Ep 48 - Trade Like A Pro with Alan Hill
Sponsored by XTB Brokers
This Week we are joined by Ali Crooks of the Traders Support Club. We’ve had Ali on the show before; Ali is a backtesting guru and set us on the right path in Ep 31. It was a real treat to have him back on the show to talk about his approach as a technical trader, to trading risk events and get his perspective on the French Election.
The Traders Support Club is a trader training course (or trader community with a trader training programme, as Ali prefers to say) that will take a new trader, or an experienced trader who is not yet consistently profitable, and show them how to build a technical trading system from scratch. There is then a full-time community online every day to help new and experienced traders become and stay profitable.
We are both very excited to be going on the Traders Support Club course. Tom is a committed technical trader and he knows that this will take him to the next level. Owen still has one eye on trading forex fundamentals, but he knows that a solid foundation in technical trading will be invaluable!
The Trader Interview
Alan Hill spent decades working behind the scenes of institutional trading houses and investment banks. He now works with retail traders and has come on the podcast to tell us how to trade like a pro.
To start off with, Alan is not a fan of technical trading. Or at least, he says that institutional traders never trade using technical indicators. Never say we don’t present both sides of the argument here on Two Blokes Trading! He also talks extensively about getting in the correct trading mindset. When pros are trading they are trading when retail traders are focussed only on trading. But retail traders often have to deal with everyday distractions - he gives his tips on remaining focussed through the day in order to trade like a pro.
Alan also does some blue sky thinking - after decades working in the interbank market, he wonders if there is a way of replicating for retail traders the OTC / peer to peer trading environment seen in the institutional world...answers on a postcard!
When us retail traders see the massive profits that the Investment Banks and Hedge Funds make we have two choices - either accept that they are smarter than us, or work out what the banks do differently and try to replicate it. Alan is on the show to help us all become profitable by understanding how the professionals make their money and applying those lessons to our own trading.
The Coming Week
This week the markets will be taking stock after the French Election Results and deciding how things are shaping up for the second round. Owen will be reporting back in Ep 49 about his success (or otherwise) trading the first round of the vote!
Owen and Tom will both need to put together a plan to trade the French Election Runoff - the second round - on Sunday 7th May. If things go as expected and Macron gets in, then it is business as usual, but if Le Pen wins then things could get very, very interesting!
And of course, this week both of us will be looking forward to starting with The Traders Support Club on May 1st. Exciting times!