How to Trade Like the Pros: A New, Easy-to-Follow Guide From A Successful Trader and Coach
Feb0
How to Trade Like the Pros: A New, Easy-to-Follow Guide From A Successful Trader and Coach – Phil Storer Spells Out the Importance of Being an Investor, Rather than a Speculator; and of Having a Well-Constructed Plan
Successful trading in the financial markets is not just for the professionals. Individual investors can succeed in the stock/commodities markets just like professional traders do, if they will consistently apply some very basic principles to their market decision-making, says long-time professional trader and trading coach Phil Storer.
In his soon to be released book, Chalk Talks for Traders –Easy Xs and Os from a Proven Market Pro, Storer spells out these principles in clear and simple language, and provides the most easy-to-understand explanations available of the essential techniques of technical analysis used by successful traders. Chalk Talks for Traders –Easy Xs and Os from a Proven Market Pro, is also full of chapter by chapter four color graphs and charts.
Adopt an Investor’s Attitude Rather than a Speculator’s
One of the most important principles for making successful trades, says Storer, is adopting the attitude of an investor, rather than that of a speculator. “While both investors and speculators accept risk as a necessary factor for success, investors tend to create a more complete trading plan than do speculators. The result is a smoother ride in the markets for an investor than the roller coaster experience of a speculator.”
While investors and speculators may both get their original ideas from trusted but unproven sources (such as friends, acquaintances, a salesperson or the media) “speculators tend to respond with unbridled enthusiasm, but investors will not sign on until a plan is worked out,” Storer says.
You Need a Well-Constructed Trading Plan
“To be a successful trader, you will need to have a well constructed trading plan,” says Storer. “Without one, you will unnecessarily jeopardize your welfare and create emotional trauma that could completely remove you from the contest.”
A well-constructed plan will address such critical aspects of a trading transaction as: at what price to enter the market (entry level); when to buy (timing); the level of tolerable risk; setting a profit objective (money management); and setting a target price.
“A trading plan will not guarantee a win,” Storer observes. “But because of it, the investor will walk away with the ability to take advantage of the next reasonable opportunity. Unfortunately, without a plan, the same cannot be said of the speculator.”
It’s Easy to Understand
Chalk Talks for Traders –Easy Xs and Os from a Proven Market Pro is filled with easy-to-understand explanations of all of the key principles, concepts and technical trading techniques that can help an individual investor to master the trading disciplines used by successful professionals. Key chapter subjects include: Planning the Trade; Building a Checklist; Reading Momentum; Maximizing Reversals; Swing Trading; Shadow Trading; Band Running; and Calculating Risk vs. Reward. A key feature, the large-size, easy-to-read-and-understand technical analysis charts are perhaps the most easily accessible in the industry today.
Chalk Talks for Traders –Easy Xs and Os from a Proven Market Pro is based on the accumulated experience of Storer, who has been a professional trader and trading coach for nearly 40 years. Most of Storer’s efforts have concentrated on commodity futures although he is also very experienced in stocks. His basic approach to trading is to use technical indicators with a watchful eye trained on the fundamentals that drive the markets. Storer is an expert at predicting the direction as well as the duration in time and distance that markets travel. His trading methods are consistently simple and contain a high degree of reliability because they are designed to fit a working environment. Storer is the director of trading for the commodity division of Dillon Gage Inc., a full service brokerage firm based in Dallas, Texas.
MEDIA ADVISORY:
For a review copy of Chalk Talks for Traders – Easy Xs and Os from a Proven Market Pro, or to arrange an interview with Storer, please contact: Jo Trizila, TrizCom, at (972) 247-1369 or (214) 232-0078. To pre-order Chalk Talks for Traders – Easy Xs and Os from a Proven Market Pro go to: http://www.chalktalksfortraders.com/index.html .
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Contact:
Jo Trizila, TrizCom Inc., jo@TrizCom.com Office: 972-247-1369
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The Power of Bullion Gold Bars
Jun0
The word bullion, when applied to precious metals, means bulk forms valued for mass and purity and not at face value as money. Bullion gold bars are traded in commodity markets, while gold bullion coins make their rounds amongst collectors. The purity of bullion varies, except for gold 99.99% purity is the norm. Examples of gold bullion coins are the South African Krugerrand, Canadian Maple Leaf, Australian Nugget, Britannia, and American Gold Eagle.
Gold investments are usually purchased as hedges against inflation and industrial downturns. Gold values alter tiny, implying that a gold investment purchased with your local currency will still have a high value even if your local currency somehow loses most of its price. As an example, let us consider a rich man in his home country. He buys gold bullion bars, just to be safe. War breaks out, his nation’s economy crashes, and he is forced to leave his country. With the gold bullion bars, he is able to start a new life somewhere else without trouble, as his monetary resources are secure. If he had brought cash with him, it’d be of little value, what with his country’s economy down the drain. This is by miles the most valued property of gold bullion : its liquidity or simplicity of conversion to cash anywhere in the world makes it a universal currency that holds kind of the same price at any time.
Gold does not react simply with other elements or compounds, so a gold bar or gold coin will maintain its mass under normal conditions. Bullion gold trading is controlled largely by the London Bullion Market Association or LBMA for short. The LBMA is a group of bullion trading firms and international banks that set the price for gold around the planet. The costs are set daily with the London Gold Fixing, a phone meeting among five of the LBMA’s members. While the physical trading of gold is done all around the world, much of the wholesale trade is cleared through the LBMA. As of the time of this article’s writing, gold is priced at just about Dollars 890.
Majority of gold trading occurs in the towns of London, NY, in descending order of trade volume. The sole real thing in descending order of a valuable metal to drop is the value of a new source or process that makes production less complicated. Aluminum, as common as it is today, is used to be more expensive than gold. The invention of the Hall-Héroult process caused aluminum to permanently lose almost all of its value. Gold still remains rare, so its worth as an investment will continue for the foreseeable future.
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