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Traders & Investors Club Meeting - 20th October 2009
Why Do I Need A Trading Strategy And How Can I Get One?
As human beings, we have hard-wired survival instincts that have enabled our species to survive for thousands of years. When we're stressed, in danger or under pressure to make a decision, the hypothalamus of our brain is activated. It initiates a series of chemical releases and nerve cell responses that prepare us for our decision to fight or take flight.....................or to buy or sell.
The good news is that these instincts will protect us against falling out of bed. The bad news is that they also render most of us incapable of making consistently good calls in the market. Unfortunately for us as traders, we are genetically-programmed to be lousy at our chosen profession.
This is why to become a consistently successful trader, we have to have a trading strategy that will protect us from ourselves in the metaphorical heat of battle.
But what exactly is a trading strategy?
This evening, Kevin Barry of the Traders & Investors Club will be giving us a brief introduction to the process involved in developing our own trading system. We shall be looking at how to use a combination of technical analysis techniques in order to help us to time our market entries and exits thereby transforming every trading day into a serene and relaxing experience. As if!
Towards An Automated Trading System - Part II
As we discussed last month, traders are generally divided between two camps; Discretionary Traders, who trade using their judgement, and System Traders, who trade strictly according to a set of predefined rules.
Following on from Kevin's presentation, there arises an interesting question: if we are able to formulate a set of rules that enables us to place profitable trades on a consistent basis, why not remove the Trader altogether and have our orders placed in the market automatically when our system flags a trading opportunity? In other words, why not use an algorithmic trading strategy?
We are very pleased to welcome back Daniel Rolles and Stuart Snell of the Traders & Investors Club with the second part of their presentation on algorithmic trading techniques. This evening, they will be describing the construction and implementation of their Asian Channel Break strategy and giving us an overview of their work in progress in developing an automated trading system based upon it.
Daniel and Stuart will be describing the implementation of their strategy on the Ninja Trader platform. However, similar techniques may be used on other trading platforms, several of which are provided free of charge by ODL Securities.
Market Roundup And Open Forum
As the markets continue rising to dizzy heights, it looks like the worst of the recession is behind us and the return of the good times is just around the corner. Or is it?
In order to be a successful trader in the modern world, you must be aware of how the price of sugar or an after dinner speech by Ben Bernanke will affect your stock, commodity and property portfolios. Kevin Barry of the Traders & Investors Club and Simon Dixon of Benedix will present a summary of the recent global market action and throw the floor open to the audience for their take on the current trading environment.
Our Month In The Market
The Traders & Investors Club is an indispensable element in the development of both new and experienced traders. One of the major benefits of membership of the Traders & Investors Club is the opportunity to network with like-minded individuals. Every evening, members talk about their successful, and not so successful, trades as well as describing their individual trading strategies and methods.
Have you discovered a strategy that works for you or would you like to learn how other traders have become successful? Bring your trades along and perhaps get a different perspective on how to best manage them. Have you recently read a book or article that has given you new insight into the market? Why not share your discovery with the rest of us?
Tonight's Speakers
Simon Dixon was originally trained in Corporate Finance as a Stock Broker and Market Maker. Simon is well-known for his unique insights into Market Maker manipulation and revealing institutional trading secrets. Simon speaks for top institutions such as TD Waterhouse, and Bloomberg amongst others. He lso contributes to the BBC, Investors Chronicle and the Information Exchange. Simon is currently Head of Training & Research at Benedix providing training and recruitment services for the banking and finance sector.
Daniel Rolles and Stuart Snell are Private Traders with an interest in trading systems development.
Kevin Barry is a full-time trader. His preferred investment vehicles include options, spread betting and foreign exchange.