The Two Blokes Learn to Trade Traders Support Club We (Tom and Owen) have been learning to trade since June 2016 with mixed success. Coming up to one year of trading, we now realise that the best way to become profitable traders is by learning from profitable traders! Ali Crooks, founder of Traders Support Club, is supremely confident that he can add us to his growing list of profitable trading protegés. He is so confident that he is willing to put his reputation on the line and train us to trade while we report back to our thousands of weekly listeners! We are loving the course so far. Follow our progress week by week on the podcast and blog. You can also join us on our journey to becoming profitable traders by clicking the button below! JOIN TRADERS SUPPORT CLUB WITH AN EPIC TBT DISCOUNT! Week 1 After just under a year of trading, we felt that although our knowledge had advanced tremendously, we still were not trading for consistent profits. We needed to get professional help! We were casting about for options when we spoke to Ali Crooks of the Traders Support Club. Ali had been on Episode 31 to talk about the importance of backtesting, so we knew he was legit. Ali came on Episode 48 once again to offer us two spots on his ‘Professional Programme’ and spaces in his Live Online Trading Room. You can listen to Ali explain the idea behind Traders Support Club in Episode 48. Book Now! Week 2 When joining Traders Support Club, Ali’s first task for us was to fill in a detailed questionnaire about our trading experience, strengths and weaknesses. You can listen to our frank discussion of our personal trading strengths and weaknesses in Episode 49. Owen began his weekly Training Journal this week. He really thought about what it was that he needed as a trader. Owen is a fan of the concept of ‘Marginal Gains’ and wrote about how the pursuit of these marginal gains is what led him to seek a place on Ali’s course. Read it in the post - Increasing Profits Through Marginal Gains. Week 3 In Episode 50, Owen makes Tom vomit by referring to his ‘journey of self discovery’ while writing the Training Journal. This week the article builds on last episode’s discussion of trading weaknesses. Owen is a big fan of the ‘Pre-Mortem’ in business and trading is no different. By understanding how you might fail you can prevent it from happening before it is too late! Read all about The First Step to Becoming a Trader: Trading Pre-Mortem. Week 4 We begin the video learning course this week and mull it over in Episode 51. One of the first things any trader needs to establish is the time frame they wish to trade over. So, do you want to Position Trade, Swing Trade, Day Trade or Scalp? Owen is won over to Swing Trading by Ali’s convincing arguments about the initial skill level needed being lower, and the chances of success being higher. This week’s Training Journal explains the timeframe options in a little more detail and gives Owen’s reasons for switching from Day Trading to Swing Trading. Many traders are lured by day trading in the first instance, but maybe swing trading is the better starter option…. The Best Time Frame to Trade Forex Week 5 This week we switch from video learning to Webinars. In Episode 52 we tell you all about our first webinar with Ceri Byans (who you may remember from her interview in Ep 42). Ceri gave an introduction to the basic support and resistance and trend line concepts that their technical trading systems are based on. We enjoyed the ‘rules based’ approach to technical trading concepts that is employed by Traders Support Club. Rather than plotting support and resistance lines ‘by eye’ they utilise specific rules to select when a level truly is a level. These rules are mirrored in all the building blocks of their technical trading system. This creates the perfect framework for accurate backtesting. Removing the corrective nature of ‘hindsight’ when back testing is key, and having a rules based trading system is the best way to achieve that. 052 – Intuitive Trading with Andre Minassian Listen to this episode Play / pause 1x 1.5x 2x 0:00 0:00 0:00 052 – Intuitive Trading with Andre Minassian Week 6 Episode 53 is an exciting one - we look ahead to some of the strategies that Traders Support Club use to make profit over various time frames. Our video course learning has progressed beyond the basics and Tom in particular is really getting into the meat of the technical trading strategies. Owen is pleased to be looking at Swing trading but also slightly bored by the lack of action! But, putting his childlike need to be entertained aside, he knows he has made the right choice… The focus on strict trading rules continues, this time with Consolidations and what actually forms one. Owen latest training journal entry is all about Why You Need Strict Trading Rules to be able to take the option of being ‘wrong’ out of your trading. This doesn’t mean never having a failed trade, but using objective analysis to remove the possibility of personal failure and the destructive ego-based trading this often causes. Week 7 The third webinar from Traders Support Club was all about backtesting. This reinforced last week’s theme on the need for strict trading rules. Quite apart from ensuring you don’t waste time on broken strategies, backtesting helps build confidence in your system. TSC showed that without that confidence there are some basic psychological mistakes that most traders will make. A big one is giving up in normal losing periods because you don’t know what a normal draw down looks like for your system. Basic errors like taking profits too early or moving stop losses incorrectly can be avoided too with good back testing. Read more in this week’s training journal - Why Backtesting Trading Strategies is Essential In Episode 54 we had Kym Watson on to talk about pivot points, but he also had something to say on backtesting. He believes that backtesting can be kept very simple, with ‘back of a cigarette packet’ testing being adequate if you aren’t a fan of Excel. Fortunately for us, Traders Support Club have built the complex Excel backtesting spreadsheet for their members, so we don’t have that problem! Week 8 Having completed the full webinar series we were presented with the stark reality of having to ‘get on with it’ and select a trading system. Owen, being the naturally decisive sort, pinpointed the exact strategy he wanted to Swing trade and cracked on with the backtesting. Tom, being weak and feeble, prevaricated and doesn’t appear to have decided if he wants to Day Trade or Swing Trade. (You can probably guess who writes these blurbs - ed.) Episode 55 sees Ivo Luhse come on the show to talk about how to create your first trading algorithm. This gets The Blokes wondering - can they apply some of the technical trading systems they learn with Traders Support Club to the work they have been doing on automated trading systems? As yet this remains unclear, but it is one of the questions that they will be answering in due course. 055 – How To Build Your First Trading Algorithm Listen to this episode Play / pause 1x 1.5x 2x 0:00 0:00 0:00 055 – How To Build Your First Trading Algorithm JOIN TRADERS SUPPORT CLUB WITH AN EPIC TBT DISCOUNT!