While the media continues to report heavily on the negative effects of the global financial crisis, a selection of expert traders from around the world are about to show Londoners some of their most reliable money-making trading strategies.
Top trader Nick McDonald, founder of the Trade with Precision seminar series (www.tradewithprecision.com) and organiser of the Trading Symposium says that contrary to the opinion of the largely misinformed public, this is not just a great time to be a trader… it is actually the best time in years.
“Market conditions have never being more suited for someone with a little knowledge, a computer and a broadband connection,“ he says.
“There is money to be made in all market conditions, and just because most of the reports we’re hearing are about investment banks with poor risk management skills losing money, it doesn’t mean there is not money to be made. Trust me, there is a lot of it out there!“
Expert US hedge fund trader Larry Pesavento will be topping the bill with Nick. He also sees the downturn as an opportunity to profit from.
“After trading for over 46 years it seems that the trading gods have granted my wish: the perfect volatility for pattern recognition swing trading,“ he says.
The patterns Larry refers to are a form of technical analysis, analysing chart patterns to predict the probability of future price movements. This is a tool commonly used by short timeframe traders, which he will demonstrate in real-time at the Symposium.
Online trading is currently experiencing a boom as members of the public take advantage of the welter of online trading platforms available, which give them the same accessibility to the markets from home as professionals enjoy in the City.
Other traders taking the podium include Emilio Tomisini, an Italian prop trader famous for his specialty of ’Trading on auto-pilot’, effectively letting his computer execute his full trading strategy for him.
Emilio believes that the current market volatility offers great opportunities to trade intraday via automated systems.
“This approach can make shocking profits in these conditions if you have an edge to beat other traders. And mechanical trading offers the most powerful edge for the average trader!“ he says.
TV financial commentator Tom Hougaard will also be on hand to discuss his technical trading approach, explaining how market conditions affect traders differently, according to their trading styles.
“Buy-and-hold is dead while we’re in a bear market,“ he says. “Only a swing trader can make consistent money in this environment and knowing how to read the market is the first step towards making money“.
Swing trading refers to holding short-term trading positions, usually for days or weeks as opposed to buy-and-hold style investing which can require positions to be held for years.
Trading coach, Steve Ward, who formerly provided psychological support to Olympic athletes, will also offer his expertise on managing the sometimes overbearing pressures those dealing with the markets on a daily basis can experience.
Having just finished working on the BBC show “Million Dollar Trader“, Steve knows only too well the increasing strains that market turbulence is placing on traders.
“At times like this, being able to maintain confidence, focus and discipline and withstand stress will ultimately separate those who thrive from those who don’t!“ he says. “Tough times don’t last, but tough traders do!“
Tickets are available to purchase from: www.tradingsymposium.com, priced at £99 online, and £150 on the door. The venue is Mayfair’s Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT. Registration opens at 07.45.
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