trader education
Peter Davies / 1 min read
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Trading Group Therapy - Trading Backwards - 23 Oct 12pm EST

Jigsaw Group Therapy Sessions have taken a backseat to the charting project over the past 6 months but it's time to get started again. Next session is 23rd October 12pm EST. Click here to register.

In this session, we'll discuss "Trading Backwards" - a process where aspiring traders make decisions in completely the wrong order, helping ensure their failure. 

Let me give an example - this week I had a friend call and say, "I need to learn options" and my first response was "No, you need to learn what makes things go up and down". Options are just one of many ways you can leverage your skills in setting expectations. 

This got me thinking about other regular discussions I have with traders where just switching things around would make a huge difference. I thought we'd discuss this in our next session. Remember - Group Therapy sessions are interactive; you can send through questions ahead of time.

The rough outline of the discussion (which kicks off with my thoughts first) will be:

  • Macro Futures vs Individual Company Trading. Non-trading skills that may help. Finding your niche, Execution challenges.
  • Backwards Market Selection.
  • Trade entry rules - How vs Why.
  • Backwards Trade Management.
  • Psychology - You ain't Tiger Woods yet!
  • Avoidance - The essential skills that stay off your list permanently.

The session will be on 23rd October, 12pm EST.Click here to register.

 

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HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT TRADING RESULTS.