All Entries Tagged With: "Trader Development"
North Carolina Traders…
December 6, 2012 at 3:49 pm
If you’re a Raleigh trader or are located in the surrounding area, make plans Friday December 14th or Saturday December 15th to attend the Worden Conference where I’ll be presenting live alongside Peter Worden.
On both Friday & Saturday (Dec. 14 & 15) at the Worden TC2000 workshop, I’ll be teaching live. It’s at the Embassy Suites Raleigh-Durham (201 Harrison Oaks Blvd, Cary, NC 27513). The workshop starts at 10am and ends at 4pm, and I’d love to see you there either day.
Specifically, I’ll discuss Simplified Technical Analysis (Friday), and Trading YOUR Way Better (Saturday). We’ll take a look together at what’s really taking place in the market right now, what looks best going forward (so you’ll leave with some actionable ideas), and we’ll build a watch list together of your stocks and read the charts together.
I have a lot of good stuff planned, plus you’ll see the new version 12.3 of TC2000. I’m excited about being there and giving you some insights for better trading. Make plans to be there by pre-registering or just show up (it’s free) – but get there early for a good seat!
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
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Philadelphia Traders…
September 17, 2012 at 9:59 am
If you’re a Philadelphia trader or are located in the surrounding area, make plans this Friday September 21st or Saturday September 22nd to attend the Worden Conference where I’ll be presenting live alongside Peter Worden.
On both Friday & Saturday (Sept. 21 & 22) at the Worden TC2000 workshop, I’ll be teaching live. It’s at the Crowne Plaza Philadelphia West (4010 City Avenue, Philadelpha, PA, 19131). The workshop starts at 10am and ends at 4pm, and I’d love to see you there either day.
Specifically, in my two sessions I’ll cover Simplified Technical Analysis and Trading YOUR Way Better. I’ll also share with you what’s been working best in the market lately, what looks best going forward (so you’ll leave with some actionable ideas), and we’ll build a watch list together of your stocks and read the charts together to discover some new candidates.
I have a lot of good stuff planned, plus you’ll see the new version 12 of TC2000. I’m excited about being there and giving you some insights for better trading. Make plans to be there by pre-registering or just show up (it’s free) – but get there early for a good seat because it’ll be a full house!
Trade Like a Bandit!
Jeff White
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Shifting from Smart to Equipped
June 28, 2012 at 10:33 am
One of the things I love about TheStockBandit University is the opportunity to interact with the traders who enroll in the courses. As they’re learning and asking questions, I have the chance to see the light bulb go on when things begin to click for them. It’s very rewarding.
Recently a trader reached out to share his thoughts with me mid-way through the courses, and I just couldn’t help but share it with you here. This is what he wrote:
“I have just finished the “basic†course. I thought I would have a lot of questions, and I would be pestering you with emails along the way, but I have no questions. You answered them all and many besides. Perhaps, you gave me the skills and confidence to answer my own questions. Something happened anyway.
The “basic course†is very comprehensive. I’m excited now. I have gleaned lots of ideas from your presentation to improve my trading plan.
I’ve been to university, I have a degree in medicine. I can’t remember though, ever coming across such an excellent teacher. I suspect your teaching is spawning leaders in the field rather than followers.
On with the Advanced Course now. Can’t wait!
M.P.
That is so cool. This already smart trader is now equipped – and there’s a huge difference. That’s exciting to me, that the work I put into the courses is paying off for this trader. More importantly, his own efforts in the learning process are rewarding him with the ability to be self-directed in the markets. He’s no longer a slave to a single trading style. He no longer needs the market to do something specific in order to find success.
I rarely share testimonials here with you, but this was one I had to pass along for those of you who are on the fence when it comes to taking the next step toward becoming a self-directed, complete trader. Our stock trading courses are risk free – there is zero barrier to kicking the tires. Enroll today and find out for yourself what it’s like to be prepared for whatever the market throws at you.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
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Follow @TheStockBandit
Denver Traders…
June 1, 2012 at 9:05 am
If you’re a Denver trader or are located in the surrounding area, make plans Friday June 8th or Saturday June 9th to see me present live in conjunction with Worden!
On both Friday & Saturday (June. 8 & 9) at the Worden TC2000 workshop, I’ll be teaching live. It’s at the Denver Marriott West (1717 Denver West Boulevard, Golden, CO 80401). The workshop starts at 10am and ends at 4pm, and I’d love to see you there either day.
Specifically, I’ll show you what’s been working best in the market lately, what looks best going forward (so you’ll leave with some actionable ideas), and we’ll build a watch list together of your stocks and read the charts together.
I have a lot of good stuff planned, plus you’ll see the new version 12 of TC2000. I’m excited about being there and giving you some insights for better trading. Make plans to be there by pre-registering or just show up (it’s free) – but get there early for a good seat!
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Get our free newsletter to keep up!
Follow @TheStockBandit
Have a Unique Trading Routine
May 2, 2012 at 8:50 am
I heard from a trader this week with whom I’ve worked for 1 year this month. He’s a class act and quite likeable, making him even easier to correspond with. 🙂
During that time, he’s completed both the Basic Trading Course and the Advanced Trading Course, and he’s been a subscriber of the nightly stock pick service. He has truly put in the work, and he’s utilized me and my experience along the way as well (as he should).
One of the things which has made him successful is that he has truly modified everything I’ve given him to fit his own unique needs. I’ve mentioned this to many in the courses and nightly newsletter, but some do it better than others. This guy has done it exceptionally well, so I wanted to share with you what it looks like.
It’s different than mine, and it should be different than yours. But by seeing it, you’ll notice things which spark ideas for your own routine. You’ll identify ways where he has adjusted and you have not, and it may expose a weakness you haven’t previously considered. I’ll tell you the same thing I have told him, which is to take what’s useful to you and then make it your own.
Here’s his routine:
If the indexes have a big gap, I know most of the movement has been sucked out before things have started (unless it is a panic dive out of stocks). I won’t start trading until after 9:30 to avoid the amateurs and HFC causing strange movements and pullbacks, though I sometimes make exceptions, but want to plan them. For instance a sustained pullback on a troubled stock will sometimes be an exception. (Though more often than not I end up regretting it.)
I have personal things I have to watch. My (physical condition) affects how sharp I feel and how confidently I respond to situations, so I take that in consideration on how much or even if I should be trading.
I look at which way I think the market will continue to go (coming back later to see if I was right) opening, and whether it has been going up, down, or randomly/sideways. I honestly look at which direction I am confident in trading. There is no point starting a trade you do not trust – you’ll just pull out too early with a loss.
I decide on my loss level. If there is little juice left in the market I may only let a trade come back a support level or so. I need a strong runner to make it worthwhile in that case.
I look at how long I can trade. I have limits depending on how my arthritis is on how long I can sit, I also may have personal commitments, but decide to see if I can get a good runner that I can leave with a trailing stop when I run out of time. Of course on a weak day where I would use support levels that is out of the question.
Afterwards I come back and look at how much I lost/made.
Great stuff from a guy who has put in the work. He has a routine that suits him – he isn’t trying to mimic someone else. Can the same be said about you?
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
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What Do You Do When You Hit Your Loss Limit?
April 26, 2012 at 8:15 am
Over the past 10 days, there have been two occasions where I hit my daily loss limit. Sounds like a tough stretch, but on a net basis it’s actually been positive thanks to some other good days.
Mind you, I’m generally a disciplined trader, and in a dozen years of full-time trading I have broken my discipline countless times but have never truly gone on tilt where it’s account life or death.
That said, I do not have a broker-set cutoff. That’s where you specify a dollar amount, which when hit will lock you out of making more trades. It’s still your account and you could call in and override that I suppose, but it’s at the very least a break in the action for you, and a very good thing for some people – namely, developing traders.
Back to my point and the title of this post, what happens when you hit your daily loss limit?
For me, it’s a general dollar amount where I start to understand that barring some really great trades, and with the amount of risk I am willing to take, I’m unlikely to recover. It’s a matter of recognizing that I’m likely to do more harm than good – either to my account or my confidence.
At times, I’ll hit that level and I just need to admit defeat, shut it down, and come back another day. I might leave my platform open and monitor the market or open positions, but I know I don’t need to press any more buttons. Adhering to that has on many occasions prevented deeper wounds to my account.
Knowing when to walk is found in two things: one internal, one external. Internally, you must understand yourself and your tendencies. Externally, you must be able to recognize current conditions and determine if there’s good reason to continue or not.
Over the past week, however, I had two different outcomes when I chose to trade beyond that mental cutoff.
Exhibit ‘A’
The first was a day where my limit had been reached, but I allowed my emotions to interfere. This was the internal element, and I was in no shape to continue. (That, by the way, also prompted this week’s video.)
I didn’t go on tilt, but I lowered my standards in what was ultimately a mild version of revenge trading. That never pays off, and in this case it cost me a little more. As it should have. I hit my loss limit plus another 1/4, which isn’t a ton but it is too much.
The mistake was that I continued to trade because of my P&L. Catch that? Because of it, not in spite of it.
Exhibit ‘B’
The second occasion was similar in that I reached my mental cutoff, but it was different because it was a day where my emotions were settled.
I continued to trade not out of anger or frustration or ego to prove I was right, but because there were multiple stocks in play which warranted my participation. Conditions were very favorable for making good trades, so I continued.
I was accepting risk beyond a normal cutoff amount, but it was with a level head and with some real potential to turn the day around. And I did. It was rewarding, not in the sense of “I told you so” but simply because I kept taking good trades when they surfaced, added it up in the end, and came out slightly ahead.
It’s nice to dig out a bad day, even if it means you barely do better than break even.
On some days, those are wins.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
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Follow @TheStockBandit
Be Present – When The Bell Rings 3
April 18, 2012 at 8:48 am
Today, I bring you Episode 3 of When The Bell Rings.
In this episode, we’re talking about a common mistake among traders which seems so obvious – yet so few make it a point to avoid.
I hope you get a lot out of this installment. Keep coming back for more in the days ahead, and of course if you find these helpful, then let me know!
Run time is 4:07.
(Direct video link is here for those interested in embedding it elsewhere to share).
By the way, here are links to Episode 1 and Episode 2 in case you missed them.
Trade Like a Bandit!
Jeff White
Producer of The Bandit Broadcast
Get our free newsletter to keep up!
Follow @TheStockBandit
