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Trading On News But Watching Technicals
Specs: 37 mins, 31 secs | 17.2 MB
  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.

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Trading On News But Watching Technicals


TraderInterviews.com: Hello everybody. Welcome back to TraderInterviews.com. Thanks very much for joining us for another show this week. We're going to be speaking with Peter Farmer. He's a trader in New York and I have spoken to him at a couple of the Trader's Expos. We're going to talk to him about that same thing today. So, Peter, thanks very much for joining us on the show today.

Peter Farmer: Tim, thanks for having me.

TraderInterviews.com: Well, I always ask and sort of briefly asking you what got you into the trading game in the first place?

Peter Farmer: I cam out of college and I always knew I'd work on Wall Street. I've always had an interest in stocks. It's started when my grandmother gave me some stocks and some dividends to follow and I've been busy following it ever since.

TraderInterviews.com: Did you take any classes or read any books or was it kind of self-taught how to do this?

Peter Farmer: I actually did not. I came out with a Computer Science major because I figured in the mid 80s that computers were going to be the way of the world. And I figured I would learn everything I need to learn on Wall Street, which is what I did.

TraderInterviews.com: Okay. Can you describe kind of your overall philosophy of trading the markets? Are you a technical guy? A fundamental? A day trader? How would you describe yourself?

Peter Farmer: I have a couple of different hats I wear. I would definitely say I'm a fundamentalist. I like taking a big picture view and then break it into a lot of different components and then having different term limits for my trades. One day, you know, every day there will be short-term trades to do and that could be day trades. That could be overnight trades. There will be news. You know, you come into the morning and...

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