T2W Trading Community

Advice

Are there any books you have read, that you would recommend to people?
The best 2 books I have read are 'The Master Swing Trader' by Alan Farley and 'Trading in the Zone' by Mark Douglas. The former is a very advanced book and I now use it as a reference book, as it covers most areas of trading. 'Trading in the Zone', however, is a lot better as a general read and it has made me look deeper into my own psychological make up, which has shown up a few fundamental flaws in my trading which I was then able to correct.

What is the most important advice you can give the average trader?
Make sure your trades have at least a 2:1 [[Reward/Risk ratio]], ideally 3:1. Anything less than that and your money will slowly be drained from your account.

What advice do you have for the beginner trader?
Learning to trade well is a long journey, which uncovers all human nature's weak points. If you can accept it is a long journey, then start by learning the basics of TA and money management. From there you can develop your trading into more complex areas. Also, start off by paper trading until you can trade profitably, then look to start small with little trades and build up over time. Staying in the game is the most important thing when you're looking to trade

What are the traits of a successful trader?
Discipline, a passion for trading and a sound risk/reward strategy.

The View From The Floor

Do you enjoy working from home?
I prefer it to work from home. After working in the city of London, not having to travel to work is wonderful.

What environment do you trade in, for example do you have a separate office, multiple monitors and CNBC on the telly?
I trade from my living room, with 2 19" monitors and a powerful computer.

What effect has trading had on your personal life?
It's completely changed my life. It gives me a lot more time to do the things that I want (mainly golfing), and I now enjoy life a lot more.

Do you sometimes need to get away from the market for a few days?
Quite regularly. I trade a lot better after I've had a break from the market.

Is trading for a living firstly viable and second desirable?
It is for me. I wouldn't like to do anything else.

If you weren’t trading what would you want to spend your time doing?
If I wasn't trading for a living then I would be studying accountancy or working more on my golf!!

And Finally

Do you have any goals at this point?
My main goals are longer term ones. There are a lot of exciting projects in the pipeline at the moment, and each one I'm looking forward to implementing.

Do you still see yourself trading ten or fifteen years down the road?
Yes. I can't see any reason why I would want to stop.

When you make your first million, what will you spend the money on?
Cars!!!! The wish list is growing rapidly

Any comments about T2W?
T2W is going from strength to strength. The future developments of the site are very positive, coupled with some excellent ideas. The entire site is a credit to Sharky, along with his team and I hope they're very proud of what they have built.

Any last words?
Bulls make money, bears make money, pigs get slaughtered