Free Live Trading Workshop, London – 27th January 2016

Hi everyone,

First of all, a belated Happy New Year to you, and wishing you all the best for 2016!

I am presenting a free trading workshop in collaboration with Trade With Precision the week after next in London, and you are invited!

Read a little more about it here, and feel free to register to attend- I look forward to catching up with you then!

There are limited seats, and they will fill up fast.

Here is the link to register:

http://member.tradewithprecision.com/free_live_trading_workshop_london2016

tradersWorkshop

 

Best,

Ads

Update – Limited mentoring with Adam

Hi everyone!

It’s been a while and I hope you’re all making good progress with your trading.

Just to fill you in, I’ve put a lot of effort into setting up my fund trading and it’s been invaluable but time consuming. Now that that’s in place, and aside from the work I do with TWP, I currently have a few hours free each week where I would like to offer mentoring to those of you who feel you would benefit.

On a limited basis, I’m able to offer one-on-one coaching packages of ten thirty minute sessions for £1,000. 

These sessions would help you to improve in the following ways, plus any further questions regarding your particular needs.

  1. Refinement of your existing technical analysis, strategies and trade/risk management
  2. Trading psychology
  3. Reviews of your trades with constructive feedback
  4. Increase your confidence and trading experience
  5. Help you become more consistent across the board

Please let me know if you are interested, you can contact me directly at adampeterharris@gmail.com

PS. Something to keep in your diary  for the end of November, is that I may be hosting for TWP, a Trader’s Environment Day, which will be a half-day seminar, and I would like to invite you to it. I’ll keep you posted about this!

Warm regards

Adam

Are You Willing To Learn?

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In this article I hope to draw attention to our subconscious ability to close ourselves off from learning new ideas, but also the importance of keeping open minded towards ideas and information we think we already know.

‘Are you willing to learn?’ It may seem a strange question to ask, as most of us will insist that we are. But this is often based on an impulsive feeling, rather than a considered thought that truly reflects reality. Anyone who has traded before will be familiar with the paradoxical challenge of aligning thought with action and maintaining a neutral, logical, yet alert and flexible mind in the midst of highly emotive circumstances.

I wanted to explore this question after hearing of someone who refused to study anything new about trading; this wasn’t about giving up, but instead he believed it was just a matter of persisting with the information he already had until he succeeded. Although there is sound rationale for persevering with our existing knowledge, particularly in order to refine a strategy, it does strongly rely on our knowledge originating from a reliable source and being fully comprehensive. No amount of persistence can compensate for mediocre information.

It’s unlikely we’ll ever know whether frustration, money spent or human expectation shoehorning reality into a predetermined timeslot was the catalyst for his decision, but it did lead me to consider my own past behaviour. As a newbie trader I made a similar choice and I can honestly say my attitude really held me back. I wasted time believing I could figure it all out on my own, if I was a natural at this then surely I would just intuitively ‘get it’? I was wrong on so many levels. Learning to trade is comparable in skill, to speaking a new language; I’m modestly sure my first baby words were as a result of hearing my mother, without her language skills and experienced guidance I wouldn’t have learnt to speak. Why would trading be any different?

If you recognise the following scenario, you might be trying to learn the hard way; someone demonstrates a better method of doing something, you outwardly accept the advice while inwardly choosing not to follow it. Perhaps a rising sense of annoyance overcomes you, likely stemming from a subconscious belief that you are being deliberately undermined. So even though you hear the words and see the movements you can barely remember anything? That thought and subsequent response denies us the possibility of receiving one vital breakthrough detail, our moment of insight. Furthermore, to have a concept repeated is to have it reaffirmed and clarified. We must learn to appreciate this as an opportunity rather than an irritant we’re trying to ignore.

Fortunately, frustration forced me to take a reality check. If I actually wanted to move forward as a trader then I was going to have to search out the best information and education material I could find. It was a process of trial and error but it was absolutely the only way and the part where I saw the greatest improvement. Ultimately we do have a choice, regardless of whether we actually feel like studying or not.

You may have to actively intervene every time you feel yourself mentally shutting down but eventually it will become an invaluable habit.

Layla

How to spot gambling habits…

Thanks to Layla Andrews for this:

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Paul Good, a clinical psychologist in San Francisco, developed 11 warning signs that may reveal whether an investor is actually a gambler in disguise. Anyone who exhibits five or more of these signs may have a gambling problem.

1. High-volume trading in which the “action” has become more compelling than the objective of the trade.

2. Preoccupation with one’s investments (e.g., excessive studying of investment newspapers or websites, thoughts about the market that interfere with work or one’s social life, constant calls to one’s broker).

3. Needing to increase the amount of money in the market or the “leverage” of one’s investments to feel excited (e.g., using options or future contracts, borrowing on margin).

4. Repeated unsuccessful efforts to stop or control one’s market activity (e.g., drawing on accounts previously declared off limits, contradicting or changing limit orders on losses or gains).

5. Restlessness or irritability when attempting to cut down or stop market activity, or when cash is accruing in one’s account.

6. Involvement in market activity to escape problems, relieve depression, or distract oneself from painful emotions.

7. After taking losses in the market, continuing to take positions or increasing one’s position as a way of getting even.

8. Lying to family members and friends to conceal the extent of involvement in the market.

9. Committing illegal acts, such as forgery, fraud, theft, or embezzlement, to finance market activity.

10. Jeopardizing significant relationships, one’s job, or educational or career opportunities because of excessive involvement in the market.

11. Relying on others to provide money to relieve a desperate financial situation caused by gambling in the markets

A reminder for when trading seems overwhelming.

Whenever I hit a drawdown period, which happens less and less often, by the way, I always revert back to basics. This video by Andrew Hwerdine is still my favourite.  Why? Because it reminds me how simple trading can be, and also that entering on lower timeframes is really only about improving risk to reward, even though the trade setup remains the same.

I hope that this inspires you as much as it does me.

Adam