Advice
Are there any books you have read, that you would recommend to people?
The Zulu Principle - Jim Slater. Still the best book on basic fundamental analysis for the UK market.
The Zulu Principle - Jim Slater. Still the best book on basic fundamental analysis for the UK market.
How charts can help you in the stockmarket - William Jiler. A classic text, and a real gem! And very cheap.
Technical analysis of the Futures Markets - Murphy. A heavy tome, but excellent in most respects.
Options Plain and Simple - Lenny Jordan - my bible for options trading.
Japanese Candlestick Charting Techniques - Steve Nison
What is the most important advice you can give the average trader?Enjoy it! And don’t forget what and who is important to you in life.
What advice do you have for the beginner trader?
- Stoploss, stoploss, stoploss.
- Trade small until you know whether you can do it.
- Read and study everything you can get hold of.
- Go long only in the strongest sectors in a rising market.
- Go short only in the weakest sectors in a falling market. (i.e. don’t try to swim against the current!)
- Stick to high liquidity stocks with narrow spreads. Some of my best trades have been in seriously boring companies.
- Have I mentioned stoplosses?
What are the traits of a successful trader?
- Perseverance.
- Analytical.
- Loves trading for its own sake, not just the money.
The View From The Floor
Do you enjoy working from home?Yes - I love being away from office politics.
What environment do you trade in, for example do you have a separate office, multiple monitors and CNBC on the telly?
Study set up as a trading room. 2 monitors. ISDN (ADSL not available)
Study set up as a trading room. 2 monitors. ISDN (ADSL not available)
What effect has trading had on your personal life?
It has improved it immeasurably. No one to ask if I want a day off.
It has improved it immeasurably. No one to ask if I want a day off.
Do you sometimes need to get away from the market for a few days?Absolutely. My best ideas come when I’m out walking the SW Coastal path!
Is trading for a living firstly viable and secondly desirable?I hope so or I have a problem!
If you weren’t trading what would you want to spend your time doing?Gliding in the Italian Dolomites, South Africa or New Zealand.
And Finally
Do you have any goals at this point?Short term - to make a profit this month.
Medium term - 4 weeks in New Zealand next year
Long term - indefinite good health and happiness.
Medium term - 4 weeks in New Zealand next year
Long term - indefinite good health and happiness.
Do you still see yourself trading ten or fifteen years down the road?
Yes
Yes
When you make your first million, what will you spend the money on?
Pay off my kids' student debt
Schempp-hirth Discus 2 glider
Early retirement for my long suffering wife.
Pay off my kids' student debt
Schempp-hirth Discus 2 glider
Early retirement for my long suffering wife.
Not necessarily in that order!
Any comments about T2W?Great site. How about some more contributions from those who have registered but never made a posting?
Any last words?Enjoy life. Don’t put off your dreams. On your death bed your main regrets will be about all the things you neverdid, and very few about what you have done.
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