Successful US trader and author Steve Burns runs the newtraderu.com blog, which I highly recommend to all traders. Steve calls himself a 'trend trader' rather than a trend follower, but the basic principle of identifying and following a trend still applies.
Showing posts with label Steve Burns. Show all posts
Showing posts with label Steve Burns. Show all posts
Friday, November 30, 2012
Saturday, July 28, 2012
Quotes from Ed Seykota
Anyone who has followed this blog for a while will know of my admiration for trading legend and Market Wizard Ed Seykota (refer to my post here), who has been a great inspiration to me.
Sunday, May 27, 2012
My interview with Steve Burns
Steve Burns is a successful US-based trader, and a trend follower to boot. His latest book, New Trader, Rich Trader is top of the stock market/investing Hot New Releases list on Amazon, and follows the story of how a trader new to the markets grows and develops following mentoring and lots of wisdom from his friend Rich Trader. Perhaps unsurprisingly, the books focuses on risk management and trading psychology before turning attention to the mechanics of entries and exits (a bit like my own e-book!). There really are no shortcuts to long term trading success, and I would recommend grabbing a copy of Steve's book - it is a light, enjoyable read as you follow New Trader's progress.
The pattern here is similar to my own mentoring programme, which can help inexperienced traders keen to learn develop and make money. We have both commented on how similar our own learning experiences and development have been, together with our emphasis on trading psychology and risk control.
I have had the pleasure of corresponding with Steve and recently completed a Q&A interview which he has posted on his own web site, which is also recommended reading. The interview is here.
The pattern here is similar to my own mentoring programme, which can help inexperienced traders keen to learn develop and make money. We have both commented on how similar our own learning experiences and development have been, together with our emphasis on trading psychology and risk control.
I have had the pleasure of corresponding with Steve and recently completed a Q&A interview which he has posted on his own web site, which is also recommended reading. The interview is here.
Monday, May 26, 2008
What is your Portfolio's Heat?
NOTE: edited July 2012
Ed Seykota has talked about the concept of portfolio 'heat', which relates to the overall risk of your portfolio. For example, if you have 5 trades open, each with a risk per trade equal to 2% of your equity, then the 'heat' of your portfolio is 10%. I have come across this interesting study here, which shows the effect of adjusting results from a trend based system by altering both the risk percentage per trade, as well as the overall heat of the portfolio.
Ed Seykota has talked about the concept of portfolio 'heat', which relates to the overall risk of your portfolio. For example, if you have 5 trades open, each with a risk per trade equal to 2% of your equity, then the 'heat' of your portfolio is 10%. I have come across this interesting study here, which shows the effect of adjusting results from a trend based system by altering both the risk percentage per trade, as well as the overall heat of the portfolio.
Subscribe to:
Posts (Atom)