day, much less in the long term.
On days like these, traders are looking for guidance. But where do you turn for answers at a time like this? How do you choose the advice you put to work?
Choosing the right trading educator to rely on and risk your money with can be a daunting task. The marketplace is flooded with scams that end up taking advantage of many under-educated would-be traders. However, when you can find the right people to learn from, your success in the market can truly improve. But with so many options available, how do you choose the right trading educator?
We asked some of our most devoted readers on the Traders’ Library blog to let us know how they choose the educators that they follow and learn from. For Monty from Maryland, there are two types of trading educators he looks for—the first, an educator who trades close to his own plan.
Do you have your own trading plan that you follow to ensure consistency while in the market? Experts across the board will tell you that having your own trading plan is one of the most important elements of successful trading. Creating and developing your own plan is important to ensure that it works with you and your trading style. You cannot simply rely on an expert to hand you a plan that works flawlessly, but any trading coach worth his mettle should help you to develop a strategic plan that works for you. Choosing an educator with whom you share a similar approach to the market can help you improve trades you are already in or are planning to make, but you must have your own style and plan before this helps you.
Secondly, Monty looks for a trader who has a solid success rate with what is currently working in the market. An educator who has a high success rate in current market conditions can give a trader valuable insight into timely trends and help to take advantage of those immediate opportunities at the right time.
Last but certainly not least, one of the biggest factors that Monty looks for is a personal touch. For him, an educator who is willing to work with you and get fully into the nitty gritty to make sure you understand exactly what they are teaching is well worth the time and money that he spends. He wants his educators to be in the market, doing the work alongside him instead of just yelling from a distance what looks like could be the best moves. He looks for someone who can warn against what not to do just as much as they guide you to make those good moves, teaching you about the dangers of trading against advanced technology that can “chop your profits to death if you don't enter your trades at or near order flow.”
For this trader, it’s also key that his educator’s website is easy to maneuver with tutorials and tips to help you when studying. He warns that something to watch out for are the free trials often offered by such websites. Since it almost always takes longer than the trial to fully understand the trading method, a free trial sounds great but is not always your best option. TheseiInteractive websites are some of the most helpful tools available to traders learning to improve their skills, but finding the one that works with you is essential. If you don’t understand an education platform, give yourself the adequate time to acclimate yourself before making a commitment. There are plenty of trading platforms out there, and finding the right one can really make a difference in the success of your trades.
These tips are from just one trader’s opinion on what makes a great trading educator, but what really matters varies from trader to trader.
What do you look for when choosing a trading educator?
Do you agree with Monty’s criteria, or have some of your own?
An excerpt from Winning Methods of the Market Wizards e-Guide to the video seminar by Jack Schwager
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.
After a dramatic day on Wall Street yesterday, "what now?" is exactly what many traders are wondering. I turned to some of our trading experts and educators for their take on the situation, and asked them how traders should respond to an event like Thursday's market drop. Kerry Given, better known as "Dr. Duke," founder of Parkwood Capital and author of No-Hype Options Trading was kind enough to share his thoughts and advice:
When the market drops like it did Thursday, it throws Homer the trader into an emotional tailspin. Homer starts to play out disaster scenarios in his head. And then he begins to develop a rationale for why the market will pull back and allow Homer to salvage his position--he is building the case for hope. In all of these cases, Homer is allowing his emotions to cloud his thinking. These times test whether we have a trading system, i.e., the set of rules whereby we enter, adjust, and exit our trades, and more importantly, am I following my system? Disciplined adherence to one's trading system will strengthen emotional control and helps traders to think clearly during these market crises. More importantly, traders will minimize losses and be in a positive frame of mind to recognize and capitalize on the opportunities that will inevitably exist after the storm passes.
Scott Redler, chief strategic officer at T3 Live, went live on CNBC Asia last night to discuss the specific stocks he is currently following, his strategically disciplined investment approach, and his new book, The Modern Trader.
In the book, Scott and his partners at T3 Live share their improbable and inspiring stories and the trading lessons they've learned along the way, illustrating the necessity of adaptability in today's modern markets.
Check out this clip to find out why Scott's chapter is called "The Workhorse..."
and click here to learn more about the book!
What genius lies asleep in your brain?
This is the question asked of us by Napoleon Hill. Originally published in 1937, and selling more than 60 million copies worldwide, Hill’s Think and Grow Rich is the classic motivational book. Inspired by Andrew Carnegie, Hill studied the work and lives of some of the most successful people of the Industrial Era including Ford, Wrigley, Eastman, Rockefeller, Edison, Woolworth, Burbank, Morgan, and Firestone—as well as three United States Presidents.
From his 20 plus years of research into the characteristics of what launched these individuals into greatness and wealth, Hill developed his 13 universal principles, meant to inspire any individual to a richer, fuller life. The true genius of his writing is the simple way in which he explains that wealth comes from seeing your goal in your mind and making it happen, no matter what.
From one of our very own blog contributers!
Vervoort's system, “LOCKIT,” introduces you to a number of special indicators and techniques for a more successful application of technical analysis like:
· a practical Elliott Wave count indicator to help you estimate the direction of price and to create price targets,
· a Heikin-ashi Bollinger Bands %b indicator to show actionable divergences in price,
· Vervoort's brand new, proprietary indicator SVAPO (“Short term Volume and Price Oscillator”) with programming code,
· optimized ATR trailing stop methods to protect gains,
· specific money and risk management rules to keep you profitable,
· and much more.
On top of all this, Vervoort's book comes complete with Metastock code for all of his indicators and technical trading techniques. There is a CD included to get you started right away!
BE SURE TO CHECK BACK FOR 1-8!
We have add some great success with our new relase The Modern Trader (it was #1 on Amazon Kindle under Stocks for a week)!
Here is a quick glimpse into the book and the guys of T3 Live!
In this instance, the fit was perfect. Usually, it takes time to identify how someone’s strength will mesh with another’s. At the time of this first meeting, Sean Hendelman and Nadav Sapeika were partners at Nexis, a trading firm with a very strong training program and many skilled young traders, as well as an extensive blackbox trading business. Marc Sperling, Scott Redler, and Evan Lazarus were the partners at Sperling Enterprises, a trading firm with many older traders who were some of the heaviest hitters on the Street. Each firm had a core competency that drove its consistent success, but neither had the full package. Something was missing.
At Nexis, Sean and Nadav had worked tirelessly to develop the highly successful training program that boasted a much higher than average industry retention rate for new traders. In a business where only close to ten percent survive more than a year, close to half of the traders under their tutelage reached profitability. The program was thorough, but only incorporated a narrow school of shorter term scalp trading. More content and credibility was needed to take it to the next level. They dreamed of a comprehensive training program backed by a well-established trading firm. Sperling Enterprises was the perfect match.
The synergy between the two organizations was apparent from day one, and it was easy for all parties to come to an agreement later that same day. After achieving consistent success training new traders, Nadav and Sean sought a way to channel the program into something that could be made available to a broader audience. The trading floor is a unique and exciting environment. The most successful firms foster a sense of teamwork and camaraderie that facilitates good, disciplined training. Traders work together, sharing stocks in play, noting ones that are at important levels and calling out those making moves. Veterans mentor young traders. Everyone shares analysis and ideas, making information available for eager traders to learn and improve their skills.
Plus don't miss out on his brand-new DVD Cash In Instead of Getting Crushed: New Market Patterns for Active Traders! You can Pre-order your copy now!
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