Trading Radio Show

Posted on October 23, 2008 
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I know it sounds kinda funny, but here’s my big idea. I keep getting asked to call trades, I keep getting asked what trend is this market in, what trend is that market. Or, I’m long such and such, where should I trail my stop to? I’m short soybeans, whats a reasonable target etc. etc. etc. All perfectly normal questions. So, how about a “radio” format? I sit here, and as I’m doing my trades, I’ll call them out, a little colour commentary perhaps here and there, manage trades on a general basis, talk support and resistance for targeting, talk TREND to try to keep everyone on the right side of the market, and if news breaks, “report” it - stuff like that. What I’d like to do, if anyones game is grab 15 people and try it out for a week. If they like the idea, then I’ll go ahead and buy actual Internet Radio software to do it with. The first 15 people to email me at rob@fibwit.com are the guinea pigs. After the week is over, you’ll owe me a critique / testimonial / comment sheet kinda thing. Thats the deal. No, students don’t count - you’ll be in there anyway! LOL!

Rob

Trading Words of Wisdom

Posted on October 15, 2008 
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I found these great words of wisdom… #4 holds special meaning for us Fibwit traders, LOL!

1. Keep emotions in check. Good traders don’t let their emotions get the better of them. They stay neutral and refrain from panicking over a day, week or even a month of poor performance – especially in these turbulent times. They see the big picture and make objective trading decisions based on research, trends and performance over a significant period of time.

2. Like to trade. People do best at things they really enjoy doing. Trading is no exception. That’s because, like anything, trading requires time and effort, and it’s easier to be committed if you’re truly passionate about what you’re doing. Good traders genuinely enjoy it.

3. Handle risk and uncertainty. Let’s face it, in life there’s no such thing as a sure thing. Every trader has a bad day, but good traders don’t let a bad day in the markets scare them away from the potential of a brighter tomorrow. They’re comfortable taking potentially profitable risks and with investments that aren’t guaranteed — because nothing ever is. They understand ‘no risk, no return’.

4. Focus on a few techniques. Good traders usually hone in on only a handful of trading techniques. The reason for this is simple. Being a generalist allows you to know a little about a lot of things. But being a specialist in an area affords you the power of expert knowledge and this can work to your advantage on many levels. Great traders have two or three techniques that work for them and they use consistently for as long as they’re profitable.

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