Trading Courses & Coaches II

I visited Michael in late August 2009, and took some pictures of him and his class. The pictures were meant to go with this post here. I couldn't upload them on my laptop then. Towards the end of 2009, D built me a brand new pc, and helped me transfer and upload all the data from my laptop and mobile onto the new machine.

It took me 3 months to figure out where everything went...

Anyway, I recovered the pictures. You can find them at the end of this post.

Local Trading Coaches

If you live in Singapore, and are looking for an affordable and quality basic trading course, go to Michael. He has traded for more than 30 years, and knows way more about the market than many local over-hyped and overpriced trainers.

Michael is no showman; he merely shows you exactly how he trades.

Michael is calm, and he will teach you how to be calm in trading.

I've not spoken with Michael since late last year, but I'm sure he's still charging less than half of what the most expensive trainers are charging here.

Michael is a trader ie. his trading profits are his main source of income. Teaching is his hobby (I'm not kidding - Michael loves people).

So here's someone who is with the market EVERYDAY, is immensely wise and calm - and he likes to share with you how he does things like turn USD 3k into USD 11k in 30 days. You spend 5 months with him, and he charges you a 4-figure amount that doesn't start with the digit "2". If you know of any deal sweeter than this, I'll like to know (If you are reading this via my Facebook account, you can always drop me a message).

For those considering an online course, Austin is a great choice.

Again, I am NOT Michael and Austin's affiliate ie. I do NOT get a referral fee if you sign up. I'm recommending them because I like what they do, and I like them for who they are: persons with integrity.

There are profitable TRAINERS, and there are profitable TRADERS. You want to learn about trading from the latter.

And here's Michael:

Austin's ES Trades 1/13 (Wed)

I simply have to post the video (on Austin's blog today) below. Watch the entire video, you'll find out why (something to do with me being totally vain).

Seriously, there's a load of info and the usual very sound advice. You'll see charts of ES, crude oil, TF, gold and ZS (soybean) from yesterday (wed)'s trading and Austin discussed each (with special attention paid to ES). He talked a little about scaling in and scaling out. You'll find more on the topic here. Click on the link for "Partial-Profit Exit Approach".

I'm not selling Austin. As a matter of fact, I don't sell anything other than futures. The only 2 traders that teach whose advice I heed are Michael Woo and Austin, and I have no qualms about advocating their trading philosophies simply because they are sound. The other seasoned traders who are equally generous in imparting advice on trading and whose trading styles are suitable for individual retail traders to adopt and adapt are - just to name a few - Long and Wrong, Solfest, Trader Gav, Trader-X and FX Madness. Do read them.

Everest Or K5?

One of Austin's videos that I really like.



You can find his other videos here.

Many reading this post are going to start hating me - that is, if you don't already. And that's fine. I'm not here to please. I like to speak my mind, and I like to share what has been of value to me.

I mean, I did mention that this is MY DIARY.

I'm not Austin's client, and I do not benefit in anyway from your accepting his philosophies and beliefs in trading. The main reason that I'm "promoting" Austin's teaching is that I have nothing else better to do. Market's dead, I need a break in between my studies, and I'm extremely annoyed by people out there who don't trade themselves but yak a lot of crap about trading that's rather TOXIC.

Before you dismiss what I have to say about holding for profits and trading multiple instruments, be reminded that I have been a scalper myself who used to trade just the ER2, then the ES ONLY. I made money in my first year of trading scalping the ER2 - that was Aug 2008. I fumbled it in 2009, although the damage was not catastrophic FOR ME. I still scalp well today - if I don't overtrade, and if I don't hear from my mum, I make money 90% of the time. But the 10% of the time that I had messed up, I had put a huge dent in my trading account. It would take me a long time to recover from the shock of such drawdowns, and it would take me a very, very long time to recover the money that was thrown away, simply coz my profit for each trade was just too minuscule compared to my cost of trading ie. the wide stops that I used.

I'm not the type to stick with something that doesn't work. I have the habit of constantly throwing out things - including methods, systems, theories, hypothesis etc etc that I have painstakingly put together - once I'm satisfied they are a waste of my time.

But that's just me of course. I'm not suggesting that that's THE WAY to learn. What I'm saying is that there's a lot of garbage out there and it's so important to periodically sift through what's in your knowledge bank and be able to tell the junk from the gems and be willing to just toss out the former in a heartbeat.

I do not condemn scalpers. But I do condemn those who are in a position to scalp an instrument like the ES (for instance, market makers & REBATE traders) who encourage the average retail traders to take that route. Scalping is just NOT for everyone.

Here , and here are easier reads on rebate trading.

Trading Courses & Coaches

Revisiting an issue that I hold dear to my heart: Good Coaches vs False Teachers

Austin's starting his 5k (correction: just noticed it's 2.5K... Unbelievable...) project in Jan 2010. Am excited to see how it turns out.

D took a 1 point winner trading the TF on Thurs while listening to Austin. He usually runs after 3 ticks MAX.

I always say we tend to listen to strangers and acquaintances.

But who can blame us?

Family sabotages.

Except you, Seabloke, of course... I am still invited to CNY reunion dinner... RIGHT???