How the Big Dog Thinks
I’ve spent the last couple of days with our head trader at Trading University, Al Gaskill, helping to put together our Trading 201 course. And it has definitely been an eye opener into how a trader who routinely trades a $1,000,000 at a clip in 12 different pairs thinks. The most impressive attribute is how quickly he sees things and dismisses them. Equally impressive is how he uses both price action and the indicators. He can look at a set-up where I see 4 criteria to take a trade and he’ll spot that one nuance that will cause him to pass. “Nahhh”, he’ll shake his head, “Look at that Weekly Pivot..yer in no man’s land…and with negative divergence too…no cigar”. Or, “Look at yer daily chart, yer practically in a sides range…you don’t want to be going long here”. And later on I’ll look at the trade and sure enough he was right. He also has the benefit of 12 screens and always keeps just one chart per screen on his machine so he has a lot more info/time in front of him than most traders. And there probably aren’t too many traders around with the amount of time spent on the screen as him. From the London open to the NY close, from Forex to commodities to stocks he’s at it all day. When I think about how skilled he is, and how much experience he has, I start to understand why so many fail. Up against traders of his caliber and appetite, not many stand a chance.
Trading is a dog eat dog world. And the scary part is, there’s always an even bigger dog around the next corner.
Jay Norris
www.trading-u.com