I had the opportunity to attend a training program of Van Tharp institute on Trading psychology. I expected Van to take the course, while it was unfortunate that he could not make it and the program was conducted by RJ Hixon.
The three day workshop was filled with tons of learning. Made me learn that the already strong belief in me that we attract what we believe, even stronger. The course went through consciousness, oneness, meditation etc.,
A little spiritual while giving a clear picture on why it is required to be successful in trading. I was having a belief that 30% per annum returns in equities is a big number for a trader, which was quashed. The super traders trained by Van easily cross 100% in a year and they repeat it year on year.
This made me get interested to get couched to become a super trader. My next steps will be in that direction.
The discipline of following the rules of the trading system is what is required to be successful in trading. We need 95% trading accuracy to achieve big, this was a big revelation to me. At first it seems simple, while going deep into actual trades I find that even one small mistake brings down the efficiency number and then for it to get out, it takes several number of trades.
It made me realize that, how sharp a trader needs to be if he had to get big numbers in profits. Learning about SQN’s (System Quality Number), this number helps us know how much of risk has to be exposed to a trade. SQN also helps us quality a trading system for actual use.
SQN can also be used to find the market type like Bullish, bearish, volatile, quiet markets which will help in using the right system for each market. I learnt that there are 4 market types and we need 4 different systems to trade each of the market types.
We played a trading game using marbles, it was a trilling experience. In the game we learnt that even with 19 losing trades a system can give positive results if we have right risk exposure. Risk exposure determined as position sizing was an unique way to take risk on the system. It helps us achieve the objectives of the system.
Buying and selling is only a part of the trading activity, the actual gains come only from position sizing. Using position sizing we can achieve immense profit potential. Using the record of trades with their outcomes we can even judge where to risk more and where to be lesser. This will help in minimizing losses and maximising gains.
I got the inputs on creating a detailed business plan, which runs into more than 250 pages of information. Once the plan is made, it will act as a bible to the trading rules for the person who is trading.
All the inputs that I learnt from this training has brought me a lot of confidence on achieving big profit numbers from my trading activity. I have also devised plans to use the same methodology to invest in mutual funds. It will help our clients make higher returns on their investments in the market.
I was blessed to have 2 oneness blessings in the program, which was very powerful and brought a sense of peace and clarity in the mind. Looking forward to attend more trainings and get to the level of a Super Trader soon.
IN the program I happened to meet several successful traders across asia and Australia. Andrews, a successful palm oil Business owner from Malaysia, Glady’s, a new entrant into forex trading from Indonesia, Chuky and Jullian from Australia, who brought in thoughts of poker and risk management concepts that they are using, which were very useful inputs.