Oakville Chapter of The Canadian Society of Technical Analysts
Oakville Chapter of
The Canadian Society of Technical Analysts
Durham Chapter of The Canadian Society of Technical Analysts
Meeting Sept 13, 2017
Presenter - Edmond Wong (Toronto North CH)
Topic - How I Train Traders
This year we developed our first London Session Trader in 7 months. This is how we did it:
February - Profitable Trading Principals Only
There is so much information about trading that paralysis-by-analysis is too common, especially with beginners. The first step was to unlearn everything except profitable trading principals (Trends, Strategies, Levels, Confirmation, Risk Management).
March - Black & White Trading Plan
There are many choices in trading. Some are profitable, and some are more profitable. Those choices are always founded on very simple choices... long or short... enter or exit. Before winning the race, we need to get on the track. Having a black & white trading plan was essential to trading profitably ASAP.
April - Practice Trading
Before we are allowed to drive on our own, we must drive with drivers. We treat trading the same. Before risking our own hard-earned cash, trade with other traders to see first hand what bad trades (i.e. Stops), good trades (i.e. 2x to 4x), and great trades (i.e. +10x) look like.
May - Building Your Own Trading Plan
Everyone drives differently. Everyone cooks differently. Everyone speak differently... even if only a little. Trading is no different. We will all trade differently. It's important to build a plan on our uniqueness, or we won't be truly comfortable with it. Being comfortable with our plans gives us the emotional confidence to trade it, trade it a lot, and trade it a lot more!
June + July - Practice, Practice, Practice
We paper traded Tokyo, London, and New York Session everyday. We mock traded on the weekends. We back-tested when there were no trades.
August - The Offer
In August we made the offer... Ink And Eve takes 100% of all Losses, and we split the Gains 50:50.
Bio:
Edmond Wong is the founding principal of the prop-firm, Ink And Eve. Our business isn't only trading... our business is buying trades from our traders. We train traders to trade profitably for themselves, so that we can buy their trades, and duplicate it. This has been our model since 2012, and this year we developed our first London Session Trader in 7 months.
