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I attended The Traders Expo in Pasadena on June 3rd, 4th
and 5th and it was quite an interesting event for trader like
me.
The event was sponsored by various education companies and brokers.
It had many 45-minute sessions with different subjects related to stock,
option, futures and currency trading. I basically focused on stock and
option trading sessions because that is what I am trading at the moment.
Some sessions opened at 6:30 A.M. in the morning
so they could do live trading at the beginning hour of the stock market.
It is always exciting to look at live trading with real money. In my
opinion, when an instructor is confident enough to use his own product
and knowledge to trade with his own money in front of his students, he is
truly a real trader, not just a sale person.
There are many education companies with different trading
approaches and philosophies. Day trading, short term trading, long term
trading, capital gain trading, income trading, they have them all. Some
companies believe in the indicators such as Moving Average Convergence
& Divergence (MACD) and Stochastics. Others focus on price, volume,
support and resistance. There are companies don’t even care about the
charts at all. They concentrate mainly on probability. I personally think
a trader has to pick his/her own trading method and philosophy in order
to be an effective trader in this highly competitive market. As I said in
my other investment articles, there is no “universal formula” for every
trader. Traders have to pick their own trading styles based on their
trading philosophy and risk tolerance. Using too many tools only
increases the confusion and makes the trading more complicated.
Just like other careers, learning how to trade is a never ending
task. I will continue to learn and to improve myself as a trader as long
as I intend to stay in this trading business.
Dennis
Phan 潘家墉
Los Angeles,
California, U.S.A., 18 June 2009
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