Tips and trick from traders on how to become a better trader.
“The key is consistency and discipline,” says Richard Dennis who grew $400 into $200,000,000.
"The key is consistency and discipline. I don't think anybody winds up making money in this business because they started out lucky."
For legendary trader Richard Dennis, the importance of being consistent isn't just theory. In 1984, on a bet, Dennis trained 23 individuals off the street to religiously follow a set of trading rules. His point was to provide that discipline was the key to trading success. All but 3 of those beginner traders made over 100% return their very first year of trading and Dennis won his $1,000,000 bet. Consistent discipline is also what is taught in the "Futures in Motion" advisory service.
“It's perseverance” declares Tom Baldwin who started with $25,000 and made untold millions trading upwards of $2 billion dollars a day in T-Bond futures.
"It's perseverance. You don't need any education at all to do it … because it is like any job. If you stand there long enough, you have to pick it up."
By most accounts, Tom Baldwin may be the single largest individual trader in the T-Bond pit and Tom attributes his success to perseverance. This is a principle on which "Futures in Motion" is based. According to Tom, you need no special education to become a super trader. Ken agrees and believes that if you just follow him every day, eventually you have to pick it up.
"It is a happy circumstance that when nature gives us true burning desires, she also gives us the means to satisfy them. Those who want to win and lack skill can get someone with skill to help them."
“Always use stops” recommends Michael Marcus who turned $30,000 into $80,000,000.
"Always use stops. I mean actually put them in, because that commits you to get out at a certain point … to be a competent trader and make money is a skill you can learn."
“Get someone with skill to help” advises Ed Seykota who turned $5,000 into $15,000,000 trading commodities.
Ed Seykota lives on Lake Tahoe and trades from his office overlooking a view of incredible beauty. Ed's living his life exactly as he wants and the gentle philosopher within him wishes you to enjoy the same privilege. To Ed, it's a simple matter; if you have a true burning desire, get someone with skill to help you. Ken Seehusen and the "Futures in Motion" advisory service fits the ticket.
“Your Passport to Professional Advice”
"MarketClub" is your passport into the exciting and sometimes super profitable world of trading, where turning a small bankroll into a huge fortune is not an impossible dream.
Notice that none of these incredibly accomplished traders attribute their success to some secret formula. The methodologies of Schwager's 17 super-traders varied greatly, but they all had one thing in common. Through experience they developed the method and the discipline to act decisively time after time.
This is great advice from some very successful traders.
President, INO.com
Co-founder, MarketClub
SIX STEPS that every trader needs to know to succeed in the markets.
Step 1: A move begins with the sponsors (smart traders) who have insider knowledge as it relates to a particular stock or market. This information will move a market up or down depending on the insiders' information. These buyers are smart, very smart, and recognize trading/investment opportunities very early in the markup cycle.
Step 2: Days, weeks, or sometimes months after a move has started, there is a brief mention in the electronic media (radio, cable, TV) or on one of the internet chat boards that a market has moved. The public hears for the first time and begins to get interested, but does not buy.
Step 3: A blurb of information appears in print media. The move also begins getting more exposure on blogs and internet message boards. The public starts paying a little more attention, and will buy a little bit.
Step 4: Wall Street and LaSalle Street brokers go into full hype mode and hawk the market to their customers. The public begins buying in greater volume.
Step 5: A full-blown front-page article appears about the particular stock or market in one of the major financial newspapers, magazines, or financial websites. This is often six months after the fact and after a market has shown its greatest appreciation. There is often heavy public buying, even a possible frenzy, as all media, brokers, and so-called "gurus" start to tout the market.
Step 6: As step 5 gets underway, the sponsors or smart traders begin to move out of the market and take their profits off the table.
The Final Step: The move ends, the market falls, and investors lose money.
Does any of this sound familiar to you? If it does then you know the key rules of engagement in the market. If none of this is familiar to you then learn to recognize these six step asap. Your financial life depends on it!!
This is how the markets have worked since the beginning. I hope this insider market tip is of help to you.
President, INO.com
Co-creator, MarketClub
Yesterday, I shared with you a video that showed five stocks that met the criteria of our "Trade Triangle" technology as a strong uptrend.
Most of you would have watched this video after the close of business on Wednesday, February 11th. So, I took the opening prices on Thursday, February 12th, as these are the price that you could have bought them at the following levels.
Here are the five buys:
AKAM-AKAMAI Technologies, Inc. -Purchased at $16.90
CI-Cigna Corp.-Purchased at $20.57
HUM-Humana, Inc.-Purchased at $43.20
WLP-Wellpoint, Inc.-Purchased at $43.14
EMC-EMC Corp.-Purchased at $11.89
All of these stocks could have been hypothetically executed on Thursday morning at the opening. We will track these five stocks and see exactly how they pan out. Some I suspect will be winners while others may not... only time will tell.
At the close of business on Thursday all five stocks that we are tracking closed in higher from our purchase points.
AKAM AKAMAI Technologies, Inc. -Closed at $17.84 +.94
CI-Cigna Corp.-Closed at $21.49 +.92
HUM-Humana, Inc.-Closed at $43.80 +.60
WLP-Wellpoint, Inc.-Closed at $43.59 +.45
EMC-EMC Corp.-Closed at $11.94 +.05
So far so good ...
Let's see how this tracks out in the weeks and months to come.
Adam Hewison
President , INO.com
Co-creator, MarketClub
Great article by David Bogoslaw in this week's Businessweek.
MarketClub is prominently mentioned. See our quote below or read the whole article here.
Here is the MarketClub exerpt:
"Possibly the only investing site that comes close to advocating the same widely diversified approach as most financial advisers is Marketclub.com, which educates members about—and provides trading tools for—a wide range of assets, from U.S. and Canadian stocks and mutual funds to foreign currencies, agricultural and industrial commodities in the cash and futures markets, and government bonds. Marketclub, which charges subscribers $449 a year, isn't an online broker but gives members what they need to trade various asset classes on their existing brokerage accounts."
"Marketclub lets users quickly identify which markets are going down or up and to discern trends in all asset classes, says Adam Hewison, the site's co-founder and a former trader on the Chicago Mercantile Exchange. He believes you don't need to make a huge time commitment to manage your own investments. You should be able to tell whether you should stay in or get out of any given asset if you spend even just an hour a week looking at your portfolio with Marketclub's tools."
Be sure to read the whole article here. David makes some very good points.
Adam Hewison
President, INO.com
Co-Founde,r MarketClub
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