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Traders who use Median Lines to find ranges within which they can trade seem to be the new hot item. I'm talking to traders every day who are finding it to be a very reliable tool for finding levels where a security (or currency, in this case) will find support and resistance. But this is no "fad indicator." Median lines have been around for years but several high profile traders such as Tim Morge have done a lot to prove their effectiveness. Here we talk with professional currency trader Greg Firman about how he uses this tool and why recent changes in the regulations have forced him to make serious change in his accounts.
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"I never trade with time-based charts." With that statement, I had to ask why since 90% of traders out there use only time-based charts. It's not often that you find a trader who loves trading the Russell Emini and bond futures contracts. Our interviewee does exactly that and quite successfully. Here TJ talks about why he never relies on time-based charts that most traders use, the type of tick charts he uses to spot opportunities, and they system he utilizes to catch reversals and pullbacks in the markets he trades. He also talks about what he means by the "power of quitting" and how it helps him decide when to stop trading for the day. TJ then talks about how he divides up his day and why he avoids trading the S&P Emini market specifically.
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Market Value Profile is something I'd been hearing more traders using so I wanted to find a trader using this strategy and ask how it works. Justin Maciuk, in addition to having a successful eBay business, is a trader who finds opportunities in the S and P Emini using market value profile. Here he talks about the things he watches including a specific number on the Tick, a volume-based indicator and certain candlestick chart patterns. He talks about the software and broker he uses and why he waits for a specific setup to occur before he takes any trade of size.
The strategies that top traders use to make money in the markets aren't complex. Most have found simple ways to spot opportunities and continually exploit those patterns to make money each day. In this episode, we talk with a wealthy trader about how he does exactly that. John Gilner describes to me the exact candlestick patterns he is watching for and how he scales in and out of his positions to get the maximum gain possible. His straightforward approach is one any trader can understand and replicate for their own accounts. John uses both short and longer-term timeframes to find stocks that are ready to break through a specific level on volume. He then talks about how he determines his entry points and stop losses. Finally, we discuss his trading discipline and the two things he thinks made all the difference for him when he was working to gain confidence in his trading abilities. A fantastic look inside the mind of a trader who has achieved a high level of success through hard work and common sense.
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Using Median Lines and Pitchforks, trader Tim Morge has been able to see many of the major market moves since 2007 and uses them almost exclusively for short-term trading. Here Tim talks about how he uses simple median lines to determine his profit targets. We also discuss how use uses Median Lines accompanied by a pivot point to set very accurate stop losses that help give him enough time to be right in his trades. Tim also discuss the three things he watches to get a feel for the market's mood how he uses these three things to find high probability trade entries. Finally, we talk about the things he believes have been critical to his 38 years of success in trading.
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Determining the strength of any trend is an important part of finding trades based on the continuation of that trend. But how do you spot the strength of a trend in a chart? Successful trader Ken Chow tells us in this interview how he does exactly that. Ken talks about how he sees the "skewing" of a candlestick chart to determine the strength of a trend and how he finds "measured moves" on a chart to tell him where to buy. We also discuss how he determines how much risk is in a potential trade and how he determines the percentage pullback on a chart to find a great entry point for any trade. We also talk about why he approaches the market from a "Zen-like" philosophy and the way he measures his success in the markets. Ken also talks about a great trade he had recently and also a "not-so-great" trade and what he learned from both.
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ETF (Exchange Traded Funds) trading strategies have become more popular in the last couple of years, but why? And what's working best in these market conditions? In this episode we talk with ETF trader Deron Wagner who discusses how he uses trendlines, moving averages and volume patterns to spot opportunities in the markets. He also tells us how he uses Relative Strength (not RSI) to spot changes in trends. Specifically we talk about how he finds trend reversal breaks and how he confirms if it is a true reversal or a simple blip in a continuing pattern. Deron discusses a specific ETF trade he made recently and what he learned from the outcome. We also discuss how he finds profit target levels and where he sets his stop losses based on specific criteria. Finally we talk about how he manages risk and the amount of capital he will risk on any one trade.
Trading with Pivot Points and Specific Moving Averages
Specs: 36 mins, 40 secs | 16.8 MB
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I've spoken with several successful traders in the past thirty days that focus exclusively on pivot points to find entry and exit levels in their trading. Mark Moskowitz tells us in this episode exactly how he calculates and uses pivot points, combined with very specific moving averages, to find consistently profitable trades. We also discuss the chart timeframes he follows and how be became better at using tape reading to assist him in predicting short-term moves. Mark also talks about how he uses leveraged ETFs to take advantage of market moves. Finally, we discuss the homework he does to prepare for the following trading day.
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Remaining patient while waiting for the right trade setups to come along is not an easy task when those setups occur only 1-3 times per day. But that's exactly what trader John Paul does and does extremely well. As an S&P Emini trader, John tells us the timeframes he works on to find those trades and the "special" number he's watching for during the trading day. I ask him what his "perfect setup" looks like and how he sets his profit target and stops. Speaking of stops, I was floored when he first mentioned where he sets his! We then discuss the software he uses (and raves about) that has helped him become a successful trader and why he never uses indicators. Finally, we discuss how he developed his strategy by listening to his friends who are floor brokers and he tells us the only things that professional floor brokers watch and have faith in as their guides in trading.
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Knowing when to take your profits is always a difficult decision, even for veteran traders. In this interview, we talk with stock trader Andy Lindloff about a very specific way he decides how much of his profits to take out of a trade, while still leaving room for more upside should his position continue to run. We also discuss how he scans the market in the morning and ways he finds individual stocks to trade that day in hot sectors. Andy also describes the charts he uses and the simple moving average that, when combined with a certain behavior in volume, has provided great trades for him time after time. Finally, I ask Andy to describe his ideal trade - one that he would have to take if he saw this setup. He describes what that setup would look like on a chart and how often it occurs.
Combining Elliott Wave and Price Action for Swing Trading
Specs: 31 mins, 36 secs | 14.5 MB
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Most traders believe that in order to make a living as a full-time trader, they have to be trading all day every day in order to make the big bucks. This interview proves that's not the case. Dave Floyd is a successful full-time independent currency trader and money manager who makes just 5-7 trades per month. His strategy is an interesting combination of watching both Elliott Wave and simple price action to determine where his entry and exit points will be. He admits he is an extremely patient trader, waiting until just the right moment to enter a position. We talk about his "ideal trade" and why he trades using three very specific timeframes. We also discuss why he thinks looking at Fibonacci applied to time is just as important as applying it to price. We also discuss the one odd currency pair he trades almost exclusively, and the advantages that particular currency affords him.
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You've heard a million times that trading is all about mental discipline. In this interview with, we go way beyond the "cut your losers fast and let your winners run" simplicity. Dr. Doug Hirschhorn is a trading performance expert known for his straightforward talk on CNBC, The Today Show and The Big Idea with Donny Deutsch. Here we talk about what his successful clients have done to develop an iron-clad confidence in their trading abilities and why judging your success purely by how much money you make trading never works. He explains how the best traders he sees use a different metric, thereby making a lot of money as a byproduct! We also discuss ways to find a market that fits your personality and the best types of books traders should be reading. Hint: they aren't books about trading strategies!
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AJ Brown is a full-time options trader in his late 30's who first investigated trading after a financial planner churned his account with numerous transactions and had very little to show for it except a big commissions bill. Here we talk about how he uses option spread strategies to capitalize on what he calls "trend continuation after a burp." We discuss the types of options he buys and sells, what expiration month he uses and how he decides what strike prices to buy and sell. We then talk about the things he uses for confirmation of his "time to trade" moment - a specific crossover of moving averages and specific numbers on both Williams % R and slow stochastics. We then discuss why he focuses exclusively on options as his trading vehicle of choice and how he determines what stocks and options go on his watch list.
Combining Fibonacci and Elliott Wave Trading Strategies
Specs: 38 mins, 23 secs | 17.6 MB
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Todd Gordon is a highly profitable foreign currency trader who has been trading full time for several years. Todd talks about his trading strategies in a very matter-of-fact way and will be the first to tell anyone that trading is hard work. However, he has found a strategy that combines elements of both Fibonacci and Elliott Wave to trade forex confidently. Here he talks about his winning percentage and why he is comfortable keeping at the current level, how he gets in on the direction of the trend and finds key levels of support and resistance, and the 13 patterns he has found that make up the basis of his entire trading strategy. We also discuss why he refers to himself as a "Pre-planned Trader" and what he does each evening to prepare himself for the next trading session. We also talk about how trading currency suits his personality and style and the one trading blunder that he will not allow himself to make.
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Nearly all of the successful traders I have spoken with this year have mentioned they were forced by the market to make changes to their base strategies in order to stay on track for their profit goals. Jeff White is an experienced full-time trader who tells us here the types of changes he made in order to keep up with current market conditions. He tells us his number one focus as a trader, the ways in which he finds where buyers and sellers have placed their orders using simple charts, and why he has a core and secondary watch list. Jeff also names his favorite patterns and describes exactly what they look like in his favorite timeframes. We also talk about where he sets his stop losses and why he is perfectly satisfied getting stopped-out frequently in his trading. Finally, we discuss his monetary goals and how he pays himself during the year.
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Daniel Jackson aka @AtticManTrader on Twitter, is a trader in the UK who focuses on UK stocks and occasionally other country equities as well. First thing you'll notice is that traders anywhere in the world all have the same challenges, learning curves and wins when it comes to trading - regardless of what security, exchange or market on which they focus. Daniel talks about the foundation of his swing trading strategies and why he watches longer-term charts for trends and shorter-term charts for execution. We also discusses how he finds stocks that are over-extended or bottoming and the types of candlesticks he looks for that indicate a trading opportunity is nearing. Daniel candidly discusses he weaknesses and strengths and how he has learned to use both to find success in the markets. Finally, we discuss the types of support and resistance indicators he uses and why he had to make a quick change to his strategy late last year. Find out more about Daniel at: http://atticman.blogspot.com
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Avery Horton uses a variety of strategies to make money trading including "dynamic support and resistance" and "reverse hourly strategies." Here he explains how those strategies work and why he's built trading signals to help him find opportunities in the markets. We also discuss his "buy zones" and why they enable him to take advantage of statistical trading to make money on a consistent basis. He discusses a few of his favorite charts and timeframes and a new strategy he is using now that he refers to as "draining the banks." He explains how that method works and why it has been so consistent over the past few months. I'll admit I was a bit skeptical about the strategy, but after Avery emailed me a charts and spreadsheets, it's an amazingly simple strategy that can work on any size account.
Trading With Fibonacci Retracements and Extensions
Specs: 40 mins, 50 secs | 18.7 MB
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In this detail-packed interview, I speak with successful private trader David Buffalo. We discuss how he uses Fibonacci ratios to establish price levels the one extension level he uses to find profitable trades over and over again. We discuss why a "complete price leg" is a critical signal for him and how he uses neural net software to find patterns he can recognize to find explosive moves. David talks about the one indicator he uses and how he has adjusted it slightly to include another indicator to draw a complete picture of the index, ETF or stock he is trading. Finally, we discuss his very specific way of setting his stop losses and how he adjusts them if needed. We finish by discussing how he sets goals for himself and measures his personal success in the markets.
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Peter Farmer is a highly successful independent trader who has developed a unique style for finding profitable trades. In this episode, I talk to Peter about how he trades using a combination of news and technical analysis. You'll be surprised by how he weights one over the other when it comes to his decision-making skills! We also discuss a lesson he learned from a trade in Silver a while back and the changes he made to his strategy because of that single trade. Peter also discusses why he would never trade from home and instead prefers to be in a room filled with other traders during market hours. He then describes his daily routine, his trading entity and how he pays himself, and why many traders he talks to disagree with him about how he places his stops for every trade.
Trading Short-Term Sentiment and Providing Liquidity
Specs: 21 mins, 40 secs | 10 MB
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Here's a bonus interview for this week. Not as long as our regular premium interviews, but I think it's interesting insight into how a professional trader approaches the markets. Listen to a few successful independent traders and you'll start to hear a common theme. Top traders "provide liquidity" to other traders by taking the opposite side of their trades. Translation: every trade you lose on, they make money. In this interview with pro trader and former Marine John Netto, you'll hear what he means by providing liquidity to the markets and how he finds "stick points" in the market where short-term trends are about to change. We also talk about how he "fades short-term sentiment" and "buys long-term sentiment." John also tells us the software he uses for charting and execution and how he uses "Delta hedging" strategies on nearly every trade to bring his risk to nearly zero.
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Spread trading is becoming more popular with short-term traders these days. When two securities that normally correlate well don't for a short time, it is an opportunity to short one that is overvalued and go long the security that is undervalued. Finding these discrepancies in two equity indices is what trader Patrick Hemminger does very well. In fact he makes his living trading only this strategy. In this program, you'll hear how a professional spread trader executes his craft. You'll learn the two equity indexes he mainly trades using his strategy, how much money he expects to make on each trade, and how he finds "areas of interest" on daily charts to find trading opportunities. You'll also learn what software he uses for charts and execution, and the timeframes he uses every day. Finally, you'll learn why he things "anchor charts" are critical to his trading.
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Many experienced traders watch just price action and volume to get a read on the markets and find trading opportunities. Trader Stewie is especially adept and using price and volume to find profitable trades. In this interview, Trader Stewie talks about the chart timeframes that are his favorites and how he watches them to find the optimal entry and exit points. We then discuss his trading size and why he has adjusted it since January. The inverse ETFs allow traders to capture two or three times the market volatility and Trader Stewie talks about how he trades these securities and the financial / banking stocks. We also talk about the homework he does in the evening and how he prepares for the next day's action.
Trading With Fibonacci Retracements and Extensions
Specs: 40 mins, 50 secs | 18.7 MB
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In this detail-packed interview, I speak with successful private trader David Buffalo. We discuss how he uses Fibonacci ratios to establish price levels the one extension level he uses to find profitable trades over and over again. We discuss why a "complete price leg" is a critical signal for him and how he uses neural net software to find patterns he can recognize to find explosive moves. David talks about the one indicator he uses and how he has adjusted it slightly to include another indicator to draw a complete picture of the index, ETF or stock he is trading. Finally, we discuss his very specific way of setting his stop losses and how he adjusts them if needed. We finish by discussing how he sets goals for himself and measures his personal success in the markets.
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Full-time trader Joey Massarelli has found several patterns that over time he is able to recognize as profitable opportunities. Here we talk about how he uses moving averages over several key timeframes to trade within channels. He talks about how he looks for breakdowns and breakups within a chart, how he uses Gann theory to find pivot points, and how Fibonnaci levels help him find exit and entry points. He trades very large size in SDS (UltraShort S&P500 ETF) and SSO (Ultra S&P500 ETF long) almost exclusively. Listen to our discussion about timeframes and what he's looking for in terms of probabilities before he will enter a trade.
Premium: Trading on Multiple Timeframes with Moving Averages
Specs: 23 mins, 26 secs | 10.8 MB
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Steve Temes is a trader and hedge fund manager who has many years of experience in the markets. Starting out on Wall Street after college, Steve talks about how he learned the trading business and how he became confident in his trading strategies prior to trading money for other people. We discuss what a great trading opportunity looks like on a chart for him, which moving averages he follows and what timeframes he uses most commonly with his setups. We also talk about why he doesn't use physical stop losses but has the discipline to maintain strict trading rules with mental stop losses.
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Trading around market cycle theory is something more day traders are watching and implementing. Once the exclusive realm of long term investors, tracking market cycles on a variety of timeframes, including 10 minute charts, is becoming more commonplace among traders looking for quick moves in a chaotic market. In this interview, full-time trader Nick Santiago talks about how he looks for inside bars and breakout and breakdown patters within multiple timeframes to find trading opportunities each day. He also utilizes "time count" to help determine what an ETF or individual stock will do next. Listen in as we discuss his approach to the markets and why he thinks he was able to call the current downtrend in the market before most other traders.
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Wayne McDonell specializes in online currency trading and recently authored a book on the subject called The FX Bootcamp Guide to Strategic and Tactical Forex Trading. Here we discuss which currency pairs he watches when trading around big economic announcements such as the Non-Farm Payrolls report. He also discusses futures trading and how he trades the 10-year T-Notes and stock indices using the futures market. We then talk about how a trader can prepare to trade for a living, and how he manages his risk by increasing or decreasing his position size based on the total dollar amount in his trading account. Finally, we talk about why traders should create a three year business plan for their trading and how it helps traders of all experience levels to remain disciplined even in highly volatile markets.
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Vincent Bagnato is a full-time trader who uses various moving averages and other technical analysis tools to find trading opportunities in exchange-traded funds (ETFs). In this interview, we talk about how he transitioned from trading by "feel" to relying on reading charts and trends for his trading strategy. We also discuss why he things 15-minute charts are unreliable and why he trades failures in the "cup and handle" chart setup. Finally, we discuss how he sets goals for himself and how becoming a proficient poker player has helped him determine his trade size and read of the markets more consistently. Find out more about Vincent's trades at: FINZ.tv.
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Trader Mike Toma discusses how he uses a simple spreadsheet to measure the success of his trading setups and promotes or dumps them based on specific numbers. Mike Toma started out trading during the "SOES Bandits" era before and during the .com craze. He then stepped away from trading and returned a few years ago to trade full-time. Here we talk about his 10 trading setups and how he uses them and tracks their success to gauge how well he is doing in the markets. We also talk about how he developed his confidence as a trader and the things he feels are most important aspects of his trading success. Mike and his trading partner post about their trading strategies and setups at: TWCFutures.com.
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Don Miller is an individual S&P E-mini trader who has been in the markets for over ten years. Here we talk about the strategies he uses including trend indicators, tick movements, moving averages and VIX. We also talk about what it takes to become a confident trader and exactly how much money he made last year trading. One of the better interviews we've had in a while! Don blogs about his trading strategies and thoughts at: donmillerjournal.blogspot.com
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Raymond Firetag is a former real estate mortgage broker who turned to trading less than one year ago. Here we talk about his learning curve, how he blew his first trading account learning the craft, and the changes he made to come back from those first tough months. We also discuss the strategies he uses and a few of his favorite websites and blogs including macro-man.blogspot.com.
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Adam Ulichny is a full-time trader who uses simple techniques to find trading opportunities in a basket of several hundred stocks. Here we talk about the timeframes he watches and the moving averages that he has found work best to spot reversals of trends and other techniques. We also talk about the specific dollar amount he wants to pull from the markets each day and what happens when he doesn't meet that goal. He also blogs about his experiences at stackyourcream.blogspot.com.
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Mark Longo is a former CBOE floor trader who now trades on his own and runs TheOptionsInsider.com website that educated traders on various options strategies and news. We discuss how trading differs for him now off the floor and I ask him if there is value in the services that give retail traders the pit sounds. We then talk about several options strategies, how the VIX has become a popular security to trade and how traders are also using it as an indicator. Finally, discuss "Iron Butterfly" options strategies and the growing popularity of binary options as a trading tool.
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Jay Cooper is a successful full-time trader who uses the Market Profile and Market Development theory to evaluate the markets and find trading opportunities. He trades mostly e-mini futures but has traded many different markets in his career. Here we talk about why he settled on using the market profile technique after testing and trying many different indicators and charting tools. We also discuss why he feels so strongly about trading plans and a few of the online resources that have helped him develop including AlexanderTrading.
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Jeff Greenblatt is the Fibonacci Man. Here we talk about how he uses the Lucas series of numbers to supplement his trading on Fibonacci levels. We also talk about his unique trading style and why he didn't have success with Fibonacci alone. Listen to this interesting interview for ways you can implement his trading strategies as well.
Trading Support and Resistance with 52-Week Highs and Lows
Specs: 19 mins, 19 secs | 8.9 MB
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Tim Racette is a young trader who has achieved success finding trading opportunities in 52-week highs and lows combined with pullbacks to support and resistance levels. Here we also discuss how he finds entry points, sets stops and calculates his risk on each trade. Tim then talks about why he feels trading is 80 percent mindset and 20 percent systems. Finally, we discuss the broker and software he uses and why he doesn't do research doing market hours.
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Robert Green is a Certified Public Accountant (CPA) who specializes in tax preparation and planning issues for active day traders. Recently, an important court case was completed whereby a husband and wife from Sarasota, Florida, were denied trader status with the IRS. Here Robert talks about the case, why it's important to active traders, and the details, benefits and pitfalls of claiming trader status for tax purposes with the IRS. More about Robert and his practice can be found at GreenTraderTax.com.
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Nigel is a trader in Hawaii who gets up at 3:30 am each morning to trade the markets. Here we talk about his personal progression from a novice trader without much in the way of technical analysis trading strategies and or money management principles, to a trader who has just recently experienced a major set of milestones and turning points in his career as a full-time trader. It's an interview that focuses on a trader currently emerging from the haze and fog of novice experiences to the point at which he is now successfully implementing the sum of all his hard work and lessons learned. Any trader who feels they are on that "brink of transformation" so to speak, who should definitely listen in.
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Trader Rob Booker talks about how he determines how much he risks on each forex trade, why he takes long-term foreign currency positions in addition to his day trading, and how long it took him to be confident in his trading strategies and abilities. Although Rob trades primarily Forex, traders of all types will benefit from his candid talk.
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Eric Patterson has been trading since the days of SOES bandits and Block Trading. He's traded successfully through bull and bear markets and has completely automated his system to find opportunities, buy and sell. He executes 1500 to 2000 trades a day. Here we talk about what puts him in the top 1% of all independent traders and the keys to his success in the markets. A fascinating look at a great trader with a totally automated quant system.
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Roland Campbell is a news trader who focuses on trading opportunities around economic announcements and fundamental analysis. Although he primarily trades currency, he will trade any market in which he sees an opportunity. Here we talk about how he finds breakout trades around whole numbers and the timeframes he looks at regularly. We also talk about how he provides liquidity to traders where he knows their stops are placed. We also discuss his monetary trading goals and how he works part-time as an engineer on the weekends when he's not trading. More about Roland can be found at ForexPremiumTrading.com.
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Ken Calhoun has been trading for many years. He teaches others to trade as well, but he's an instructor that practices what he preaches. Here we talk about the currency pairs he trades, how his stock day trading and currency day trading strategies differ, and the items he looks at on his charts. Specifically, we talk about how he looks for Cup Patterns with an ADX over 40 and trading opportunities that arise when a security has twice its average movement in a day. More about Ken can be found at DaytradingUniversity.com.
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This week we talk with Wayne McDonnell about how he trades the currency markets, how he finds opportunities each day, and the various timeframes he uses for confirmation that it's time to execute. We also discuss why he sets goals in terms of "pips" rather than dollars or percentage gain. A good interview for traders of any market, but especially forex. Find out more about Wayne and his methodology at FXBootcamp.com.
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Mark Whistler is a full-time Forex trader and Senior Market Strategist for TradingMarkets.com. Here we talk about how Mark trades the EUR/USD and looks for "transparency" in the markets, the indicators he uses (including slow stochastics, Bollinger Bands, MACD and longer term moving averages), how he uses "indication of implied volatility," and how he uses macro-economic information and technical analysis together. We also talks about how his un-orthodox way of deciding how much money he wants to make in the markets each day. Finally, he talks about a great trade he had recently and a bad trade as well. Note: the audio on this one is not great - I apologize in advance.
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Brian Shannon is a full-time swing trader and a new author of Technical Analysis Using Multiple Timeframes. In this interview we discuss his background in trading and his overall philosophy of his approach. Brian talks about why he sets a 3-5% gain goal each week for himself each week and how he finds opportunities with "acceptable risk." We also discuss how he uses key levels of support and resistance to find trades. Finally, we discuss how he takes a large basket of stocks each week and whittles them down to about 20-30 he will be watching. He also has a blog at AlphaTrends.net.
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Johnson is a full-time trader who also trades for other investors. Here we talk about his overall philosophy about the markets, his monthly and annual goals, and why his favorite trade is shorting into resistance. We also talk about how his trading changes when he's trading someone else's money. Johnson blogs his trading activity at: johnsonstradingblog.blogspot.com
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Ed Ponsi of FXEducator.com is a well-respected trader and author of a new book called Forex Patterns & Probabilities: Trading Strategies For Trending & Range-Bound Markets. Here I talk with Ed about the strategies he covers in the book, how he thinks traders should be playing the US Dollar right now, and which currency pair correlates very well with the US equities markets (in other words, watch this currency pair for trading opportunities after the US markets move!).
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John Netto is a full-time trader and hedge fund manager who trades just about every market but focuses on forex, options and commodities. Here he and Tim Bourquin talk about the effect of the Fed announcement on the US Dollar and other currencies. We also discuss John's philosophy on trading the markets, charts and time frames he watches and what he thinks the best forex trade is for the short-term. We also discuss his strategy of "Gamma hedging" and his risk management principles. John can be found at OSOKTrading.com.
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Tim Ord is a full-time at-home trader who has been in the markets for over 25 years. One of his claims to fame: in 1988, using his own account, he placed fourth nationally in the option division in "The United States Trading Championship." Tim's trading methods of looking at supply and demand in the markets was first outlined almost one hundred years ago in the work of Richard D. Wyckoff. Many know of his work in coming up with a new method of trading using the N.Y.S.E. tick index. Here we talk about how he combines stock price and volume to determine the price direction on a swing trading basis. Read more about Tim at Ord-Oracle.com.
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Joe, also known as Upside Trader at his blog, is a full-time trader who has achieved consistent success. Here we talk about his short-term trading philosophy, what he looks for in the charts he uses, and the homework he does each evening. He also talks about why he doesn't trade during the first thirty minutes of the market opening. Finally, we discuss how his trading strategy has changed over the years and why he writes his blog about his trading experiences.
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Suri Duddella has been a full-time trader for 12 years. Here we talk about his favorite chart patterns, why he watches a 5-minute and 610 tick chart, and how he sets trading goals for himself. He's also self-published a great chart book called Trade Chart Patterns Like the Pros. You can find out more about his trading style at SuriNotes.com.
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Jack Broz is a trader who trades in a booth on the floor of the CBOT. Here we talk about the advantages of being on (near) the floor and how times are changing, his overall approach to the markets and why he thinks more traders should look at bonds as a trading vehicle. He's written articles for the CBOT and also has a newsletter called The Marlin Letter.
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Ron Rascati is a trader who has been profitable for the past three years. We talk about how he uses simple suport and resistance levels and a 50-day moving average to find trading opportunities. We also talk about how much he risks on each trade and about his way of using stops. You'll also learn how to keep a winning trade from becoming a loser by waiting too long to close a position.
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(Note: Newer Trader Interview) Ben and Harold Riley have been trading full time for just over a year now. As brothers, they pooled their money into an account and sometimes trade the account simultaneously. They do have different trading styles. Ben, who we talk to first, is a daytrader while Harold's style lends itself better to swing trading. The benefit of trading together is that they can bounce ideas of each other and give each other feedback about their trading decisions. Here we talk about how they are learning the ropes, how much money they started with, what their goals are and how they find trading opportunities. They are still looking for long-term consistency, but they continue to get closer to that each day. They also document their trading activity in their blog: http://www.10kthrownaway.com/blog/.
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Show notes: Basim a.k.a. Trader Stewie is a popular trader and blogger (http://theimpatienttrader.blogspot.com/) who has been trading since 1998 and been full-time in the markets since 2004. Here we talk about why he calls himself "The Impatient Trader," why he never uses stop losses, how he finds trading opportunities with "wedges" and breakouts, why he sometimes puts himself on "trading probation," and a host of other issues. I also ask him how much money he makes. If you've been following this discussion in the Idea Lab, you know it's a big deal. A great interview with lots of practical information you can use in your own trading.
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Show notes: James Sankiewicz is a trader in Florida who started out trading in the dot com bull run and simply bought shares of IPOs and held them for the day. That didn't last of course, but he continued trading by using options and finding stocks that had reached exhaustion points and are ready to turn. James trades by "feel" so it's often tough to describe how he finds trading opportunities. But we talk about how he determines the strike price and expiration he wants to buy and how he manages each trade.
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Show notes: James Stankiewicz is a trader in Florida who started out trading in the dot com bull run and simply bought shares of IPOs and held them for the day. That didn't last of course, but he continued trading by using options and finding stocks that had reached exhaustion points and are ready to turn. James trades by "feel" so it's often tough to describe how he finds trading opportunities. But we talk about how he determines the strike price and expiration he wants to buy and how he manages each trade.
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Show notes: We focus on trader taxes in this interview - specifically tax issues for forex traders. However, traders of other securities can find nuggets of information in here as well as we discuss ways to minimize your taxes by claiming Trader Status. Robert also talks about how certain laws actually conflict each other and why forex traders need to be especially careful with this year's taxes. Robert Green is a CPA with GreenTraderTax.com. If nothing else, this interview demonstrates why you should have the help of a tax accountant who understands trading and what you do each day in the markets.
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Show notes: Chris Perruna is a part-time trader who holds positions from three to nine months at a time, looking for larger moves in stocks he chooses based on the CANSLIM method from Investor's Business Daily. Here we talk about the three stock screens he uses each night, why he likes stocks that are about to bounce off their 200-day moving average and why he, even though he is a longer-term trader, will get out of a position the same day if the trade isn't working out. Chris' blog can be found at: ChrisPerruna.com.
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Show notes: Rob Leshman has been a proprietary trader since 1999 and focuses on short-term E-mini futures trading. Here we talk about how he approaches the markets, where he places his stops and how he looks for opportunities for profitable trades. We also talk about how he starts with monthly and weekly charts and works his way down to smaller time frames to see where the trends are presenting themselves.
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Show notes: Ray Barros is a trader in Asia who trades the US markets. Here we talk about how it took him seven years to hit his stride and find out what works for him in his trading strategy. He uses something he calls an "expectancy formula" which allows him to determine his profitability and also guides him on whether he will take a trade or not. He also discusses how he uses an "18-period swing" to find entry and exit points.
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Show notes: Steve Palmquist is a trader with more than twenty years of market experience who puts his own money to work in the market every day. His new book, Money-Making Candlestick Patterns: Back-Tested for Proven Results, is due out soon. I talked with Steve about how he uses candlestick charts and why his book focuses on ways he increases his probability of success using candle charts by a factor of four, just by adding in a few additional data points. Listeners can learn more about testing trading systems, his current view of the market and the setups he is watching at his site at daisydogger.com.
Keywords: candlestick charts, stock trading
Post your trading ideas and read others in the TraderInterviews.com Idea Lab.
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Show notes: Joshua Hayes has been trading since he was a teenager. Here we talk about how he uses the CANSLIM method to find profitable trades and how he uses the 50-day moving average to find stocks that are ready to move. He has a longer time-frame, sometimes holding stocks for months and even years. Yet he is a full-time trader and concentrates on quality trades rather than quantity. His website can be found at BigWaveTrading.com and he also writes for RealMoney.com.
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Barry Burns is a full-time trader who takes a very holistic approach to trading. Here we talk about the various things he looks at to find trades each day (he refers to them as "energies"). We also talk about his background and how having a father who was also a professional trader helped him get his start in the business and the importance of mentors for him. We also discuss why having "trying to figure the market out" is opposite of what traders should be doing. Have a listen to see what he means. Barry also has a blog at TopDogTrading.com.
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Dick Diamond has been a trader for many years beginning back in the 1960s. Here we talk about how he trades, including his use of MACD, Channel Index, and an indicator called Ergodic. He trades using Ensign Software. We also discuss how he became a disciplined trader and why he only takes trades he feel have an 80% chance or better of being profitable.
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This interview originally ran on July 5, 2007. Trader Mike is a popular trader and blogger who delivers daily commentary about the markets on his blog at TraderMike.net. Here we talk about his style of trading, why he likes shorting stocks more than going long and his thoughts about how blogging helps him be a better trader.
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Allan Harris came up with his current trading system while on a family road trip across the country. His nearly hands-off system looks at insider buying and capitalizes on moves the stock makes when the news of the transactions is released to the public. Originally a lawyer, he decided he'd had enough of the profession and decided to be a full-time trader. He blogs about his trading at: AllAllan.blogspot.com. A fascinating look into one successful trader's tactics.
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Wade Hansen started trading during the late nineties and like most traders, had a tough time when a technology stock he purchased went from $75 to worthless. He then found option strategies profitable and moved into currency trading. Here we talk about the "carry trade" unwinding and what it means, how he sells deep in-the-money calls to hedge his currency positions. We also discuss how he trades ETFs using point and figure charts. He and his business partner John do great daily videos on their site at: www.PFXGlobal.com.
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Juan Sarmiento began his trading career, like most people, as an avid long-term investor in the markets at the time with Peter Lynch's books were at the top of all the bestseller lists. He later read books about Elliot Wave and decided to apply those theories to various markets. He felt most comfortable with options and now it is his primary trading vehicle. Specifically he uses a strategy he posted on the TraderInterviews.com Idea Lab - called PCCRC. He also blogs his thoughts on the markets at: http://stockoftheday.blogspot.com/.
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Kathy Lien of DailyFX.com is an experienced trader and does significant research on the forex markets. Here we talk about what affect a Fed rate cut will have on the US Dollar and why she is still bullish on the Euro. We also talk about why the EUR/GBP might be a buy and her thoughts on trading crosses such as the AUS/CAD and EUR/CAD. Finally, we discuss how she uses Bollinger Bands and the 20-period exponential moving average to find entry points and set stop losses. She also blogs her thoughts on the markets at: KathyLien.com.
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Mike Parker is a full-time forex and futures trader who has interesting story about how he first learned about the markets. Here we talk about how he uses linear regression channels (LRC) on daily and four-hour charts to find trades. We also discuss using dynamic support and resistance lines. The interview really gets interesting when we start talking about stop losses - and why he never uses them.
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Avery Horton, aka "TheRumpledOne" (TRO) on the Internet, is a stock and currency trader who uses simple horizontal line indicators to find profitable trades each day. Here we talk about how he trades Apple (AAPL) over and over again for short-term profits. We also discuss how he uses the same horizontal lines to trade the dollar/yen currency pair. You can read more about him by visiting his websites at: Kreslik.com and StockFetcher.com.
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Jeff White is a full-time trader who has worked hard to find consistent success in the markets. Here we talk about how he finds trading opportunities by using scanning software, how he determines his stop loss points and how he scales out of profitable positions. We also talk about the minimum daily volume and minimum price he wants before he considers trading a stock. Finally, we talk about how he became comfortable with short-selling stocks and how it has led to becoming a successful short-term trader. You can read more about Jeff at: TheStockBandit.com.
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Bill "Muddy" Milsted is a full-time stock daytrader who has found success using a system of finding movers on a daily basis and recognizing their patterns. Here we talk about the scans he does on a nightly and weekly basis to find the stocks he will watch the next day and then how he enters the trade. You may be surprised by its simplicity. Bill is proof that even full-time traders don't always need complex systems to make money in the markets. You can read more about him by visiting his blog at: http://greenonthescreen.blogspot.com
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Pinoy Trader is an independent trader and blogger who trades stocks and options. Here we talk about how he got started, the strategies he uses, and how he measures his own success in the markets. We also talk about how he finds trading opportunities and the scans he uses during the trading day. You can read more about him by visiting his blog at: http://pinoytrader.blogspot.com/
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Richard Peterson is the author of Inside the Investor's Brain. As a former futures trader, Richard knows firsthand how subconcious mistakes and biases can sabotage the financial decision-making of market enthusiasts. Here we talk about how to make changes and what to do to learn your own biases so you can overcome them on your road to consistent success in the markets. Take a free money psychology test Richard's website at MarketPsych.com.
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Vitaliy Katsenelson is the author of Active Value Investing: Making Money In Range-Bound Markets. While this interview focuses more on long-term investing rather than trading, it's interesting to hear how Vitaliy uses only fundamental analysis to choose stocks. It's also good information for anyone who has longer term accounts such as retirement 401Ks or IRAs. The book's website is: ActiveValueInvesting.com
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Abe Cofnas has been a trader and educator for many years, focusing on the forex markets. He has been the forex trading columnist for Futures magazine since 2001. His new book, The Forex Trading Course: A Self-Study Guide To Becoming a Successful Currency Trader outlines his strategies and offers a realistic view of what it takes to make money with currency trading. His website, Learn4x.com is a central information hub for his methods.
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Timothy Sykes is a twenty-six year old trader who freely admits that trading is tough. Yet he turned $12,415 of Bar Mitzvah money into $1.65 million dollars - much of it after the "dot com crash" in 2000. Here we talk about why he focuses on shorting micro cap stocks, why he closed his hedge fund in order to write and trade and why he tells his story in his book, An American Hedge Fund: How I Made $2 Million as a Stock Operator and Created a Hedge Fund. We talk about the challenges in finding enough stock to short and they type of homework he does in the evening to find trading opportunities for the next day. His website is TimothySykes.com and here is a link to his book
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Grace Cheng is a popular blogger and trader based in Singapore who primarily trades currency. Here daily commentary on the forex markets is widely read online at GraceCheng.com. Here we talk about her trading style, what charts she likes to monitor and how she balances her day and swing trades. Her website talks about her philosophy for successful trading - the 3 M's - Mind, Method and Money Management. She has also written a book, 7 Winning Strategies for Trading Forex: Real and Actionable Techniques for Profiting from the Currency Markets
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Bill Kraft practiced trial law for more than 25 years before starting his own photography business. After realizing it wasn't quite what he wanted, he started reading everything he could about online trading. His net worth went from about $300,000 to multi-millionaire status eight years later. Here we talk about how he came through the tech crash by learning how to play the downside of the market effectively, how he trades using options and an "Iron Condor" strategy, and why he decided to write a book about his trading strategies called Trade Your Way To Wealth
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Jeff Greenblatt is the Fibonacci Man. Here we talk about how he uses the Lucas series of numbers to supplement his trading on Fibonacci. His book, Predicting Any Market, also talks about his unique trading style and why he did not have success with Fibonacci alone. Listen to this interesting interview for ways you can implement his trading strategies as well.
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Sean Blair got his start in trading, like many people, with a personal experience with currency exchange when he was in Europe. Here we talk about why he uses a 9, 18, and 40 period simple moving average. We also discuss how he uses RSI on a 30-minute chart to find trading opportunities, and a formula he uses to calculate pivot points and uses those calculations to find opportunities in the markets accurately.
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John Netto is a true trader's trader, constantly watching a variety of markets for trading opportunities. Lately, he has been focusing on spot gold as well as gold-focused ETFs. Here we talk about his gains and losses over the past few months, how he's bounced back from some crummy months and how he also watches currency as a way to gain understanding of other markets. One of the best interviews this month!
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Originally aired in 2006. We'll be back next week with all-new interviews. George Thorsen as an extensive background trading foreign exchange, S&P and currency futures as a full-time independent trader. Here he talks about his conservative approach to trading currency, why he trades GBP/USD almost exclusively, and how he determines when and where to place his stops. George lives and trades from his home office in Florida.
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Originally aired in September 2006. Rob Booker is probably the most down-to-earth successful currency trader you'll ever meet. His easy-going manner and frank talk about the markets has made him one of the most popular speakers at the Forex Trading Expo. But Rob is a trader first and a speaker second - a key indicator of his desire to be successful in the markets. Here we talk about why a new trader simply can't replicate what other successful traders are already doing by "looking over their shoulder." Successful traders need to find systems that work for them personally to be consistent. Hear why! Also take a look at his book, Adventures of a Currency Trader
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Ed Ponsi of FXEducator.com is a well-respected trader and author of a new book called Forex Patterns & Probabilities: Trading Strategies For Trending & Range-Bound Markets. Here I talk with Ed about the strategies he covers in the book, how he thinks traders should be playing the US Dollar right now, and which currency pair correlates very well with the US equities markets (in other words, watch this currency pair for trading opportunities after the US markets move!).
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Adam Hewison of INO.com posted a video and note on his blog about the recent elimination of the uptick rule. We talk about that and how it will affect individual traders and why it means you should be comfortable shorting more than ever. We also talk about how he finds opportunities in the markets and the type of charts he likes to use.
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David Piscorik is an active trader who has a couple of websites he does on the side including his blog and a site that tracks the stocks discussed on CNBC's Fast Money show. He is a CPA by trade and here we talk about how he looks at the markets, how he determines trends and whether they are continuing or ending, and how he scans the markets for opportunities each day.
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Trader Interviews is on vacation this week so we're re-running a "Best Of" show that originally ran in early 2006 about Fibonnaci. Carolyn Boroden is a Commodity Trading Advisor and Technical Analyst that has been involved in the trading industry for over 20 years. Here we disucss her unique method of using Fibonacci not just on price action, but on time as well in order to truly "time" the markets - something many traders may not know traders are doing.
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Sandy Jadeja is a market commentator and Chief Market Strategies for ODL Securities. Here we talk about how he predicted the Dow to hit 14,050 and why he thinks we may be in for a 15% correction over the coming year. We also discuss oil and its correlation to the major indices. Finally we discuss the phenomenon of "spread betting" in the UK and how that differs from traditional trading here in the US.
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Greg Capra is President and CEO of Pristine. He's been a trader for many years and here we talk about his evolution as a trader and how he uses price information to find trading opportunities. He focuses mostly on the E-Mini now, taking trades on both the Dow and Nasdaq-related markets.
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Trader Mike is a popular trader and blogger who delivers daily commentary about the markets on his blog. Here we talk about his style of trading, why he likes shorting stocks more than going long and his thoughts about how blogging helps him be a better trader.
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Teresa Lo is a trader and an independent market strategist for advisors and institutional clients. She has been online since 1998, when she retired from the securities industry after a 12-year career. Her work has been featured in numerous books and publications. Individual investors and traders can tap her experience and expertise by way of her blog and she has been featured in numerous books and articles. Here we talk about how her science background led her to approach the markets in a very quantitative way. You can read more about her evolution as a trader in this recent post on her blog.
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With over fifteen years experience in the financial industry, Bill Dale has spent the last thirteen with RBC Dominion Securities, most recently in the position of Vice President and Portfolio Manager, specializing in both alpha generating managed currency mandates and currency overlay risk management for multi-national companies, institutional fiduciaries and international high net worth private investors. Here we talk about how individual traders can use some of the same tools as institutional traders and Bill's overall philosophy about using the currency markets as a primary trading vehicle rather than just a hedge play. Bill can be found at BillDale.com where you can also find out more about Alpha Generating currency strategies.
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Miss Trade has been trading full-time since 1998 and learned early on that he was more comfortable shorting the market rather than going long. Here we talk about why he blogs, how he learned patience in the market, and how he uses price, volume and a few simple indicators to consistently make money in the markets. We also talk about the point at which he felt he had become confident in his trading style and what it took to get there. He also mentions a couple books he likes including Pit Bull and When Supertraders Meet Kryptonite. Miss Trade can be found at MissTrade.wordpress.com.
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Toni Hansen is an experienced trader who approaches the markets in a very practical manner. Here we talk about how she uses different strategies during different times of the day, why it took her nearly four years to get truly comfortable with her methods, and how she learned to bounce back from a streak of losing trades. Toni can be found at ToniHansen.com).
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Dan Fitzpatrick is an established technical analyst, trader, trading coach, educator and long-time contributor to TheStreet.com and RealMoney.com. Fitzpatrick is a former hedge fund manager and has lectured throughout the United States on stock and options trading with an emphasis on technical analysis. He is also a member of the Market Technicians Association. Here we talk about his trading style, what timeframes he looks at most commonly on charts, and why he started his website (StockMarketMentor.com).
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Joey Fundora, a.k.a. Downtown Trader focuses on using technical analysis techniques to uncover supply and demand imbalances in equities. Here we talk about how he uses a 20 period moving average and "regression to the mean" to spot places where other traders are panicking and ready to get out. We also talk about using Bollinger Bands and finding points where there is a "psychological imbalance" in order to swoop in and take advantage of short-term moves.
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Trader-X has become a very popular trader and blogger over the past year. Thousands of traders follow his daily writings about his thoughts on the markets and his approach for finding trading opportunities. Here we talk about how he uses Fibonacci retracements and extensions, candlestick charts, and moving averages to spot trades. We also talk about following price action and playing gaps for profit. Finally, we talk about setting goals and whether it is important to him.
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Smita Sadana is an experienced full-time trader who has been managing her personal seven-figure trading portfolio with success for many years. After initially "paying her dues" with a 20% drawdown her first year trading, she has managed to find a comfortable trading methodology for herself. Her modest goal of simply beating the S&P by double digits each year has kept her disciplined and steady even during volatile market conditions. Here we talk about her ups and downs as a trader and her way of setting stop losses that is quite different from how most traders calculate the level.
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Randy Frederick is Director of Derivatives for Charles Schwab. He is the chief architect of Schwab's option trading platforms and analytics tools. Frederick also authors monthly columns for Schwab's client newsletters, and is the host of the weekly radio show "The OPTIONal Hour" on TFNN. His articles have been published in trade magazines such as Active Trader, SFO, and Futures. A respected industry veteran, he is a frequent guest on CNBC, and his comments appear regularly in the financial news media including The Wall Street Journal, Barron's and TheStreet.com. Here we talk about trading forex and options.
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Dave Mabe is a trader and has a popular trading journal at StockTickr.com. Here we talk about his evolution as a trader, how he finds trading opportunities, and how he makes adjustments based on his history. Dave has come up with some interesting tools that tell him about his success rate during certain hours of the trading day that enable him to make changes and increase that success percentage. Other sites mentioned in the interview: TraderMike, MaoXian, and HighChartPatterns.
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Alan Farley is a very respected trader who has shared his insights on the markets for many years at HardRightEdge.com. He is a columnist at RealMoney.com and the author of The Master Swing Trader, an outstanding book that I highly recommend. What people like about Alan is that he truly is a trader first, and a writer/author/instructor second. He trades the strategies he teaches every single day in the markets, which is why he's so respected by fellow traders. Here we talk about how he trades on days when, like the day this interview was recorded, the Fed is set to announce or any other big announcement is to take place. We also talk about a workshop he is doing which includes two days of live trading.
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Teresa Appleton has been a trader for 10 years and trades stocks, options and index futures. She is self taught and learned her trading skills by reading countless books and trial and error. Here we talk about her approach to the markets and why she watches the TRIN and the "Up Down" indicator. I also ask her about setting profit targets and stop losses. Her website is TradeWithLogic.com
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David uses a combined technical approach based on individual and inter-market trend analysis, technical and candlestick pattern recognition, the gauging of multiple market internals, sector dynamics, and a solid knowledge of probability and mathematical expectation. Trading stock and options as well as futures, he employs a wide range of timeframes as both a swing trader and position trader, adjusting his focus as market technicals and conditions demand. He is developing a website called ThisIsTrading.com that should be live in the next few months. He also uses iVolatility.com and DividendDetective.com on a regular basis.
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Ken Chow was one of the traders we interviewed at our first Trader Interviews LIVE! event in Irvine, California. Ken is a full-time trader who gave us some great insight into how he finds profitable trading opportunities with the E-mini Russell futures. I ask him about where he sets his stops and why he likes index futures. We also talks about how he uses meditation to clear his mind and allow the markets to give him clear signals.
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Mike Bridges has been trading for many years and specializes in trading index futures - primarily the e-Mini S&P. He also spends time as a mentor for Pacific Trading Academy. Here we talk about the variation of MACD that he uses and why he made a slight change to what most traders use. He also talks about how he uses slow stochastics, a 21-bar moving average on a 3-minute chart and Committment of Traders data. We also discuss why finding the right market to fit someone's personality and trading style is crucial. His website is FortuneForecaster.com
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Larry Pesavento is a very respected market technician who has been trading since the 70's. Here we talk about why he things pattern recognition systems like Elliott Wave and Fibonacci work well, especially in the currency markets. He also talks about where he thinks the market is headed over the next few weeks and why. Larry is a master teacher as well, training hundreds of traders pattern recognition at TradingTutor.com and has written several books including Fibonacci Ratios with Pattern Recognition and Profitable Patterns for Stock Trading. But make no mistake, Larry is a die-hard trader first and author/teacher second.
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Andy Kershner started trading in 1994 when he and a friend began phoning in option trades from the Texas Tech Library. Fed up with terrible executions, he moved to Texas to try electronic trading. Here we talk about how trading has changed since then, traits he sees in successful traders, and how hearing others calling out their trades around you can help you find new opportunities. Andy's website is KershnerTrading.com
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Glenn Thompson is a full-time trader who has found a niche for himself in the markets. Here he talks about why he is shorting orange juice (at the time of the interview of course), how he looks for confirmations when he has decided the time is right to strike. He's one of the best traders you've never heard of who will trade intra-day or overnight depending on what the E-mini S&P charts are telling him. Glenn is a good example of trading what's looking good vs. what you are comfortable with. Find out why he sells below support and buys above resistance - opposite of what most traders are doing!
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Mitch Cariaga has managed a floor of traders who trade firm money in Asia for several years. As a trader himself, he knows what actions the successful traders take to ensure consistent results. Here we talk about his history as a trader and what it took for him to realize what it takes to make money in the markets. He discusses a very interesting story about the moment he realized how he could make money in the markets and what he had been doing wrong previously.
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Doug Hirschhorn Ph.D., known to many as Dr. Doug The Trading Coach, has been helping traders overcome psychological obstacles to successful trading for several years. In this interview we talk to Dr. Doug about overcoming a string of losing trades, how beginners can develop confidence in the trading abilities and the right types of goals you should be setting for yourself each day the markets open. Doug's website is TradingDr.com
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Geoff Bysshe is a trader who focuses on a strategy called "The Open Range." It is a method of making trading decisions based on price action in the first thirty minutes of the trading day. In fact he's written a book about it that is available for free on his website. Here we talk about the strategy and how he uses it to take profits from the market. Geoff's website is MarketGauge.com.
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Gene is the founder of BuySellorGetOut.com and has been a trader for 30 years. Here we talk about his trading style and methodology and how he uses mechanical trading on a daily basis.
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Ken Calhoun has been a trader for many years and developed his own style of looking for breakout patterns for trading opportunites. Here we talk about the timeframes he looks at, how long he typically holds a trade, and how he uses TRIN and time and sales data to help him find profits in the market. He is also the founder of DaytradingUniversity.com.
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Eric Patterson has been trading since the "good 'ol days" of SOES bandits and Block Trading. He's traded successfully through bull and bear markets and has completely automated his system to find opportunities, buy and sell. He executes 1500 to 2000 trades a day. Here we talk about what puts him in the top 1% of all independent traders and the keys to his success in the markets. A fascinating look at a great trader.
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Jason Alan Jankovsky is a full-time trader and does a daily live wrap-up of the US dollar at ProEdgeFX.com. He is also the author of Trading Rules That Work. In this show, we talk about how most traders think about the markets in the opposite way that they should. We also talk about how technical analysis alone is not what Jason Alan feels will make a successful trader. More important than technical analysis, according to Jason Alan, is a solid understanding of the bedrock underlying structure of the market and what other traders are thinking and doing. Listen in to understand what he means!
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Robert Green is a CPA and CEO of GreenTraderTax.com. He is also the author of The Tax Guide for Traders. Here we talk about what traders can do to minimize their taxes for 2006 and also things they need to do before April 15 for 2007 taxes. Claiming "trader" status with the IRS takes some understanding of the various options - we break down some of those options for you in this interview.
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Jeffrey Katz has been trading for many years by applying a systematic, scientific approach to the markets. He is the co-author of The Encyclopedia of Trading Strategies, and Advanced Option Pricing Models. Here we talk about how Jeffrey finds new systems, how he splits his trading between systematic and discretionary trading, and how he manages days when he is monitoring many trades at once.
Trading Forex Around Announcements: Wayne McDonell
Specs: 21 mins, 29 secs | 9.9 MB
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Wayne McDonell is a professional Forex trader with an entrepreneurial spirit. He coaches new forex traders at FXBootcamp.com and conducts webinars at various forex-related websites. Here we talk about how he trades the EUR/USD around "Non-Farm Payrolls" announcements, what timeframes he looks at for trading opportunities, and how he sets his stops and profit targets. We also discuss how to determine how much to risk with each trade and why standardizing that across every trade is a good idea.
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Christopher P. Hendrix, CMT is a private trader and Founder of Hendrix Market Advisory, LLC. He is the senior technical analyst and co-founder of the technical analysis division within H&R Block Financial Advisors. Here we talk about how he develops his trading systems, how he judges the success of those systems, what he looks for each day in the market, and his favorite indicators. His website can be found at www.mytechnicalanalyst.com.
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Julie Peterson-Manz has been trading equities since 1998. She and her husband, Adrian Manz (also interviewed previously), have been "team trading" for years now whereby Adrian places the trades and Julie manages the positions once they are on. It's a unique setup that has worked very well for them. Here we talk about how Julie's Ph.D. in social psychology helps her manage trades, how they place stops using risk/reward ratios and the ways in which they scale out of winning positions. Their picks are also posted daily at TraderInsight.com
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Colin Cody is a CPA and the owner of TraderStatus.com. Here we talk about who qualifies for trader status with the IRS, what it means in terms of deducting losses and expenses, how it differs from trading through an LLC or corporation, and what you need to do to elect the "mark-to-market" strategy on your taxes. A great primer for those traders who want to learn more about writing off losses and trading expenses without having to actually sell your positions.
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Lee Leibfarth is a full-time independent futures trader who designs, tests and implements his own trading systems. Here he talks about why the e-Mini Russell 2000 is his trading vehicle of choice, his unique way of looking at charts that aren't based on timeframe but on the number of transactions happening, and why his opinions on backtesting differ from many other system traders.
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Thomas Stridsman, CTA is an independent market researcher and registered Commodity Advisor specializing in rules-based trading strategies. Here we talk about what that means and why it works well in various markets. We also talk about an article he wrote for Active Trader magazine about the changes in index volatility and what lower volatility and less "trendiness" means for traders who focus on index trading. He also talks about why he recommends placing the trade yourself instead of automating that functionality as well. You can find Thomas' website at ThomasStridsman.us.
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Tom Bulkowski (www.ThePatternSite.com)is a trader and frequent contributor of articles to SFO Magazine and Stocks & Commodities Magazine. He's also written several popular books including Encyclopedia of Chart Patterns, Getting Started in Chart Patterns, and Trading Classic Chart Patterns. Here we talk about what criteria he uses to guage the success of a chart pattern, what time frames he uses to look for these patterns, and why he never shorts stocks. As much as Tom is an expert in technical patterns, he doesn't discount fundamentals and talks here about how he uses news events to make even more money on chart-driven trades.
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Kevin Mackenzie is a trader who started with stocks and found his niche in trading index futures. Here he talks about getting close to trading full-time, what time-frames he uses to find trades and the websites he uses including DaisyDogger.com and SignalWatch.com. Kevin trades four index futures: S&P eMini, eMini Nasdaq, Dow eMini, and eMini Russell 2000 index futures. He talks about why he likes these four and why he found them to offer the best trading opportunities for his personal style.
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Tim Truebenbach is a seasoned trader who owns True Capital Management and writes regular commentary for TradingMarkets.com. Here we talk about how to read price and volume to determine short-term trends. Tim talks about what "distribution days" mean for traders and how to it helps him determine where institutional money is flowing. We also talk about how much he risks in any given trade and why he sometimes does not place a stop loss on his trade and instead prefers to monitor the price manually.
, also talks about his unique trading style and why he did not have success with Fibonacci alone. Listen to this interesting interview for ways you can implement his trading strategies as well.