Hi Traders,
We had an enjoyable session on Saturday at the Online Traders Forum.

The theme for the session was about planning for the year ahead.
I spoke about elements to consider when creating an intra-day trading plan.
Martin Walker talked about Planning for Profit and how to create an overall Trading plan for your trading business.

Kevin Barry provided his ever fascinating big picture analysis on the state of the global markets, and always it was worth attending just to hear his views.

There were plenty of useful ideas and content shared.

The Qnline Traders Forum – Q1 2019

Purchase access to the slides and recordings of the sessions from the Q1 2019 Online Traders Forum

£22.00

You can access the slides and recordings upon completion of the PayPal request.
The next Online Traders Forum will be on Saturday 6th April and we will be looking to focus on Trading Strategies – keep your eyes posted for details!
Trade well,
Paul

Fellow Traders,
This year has been a roller-coaster ride and as we head into the final few months we believe that it will only be more volatile for the remainder of 2019. It’s therefore a good time for us to get together for our main event of the year! So put the following date in your diary for the Autumn 2019 London Traders Forum, which will take place on Saturday, 5th October 2019.

Here is what to you will get on the day:

• A whole One Day Live (Face To Face) Trading Seminar with 3 experienced and seasoned Financial Traders (both Prop and Retail), two of whom coach and mentor client traders.
So that you can learn and benefit from their wealth of trading and life experiences which means helping you to develop and grow as either a professional or retail trader.

• 6 Challenging and content packed, thought provoking presentations covering:

o 2019 Market Analysis by Kevin Barry
o An Holistic Approach to Improving Your Edge by Martin Walker – which will help you manage and improve your trading performance
o An Introduction to Trading with Options by Kevin Barry – a superb introduction to how you can utilise Options in your trading arsenal
o Sharpening the Tip Of The Spear by Paul Wallace – helping you to know when to push hard on your trades
o How to find swing trades and get the best entries by Martin Walker is all about enabling you to find sweet entries to your swing trade setups.
o A Simple Mechanical Daily Trading System by Paul Wallace – which will help provide some of you a mechanical end of day trading method.

So that you can be more informed, take away positive and practical ways to improve your trading, and which also means you get 6 sessions and 3 real traders for the price of 1.

• Included in the above sessions is Kevin Barry’s Market Overview so that we are aware of what we might expect in the months to come in the financial markets, including anything of particular note that he thinks we should know and be aware of on the day. This session alone is always worth the ticket fee. Attending this means that you will be well prepared for what might lay ahead of us in the financial markets from a strategic perspective, plus you can then potentially use that knowledge as a framework around which to spot and plan and take advantage of potential trading opportunities.

• Venue: The event will be held in Central London (You will be notified where, nearer the time by email) with light refreshments and drinks plus Lunch included so that we can all meet in comfortable surroundings, you won’t have to worry where your next drink or food is coming from, which means you can give the speakers and their session content your fullest attention. Plus you will then be able to network and chat over lunch with everyone in a friendly and supportive environment.

• Post seminar Networking opportunity – after the formal seminar – we will then move to the nearest bar and guess what? Paul Wallace is buying the first round! So that you effectively get a small discount on your ticket purchase, Paul gets to put his money where his mouth is and you can then network and chat to the other attendees again in a friendly and supportive environment.

The London Traders Forum will be an event that will cater for an engaged trader and investor who is eager to learn more and meet like-minded souls. You have asked us for it and here it is. We are aiming to foster a Mastermind-type environment, which will encourage a free exchange of ideas in a stimulating environment with plenty of opportunity for networking.

Our mission is to bring you a memorable day in comfortable surroundings at a reasonable cost. Therefore, we will be holding the price for the day down to just £157.
Alternatively you can purchase one of the 10 early bird-tickets for the knock-down price of £117.

Admission is by ticket only and there will only be so many places available. After the success of the first event tickets will sell fast so, to avoid disappointment, I strongly recommend that you reserve your place NOW by purchasing your ticket.

We are looking forward to seeing you on 5th October for a memorable day that is guaranteed to change the way that you see the market.

Visit our Eventbrite Page in order to purchase one of the early-bird tickets: London Traders Forum 5th October.

Hello traders,

So we’re into the back end of April and the Easter holidays (certainly here in Europe) are behind us and allows us to now focus on our trading for Q2. Which leaves us some topics to discuss:

1. How was your Q1? We are now into Q2 so it’s important to look back and reflect upon your performance for Q1. It provided us with some interesting opportunities. I’m a great fan of Quarterly benchmarking and reviews. If you had a poor Q1 then you still have the opportunity to learn from it, amend your approach and refocus your efforts to get you back on track for 2019. If you had a great Q1 then what can you learn from your successes to help maintain such performance? Avoid the temptation to rest on your laurels…or be overwhelmed by euphoria. The ticker has re-set for this Quarter so lets works on making Q2 a great one. If you need help with conducting such a review, or you need an educated sounding board to work off then you can engage with myself for a Trader Development Session to help ensure you’re making progress in the right direction.

2. Trading Strategies Session. As always Traders love to learn about new trading strategies. This Saturday morning, 27th April from 0900-1200 we are running the Q2 Online Traders Forum which is focusing solely on Trading Strategies for you to take away and utilise in your own trading. It’s an online event and you can get a ticket here: Q2 Online Traders Forum. The event is being recorded so even if you cant attend the actual day your ticket will get you access to the slides and the recordings of the session. Kevin’s session on intra-day trading with pivots is always worth the entrance fee.

3. Next Social Event – will be Wednesday May 15th – usual time and place – look forward to seeing you there!

4. Website – my team are slowly building my new website – I’ll be adding more trading material to it over the summer months: www.tradingbeliefs.com

Trade well!

Paul

Paul Wallace
FXIC Trader
Trader Evolution Consultant
Tradingbeliefs

Happy New Year to you all traders!

I trust you enjoyed the Christmas break and are all ready and primed for what will be an eventful 2019 in markets.

I thought Id start 2019 with a great piece of insight courtesy of one of my VTP clients. Ee Lyn is a promising trader who is progressing nicely towards consistently profitable  trading success. She is already managing funds and chipping away nicely.  I received an email from her last week updating me on her trading performance for December:

“Here are my trade results for the 2 weeks to year-end. I have kept my Gold trade open over the holiday period as it was in profit and I have been trailing the SL with the swing lows. Should have kept the last CADJPY trade going as well (I closed the trade manually) as my original target was W1 support at 80.50 (8R profit) and SL had been moved into profit prior to Christmas. The first CADJPY trade was entered on D1 chart, and the rest were adding to the position (entering on H1) when the SL for each subsequent position had already been moved to either break even or profit. I now see what you mean about adding to positions!!

CADJPY short +5R
CADJPY short +7R
Gold long still open
USDCHF short break even
US30 short +2.1R
AUDJPY short +5R
CADJPY short +5.4R
CADJPY short +3.7R
US30 short break even

I hope youd agree that’s a strong end to 2018. She’s posted a fine set of trading results and can take some personal and professional satisfaction in her performance.

I have for many years being mentoring folks that the way to make step-change in their equity curves is to look at riding their winning positions by adding to them. I call it “The Brasso Trade”.  As your man George Soros says:

I teach traders a very simple mechanical way to add to their position that also includes risk and trade management.  Now of course it’s much easier to talk about adding to your position than actually to do it so what I suggest is that people start by adding at the smallest amount possible – to get themselves into the habit of adding to their winning trades. Remember that is also very important – we are adding to winning trades. That is a very different proposition from averaging down on a losing trade!

Ee Lyn has very kindly provided me with some screen shots of one of her positions in CADJPY and has allowed me to share them with you all.

I hope it gives you some insight into the power of building a position and how adding to your winning trades is the way forward.  Perhaps you could make it part of your goals and objectives for 2019 to build an adding-on tactic to your trading plan?  I’ll be covering a small element of this in our Q1 Online Traders Forum on Saturday 12th January.

Ee Lyn has demonstrated some fine trading here and it bodes well for her continued success and development as a trader in 2019. I believe she’ll become a truly world-class trader and money manager.

Fellow Traders,

Over this last summer I re-read the trading classic Pitbull by Market Wizard Marty Schwartz. I originally read it about 12 years ago and so it was a pleasant re-read.  After all these years I was able to take some different messages from Marty’s journey.

I can heartily recommend the book as a good read for traders of all levels. Marty is pretty open about his experiences and the roller-coaster ride he went through.

I was reminded that on the last few pages he references a Pogo cartoon which I myself have used many times: “We have met the enemy, and he is us.”

Newbie traders may see that cartoon and be wondering what on earth that has to do with trading?  Experienced traders nod their head wisely and know instinctively how wise the cartoon is!

The longer you trade the more you realise that it is not the market which is your enemy, it is you.  The market is just a mirror the reflects your own strengths, weakness, biases and darker elements of your character!

New traders like to think that they trade in a silo, that all they need is a fool-proof trading strategy that will make money for themselves.  However with time and experience you realise that it becomes about understanding yourself better and subsequently managing yourself better than before.

That’s why every year I run a two-day workshop based on helping traders raise their self-awareness about managing themselves as traders. The idea is to start to show them their blind spots so they can start to mitigate the risks to themselves.

It’s also about helping you spot the signs of a possible performance slump, and more importantly what you can do to recover when you’re in one (and trust me, everyone has performance slumps as a trader – if they tell you that they don’t then they’re lying!)

On Managing Self and becoming a Money Manager is aimed at helping you evolve in your trading towards professional status, whilst building your own trading business.
It will consist of:
– 2 x full days on 22nd & 23rd November in Central London
– 1 x follow-up online session
For a total of 18  hours working together
It’ll will be split into 2 sections namely: Half on managing self and the other half on managing money – namely other people’s. You may or may not have dreams of becoming a money-manager, however acting as if you are a fund manager is never a bad thing in your own trading business. It holds you to a higher standard in your own behaviour. This whole stage will be focused on what you need to do to build your own trading business that will put you in the right space to be able to seek funding (if that is your long-term aim).

So as always there’s a cost implication: the cost for this stage will be £397.  However for viewers of this blog or members of the London or Dublin Traders Network I will be offering a  reduced price of £347 for the 2 days.

There are 4 slots left and as always it’s on a first-come, first-served basis. If you’re interested or want to know more then drop me a line.
Trade well,
Paul
@FXTraderPaul