Top 7 Perguntas sobre troca de moeda respondidas Embora o forex seja o maior mercado financeiro do mundo, é um terreno relativamente desconhecido para os comerciantes de varejo. Até a popularização da negociação na Internet há alguns anos atrás, a FX era principalmente o domínio das grandes instituições financeiras. Corporações multinacionais e hedge funds secretos. Mas os tempos mudaram, e os investidores individuais estão com fome de informações sobre esse fascinante mercado. Se você é um novato FX ou apenas precisa de um curso de atualização sobre os conceitos básicos de troca de moeda. Continue lendo para encontrar as respostas às perguntas mais frequentes sobre o mercado forex. Como o mercado cambial difere de outros mercados Ao contrário de ações, futuros ou opções, a negociação de moeda não ocorre em uma troca regulada. Não é controlado por nenhum órgão de governo central, não há câmaras de compensação para garantir os negócios e não há painel de arbitragem para julgar disputas. Todos os membros trocam entre si com base em contratos de crédito. Essencialmente, os negócios no mercado mais grande e líquido do mundo não dependem de um aperto de mão metafórico. À primeira vista, este acordo ad hoc deve parecer desconcertante para os investidores que são usados para trocas estruturadas, como NYSE ou CME. (Para saber mais, consulte Como conhecer as bolsas de valores.) No entanto, esse arranjo funciona muito bem na prática porque os participantes no FX devem competir e cooperar entre si, a auto-regulação oferece um controle muito efetivo sobre o mercado. Além disso, revendedores respeitáveis FX de varejo nos Estados Unidos tornam-se membros da Associação Nacional de Futuros (NFA), e ao fazê-lo, eles concordam em arbitragem vinculativa em caso de disputa. Portanto, é fundamental que qualquer cliente de varejo que considere negociar moedas faça isso somente por meio de uma empresa membro da NFA. O mercado FX é diferente de outros mercados em algumas outras formas principais que certamente aumentarão as sobrancelhas. Pense que o EUR USD vai para a espiral para baixo. Sinta-se livre para reduzir o par à vontade. Não há nenhuma regra no FX, como existe em ações. Também não há limites no tamanho da sua posição (como há em futuros), então, em teoria, você poderia vender 100 bilhões de dólares em moeda se você tivesse o capital para fazê-lo. Se o seu maior cliente japonês, que também acontece com o golfe com o governador do Banco do Japão, informa-lhe no campo de golfe que a BOJ está planejando aumentar as taxas em sua próxima reunião, você poderia ir à frente e comprar tanto o iene quanto quiser . Ninguém nunca o processará por insider trading se a sua aposta pagar. Não existe tal como o abuso de informação privilegiada na FX de fato, os dados econômicos europeus, como os números de emprego alemães, geralmente são vazados dias antes de serem liberados oficialmente. Antes de deixá-lo com a impressão de que a FX é o Oeste Selvagem das finanças, devemos notar que este é o mercado mais líquido e fluido do mundo. Ele troca 24 horas por dia, a partir das 17:00 HNE, domingo e 4:00 da manhã, e raramente tem lacunas no preço. Seu tamanho e alcance (da Ásia para a Europa para a América do Norte) torna o mercado de câmbio o mercado mais acessível do mundo. Onde é a comissão na negociação forex Os investidores que negociam ações, futuros ou opções geralmente usam um corretor. Que atua como agente na transação. O corretor leva a ordem para uma troca e tenta executá-la de acordo com as instruções dos clientes. Para fornecer este serviço, o corretor recebe uma comissão quando o cliente compra e vende o instrumento negociável. (Para ler mais, consulte o nosso tutorial Brokers And Online Trading). O mercado FX não possui comissões. Ao contrário dos mercados baseados em câmbio, a FX é apenas um mercado principal. As empresas FX são revendas, não corretores. Esta é uma distinção crítica que todos os investidores devem entender. Ao contrário dos corretores, os negociantes assumem o risco de mercado ao atuar como contraparte do comércio dos investidores. Eles não cobram comissões, em vez disso, eles ganham seu dinheiro através do spread bid-ask. Na FX, o investidor não pode tentar comprar na oferta ou vender na oferta como em mercados com base em câmbio. Por outro lado, uma vez que o preço limpa o custo do spread, não há taxas ou comissões adicionais. Cada ganho de centavo é lucro puro para o investidor. No entanto, o fato de que os comerciantes devem sempre superar a propagação do bidask faz com que ele seja mais difícil no FX. (Para saber mais, consulte Scalping: Pequenos lucros rápidos podem ser adicionados.) O que é um pip Pip significa porcentagem em ponto e é o menor incremento de comércio em FX. No mercado FX, os preços são cotados à quarta casa decimal. Por exemplo, se uma barra de sabão na farmácia tivesse um preço de 1,20, no mercado FX a mesma barra de sabão seria citada em 1,2000. A mudança nesse quarto ponto decimal é chamada de 1 pip e normalmente é igual a 1100 de 1. Entre as principais moedas. A única exceção a essa regra é o iene japonês. Um iene japonês agora vale aproximadamente US0.01 então, no par USDJPY, a cotação é levada para dois pontos decimais (ou seja, para 1100 th de ienes, em oposição a 11000 th com outras moedas principais). O que você está realmente vendendo ou comprando no mercado de moeda? A resposta curta é nada. O mercado FX de varejo é meramente um mercado especulativo. Nenhuma troca física de moedas nunca ocorre. Todos os negócios existem simplesmente como entradas de computador e são compensados dependendo do preço de mercado. Para as contas denominadas em dólares, todos os lucros ou perdas são calculados em dólares e registrados como tal na conta do comerciante. O principal motivo pelo qual o mercado FX existe é facilitar o intercâmbio de uma moeda para outra para as empresas multinacionais que precisam trocar moedas continuamente (por exemplo, para a folha de pagamento. Pagamento de custos de bens e serviços de fornecedores estrangeiros e fusão e aquisição) . No entanto, essas necessidades corporativas do dia a dia compreendem apenas cerca de 20 do volume de mercado. Totalmente 80 de negócios no mercado de câmbio são de natureza especulativa, colocados por grandes instituições financeiras, fundos de hedge de bilhões de dólares e até indivíduos que desejam expressar suas opiniões sobre os eventos econômicos e geopolíticos do dia. Porque as moedas sempre negociam em pares. Quando um comerciante faz um comércio ele ou ela é sempre uma moeda longa e curta a outra. Por exemplo, se um comerciante vende um lote padrão (equivalente a 100.000 unidades) da EURUSD, ela, em essência, trocaria euros por dólares e agora seria curto em euros e dólares longos. Para entender melhor essa dinâmica, vamos usar um exemplo concreto. Se você entrou em uma loja de eletrônicos e comprou um computador por 1.000, o que você faria. Você estaria trocando seus dólares por um computador. Você basicamente seria um curto mil e um longo computador. A loja seria longa 1.000, mas agora um computador curto em seu inventário. O mesmo princípio se aplica ao mercado FX, exceto que não ocorre troca física. Embora todas as transações sejam simplesmente entradas de computadores, as conseqüências não são menos reais. Quais moedas são negociadas no mercado cambial. Embora alguns revendedores troquem moedas exóticas como o baht tailandês ou a Coroa checa, a maioria comercializa os sete pares de moedas mais líquidos do mundo, que são os quatro maiores: EURUSD (eurodollar) USDJPY ( Dólar dólar japonês USDCHF (dollarSwiss franc) AUDUSD (dollardollar australiano) USDCAD (dollarCanadian dollar) NZDUSD (dollardollar da Nova Zelândia) Estes pares de moedas, juntamente com suas várias combinações (como EURJPY, GBP JPY e EURGBP), conta Para mais de 95 de todas as negociações especulativas em FX. Dado o pequeno número de instrumentos de negociação - apenas 18 pares e cruzamentos são negociados ativamente - o mercado FX é muito mais concentrado do que o mercado de ações. (Para ler mais, confira as Moedas de Forex populares.) O que é um comércio de transações de moeda. Carry é o comércio mais popular no mercado de câmbio, praticado pelos maiores hedge funds e pelos maiores especuladores de varejo. O carry trade baseia-se no fato de que todas as moedas do mundo têm uma taxa de juros a ela vinculada. Essas taxas de juros de curto prazo são fixadas pelos bancos centrais desses países: a Reserva Federal nos EUA o Banco do Japão no Japão e o Banco da Inglaterra na U. K. A idéia por trás do carry é bastante direta. O comerciante passa a longa moeda com uma alta taxa de juros e financia essa compra com uma moeda com baixa taxa de juros. Por exemplo, em 2005, um dos melhores emparelhamentos foi a cruz NZDJPY. A economia da Nova Zelândia, impulsionada pela enorme demanda de commodities da China e por um mercado de habitação quente, viu suas taxas subir para 7,25 e permanecer lá, enquanto as taxas japonesas permaneceram em 0. Um comerciante que passou o NZDJPY poderia ter colhido 725 pontos base de rendimento sozinho . Com base em alavancagem de 10: 1, o carry trade no NZDJPY poderia ter produzido um retorno anual de 72,5 de diferenciais de taxa de juros. Sem qualquer contribuição da apreciação do capital. Agora, você pode entender por que o carry trade é tão popular. Mas antes de se apressar e comprar o próximo par de alto rendimento, esteja ciente de que, quando o carry trade for desenrolado, os declínios podem ser rápidos e severos. Este processo é conhecido como liquidação de carry trade e ocorre quando a maioria dos especuladores decide que o carry trade pode não ter potencial futuro. Com todos os comerciantes que procuram sair de sua posição de uma vez, as propostas desaparecem e os lucros dos diferenciais das taxas de juros não são suficientes para compensar as perdas de capital. A antecipação é a chave para o sucesso: o melhor momento para posicionar no carry é no início do ciclo de aperto de taxa, permitindo que o comerciante faça o movimento à medida que os diferenciais de taxa de juros aumentam. (Para saber mais sobre este tipo de comércio, veja Currency Carry Trades 101.) Bottom Line Cada disciplina tem seu próprio jargão e o mercado de moeda não é diferente. Aqui estão alguns termos para saber que vai fazer você parecer um comerciante de moeda experiente: Cabo. Esterlina. Pound - nomes alternativos para o GBP Greenback. Apelidos de dólar para o dólar americano Swissie - apelido para o franco sui Aussie - apelido para o dólar australiano Kiwi - apelido para o dólar de Nova Zelândia Loonie. O pequeno dólar - apelidos para o dólar canadense Figura - o termo FX connota um número redondo como 1.2000 jardas - um bilhão de unidades, como na que eu vendi alguns metros da libra esterlina. Quando as despesas totais de um governo excedem a receita que ele gera (excluindo dinheiro de empréstimos). O déficit difere. Em geral, uma estratégia de publicidade em que um produto é promovido em meios que não sejam rádio, televisão, outdoors, impressão. Uma série de regulamentos federais, afetando principalmente instituições financeiras e seus clientes, passou em 2010 em uma tentativa. A Gestão de Carteiras é a arte e ciência de tomar decisões sobre mix e política de investimentos, combinando investimentos para. Uma configuração de casa conveniente onde aparelhos e dispositivos podem ser controlados automaticamente remotamente de qualquer lugar do mundo. A estratégia de selecionar ações que negociam por menos do que seus valores intrínsecos. Os investidores de valor buscam ativamente ações de. Os comerciantes de vários milhões de milhões compartilham seus pensamentos sobre negociação A chave é consistência e disciplina. Eu não acho que alguém acabe ganhando dinheiro neste negócio porque eles começaram com sorte. Para o lendário comerciante Richard Dennis, a importância de ser consistente não é apenas uma teoria. Em 1984, em uma aposta, Dennis treinou 23 indivíduos da rua para seguir religiosamente um conjunto de regras comerciais. Seu objetivo era fornecer que a disciplina fosse a chave para o sucesso comercial. Todos, exceto 3 desses comerciantes iniciantes, fizeram mais de 100 e retornaram seu primeiro ano de negociação e Dennis ganhou sua aposta de 1.000.000. A disciplina consistente também é o que é ensinado no serviço de consultoria Futures in Motion. Sua perseverança declara Tom Baldwin, que começou com 25 mil e fez milhões incontáveis negociando mais de 2 bilhões de dólares por dia nos futuros da T-Bond. Sua perseverança. Você não precisa de nenhuma educação para fazê-lo porque é como qualquer trabalho. Se você ficar há tempo suficiente, você precisa retirá-lo. Na maioria das contas, Tom Baldwin pode ser o maior comerciante individual no poço T-Bond e Tom atribui seu sucesso à perseverança. Este é um princípio em que o Futures in Motion se baseia. De acordo com Tom, você não precisa de educação especial para se tornar um super comerciante. Ken concorda e acredita que, se você apenas segui-lo todos os dias, eventualmente você precisa retirá-lo. É uma circunstância feliz que, quando a natureza nos dá verdadeiros desejos ardentes, ela também nos dá os meios para satisfazê-los. Aqueles que querem ganhar e falta de habilidade podem conseguir alguém habilitado para ajudá-los. Sempre usar paradas recomenda Michael Marcus, que transformou 30.000 em 80.000.000. Use sempre paradas. Quero dizer, realmente colocá-los, porque isso o compromete a sair em um certo ponto para ser um comerciante competente e ganhar dinheiro é uma habilidade que você pode aprender. Peça a alguém com habilidade para ajudar a aconselhar Ed Seykota, que realizou 5.000 em 15.000.000 commodities comerciais. Ed Seykota vive em Lake Tahoe e troca de seu escritório com vista para uma vista de beleza incrível. Eds que vivem sua vida exatamente como ele quer e o gentil filósofo dentro dele deseja que você desfrute do mesmo privilégio. Para Ed, é uma questão simples se você tem um verdadeiro desejo ardente, tenha alguém com habilidade para ajudá-lo. Ken Seehusen e o serviço de consultoria Futures in Motion se encaixa no bilhete. O MarketClub é o seu passaporte no excitante e às vezes super lucrativo mundo de comércio, onde transformar um bankroll pequeno em uma grande fortuna não é um sonho impossível. Observe que nenhum desses comerciantes incrivelmente realizados atribui seu sucesso a alguma fórmula secreta. As metodologias dos super-comerciantes Schwagers 17 variaram muito, mas todos tinham uma coisa em comum. Através da experiência, eles desenvolveram o método e a disciplina para agir decisivamente, uma e outra vez. Este é um ótimo conselho de alguns comerciantes muito bem-sucedidos. Adam Hewison Você realmente acredita que a equipe do MarketClub entrevistou esses comerciantes e todos tiveram respostas de uma frase. Obviamente, foi um dia de notícias lentas (sendo um feriado dos EUA e tudo), e essas respostas foram copiadas de um livro. As respostas são citações conhecidas desses comerciantes. Não acredito que dissemos ou afirmamos que os entrevistámos. O ponto que estávamos fazendo é que os mesmos traços que estes bem sucedidos comerciantes bem conhecidos estão empregando são os mesmos traços que defendemos no MarketClub. Não é ciência do foguete, é bastante simples. Para ser bem sucedido você precisa empregar as regras conhecidas de negociação bem-sucedida. Obrigado por você comentar. Um artigo interessante. Vários comentários: 1. Vejo o Futures In Motion mencionado algumas vezes acima. Eu não estou familiarizado com esta roupa, mas com certeza parece que eu preciso verificar isso. 2. Um comentarista acima mencionou o desejo de ver histórias de nós membros do MarketClub sobre sucessos, etc. Eu concordo plenamente. Mesmo um fórum pode ser útil onde nós MarketClubbers podemos comprar conversa. Gosh sabe que eu estava cansado (risada) O Sr. Hewisons equipe fina em questões de parar de colocar em Forex usando triângulos MarketClub. Mas, devido a várias regras, a equipe boa é limitada no que eles podem discutir: interrompa a colocação. Eu ainda acho que seria divertido e benéfico para nós MarketClubbers poder fazer compras conversando e trocar idéias, táticas, etc. Manter o bom trabalho Barry Obrigado pelo seu comentário. Nós a colocamos na idéia de bordo. O melhor, Adam Peter Holland diz que eu certamente aprecio vistas de Adams e idéias comerciais. Os triângulos são ótimos, é uma pena que eles estejam apenas nos mercados dos EUA. Eu vivo na Austrália e preferiria trocar estoques australianos, por 2 razões principalmente. Um, eu odeio acordar às 1.00 da manhã para me sentar em um quarto escuro e trocar e Dois, eu sou mais confortável, nomes comerciais que eu conheço. Obrigado pelo seu comentário. Nós temos muitos usuários na Austrália e certamente procuramos expandir sua parte do mundo. Mas, primeiro, veja o que vem trazendo algumas ótimas novas ferramentas para os membros do MarketClub. Nós o manteremos informado. Esse tipo de coisa é toda a internet. Recebi um telefonema de um vendedor para algum comerciante bem conhecido que queria que 7500.00 me ensinassem como negociar. Todos adquiriram alguns veículos, futuros, opções, divisas ou ações, onde ficaram ricos. Eu devo ter 10 livros sobre comércio e tudo o que eles fazem é me confundir. Vender cortesia e livros é como esses rapazes ficaram ricos. Eu não troco ações mais, apenas ETFS. Eu uso simples transições móveis sobre médias para compra e venda de singes. Não estou ganhando muito dinheiro, mas não estou perdendo mais dinheiro. Tinha uma assinatura de teste para as setas e, depois de olhar para o comércio 4 ETFS, não vi como ganharia dinheiro. Decidi transferir minha conta para a estação de comércio, para que eu possa voltar a testar alguns sistemas de negociação para ver como os resultados são. Se você está comprando ações, talvez o sistema de seta seja um bom filtro. Eu não sei. Obrigado por seus comentários. Quando você usa os triângulos de comércio e você os filtra, você elimina alguns, mas não todos, de trocas ruins. Recomendamos sempre aos novos membros que sigam as regras de negociação e veja como elas saíram. Eu sei que no passado isso é dado a muitos membros uma enorme quantidade de confiança em suas habilidades de negociação. Espero que isto ajude. Tudo de bom, Adam Quando vi pela primeira vez um vídeo das setas INO, olhei de perto e não gostei de como eles foram plotados na parte superior e inferior das barras. Isso faz com que os negócios pareçam excessivamente otimistas. Eu pensei que era enganador, então eu não tinha mais interesse no produto. Eu acho que seria melhor se eles traçassem as setas de lado ao longo das barras ao preço onde eles dizem que a entrada ou saída é sinalizada, se não é uma opção. Outras pessoas podem pensar como eu. Bem, acho que está confuso. Existem dois conceitos básicos: uma tendência é determinada a partir de uma gama de preços que você deve observar. Portanto, eles não têm necessidade de obter observações passadas. Consequentemente, você precisa ter preços históricos para descobrir uma tendência. Uma vez que você os possui, existem várias teorias, que foram desenvolvidas para promover uma tendência. A palavra, de lado, na análise técnica, refere-se a uma situação em que não há sinal claro, se o mercado vai subir ou descer. Espero que isso contribua para esclarecer seus conceitos. Obrigado por tomar o tempo para comentar e esclarecer alguns conceitos básicos. Nos agradecemos. Tudo de bom, Adam, agradeço o seu comentário honesto. Infelizmente, se você colocar os sinais exatamente onde eles deveriam ir, os gráficos ficariam incrivelmente confusos e, em alguns casos, ilegíveis. Nós fornecemos o preço e a data exatos em que o sinal ocorreu. Posso sinceramente dizer que foi feito para não ser enganador, não é assim que a nossa empresa opera. Tudo de bom, Adam Jimmy Higgins diz que o Market Club, Altho, eu gosto de uma boa história, eu preferiria que os membros bem-sucedidos do nosso clube dêem sua história de trocas boas e não tão boas. Eu usei o serviço do clube há algum tempo e estava bem com os triângulos do comércio e agora estou de volta para mais. Não consegui fazer milhões, mas estou conseguindo esmagar um dólar aqui e ali. Nada poderia me motivar mais do que fazer com que os membros mostrem como eles estão ganhando lucros e lembre-se de copiar um vencedor é o tipo de lisonja mais puro, também bom para o ego. Jimmy Obrigado por voltar. Esperamos incorporar mais histórias de sucesso e há bastante em algum formato e formato no futuro. Nós o manteremos informado. Tudo de bom, AdamWelcome ao Eventually Millionaire Podcast. Im Jaime Tardy e hoje temos Adam Mesh no show. Adam possui Adam Mesh Trading Group e foi visto na Fortune, Fox Business, CNBC, bem como o reality show chamado The Average Joe. E enquanto eu quase nunca assisto shows de realidade, lembro-me de assistir porque Adam é um cara tão simpático. Agora, estou realmente ansioso por tê-lo hoje tão bem-vindo, Adam. Muito obrigado por estar aqui. ADAM MESH: Obrigado, Jaime, por me ter. JAIME TARDY: Excelente. Então, primeiro AM: O que está acontecendo no JT: está derramando, então, espero que não se corte e, esperançosamente, as pessoas não ouvem o trovão demais, pois você pode ouvi-lo torcer no fundo. AM: boa música de fundo. O incômodo, suavemente, por cima agora. Tudo será bom. JT: Oh bom Então, primeiro, você é um investidor. Eu realmente quero começar e pedir JT: Trader. Então vou perguntar-lhe qual é a diferença AM: E estou feliz em explicar a diferença. JT: Sim, por favor me diga a diferença. AM: um investidor é passivo. Um investidor irá colocar dinheiro e depois verificá-lo a cada dois meses e certifique-se de fazer o seu negócio ou se não se perguntar por que. Um comerciante é muito mais ativo. Eles estão tomando controle. Eles estão gerenciando suas posições. Eles estão dentro por dias, semanas e meses, mas eles não estão apenas sentados nas mãos esperando. Eles estão assumindo o controle, então eu sempre incentivo as pessoas que irão negociar não investindo. Investir é o que você faz com o dinheiro que você coloca para a sua faculdade de crianças e coisas assim. Mas pelo dinheiro que você quer crescer a um ritmo mais rápido, acho que o comércio é mais importante. JT: Realmente Parece que há muitos riscos, então me diga como vocês pararam esse risco porque sempre ouvimos, você sabe, você colocou seu dinheiro, você deixou que ele se sentasse e porque o mercado de ações acabou por longo prazo, então foram bons. Mas como você pode tirar o risco de negociar AM: Ao estabelecer o que é esse risco, qual é a recompensa em cada situação e estar confortável com isso, para que, quando você entrar em um negócio, você entenda o que posso perder, o que posso ganhar? , Isso faz sentido. Então, se eu negociasse um estoque, eu seria como se eu pudesse perder um ponto ou eu posso fazer um ponto e um ponto é como se o estoque es às 50 e ele vai para 49 ou 50 e ele vai para 51, isso é um ponto. Em 100 ações, 100 e 1.000 partes são 1.000. Então, se eu entrar em um comércio, eu não quero um 1: 1. Eu quero um 5: 1. Estou à procura de grandes peças. Um excelente exemplo seria Crocs, ok. Crocs, você conhece esses feios sapatos AM: Eles são como as borrachas e coisas praticamente apenas populares nos hospitais. Bem, esse era um estoque que costumava ser realmente popular, então as pessoas, acho, perceberam o que pareciam. Foi todo o caminho para baixo. Então começou a voltar e eu vi que eles tinham alguns novos tipos diferentes de sapatos. Isso é como uma idéia fundamental. Mas tecnicamente, ficou acima de um nível de 10 e quando olhamos a última vez que ficou acima de 10, passou para 20. Então, nesse cenário, eu estava tão bem, se isso acontecer até 9, eu vou sair disso Mas acho que poderia voltar e testar onde tinha sido antes. Eu estava usando o padrão anterior. Isso é técnico agora. Então eu estava arriscando um para fazer dez. Esse é um excelente cenário que você não consegue encontrar em muitos lugares. Então, quando você faz negócios assim e você é bem sucedido, mesmo três vezes em dez, você vai estar indo muito bem. JT: Então, como isso funciona porque você está baseando-se em padrões anteriores, mas quero dizer, como você pode pensar que definitivamente vai fazer o mesmo que aconteceu na última vez. Quero dizer, não é tão volátil que não faz isso AM: Bem, a história tende a se repetir e o mercado historicamente cai em padrões. Essa é a análise técnica que reconhece os pontos de gatilho chave. Isso é algo que realmente procuramos fazer porque não, ele não se repete a cada vez, mas a quantidade de vezes que faz é suficiente para você ser muito lucrativo ao seguir esses padrões. Algo que vou dizer, mesmo assim, mais ainda entrar em risco e coisas, muitas pessoas trabalham muito, querem ganhar dinheiro, então, o que eles fazem. Eles dão seu dinheiro a outra pessoa para gerenciá-lo por eles. Então eles esperam que, no final do dia, cresça e, quando não, eles nem tenham o conhecimento para perguntar o porquê. Se eles sempre quiseram comprar ações por conta própria, estou certo de que alguns de seus seguidores tentaram comprar ações por conta própria de um de seus bancos como Chase ou Goldman Sachs ou Smith Barney ou qualquer um desses lugares e se você já fez, Custa cerca de 70 para fazer um comércio. Então, mesmo tendo esse primeiro passo para aprender a colocar negócios para você online, você poderia levar esse custo de 70 para menos de 10, apenas aprendendo a bater a compra e como vender, o que é realmente fácil de fazer. Agora, você começa a ganhar conhecimento. Você começa a entender como os estoques se movem, quais são os níveis-chave. Eu lhe darei um ótimo exemplo em um segundo do que está acontecendo agora e, uma vez que você entenda essas coisas e você pode fazer esses negócios para você, você está no controle. E mesmo que você não queira fazê-lo, mesmo se você chegar ao ponto em que você diz, Você sabe o que, estou muito ocupado, eu tenho muitas coisas acontecendo, eu nem gosto disso, pelo menos você sabe as perguntas certas para Pergunte. Pelo menos, você pode dizer à pessoa que gerencia seu dinheiro por que você fez isso. O que você viu aqui. Qual sua estratégia por trás disso. Você pode pelo menos proteger-se de colocar seu dinheiro nas mãos erradas. Mas um ótimo exemplo de ter esse conhecimento é mesmo o mercado na semana passada, quando você olha para isso, esteve em um intervalo e os níveis-chave foram de 12.000 e 12.500. Então, quando estávamos às 12.300 e caímos 150 pontos, eu disse a todos que não é grande coisa. Não significa que fossem tanking. Isso não significa nada. Está apenas no meio. Se você já jogou tênis, você jogou tênis JT: Sim, ou tênis no Wii, certo. Isso também conta: AM: Quando ficar dentro da linha de base ou da rede, certo. Mas, entre o ponto em que você não quer se pegar, é Não chamou de terra de homem. É aí que você está muito longe de qualquer local para ter que posicionar. O mercado tende a encontrar-se na terra do homem, onde pode subir, pode cair. Você não tem como saber, então você não quer se inclinar muito longe em qualquer direção, caso contrário você será queimado. Então, quando o mercado está sentado entre dois níveis-chave de 12.000 e 12.500 e está caindo 200 pontos, eu digo às pessoas que não é um grande negócio porque não está passando por nenhum nível. Então, a capacidade de olhar para um mercado é para baixo centenas de pontos e dizer que você sabe o que, nada realmente está acontecendo. Então, você vê um dia como hoje, onde o mercado tem um par de centenas de pontos e diz, e mesmo agora, nada está realmente acontecendo. É apenas o intermediário versus o mercado poderia ser menos e avançar um nível-chave e isso seria significativo. Então, entendendo por que as coisas estão acontecendo e não estou falando sobre os analistas na televisão dizendo que o que aconteceu no Japão está nos fazendo cair. O desemprego está nos fazendo subir. Habitação, não, estou falando sobre os níveis reais, que é realmente o que o mercado gira. É isso que vai determinar onde nos movemos. JT: Bem, eu acho, qualquer pessoa que entenda investir tem tanto medo de cometer um erro e não saber o que diabos eles estão fazendo. Então você entra e você faz alguns negócios ou algo assim e você perde sua camisa e vai oh, nunca mais é para mim. Quando você fala sobre isso, você está fazendo isso para sempre, você faz parecer tão fácil. Como se você conhecesse estas três coisas-chave, então você pode fazê-lo. Quero dizer, é tão fácil. Como você aprendeu a entrar em tudo isso: eu comecei a negociar fora da faculdade. Eu queria me tornar um escritor, mas meus pais disseram, você sabe, acabaram pagando por você para fazer coisas, hora de conseguir um emprego. Então, eu estou saindo e morando com sua moeda na Califórnia, enquanto tentava me tornar um escritor não estava nos planos. Então eu comecei a negociar cedo e adorei. Adorei a emoção, a pressa. Eu me senti como um atleta profissional indo todos os dias. Você sabe, você disse que fazia parecer fácil. Eu acho que a chave para o meu sucesso e as pessoas com quem trabalho, o seu sucesso, é mantê-lo simples, mas consistente. Você olha para os melhores atletas, a analogia comum usada que transcende os esportes é que eles fazem com que pareça fácil. Quando Alex Rodriguez balança um morcego, ele parece que é fácil. Quando Kobe Bryant dispara, ele parece sem esforço. No golfe, quando você vê esses grandes golfistas com seu balanço, parece que nem tentam balançar. É o mesmo com o mercado. Se você estiver adicionando todas essas complexidades à sua negociação, você está se machucando. Você está criando muito no meio. Você está permitindo muito espaço para erros, mas mantendo-o simples e consistente, essa é a chave para o sucesso. E acredito que os resultados estavam falando, não apenas negociação, mas negócios, eu acredito que isso é com qualquer coisa. Tomando um modelo que funciona e repetindo contra a tentativa de quebrar o molde. Eu acho que um padrão de falha é quando você vê algo que funciona e você diz o que mais posso fazer antes de você ficar bem com isso. Eu acho que é realmente importante ficar bem em uma coisa e depois construir contra tudo certo, isso é bom, o que mais eu posso fazer. Você não está abraçando o sucesso. JT: Sim, isso é enorme. Eu também escuto isso. O foco é uma coisa chave e não é puxado em todas essas direções diferentes. Mas você acha que isso é inato. Quero dizer, você fala sobre analogias esportivas. Você sabe, eles são realmente bons em balançar um morcego só porque são e você é realmente bom na negociação, só porque você é ou alguém pode aprender. Quero dizer, eu sei que o seu todo é o Joe médio, o que é ótimo, mas você realmente é uma média? Joe, você sabe Ou é algo que é tipo de seu sangue AM: A coisa legal sobre comércio, você sabe, atletas, com certeza. Isso vai realmente limitar o campo muito mais do que os comerciantes. É bom quando se trata de negociação e acho que esse é o apelo universal de que você nunca sabe quem vai ser bom. Eu vi pessoas que nunca foram para a faculdade excel. Eu vi as estrelas da Ivy League ter problemas. Então, essa é a única coisa que eu sabia é que não há nenhum requisito predeterminado para quem vai ser bom. Alguém poderia começar nos anos 60 ou 70 e ter muito sucesso fazendo isso. Há artigos sobre isso. Então, não é como no atletismo, acho que é mais uma disciplina, mas nem todos serão bons. Eu vi isso. Eu vi em todos os grupos de 20 que você vai ter 3 superstars, 3 pessoas que nunca vão conseguir, mas ainda podem aprender a se proteger e o resto vai cair no meio da estrada e estar bem. JT: isso é realmente interessante. É divertido, porque eu tenho um amigo que emprestou muito dinheiro em cartões de crédito, queria se tornar um comerciante e não funcionou muito bem para ele. Então você está certo. Eu vejo essas histórias e então todo mundo faz parecer tão fácil realmente fazê-lo. Então, é realmente bom que você seja muito honesto e claro, e nem todos são bons nisso. O que você acha que separa as pessoas que são superstars das pessoas que arent AM: Disciplina, a capacidade de manter o plano e ser consistente. Eu acho que é muito análogo ao exercício ou perda de peso. Quantas pessoas começam a trabalhar por uma semana, ficam doloridas e nunca voltam para a academia por quatro meses e depois começam de novo e saem da mesma coisa com uma dieta. Quantas pessoas começam uma dieta e param depois de uma semana em vez de ficar com ela. Nesses dois casos, a parte mais difícil é no início. Você está fazendo algo que está fora de sua zona de conforto e você não está vendo resultados imediatamente. Você não está começando músculos em uma semana de trabalhar fora. Você não está perdendo peso sua primeira semana de dieta realmente, a menos que você esteja no Biggest Loser. Mas, se você ficar consistente, então você começa a ver os resultados e as emoções serem mais fáceis. O mesmo acontece com a negociação. Você não pode dizer que eu quero ser um comerciante um dia e comprar ações e ser como eu sou rico. Não é assim que funciona. Você deve aprender as habilidades. Você deve continuar com o curso. Você deve cumprir o plano antes de ver os resultados. Então, acho que é essa convicção interna de que eu não vou parar até eu conseguir é o que separa pessoas que são bem-sucedidas de pessoas que não são bem-sucedidas. JT: Isso é incrível e isso realmente é algo que todos podem ter. So its not as though you are saying they can never be superstars its that they need to cultivate that first. Thats like a first step beforehand. Thats great. AM: I think with anything there is a learning curve. JT: Oh yeah, definitely. So how did you start So you started after college. I mean did you have a ton of money from your college graduation or something How do you start AM: I started trading at a company and the way it worked, it was a day trading company when I started, and I would go in every day and the first day I remember looking at the screen and it was just like a big blur. As I kept going, the screen became clearer and I started trading and what I did was I looked around at who the superstars were in the firm because they had like a leader board where you could see who was doing well every day so you knew who the stars were and I would kind of pick their brain. Id walk over to them with notebook and pen and ask them some questions and say what did you do here Whyd you do that I would come to all the meetings early and stay late and actually, the first award I won there was most improved trader. I have a history of that. Even when I wrestled in high school I got most improved wrestler. To win most improved it means you have to start off pretty bad. Its not the best award but it shows determination but I won that and even then when I left after I had been there for awhile and I left to go trade my own money, I didnt have success right away. I made a little bit of money. I always tell people the most dangerous thing that could happen in the stock market is a false sense of confidence. Making that little bit of money and thinking youre good which leads to the big downfall and thats even what happened to me. I was almost wiped out. I was almost done. I have an article that I send out to my students as a reminder once a month. Its called Its Going to be the Last Trade I Ever Made and I remember my back was against the wall and I wasnt going to have enough money left to even continue trading and I just really had to focus on one good stock, the best rules and I really had to simplify everything. If you have one trade left, it has to be right and I was able to fight out of it and then instead of kind of getting reckless and loose again, I stayed consistent and tied it within what was working and I was able to build off that. So I started off trading someone elses money at a firm at a job. It wasnt great right away but stuck with it. Asked the best people lots of questions then started trading my own money. Still had some setbacks but then was able to go back to the rules and what started it and achieved success. JT: So how long did that take you I mean how long were you working for somebody else and how long did it take you to achieve success when you went out on your own AM: I was working for someone else for maybe like a year. AM: Yes, I was eager to get out on my own. Then on my own, it was a couple years. JT: So what was it like trading your own money and thats the only thing that youre doing AM: Actually, it wasnt really a couple years. It was a couple years until I was comfortable but the turnaround was probably like within six months I went from up to down to up and I stayed up. So that learning curve was probably six months and then after that I was kind of just building. What was the question JT: No, actually, Im going to change topics for a second because I actually read that you had Fortune magazine looking over your shoulder and you made like 19,000 in a day or something like that and I really wanted to bring that up 8211 going from like talking about you at the very beginning to being able to do something that sounds so extraordinary that nobody could do it. Could you tell me a little bit more about what that was and why Fortune was following you on it AM: Sure, I was trading at a firm that had probably thousands of traders. It was called Trade Scape and it eventually got sold to ETrade for I think like 360 million and I was one of the top guys at that firm and so Fortune was doing an article on the trading industry and the owner of the firm recommended he watch me. So he, the guys name was Nelson Schwartz, nice guy, and he came and he was standing behind me and during that time the stocks were swinging much more wildly. Its not as easy to do that now. Id probably have to take bigger positions but this was like, these were the fuel cell stocks at that time. The stock that I was trading was plugged power but I didnt even know what that was. I didnt know the real name of the company I just knew the symbol. So thats why he found it so intriguing. I didnt know a lot about the company but I traded and I jumped in and 20 minutes later I was out and it was like 19 grand. AM: He almost lost it. He was standing behind me. He was like what is this world JT: Thats great. Good thing that happened on the day he was standing looking over shoulder Thats awesome. AM: They actually did a follow up a year later to see how the company was doing and we were doing well and we actually had a trader who had like, he made money 150 days in a row or something like that some ridiculous streak. Good stuff. JT: Yes, great stories. So lets talk a little bit about how you got into your own business because you were trading on your own. You were doing very well and being very successful. What made you start your own business teaching other people how to do it AM: That actually came about because of the television appearances. At that time, I was a partner in a trading firm and I used to train 20 people at a time and the market was slow and one of my friends knew a casting person so I ended up on a dating show. JT: Yes, I want to stop you right there. Talk a little bit more about that because I actually watched that show. I never watch reality shows and for some reason I watched that one so it was great that I have you here today. But what made you want to go on a reality show AM: I mean, the way it was described, I didnt even know it was a dating show because they were very secretive about that stuff. So the form I got said, Are you ready for the adventure of a lifetime Youre going to go on a luxury vacation and experience things that youve never experienced before with extreme stuff and you had to agree to go like skydiving, all these things. They had no idea what you were going to be doing but it was just like a crazy adventure and I was like, Yeah, Im in for that And so I showed up. I didnt even know it was a dating show. JT: Thats so funny. Thats great. Sorry and I totally interrupted you. So being on that show where you were matched up with a bunch of women or something like that and coming out at the end of that it helped your business career somehow and made you want to go into your own business AM: Well what happened was it was actually a popular show and it was, I think like 30 million people watched the finale and I was in the finals. Finals of a dating show. We went back to my apartment in New York and that Fortune article that we discussed was framed in my room because it was something I was proud of and shes like what was this for I was like trading. So when the show ended so many people had watched and instead of like writing in to ask about like my love life they were asking about the stock market and I was getting thousands of emails. It was crazy and I was starting to answer them and people just kept asking questions and so I started a newsletter. Right away, the newsletter had a thousand people. If you fast forward now, its almost 300,000 people. So I realized that there was a void that people wanted information on how to trade stocks for themselves and they didnt know where to go for it. So I started doing it and it took over and I actually loved it. Thats how that happened. JT: Well I mean youre such a likeable guy. Like I said at the beginning, youve got such a great personality and youre extremely trustworthy, especially seeing you on like a reality show and you were put in a really good light of being this really nice guy. So everyone is like I already trust you, please tell me your secrets. Thats excellent. AM: Thank you, I appreciate that. JT: Thats excellent. So 300,000, how did you go about getting that much I mean you probably didnt know that much about internet marketing and newsletters and stuff like that. How did you start with all of that AM: A good friend of mine was in that industry in terms of the newsletters and stuff like that. So he was showing me how you could get started and he showed me how to write kind of daily copy. I always enjoyed writing. Remember that was my original goal. JT: I was going to say you turned into a writer. AM: I think people really connected. I think it is hit or miss when you want to do something like that. I think people enjoyed my voice. It was very downturn. Less focus on proper grammar and more focus on just getting the message across. And I dont misspell words or anything but Im not concerned about starting a sentence with but. Im more thinking about what am I trying to say related to the stock market. So I think it was something that people enjoyed. As it took over and I sold my interest in the trading company to do this full time, it became more of a business and one of the things you want to do in the business is you want to get your message out there which is who am I, you know, why should you choose me over anyone else. Once I realized that this is what I was going to be doing now, I was like obviously I want to be the best, I want to be the best stock market coach there is. So number one, you want to make sure that everyone you work with is happy. Thats never going to happen. Ive realized that. The more people, if you want to have a very successful business, youre going to work with a lot of people and Ive realized that there is no pleasing everyone. So what I try to do is take comfort in the fact that I know what were doing works. Ive seen it work now, you know, month after month, year after year. Ive watched people become successful so I know what the plan is and I can encourage people and its something thats really rewarding. But one of the best things that ever happened to me was I went to watch David Ledbetter give a golf lesson and David Ledbetter is considered by everyone, this isnt by me this is by everyone, as one of the top three best golf instructors in the world and I watched him during a clinic and he was trying to get somebody to drive the ball straight but for 30 minutes all the guy did was hit the ball to the right and actually at the end he gave him a t-shirt as a gift for being such a good sport and the t-shirt said, I attended the Butch Harmon School of Golf which is a competitor, because the guy was so bad. It gave me confidence because at the beginning it was frustrating because if someone didnt get it I was just like, I would drive myself nuts because Im a real micromanager. But then I realized that everybody was improving and as I said earlier, not everyone will become a superstar but I want to make sure that everyone was able to go to the next level. Thats what I was able to do. So once I felt confident that I was doing a better job than anyone else and people were really benefiting, not everyone was going to be a superstar, but everyone was going to improve, I was like all right now I got to get the word out there. It was actually a fluke. I was going to start an advertisement and the ad was supposed to run, like it was an online ad, and it was supposed to go out to a small portion of the list but they accidentally ran it to the whole list and it did really well. Right there I was just like okay so this is how it works. You send your message out and then you have this many more people following you. So I didnt have to advertise steadily to get the word out there and allow people to get a free feel for who we are. When I advertised it was just kind of inviting people in to join my free newsletter and get a feel for who we are. JT: Thats sort of what I was going to ask whether it was a paid newsletter or its free. Its free so people can even sign up right now, just sign up to get your tips. JT: Excellent. So how did you advertise I mean you started with a big jump in subscribers number one because you were famous but what did you do for advertising AM: There were online sites where people were interested in, when the right amount of subscribers to any list, like it could be basket weaving. If there is 400,000 people that are on your basket weaving list and you say to those 400,000 people, Well how many of you would be interested in the stock market, even though the two are completely unrelated, you are still going to get a couple thousand people to say I am. I am, I want to learn about that. Thats really what the advertising is with that. You are going out to different groups that are interested in different things and saying, Hey would you be interested in this and if so, heres a free newsletter, get to know us better and see if you want to take it to the next level. JT: Excellent. So what is your business model I mean I know you have the free newsletter and you also have products for sale, right What exactly do you sell and I know you have a forum too. Do you have to sign up and pay for that AM: The way it works, I could take you from the beginning like the way it starts, so the products that we sell are introductions to the market. We have the beginners guide to the stock market, we have full contacts ratings and these are great ways to get a taste of okay whats the stock market about Whats the energy like and see if people are interested. And those products are actually called the loss leader because the amount we make on those doesnt even offset the amount of cost to advertise. Advertising is expensive. So you spend money to go out and advertise and of those thousands of people that will now join your list, maybe 40 or 50 will be interested in one of your beginner products which, you know, is a good way to offset your costs and give people a taste for who you are and see if they are really serious about wanting to move forward in the stock market. Then what weve became known for is our coaching program in our community. Those are the more expensive programs. They start at 4,500 and what people get there is they get to work one on one with a professional trader which is something that I did that was unique. The reason for that is I found that most of the companies that were doing this before me would have just college kids reading out of a textbook and what I did, because I had my connections, was I was able to bring in real traders who traded their own money for a living and get them to teach people how to trade. It was a much more advanced level of service and these traders were a little like why should I do it Theyre thinking Warren Buffet should be doing it and these great traders who made a living trading their own money didnt realize how valuable the information they had was. So they really enjoy doing it. Then the community was, after you go through the coaching program and only if youve been trained by us, you could stay on and get access to our forum and my calls every week and each of the coaches has calls. The forum has thousands of members and they talk about the market each day but whats really nice about it is theyve all been trained by us. So youre not going to have people that are out to manipulate or talk about stocks that arent within our guidelines for what were looking for. So its an educated community and it was pretty much set up the way my trading floors used to be. Instead of rows of people its people online but theyre all coming together and they have the similar training so it allows them to work effectively. So Im really proud of that. The way we do that is its 97.00 a month to get access to the calls every week and the forum but if people, for some reason, have gone through the program havent covered the cost of the membership, meaning, you know, because sometimes someone might want to get started with 5,000 and I think thats great but if they paid me 4,500 theyre not going to make that right away. Theyre not going to double their money in three months. They can. Ive seen it done but not everyone is going to do that. Most people wont. So in that case, they just let us know and they dont have to pay membership dues until theyre profitable. So its a nice kind of well train you forever until you get this but they go through the program and they havent made money then well continue to provide them with all of our services until they do at no charge. So its a great way to maintain a good reputation which is something I really work hard for. JT: Yes, just in terms of reputation too, usually when I do research I look up bad stuff too. So whoever Im interviewing I want to find out if theres anything bad being said about them and stuff like that and I just want to say that Im extremely impressed by what I found for you guys. In general, Ive interviewed a lot of millionaires having to do with investing and real estate and there are always people that say bad things. I usually take it with a grain of salt. The funny thing is that I read a bad review about one of your, one, I only found one, which is really cool, but then right underneath it you personally responded and you wrote exactly why. You wrote your phone number, you wrote your email address. You said contact me. That was extremely impressive and me, of course, if I was a consumer looking for your stuff, I mean that would be huge as far as trust for me. So whats your stance on addressing complaints and issues with your company AM: Again, its to be a micromanager and its funny. If anyone complains and in six years, youre right, theres been one complaint and I knew exactly who the person was and the issue was this. Of the 2,000 members, weve had we had to kick out one person from our forum and it was a lady that was just really being rude to everybody and so I wrote on there. I said this is what happens. Everybody needed her gone. Nobody was happy with her. We warned her several times and she had to leave. It was just frustrating because Im willing to put up my name and number and Ill speak to anyone about anything. Transparency is key as opposed to her I would use a fake name and a town that didnt exist to complain. It was like all right, whatever. JT: Thats really impressive out of thousands of people youve had one. Thats crazy. AM: Well thats the thing. In this day and age where so many transactions are done online, your reputation is more important than ever because if you mess up, many people will see it. All you have to do, like Im sure what you did, you go on the internet and you type in my name, theres 10 million hits. Youre going to go through articles. You are going to see something somewhere. You can read a lot about me. You were able to prepare for this interview. Im sure like 20 years ago before, however probably less, before there was an internet it was a lot harder to prepare for these interviews. You probably had to do a pre-interview. Now you just go on the internet and you read everything. So I think its really important to be a micromanager because this is another thing that I think would go for any business, you can work a lifetime to develop your name and your reputation and it could be gone in a second. You see that with that designer, that fashion designer who got caught on camera making anti-Semitic remarks and then all of a sudden his career was destroyed. You know what Im saying JT: Yes. Dont be that person. AM: You got to make sure that your customers are happy because, if not, people will know. Its important to me to make sure that I know I am doing everything I can. JT: As a business owner, so speaking to other business owners and having a group of clients or customers or whatever you want to call them interact with your forum, how do you set that up so it is so educational, interactive and you only had one person that was ever bad to other people How do you set that up in a way if somebody else was trying to do that AM: I love that question because what I did was I did the opposite of negative experiences I have had. You deal with other businesses every day and what I found was that there were so many businesses that I thought did it the wrong way and examples would be Time Warner Cable, Verizon, any phone company, cable company where you get transferred seven times, you have to speak to computer voices, its impossible to get a person on the phone. Thats a frustrating experience. That leaves me with a bad taste in my mouth so much so that I almost want to take action. I switched phone companies. Ive switched cable companies. I switched to Fios. So what I did was I lather people with personal attention. I have a full team of customer support here. I have a tech specialist so that when someone joins my program they have their personal coach, they have access to group calls of me so I keep an eye on them. If they need help with things on their computer they have someone who can help them with that. If they need help in other areas, theyll always have a real person to speak to. Theres always someone answering the phone. So I think personal attention is the way to separate yourself. Thats all people want. Even if you tell someone I cant help you and even if you say theres nothing we can do in this situation, as long as its a real person and they know every time they call you that phone is going to be answered, thats something that doesnt exist ever anymore. So its a way where we could set ourselves apart and thats what we do. So Im glad you asked that question because thats really important to me. JT: Thats really great advice. Yes, you dont get that anywhere nowadays. Thats excellent. JT: So what are some of the obstacles or challenges that you face just, I mean, in trading and in your own business We like to hear the beautiful success story of 19,000 in one day and yes I now have this wonderful company that has lots of people working for me but I know it hasnt all been smooth sailing. So what are some of the obstacles and challenges that you faced AM: Well, in trading, my biggest obstacle has always been discipline. Sometimes its what makes me a better coach than even a trader in that I know what the right things to do are in every situation. Ive been doing this for so long. There is no gray. Its black and white. Heres how you establish it. Heres what the risk is. Heres what the reward is. But no matter how long I have been doing it, theres certain situations where that little slither of emotion comes in and your discipline breaks down and then youre like Im just going to hold a little bit longer. You know what, Im not going to buy 2,000 shares, Im going to buy 5,000. Well, weve established theres a risk reward but now youre risking, at a minimum, a couple thousand versus maybe a couple hundred. So by taking on bigger risks, by going outside my comfort zone looking for action, thats where I encounter obstacles in my trading. So its a constant struggle. The market is really like the ocean. It could be like calm and relaxing and you can have some fun in it on a daily basis and then all of a sudden you let your guard down for a second and its down 500 points and you just lost 20 grand. Just always sticking with the rules I think is important in terms of trading. In terms of business I think the challenge is I guess one would be customers. When you deal with a lot of people, there is going to be some people you dont want to deal with and trying to demonstrate patience. Im someone who speaks my mind, tell it like it is so I have the urge to say to some people you are absolutely ridiculous. What you just said to me is the most ridiculous thing Ive ever heard. But, then again, you have to realize theyre a customer. Ive said it sometimes just because I think it needed to be said but trying to maintain professionalism I think is something I struggle with at points just because I wear my heart on my sleeve and it is me running this business every day. Its not like someone else is running it so if theres an insult or someone says something I dont care because its not really me. It is me so I do care. I think growth is something that is always on your mind because if youre not moving forward youre moving back. So its always how do we stay the best Is our technology the best Is what were saying the best Is our team the most prepared How do we make sure that this year is better than last year Those things are important because thats what creates a happy environment. JT: Yes, definitely. Excellent. So how many people actually work there AM: In my office there is, I think, 10. JT: Like rounding count, right AM: And then the coaches, they trade throughout the country. The total team of people that we work with is now over 30. JT: Nice. Thats excellent. And growth is always a thing of every year trying to get better and better. Thats great to hear. I mean thats sort of the whole point of having a business and growing it and making it better and thats what entrepreneurs do best anyway. AM: Well, going back to what we said at the beginning, its that balance between taking the things youre good at and doing them really well while still looking to grow. So its how aggressive do I want to be in growth versus how much emphasis on what were doing well. I usually say its like 85 percent just focusing on doing the things right that we are good at and 15 percent on what else can we do. JT: Thats great. So whats some of the resources that youve used Is there any really good books whether it be books on mindset or books on trading or whatever that have really inspired you and helped you grow AM: Well my favorite book, its actually one that I sell now and that wasnt looking to be a plug, its part of the full contact trading program, the book thats included with it is called Reminiscence of a Stock Operator and its a trading book but its also like a life lesson book. The guy kind of breaks his own rules so he makes and loses millions four or five times over. You see him go from tremendous success to failure over and over. So it was a book that really hit home with me as a trader and what youre able to do, because it was written so long ago, is get the rights to it and so I include that with my programs and I write my own modern day trading lessons are included with that. Thats what the full contact trading program is. It was all built around that book. JT: Oh wow, thats excellent. Awesome. For the last question, whats one action that everyone can take this week to move them forward towards their goal to be a millionaire AM: The obvious one is what you just said which is setting goals. If you dont have goals, you cant achieve them. Something I heard once that really stuck with me that I think can apply anywhere is when you look at any business and anyone in any business, there is the way that everybody is doing it and the way to separate yourself. I think the question that people need to ask whether its their own business or theyre working somewhere is how do I set myself apart How am I going to do something in a way thats different and better than anyone else has ever done before When you create your own way, and the story is actually about buckets. If you look at the rental car industry and you see that theres Avis and theres Hertz and theres Budget and theres Dollar, if I was looking to go into the rental car industry, for me to become Adam Meshs Rental Car, theres already a hundred of them. Theres no way to be different. But then you look at the zip car and all of a sudden theres a different spin. Theres a new spin on an industry thats been around forever. They created their own bucket. They stepped into that industry and said, Okay, were going to allow you to rent our cars but were going to do it in a way that has never been done before. Thats how I try to run my business. I think even when youre working for someone else, to go in and say, Okay, everyone comes in and does this but who has ever come after hours and made a presentation for how the business can grow Who has ever stepped up and said hey I took the initiative and look what else were doing now I think when you look to set yourself apart thats how you experience growth. JT: Thats excellent advice. Ive heard that through the whole entire interview though of you trying to really be the best and trying to do what you can do the best and I think thats a really key point too that everybody, as long as theyre trying their best to try and separate themselves and grow their business and do everything, thats really what you can ask for. Excellent. JT: So where is the best place to find you and information on all your products and everything online AM: If anyone goes to adammesh they can put in their email address and start receiving emails on a daily basis. Thats probably the easiest way to go is adammesh. JT: Excellent and I just signed up to you. So Ill be one of your 300,000 people that youll be sending those to. Excellent. JT: Yeah, I really appreciate it. Its funny, I got into the stock market not that long ago and Ive just been learning as much as I can. So I really appreciate your information. So I look forward to getting it and getting to know you better from thousands of emails that Ill get now. Not thousands but you know what I mean, every single day Ill be able to get one from you so that will be excellent. Awesome. AM: Right. I appreciate the interview, the way it was done. Its nice to be able to expand upon your answers. Im used to now being on TV where you have like three minutes to talk about three talking points so this is more of a relaxing forum where I enjoyed it. It was almost a chance to reflect so I thank you for the interview as well. JT: Excellent. Well I hope you have a wonderful day, Adam, and thank you so much for coming on. AM: Take care, Jaime. Bye. Thanks for listening. You can find out more great information like this on eventualmillionaire. Interview with Chris Capre of 2nd Skies Forex Chris Capre is the founder of 2nd Skies Forex and KronosFX. Chris sat down with Huzefa Hamid from DailyForex to discuss his journey into the markets from Yoga, to working for FXCM and then a hedge fund, and now running his own fund and providing educational tools for traders. Huzefa Hamid What was your professional background prior to trading Chris Capre I was a yoga teacher and yoga therapist. I worked with people who had injuries and they wanted rehabilitation type techniques to deal with that. I taught yoga for a total of 7 years but Ive been practicing for a total of 13 years now every day. HH: Thats quite a different field. Some people think its kind of the opposite. Most people start off in finance and then they have an aha moment and ditch the suits and go on some sort of a spiritual quest. I did it the other way round. HH Why did you decide to be a trader What was your journey into the markets CC In late 2000 early 2001, I realized I wasnt going to build the financial career that I wanted to and do all the things I wanted to do through yoga. I started to look at other options and opportunities. I started investing and I got involved in mutual funds and the equities markets. But I was disenchanted with the fact that you can only make money so many hours of the day. At the time, I was working with a particular client of mine who was a doctor and who had cancer he wanted to do some yoga therapy to make his body feel better. We became very good friends. He had invented a patent that Kodak had bought and had retired at 40 a deca-millionaire. One day, he came up to me, looked at me and asked: When are you going to get a real job I was shocked by the question and asked him what he meant. He gave me a book about an American that goes overseas and becomes a currency trader and ends up doing some very interesting things in the markets the book is Ugly Americans by Ben Mezrich. He then told me he had a strange feeling I should learn currency trading and to read this book. After reading that book I signed up for a demo account, and after a month of demo trading I went live and never turned back. I had a very short incubation period. I found trading something that naturally made sense to me. I felt like I could look at the charts and get an understanding of what was happening and where I wanted to position myself. Technical Analysis and trading takes time to refine your technique and skill, just like hitting a golf ball or archery, which is something I do. And that is something thats ongoing. But the initial part of it seemed intuitive to me. HH What are some of the early mistakes you made as you found your feet as a trader CC Managing risk and emotions and the psychological aspects of it. Managing risk was something I had very little understanding of in the beginning so I was way over-leveraged in my position sizing. I started off trading standard lots on something that should have been a mini-sized account: it was a 3000 account and I was trading standard lots right off the bat. If I had lost my first few trades I could have been wiped out completely. Luckily I won my first 8 or 9 in a row so that helped to beef things up. About 6 months into it I experienced my first big loss. I had taken my account from 3k to 83k, but then I lost 10k in 5 minutes and then 25k in 15 minutes. So those big losses gave me my first psychological check which I hadnt experienced up to that point. For that next 3 to 6 month period, I really got a first-hand experience of what were my psychological limiting beliefs, thoughts and conditions around trading, losses, success and failure. That was something that took a little bit of time to deal with and digest. HH Why the name 2nd Skies what does it represent CC I was with a hedge fund after working for FXCM. I was with the fund for a year but I felt that it was time for me to go private I had been working for other people for a long time and making them wealthy. Instead I could have been building my fund, which I had been trading with private funds very early on, along with my track record and client base. But leaving the hedge fund felt like it was a new horizon or a new sky that was opening up. Thats why I called it 2nd Skies. HH Tell us about the hedge fund how you walked into that and your experiences there. CC I had been working for FXCM for about 2 years and I had done many presentations for them at expos and shows. There was this hedge fund that was going around scouting talent and Id met them a couple of times but I was really enjoying my time at FXCM it was a great environment to work in and theyre a great company . HH: What were you doing at FXCM At FXCM, my work with them was as a broker, and eventually I built up a large client book, top in the company. I was also doing sales, audits for trade executions, working with gold clients, and education 8211 both internally and externally. I did everything you could possibly imagine inside that organization as I wanted to absorb as much about the industry as I could. After leaving FXCM, I wanted to see what hedge funds were about (I had my own private fund at the time). So I got into contact with some of the people who had tried to recruit me in the past and one of them hired me pretty quickly. I stayed with them for a year before starting 2nd Skies. HH In a nutshell, what does 2nd Skies offer your customers CC 2nd Skies is really about teaching people how to trade the markets not just the Forex markets, it can be stocks, futures, or commodities. We offer all kinds of tools for that. I have free articles and videos, daily signals and setups, and weekly market commentary. We also have online courses that are designed to teach people how to use the same systems that I use on a daily basis. These are same techniques that I use to build a successful trading psychology and risk management profile, and we help traders interact with other traders in a large community to share their trade ideas and setups every day. We have a pretty strong success rate: our reviews our consistently positive across the board. HH Talk to us about some of the emphasizing points you lay out in your Price Action module. CC I approach Price Action from a slightly different perspective than most out there. Most of the Price Action you see out there is pattern based, for example Pin Bars, Inside Bars etc. Those are useful patterns but those patterns are the result of Order Flow, not the cause. So those patterns are reactive, not responsive. I teach people how to look at the Price Action and read the Order Flow behind it. The bottom line is that there really are only a couple of facts about the markets. First, as long as there are buying and selling orders, the market will move. And second, the Price Action is a full manifestation of the Order Flow which is the sum total of the buying and selling orders out there. With my models I employ quantitative based data and strategies to understand the market. For example, how does something statistically hold up over time How does this particular Price Action formation result in this being an extreme statistically There are all kinds of things you can measure from a quantitative perspective, even a particular patterns effectiveness in a particular environment. So I approach it both from a quantitative perspective and from understanding the Order Flow behind it. Most people are just talking about patterns which keep people reactive and not responsive to the market. They think the pattern is the cause of the move and they dont realize its the result, not the cause. HH There are lots of trading concepts out there. Whats made you pay attention to Ichimoku Cloud in particular and offer a separate course on it CC I discovered Ichimoku in 2004 when I was working for the broker. Back then, working for a broker was a huge informational advantage because the broker had a lot more information than was available publicly. At the time, there was very little information on the Ichimoku Cloud and most of the information was limited to coming out of Japan and one translation and that was it. I started to explore and I really liked the trend trading concept behind it. Its designed to give a lot less signals but it filters out a lot of false ones. Its designed to capture trending and momentum type moves, discover future support amp resistance levels and underlying reversals in the market. To me that sounded very interesting. Of course, Price Action is fantastic but somehow I naturally gravitated towards Ichimoku. The funny thing is that when I taught an internal class at the broker about it back in 2004, they all laughed at me and thought it was the biggest joke. Now at the same broker, FXCM, one of their largest forum threads is on the Ichimoku Cloud and they have it in six languages. Its something thats definitely expanded and hopefully Ive been able to help bring that out into the world and give it some more exposure. HH Do you teach the Ichimoku Cloud in the standard way that you discovered it or have you modified it CC For some strategies Ive modified it but not the settings on the Ichimoku Cloud because the settings are based on a particular theory, the Ichimoku Time Theory. And the person who invented it, Goichi Hosoda, had spent 4 years studying number and time theory and he came up with some particular numbers that he felt were crucial. All of Ichimoku is based on that. So I didnt want to disrupt those numbers and use alternate settings. I feel that his 4 years of study on number and time theory is far more intricate than mine. So I trust that. But Ive made modifications to certain types of entries. HH Do you trade Ichimoku in a discretionary way or a rule based way CC Most of my trading tends to be more rule based rather than discretionary based, so we have rules for all of our Ichimoku systems. When my students take the trades, a lot of them are getting in at the exact same price which tells me that you can trade Ichimoku in a rule based way. It does help to have some quantitative data and weve started to expand our analysis on Ichimoku, and Ive employed some people who are very good at financial modelling to help me do that. HH Pivot Points are very well known. How do you treat PPs differently from whats already out there CC When I first started looking at Pivot Points I couldnt find any quantitative based data or strategies out there. There was nothing and I searched everywhere. So I went out and built my own quantitative based strategies solely on Pivot Points. To build those types of things you just have to ask the right questions. I worked with a programmer and I would ask a bunch of questions, have him run the tests and see what data came out. When I found some interesting data points I spent time studying them to see if there was a system embedded in there, and in many of the data points there was. So if youre able to interpret the data correctly and understand what its communicating, youre able to find patterns and thus systems to trade. HH You have a mix of discretionary price action strategies and rule based systems. How do you know which of your own strategies youre going to trade on any given day CC Its not that I am going to focus on one or the other and say, for example, this week I am going to do only Ichimoku I have 4 charts per monitor and 6 monitors and that is more than enough to cover the instruments and systems that I trade. So when I turn on my monitors every day, I look at my charts and can tell if theres something that looks interesting to me based on the Price Action or Ichimoku structure. I know my systems because theyre rule based. So I can see, for example, if theres an Ichimoku setup coming up today. HH What timeframes do you enjoy trading personally CC Im looking at 4 time frames per instrument: Daily, 4-Hour, 1-Hour and 5-Minute. I can see right away at a glance if price is in a trend versus a range bound environment and then make decisions about which tools Im going to use based on that. HH What trading hours do you keep CC I get up every morning at 5am Central Time, do about 90 minutes of Yoga and meditation and then Ill be at the screen 30 minutes before the New York Open and any major announcements. But before I do any chart analysis or trading, I actually donate to some non-profit organization or project around the world. I do this because I am grateful for what I have in my life, and definitely want to have an impact on others with the resources I have. To make money is one thing, but to have an impact on another person8217s life is a completely different thing. So I give a donation, feel grateful for what I have, and then start preparing for my trading day by getting in a trading mindset using certain techniques. I spend the first 30 minutes familiarizing myself with what happened overnight. Most of my intraday trading is done from New York Open to London Close. New York Sessions just arent as volatile as they were back when I first started trading. Back in my early days the New York session used to be more volatile than the London session is today. And the London session was even more volatile. Theres a lot less opportunities in the New York session today sometimes it can be really volatile but not as much. So at London Close, my trading phases down and at that point Im usually just doing set amp forget type trades or letting my current trades run. I then come back around the New York Close to see what patterns may have emerged on the Daily chart, and look for set amp forget type strategies to take positions overnight and make money while Im sleeping. HH Do you favour any particular pairs CC I like AUDUSD, Gold, Silver, Oil, EURUSD, EURJPY, GBPJPY along with the European indices which have been offering some great setups lately those are the ones I trade on a regular basis. Every now and then there are opportunities in other pairs that I like to take. HH Tell us about your physical workspace. CC I have a 400 square foot office in my home. We have two separate internet lines in case one goes down because if the internet goes down it costs me a lot of money. I have 6 screens and 2 separate CPUs: one for charting and one for trading because the bandwidth of the charting platforms can consume a fair amount. I have everything I need here so I trade from home. Of course, if youre not doing any intraday trading, you dont need a whole lot of monitors. HH Do you trade by yourself or do you have partners CC I trade by myself but I have a trading team for my fund. Theyre based in Europe: a few traders in Germany and one in France. We communicate but I trade my own personal accounts on my own. HH Tell us a little about your fund. CC The fund is called KronosFX. Its track record goes back to 2002 which is when I started managing private funds for family offices. I had some traders that Id already been working with and after a while we decided to partner together in building the fund. About 2 years ago, we opened up KronosFX to go public and started attracting public funds. The typical investor were looking for is minimum 250k. We have just a little bit over 10 million under management right now. HH What things in life has trading enabled you to do CC The biggest thing aside from financial freedom and time is that it allows me to pursue my philanthropic goals and visions. There are a lot of projects that I can support through the abundance that Ive been able to create. In third world countries, they mostly need resources more than anything. And in second world countries, they probably have some resources but they dont have the education per se to help them build that into opportunities. Statistics are out there that if in a second world country or in Latin America people learn English their upward mobility increases by 70 and thats significant. By providing education and resources, that allows me to have impact. For me, making money at this point is not difficult, being financially successful is not difficult, but having an impact on peoples lives is something thats completely different. Hopefully with the success and abundance that Ive had I can make an impact in peoples lives. HH: What are some of the philanthropic causes you go after In second world countries, there are these programmes called Access Programmes that are done through the governments and consulates where they teach the local residents in say Argentina and other countries to learn English. They sponsor students for 2 years. There is x amount of dollars per scholarship per student and we try to contribute a handful of scholarships every year. Another is Kiva. org: they give microloans to various people that have businesses in second and third world countries Vitanna is another one we support that focuses solely on education. There are some other projects as well that get clean water to villages in Africa. And then I donate to various other organisations such as to a monk who has an orphanage in northern India, his name is Lama Tenzin. So those are some of the areas that Ive gotten involved in. HH What are some of your ambitions going forward CC I studied neuroscience in college and my specialty was human learning and memory how could I accelerate the learning process basically. A while back as part of one of my research projects Id invented a neuro-suit that would help improve learning, feedback and performance so that we could optimize the central nervous system. The problem was this was back in 1998 and the technology wasnt there. Now the technology is available and there are these great neuroscience labs that are building neuro-feedback suits that can look at your brain patterns, understand when theyre in optimal performance stages and then help provide neuro-feedback so you can repeat that process. Im working with a neuroscience lab in the US that has the technology and were working on testing traders so we can enhance their learning curve, performance, and we can help them reduce risk so they dont get into these situations where they get massive billion dollar losses on trades. Also for beginning traders, if they can start off with a neurological edge by training their brains in the right way from the start I think we can change their learning process. It can change a traders life. My original device was a physical suit but theyve now got it down to a headset. So thats a big project for me that Im working on right now. Outside of trading, I want to have a big impact in the philanthropic world and get more personally involved: go to the sites, meet the people and get to know them. And I want to have an impact on improving the quality of the environment and the food we eat theres lots of information out there that the food we eat is highly toxic because of things such as the quality of soil we have today. Again, it is all about impact. About Hamid Hamid is a British-born full time trader now based in Canada. He enjoys the technical aspects of trading Forex and is an expert in trading based on the Fibonacci sequence. He also writes a Forex blog named SimplyProfit and is the co-founder of TheForexRoom.
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