Thursday, September 06, 2012

Some nice comments from other trend followers

The bias in the markets over the last few weeks has been to the long side, while still having some short positions open. Despite the choppy uptrend and the low trading volume, this has generated decent profits over the last few weeks. 

Today the markets moved up significantly following the news announced by the ECB. This has only helped to increase the profits in our existing positions. How long this uptrend will last is anyone's guess, but while it lasts we will avoid trying to be 'clever' by trying to pick a top in the market and will stay in out positions until we get appropriate exit signals.

It is not only me that been able to benefit from these trades - members of the mentoring programme who have had 1-2-1 training, readers of my e-book or people who have attended one of my webinars have been able to profit from the same signals, in the same equities. As a result I've received some nice emails from a number of people this week, and some of the comments are shown below:

“Portfolio up over 6% today!! Funny how ignoring the news and following the guidelines can mean you ignore Bloomberg and still capture the moves!” Member of mentoring programme, UK

“Having only just jumped back in again one of my early picks, has reminded me of the pure simplicity of the strategy. Its gone up a fair bit, why I don't know or care, I can't even be bothered looking at ADVFN to see news on it. Lovely to be this carefree with Guaranteed stop in place.” One of the first traders to purchase my e-book, UK
"All I can say is that I am really truly enjoying your trend following system, this has been the most successful trading I've ever had since I started spread betting!

I have definitely noticed that my trading psychology has changed too since using your trading system. As I mentioned in your webinar that I only really used to trade using fundamentals and use charting for historical prices etc.; what I have noticed is that my head is a lot 'clearer' now as before I guess I would be thinking a lot about different stocks and their current/upcoming news and other important dates to remember etc. 

I now don't think or even read about stocks as frequently as I did before and this has helped me particularly with concentration at work because now there is a lot less going on in my mind. It feels really good, I just do my scans in the morning and adjust my stops and then not have to worry about anything for the rest of the day and get on with my job! Usually I would be reading RNS's and chat forums on different stocks and this would sometimes take a few hours out of my normal working day and also have the urge to frequently go back & keep checking on the different share prices. 

The key element for me is taking the worry out of my days, the morning scans will find stocks worth looking at for a possible trade and not having to worry about continuously looking for stocks to trade from multiple sources & so-called 'broker tips' and worry about when should I buy or sell!” Webinar attendee, UK

Trend following is not new, and the majority of what I teach and use in my own trading is used by other trend followers. I am glad that I have been able in a small way to help and guide others to see that simply following the price can work. At the end of the day though, these other traders deserve the credit for allowing themselves to open up to new ideas, implement rigorous risk controls, be consistent in their approach and reap the rewards.

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