Trading Ideas Worth Sharing.
Cheers Mate, one party is over and the next one is here already. Happy Australia Day January 26.
The two native Australian animals used in shield, the red kangaroo and the emu, are the only two animals in the
world that do not walk backwards. This symbols speak volumes about the nation and its people.
Big Dog Day Trader, The strategy brokers love to hate. Open code now available
for Bronze Members and higher only.
I outline the robust methods used in the development of the strategies. Locked code is available to general
members, only bronze members and higher have access to open code and
TraderAssist® Forum and Inner Circle. “Talent wins games, but teamwork
wins championships” and its TraderAssist® that makes the fundamental difference in technical trading!
This forum was established to push up the quality of our chosen field. I
view our new forum as an association of apprentices, journeyman and
craftsmen. My goal in creating the forum is to help traders build a
business by openly sharing indicators, strategies, platform briefs, gaming
theory and exercises to improve objective behavior.
It is my view that the only thing the Wall Street and LaSalle Street
insiders have that most traders do not is “infrastructure.”Most traders do
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The TraderAssist® Uncommon Sense Ways to Increase Your Chance of Success Trading Futures
_1. Don’t treat it like a job! _ You are creating a business, not a job for
yourself. A business continues to earn money even when you are not “hands“
in it, while a job does not.
Don’t be a lone-wolf. To build a company you need to be able to share
responsibility, management, risks and rewards with your business partners. A
good company is built on good management teams. My personal philosophy is to
always have a partner or right– hand man in everything I do, to share the
load. The vast majority of us that get into this game are mavericks, rebels,
ego maniacs and control freaks. But that is in direct conflcit with the type
of behavior needed to win. A succesful trader needs to build trust and
share. Stop being greedy, a smaller percentage of profits is better than
100% of all the losses.
_2. Know what you don’t know!_ Identify your skills and areas where they are
lacking and resource the areas where you are limited out to fill the gaps.
Like Clint Eastwood says “A man has got to know his limitations.
_3. Enlist and recruit people_ that are not only better than you but who are
good in their area of specialization. It’s easy to say but tough to do ,
avoid the “pretenders “at either extreme, the “yes” man, who does nothing
but blow smoke and the nay sayer who is nothing but a critical, not a doer.
_4. Cash Flow Is More Important Than Your Mother._ Lack of cash kills
companies. Make sure you have enough cash to get you through the first 6 to
12 months. If you are trading for a living, keep your full time job until
you build up some trading profits. If you are trading to supplement your
earned income, no difference, keep working until you have horded a good pile
of cash. I can hear the mavericks and “Top Guns”out there without a wing
man, wanting to be on their own and be there own boss. You need to believe
me, next to the trading exchange or team you create your pile of cash is you
next best friend. Generally I would say I want my traders to see at least a
50% gain in capital, if not a double, before they consider quitting their
job. If you are out of work due to the WFC, you have worked and this is the
key, you have saved money, then you probably have enough financial skills to
manage your own business and work it into a positive cash flow situation.
If you are playing with housekeeping money, the odds are stacked against you
as trading will bring out the faults in your personality.
_5. Set a goal and take action._ When you know where you want your futures
trading account to be in 5 years you can plan how to get there from day one
and you have a real chance to get where you want to be. With no defined and
documented goals, how will you track your performance, drive your business
and know when you are on target to reach your goals or not? Envision your
success and keep your focus on it.
_6. Key on a team effort,_ you will not need to put in long days, don’t be
lazy, and work smart. Do not expect everything to run smoothly or always go
to plan. Be flexible with your thinking, but also be prepared to beat the
odds and succeed when all signs are pointing to defeat. _“Remember
nothingcan take the place of persistence. Talent will not; the world is
full of unsuccessful people with talent. Genius will not; unrewarded genius
is almost a proverb. Education alone will not; the world is full of
educated derelicts. Persistence and determination alone are omnipotent.”_
_7. Take profits off the table, don’t be greedy,_ be smart, take
profits when you hit a goal, salt some of the profit away in other
_8. Take manageable risks _– not wild bets.Takes manageable risks, where
they can influence the outcome, not wild bets, where their result is a
random uncontrolled event.
_9. Most of all, have fun _and enjoy the trading, have a passion for it,
unless you do you will not last long.
Great and Many Thanks,
Jack F. Cahn, CMT