Watching Tiger Woods play golf can be breathtaking and inspiring. Even though I am not much of a golfer for myself, I have been dazzled -- along with the rest of the world -- by his amazing sequence of victories and his professional approach to the game.
So powerful are Tiger's performances that they inspired me to think beyond golf to what I do best – trading -- and to the discovery of a strong connection between Tiger's golf game and trading the markets. My discovery? Course management of golf, one of Tiger's great hidden attributes, is no different from trade management in the markets -- one of the keys to successful trading.
For Tiger, course management starts with walking from green to green looking for good angles, wind directions, and danger spots; watching videos of past events, and taking heed of the knowledge of old-timers. He does all this careful work before he tees off for the first round, then during his round he keeps impeccable hole-by-hole records. Aside from his natural talent, it is this preparedness and attention to detail that sets Tiger apart when he plays in a tournament.
Trading the markets and winning requires the same kind of discipline, I’ve found. The more you prepare as a trader and keep detailed records, the better you become. Just like Tiger, you need to do lots of homework ahead of time. Plan your strategy with care and keep track of every single trade – the good and the bad.
The trade management download is a PDF document available by clicking here. I am confident that by using this game plan that your trading and trading results will benefit from this discipline.
As Tiger does in golf, you can "map your course" in the markets by using a game plan. You'll find it helpful not only to have good, concise records written down of what you bought or sold (when, where and why) and what you intend to do next in a particular trade. This is a great form of self-discipline. Just like Tiger, you'll be preparing carefully beforehand, planning a strategy out, and using your game plan to learn what works and what doesn't.
All the best,
Adam Hewison
President INO.com
Co-creator of MarketClub.com
Nice to view the video's and read your obsevations, this one is nice because of the simple rules, I just have to learn to stick to them, it would be nice to have such a program as your's, but not it's not available is South Africa, perhaps one day in the near future.
Richard van der Veen
TIGER REVISITED
Tiger Woods was recently in Australia for the Melbourne Open. I watched the game, not becuase I am a golfer but rather to observe and follow a champion. The thing that struck me was Tiger's mental/emotional approach to the good and the bad stretches of his game. Sure he got upset when he made bad shots but what he seemed to be able to do was focus on the PROBLEM and at times we saw him break down a problem (his swing) into component parts, in what appeared to be a way of identifying where he was going wrong. He would then have a number of practice shots in slow motion working and practicing before he continued the game. The other characteristic I observed was his balanced view of his performance, even his bad day on the Sturday. In his interviews with reporters, he acknowledged his poor performance but at the same time he was always encouraging of his self emphaisising the things he did well even so. He acknowledged he did some work on Saturday after the game, and when he returned on Sunday he showed confidence and assurance in his shots and won the tournament. Is this not a good mental approach for us traders?
Buy the dips , sell the rallies ...know the trend
Watch out for expiries on the futures once every 3 months and the options every month and then watch out for the window dressing at the end of every month and the pension funds buying at the beginning of the month, a relatively small amount
PS I am short this market and will continue to be this way till the early - mid December
I dont suppose this will get published but if it is I welcome your views
Are the tops in........?
That is the question?
I hope will go down till early mid december but we could well hit new highs with a short covering rally and then the window dressing right up until Xmas
Are we not in an ascending wedge? NOW
Is that not a bearish sign once we go throgh 1085?..
Talk to me if you want...I need to know how bulls think...they are actually usually right
Regards
Charles
Charles,
Thanks for your feedback.
Not sure what you are asking so it is hard to answer you in away that would make sense.
All the best,
Adam
P.S. We edited out your objectionable language.
What a great way to look at it Adam, thanks for posting!