During the first lockdown I delivered a Daily Market Update to help people make sense of the madness that we were going through. It was well received, and Ive had many requests to bring it back.
However the truth is that on occasions it would add up to an additional three hours of work per session and it’s too much work every day unless it was a paid service.
Therefore, what I will bring back is a Monday Market Update every Monday at 1230 starting from the 12th October. Like last time we’ll take a quick 20-30-minute look at relevant news, interesting stock plays and a look at the FX, Indices and Commodities markets. Put it in your diary!
All are welcome, you can just join us on this link below.
There’s been lots of chat about the big falls in the US Indices yesterday, and to be true there were some great moves.
However some of us were already short US Indices from an earlier opportunity. Those of you who attended the London Traders Forum a couple of years back will have seen me present on how I planned to trade through any upcoming correction – Apocalypse Now. In that presentation I outlined what type of set-up that I was looking for, which you can see on the DOW chart attached. It’s a very simple set-up that I share with you here.
Having been in a clear trend the market then prints a reversal signal (in this case a Key Day Reversal)
Price falls lower and is supported by the 50MA.
Price then rallies but is capped by the 20MA, which has now turned from support to resistance (PO20) and then prints a rejection candle. This is your trigger to go short
Price has now also printed a 123 Pattern and also a lower high to give even more confirmation. Short at 28090, SL @ 28380, targeting 26390 (in front of support and 200MA)
Nothing special there, just a simple trade plan. The problem with this set-up is that it doesn’t happen very often (though similar set-ups happen on intra-day markets all the time.)
And for those of you who’ve forgotten the set-up or would like to see the slides then, as I’m a good guy, you’ll find the slides from that presentation here: Paul Wallace Apocalypse Now – Trading through a coming correction.
I hope that you and your families are safe and well and making the best of this current situation.
Back in March I started delivering a Daily Market Update (DMU) to help people try and make sense of the tumultuous times that we have been living through. Every day I deliver a free 20-25 min sprint through:
– what’s happened in the previous 24 hours
– a quick look at some stocks and sectors that maybe of interest
– a look at anything of interest for the upcoming US session.
I’d like to thank all those people who’ve joined the sessions, contributed to them, and provided feedback.
You’ll be pleased to hear that I will continue to run them through June. They’re free, I’m not up-selling anything, and you are all welcome to join. They’re at the same time (1230 London weekdays) on the same link (see below)
A couple of points though:
I am not an equity specialist
I am not a long term investment specialist
My views are just a simple Momo trader describing what I see in front of me on the chart
All opinions expressed are my personal opinions and don’t reflect the views of any entities, or organisations that I’m associated with.
Nothing written, expressed or implied in the sessions should be looked at as investment advice or a suggestion to trade any stock or financial instrument. DYOR.
If you’re unable to join then the sessions are recorded and published to my website blog late in the day. If you goto www.tradingbeliefs.com and sign-up for updates then you’ll be sent the update every evening.
I hope you’ve enjoyed this rather illuminating start to 2020 and the subsequent market moves we’ve experienced already?
Everyone starts a new year with grand goals about it being their best year as a trader – however those plans often fall flat, for many internal and external reasons. A lot of the challenges come from people trying to make massive changes all at once, which are rarely sustainable. Here’s where we I’ll be helping you in 2020 with a webinar series to help you build your trading business during 2020.
The New Year, New Trader Program will be a series of 4 webinars this year that will help you make incremental change to your trading by building your skill set and business acumen as a trader over the next 12 months. It’ll be split to ensure that you can understand and cover the 4M’s of Trading this year. Each webinar will explain the best practice within that segment of trading and provide a staged checklist for you to work through for the next 2-3 months.
The cost for the webinar series will be £30 for the year. Each session will be recorded for you and you’ll be provided the slides. It’ll become a small self-coaching program to help you make true progress in 2020 towards your trading goals. At the moment it’ll be limited to 20 traders.
So this is Part 1 Webinar of New Year New Trader Program will be on Thursday 23rd January – ( and possibly re-run on Monday 27th) and will focus on what you need to be working on in January, February and March of 2020 to ensure that you’re managing money correctly as a trader. It’s the building block upon which the rest of your trading is built. If you’re not managing risk then you’ll end up as road-kill!
I look forward to you joining us and I hope to help you make 2020 a great trading year for you!
I hope life and the markets are treating you all well. As we draw 2019 to a close we can look back and see that its been an eventful and interesting 2019 from the viewpoint of maret opportunities. Furthermore as we look forward into 2020 we can see more volatility and more uncertainty in geo-politics and financial markets. As always this will provide either a threat or an opportunity based upon attitude and preparedness.
For the last few years I have run the VTP trading sessions in London and I am presently setting my schedule for the VTP trading sessions for 2020. As my diary gets compressed I am looking to deliver the various stages in 2 day workshops (apart from Stage 2 which is 3 Day) with follow-up online sessions. This also makes it easier for the attendees to manage their diary. The VTP was originally set-up to help give Veterans an insight into trading financial markets using three principles that they naturally embrace:
– Process
– Discipline
– Self-Awareness
It just so happens that those very same traits are also seen in consistently successful traders. All traders can improve by embracing these traits into their trading. As the project has evolved it’s now my intention to create a wider community of
‘Versatile Traders’ which I would define as:
A Versatile Trader has the ability to trade any instrument, in any direction, on any time-frame.
Personally, I think the days of someone just being solely a 5 min EURUSD trader are long gone – a good trader now needs to be able to operate where the best opportunity lies. That could be FX, Indices, Stocks, Commodities, Bonds or Crypto.
That’s not to say that a trader may not end up focussing on a particular style, asset class and timeframe as their experience increases, however they should have the ability to operate wherever the opportunity lies.
So with that in mind here are the dates for the VTP Stages 1-4 for 2019. They are delivered in a small group between 6-15. If you want to join a particular stage or to know more then drop me a line.
Stage 1: Introduction to trading and financial markets – 16 & 17th January 2020, London: LTN cost: £297
This is the ideal stand-alone introductory course to trading and financial markets. Over several sessions it provides the building blocks to be able to educate a new trader how to operate safely and effectively within financial markets. By the end of the stage the new trader will understand the 4M’s of Trading: Markets, Methods, Money & Myself
. They also develop those three key traits mentioned at the beginning: Process, Discipline & Self-Awareness. There is no requirement to take any further stages – this is a stand-alone stage that will provide anyone with the fundamental basics of successful trading.
Stage 2: An introduction to longer-term swing and position trading of FX, Indices and Commodities Markets – 19th & 20th March 2020, plus Friday 22nd may: LTN cost £397
Leading on from Stage 1, here we focus on longer term trading of FX, Indices and Commodity markets in-line with how I trade myself and for funds. We provide deeper insight into these markets and additional tactics to help build your own successful longer-term trading business.
Stage 3: An introduction to short-term, intra-day trading of FX & Indices markets – 23rd & 24th July 2020, London: LTN Cost: £397
As the name implies we focus on how to trade FX, European and US Indices from an intra-day basis. Sessions will be based on preparing for your day of intra-day trading of these markets and how to adapt the strategies, tactics and concepts from earlier Stages for intra-day success.
Stage 4: On Managing Myself, Trading Performance and becoming a Money Manager – 19th & 20th November, London : LTN Cost: £397
This stage is split into 2 sections: Half on managing self and the other half on managing money – namely other peoples. 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. 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 wish).
In total it will equate to about 72 hours of us working together over the course of the year. As always there is a cost involved. I am fortunate that I am allowed to use a corporate clients location so that enables me to keep costs to an acceptable level.
Stage 1 has always cost £297.The other stages normally cost £447 but for today if you wish to join one of the stages the cost is £397.
In total to attend all parts of the VTP next year would cost £1488. However for those that wish to attend all of the sessions this year then there is an early bird cost which is reduced to £1200 for the year. There will only be 12 slots free so it’ll be on a first-come, first-served basis, with veterans getting priority.
I wish you every success in your trading for 2020. As I said at the start, this upcoming year can either be a threat or an opportunity for you – it’s about your attitude and being prepared.
‘They have filled in a huge blank in my knowledge. Hopefully now it won’t be 2 step forward, 3 back.’
‘Made me realize that I can do this’
‘The sessions changed my whole understanding, thinking and attitude to trading and my approach to trade, too’
‘An essential course for anyone considering getting into trading. Will definitely save you money and stress in the long run’
‘I’ve recommended already – that’s the best course ever I’ve been involved. The only one course touched somehow my personality ‘
‘Learn the missing ingredients that most retail traders don’t even know exist. Push your trading and yourself to the next level.’
‘I would not have attempted trading again without this course. Covering the basics of trading together with money management (how much to place on each trade and what profit targets to aim for)gave me enough confidence to give it another try.’
If you want to know more you can reply to this message or email me at paulwallace@tradingbeliefs.com for more information.
This is a ticket for the recordings of the Online Traders Forum Q2 Session which includes access to the recordings and slides from the three presentations on Trading Strategies.
£47.00
A couple of weeks back we had a highly enjoyable and educational session for the Q2 Online Traders Forum. The theme was “Trading Strategies”. The recordings and slides of those sessions are now available. We had three sessions:
Kevin Barry talked through exactly how he trades the 5 Minute chart on Indices and FX with some superb examples of a typical trading day for him.
Martin Walker described a simple trading system that Traders can take and use across multiple asset classes
Paul Wallace talked about Mechanical, Subjective and Discretionary Trading and provided three set-ups for each style of trading.
If you wish to avail yourself of the slides and recordings then you can do so on the button above.
Hello traders, Here’s the 3rd Monday Market Update Video for you. Apologies once again my Powerpoint wouldn’t shift into show mode (I’m clearly working on too many software packages on Monday mornings!)
The charts cover the FX STAM and also $BTCUSD and $EEM
Anyway – I hope you get some insight from the video. If you have questions or elements youd like to see me cover then ping me a message before hand.
Have a great trading week and I will see you next Monday at 1230 sharp!
Here is the first of the Monday Market Updates that I promised.
I apologise as I realise in hindsight that I had been running a lot of trading packages on this laptop Monday morning and it was maxed-out. Hence why it wouldn’t let me switch to slide mode for my Powerpoint and also the blocks you see are probably me using zoom functions. Apologies – I’ll remember to restart my laptop before doing presentations in future!
Anyway – I hope you get some insight from the video. If you have questions or elements youd like to see me cover then ping me a message before hand.
Have a great trading week and I will see you next Monday at 1230 sharp!
Hello Traders, I hope youre safe and well wherever you’ve been spending your lockdown. I also hope your trading has been successful during this tumultuous period we’ve been going through.
It’s time for the next and final webinar in the New Year New Trader Program – its on Thursday 1sy October and will focus on Managing Myself.
Everyone starts a new year with grand goals about it being their best year as a trader – however those plans often fall flat, for many internal and external reasons. A lot of the challenges come from people trying to make massive changes all at once, which are rarely sustainable. Here’s where I’ll be helping you in 2020 with a webinar series to help you build your trading business during 2020.
The New Year, New Trader Program will be a series of 4 webinars this year that will help you make incremental change to your trading by building your skill set and business acumen as a trader over the next 12 months. It’ll be split to ensure that you can understand and cover the 4M’s of Trading this year. Each webinar will explain the best practice within that segment of trading and provide a staged checklist for you to work through for the next 2-3 months.
The cost for the webinar series will be £30 for the year. Each session will be recorded for you and you’ll be provided the slides. It’ll become a small self-coaching program to help you make true progress in 2020 towards your trading goals. If youre joining the webinar sessions here then you will have access to the slides and recordings from previous sessions.
So the Q4 Webinar of New Year New Trader Program will be on Thursday 1st October at 1900 London Time and will focus on what you need to be working on in October, November and December of 2020 to ensure that you’re engaging markets using the best practice to manage self as a trader. I will share some simple concepts that you can take away and use in your own trading business.
We had some interesting Price Action on the NASDAQ chart yesterday. If you look at the Daily chart you can see that we printed a Bearish Engulfing Candle which was also a Key Day Reversal Candle – a potent price action pattern. This was preceded earlier in the session by the NASDAQ printing an Evening Star formation on the 1Hour Chart. New traders can take a look and learn from how the Price Action played out.
Remember that you can learn more about these patterns by watching at the previous webinars I delivered on Trading Spotlight. (I deliver a session every Monday afternoon at 2pm London time for Admiral Markets and you can watch them here: Trading Spotlight)
Tuesdays’s DMU was the final one for this period. I started them a few months back to help some friends and clients try and make sense of what we have been going through. 66 Daily Market Updates later its time to draw them to a close as people and economies progress to the next phase of Covid life.
Thank-you to everyone who attended the sessions, and provided either feedback or instruments to look at. Thanks for all the terrific feedback that people wrote me – you were very kind.
As always I wish you all the very best in your own trading endeavours and hope to see you soon.
In Mondays session we looked at: FX Strength & Weakness, Lookers, Twitter & Apple.
We also discussed the New Year New Trader Q3 Webinar – on Thursday 2nd July focussing on Methods. You can find out more here: New Year New Trader Webinar Program.
On Fridays Daily Market Update we covered: XLF Finance ETF, Facebook, Tesco, Royal Caribbean & Airbus.
We also discussed the New Year New Trader Q3 Webinar – on Thursday 2nd July focussing on Methods. You can find out more here: New Year New Trader Webinar Program.
October 9, 2020
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