Your Questions About Successful Trading System

Maria asks…

Momentum Trading……………………?

I only know of elder’s impulse system for momentum trading.

What other methods are common or successful?

thanks

John answers:

I’m sorry I cannot answer your question more appropriately, however the answer before mine is so blatantly mind dumbing I had to write something!

I am not familiar with any particular momentum trading systems however if you are looking for a technical analysis system, I suggest strongly incorporating the RSI (14 or 21 day) with a stochastic chart. I trade stocks and options and have found that using these two technical analyses together usually yields positive results.

I know this didn’t answer your question per se, but hopefully it was helpful to an extent!
Good Luck!

Donald asks…

STOCK TRADING COURSE IN GURGAON?

Megamind Institute of Financial Markets Pvt Ltd (MIFM) offers courses both for students and professionals. For the former aimed at knowledge enrichment and job employ ability and for the latter focused at personal development within their domain and growth. Need we say more?

CFP Certification:
It is an internationally recognized certification which upgrades the knowledge of all aspects of personal finance. It is one of the fastest growing professions across the world. It signifies the importance of understanding the complexities of the financial products and services. It is a mark of big picture approach which is a pre-requisite for giving solution to the long-term financial problems of different individuals.

Technical Analysis:
If reading the pattern of stock market behavior is a problem for you, this course is the solution. It provides you tools for managing trading position. Its about generating tips & tricks for intra-day trading by using technical analysis. It provides you intensive training on how securities , price of equities , commodities etc. behave seeing the past behavior patterns of the markets and how to exploit that information to make money while avoiding losses.

Certificate in Stock Trading And Operation:
With the volumes being traded in the markets at all time high, interest of foreign & small domestic investors, stock markets are the buzz of newspaper headlines. CSTO course is specifically designed for its acceptance in the field of stock market and hence a competent day trader.

Certificate In Commodity And Currency Trading:
The legacy of Commodity trading was given to the world by India. The increased participation of India in world commodity trade has fuelled the demand for professional commodity traders. The Currency market in India has witnessed tremendous growth within one year of its inception. The Currency and Commodity market being niche financial market require trained professional and expertise.

CFA:
The CFA charter is respected as the gold standard of professional credentials within the global investment community. Administered by CFA Institute, the CFA Program offers you a graduate level curriculum and examination program intended to expand your working knowledge and practical skills relating to investment decision-making. Successful completion of the program and its requirements will earn you the CFA designation, one of the profession’s most valued credentials.
About Level I and Level II classroom training:
–Special question bank of CFA Level 1 and Level 2 with detailed solutions
–100 hours of classroom instruction, and 10 hours of personalized one-on-one instruction depending upon the areas in which one needs specific help.
–Access to a data-bank of last 5 years’ real CFA questions. First of its kind in India.
–All the classroom teaching content and methodology designed by Expert Faculties.
–Unlimited personalized doubt clearing with Faculty.
–Small batch sizes for Personal Attention.
–Special Performance Tracker System to track your performance throughout the course
–Complete mental training given to have the best possible execution in the “real six hours”.

If you have any queries please do contact us. You can write to us, e-mail us or telephone us at the following address.

MEGAMIND INSTITUTE OF FINANCIAL MARKETS.
M – 8, 1ST FLOOR OLD DLF COLONY, SECTOR – 14,
GURGAON.
www.mifm.co.in

John answers:

Check out http://www.amazon.com/gp/product/B003G4OJPY for practice CFA exams

David asks…

I feel depressed when I see successful people in walks of life?

I wanted to be a Doctor. Could not. I make Govt. responsible for reserving majority of Med. school positions to students belonging to other castes (yes Indian caste system). I see that students who are not qualified to become doctors became doctors and I could not. I know what I am capable of.
Rather I went to top school to do get a PhD. I work as a non-tenure faculty member in biological research. I get good pay. Yet when I see people in my own area of research, other trades or any successful people who have money and positions, I fee very depressed. I feel sometimes I am worthless.
I am looking for some resources such as self-help to conquer my inner fear, negative approach before it I get dragged deep into dark tunnels. what books or resources do you suggest. thanks

John answers:

Try to be succesful as well so you won
t hate but participate

Thomas asks…

Why are so many of our future skilled tradesmen and women expected to spend three years at University?

Should the UK Government now revert back to an education system that strongly encourages apprenticeships in engineering, design and the utility services eg plumbing, rather than encouraging everyone to study for a degree at Uni.?
Many graduates are now discovering that an academic qualification is no longer a key to a successful career. Instead, trade qualifications can provide life long career development, and often big earnings as well as positions on the Board of Directors.
Perhaps it might be the start of a new Industrial Revolution here, with far less service industry, and much more engineering development and production.
What do you think in the UK? Does this situation exist in the USA?

Apologies for the big question!!

John answers:

More or less cosmic

I totally agree with you. Forcing all kids down the academic route is part of the problem we currently have in schools. Those who are not very academic have no outlet for any other skills they may have, so become bored and disrupt the rest of the class. They end up leaving school at 16 with very few qualifications, no skills and become disillusioned with the whole system.

Kids should be able to choose at an earlier age which route they would prefer to take. Those who enjoy the more vocational courses could go down that pathway leaving the classrooms quiet for the bookworms. So long as all kids receive a basic education in the important subjects I don’t see what the problem is.

As for Beans/UK above – you need to change your reading material. Cancel your subscription to the Daily Mail or BNP Weekly, wake up and smell the coffee! A few years ago you couldn’t find a plumber, and when you did you had to pay them around £85 a hour. Luckily a load of Eastern Europeans came across so that is no longer the case. Everyone has had to become more competitive, but the general public have benefitted from this.

Free trade and free movement across all continents! Bring it on!

Good luck!

Linda asks…

How many pips does the average retail forex trader make?

I’m trying to trade forex on my own, with 3 strategies based primarily on technical analysis, supplemented by fundamental analysis. I’ve developed these strategies through homework, lots of reading and just a bunch of research. I bought a system in the past and got burned. Now I’m doing it myself. Does anyone know the honest average range of pips professional retail traders make every month? My impression was that they make an average 250-500 pips a month. Not to say they do that every month, it’s just the result when averaged out. Right now, after 2 months of trading, I’ve made a little over 200 pips and I’m hoping to maintain that and improve to the 250-500 pip average a month range. Is that realistic? Ideal? What should be my target monthly average to be a truly successful forex trader.

John answers:

It is not wise to have a monthly pip target. If you fall behind your average it is easy to freak out during the last week of the month and make irrational decisions based on greed or fear. The easy way to target your trading is to set a daily pip target or what I like to call a Minimum Acceptable Target (MAP).

15 pips seems to be a conservative daily goal that if hit, will give you over 300 pips per month.

The definition of a “successful Forex trader” is in the eyes of the beholder. What is successful for one might not meet the expectations of another. Personally, I like having a target of increasing my investment portfolio by at least 8% per month.

Good luck with your strategies.

Paul

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