 |
| Q |
What are Futures? |
| A |
It's a contract we use for intra-day trading. The reason for its
existance is only of academic interest to us. Remember we are only
interested in profiting from a price difference during the day.
|
 |
| Q |
I heard that investing in Futures is extremely risky. Is this the case?
|
| A |
80% of participants lose. This is because they have no idea of what
they are doing and have received no credible training. The markets are
designed for the majority to lose. The majority have to lose so the
minority win. You need to receive the correct training and expose
yourself to enough paper trading simulation to start with, and thereby
prove to yourself that you are correct often enough before committing
real cash and joining the 20% that take money out of the markets. |
|
| Q |
Do I need any special qualifications to take your course?
|
| A |
Open-mindedness; practice; patience; the ability to work to a plan and do
what you are told by someone who will have your best interests at heart;
you are paying me to teach you; I want you to win. |
|
| Q |
Who will benefit from this course?
|
| A |
You and me; I benefit in ways other than financial; it helps me in my
trading to run some trading seminars |
|
| Q |
I was asked the following question the other day: Message Text: I'm
interested in your course. But, I'm intrigued as to why you are running
courses when the trading is so lucrative for you. A cynical view would be
that you're only really interested in the 5k course fee. I'm sure I'm not
the only one to have asked this but there is nothing on the FAQ to
clarify your point of view.
|
| A |
My answer to this gentleman was as follows: I am happy trading away
every day minding my own business. Some time back I was contacted by a
journalist who wished to write a piece on people that had overcome
disabilities. Now I am not a trader because of my disability, [poor
hearing; tinnitus and ENT problems] but I did indicate that one could
trade if one was totally deaf. She picked up on that point and
subsequently I have received some publicity in a few newspapers where
they seem to like writing about my lifestyle and location and role.
The point is that as a result of the publicity I received I have run some
more trading seminars. Prior to the publicity, students found me in other
ways. I find that running the seminars is very conducive to my own
trading. I am like a destroyer captain who is called into the navel
college to give lectures to new sailors for a while. Thereafter when I
return to sea I am in better shape than ever. I don't need the trading
seminars for the income, but I enjoy them. I don't plan on doing many but
it makes a pleasant break from trading, talking about a subject I know
well to receptive and appreciative students for two weeks. Its something
I enjoy in ways other than financial.
By the way, it's important that the student values the tuition properly and he
or she will only do so if a reasonably high value is attributed to it.
|
|
| Q |
What type of person makes a good trader?
|
| A |
Someone who can persist with adversity for long enough to distinguish
between an ambush and an opportunity. |
|
| Q |
Can you recommend any books on the subject that are worth reading?
|
| A |
I have a long list which I shall be talking about during the seminar. |
|
| Q |
Sticking to the rules to minimise risk that you teach, what investment returns are typical?
|
| A |
It's not about returns; the money takes care of itself if you can get it right;
the rewards for getting it right are awesome; but learning takes
patience and most people don't have that. |
|
| Q |
If I successfully complete your course, what is the minimum capital investment I
would need to begin trading futures with a realistic chance of ongoing profit?
|
| A |
Irrespective of how much or how little you have, you will start with the
minimum needed to open a brokerage account; typically £5000 |
|
| Q |
Why do you vet applicants to your course?
|
| A |
I do not wish to have any association with people who indicate they will
not follow my methodologies. |
|
| Q |
How many people attend each course?
|
| A |
Henceforth around 10. |
|
| Q |
What proportion become successful traders?
|
| A |
Most. By the way, there are people who buy things and never put them into
action. I bought an expensive camera in Singapore a few years ago. I have
used it very rarely since I bought it. Perhaps only taken 20 photos. Now
that is not the fault of the shop where I bought the camera. There have been
a few students who received my training and subsequently decided not to
pursue implementing it. Perhaps they got busy doing something else? In
any event there is a category of person who wants something and then
having got it, decides not to use it.
|
|
| Q |
I get very irritated when important messages are sent out with spelling
mistakes (i.e.loose or lose). How can you convince me that if I pay you
£5000 you will teach me what I want to know?
|
| A |
We do not operate in a perfect world. I am sorry for the typos you spotted in the
text on the site. Our world in trading is one of compromise. We expect
losses. They are part of the routine. If we have three trades the point
is that one is a loser and the loss is contained around say 10 points,
however the winners go somewhere and produce points in excess of 10, say
20 or 30 and possibly a lot more given the right circumstances. This
is an activity where the net result is what is important. We have to know
the impact a loss will have upon us and how to deal with that. Trading is
not for some people. It is not for perfectionists. It is always a
compromise.
|
|
| Q |
How much is the course fee?
|
| A |
£5000 or equivalent in local currency. |
|
| Q |
Is there a deposit required?
|
| A |
No; I expect people to behave to a high standard. |
|
| Q |
As a new participant to futures are the odds overwhelming stacked against me making a profit?
|
| A |
No, the odds are not against you. In futures trading there is no house advantage as is the case of a casino. The more you are willing to learn and approach trading in a diligent, disciplined fashion the more the odds work in your favour. |
|
| Q |
Can anyone trade futures?
|
| A |
Yes, anyone can trade futures. You must however, meet the financial minimum limits of the brokerage firm. |
|
| Q |
How much time do I have to spend trading futures?
|
| A |
That's up to you. However you will certainly get more out of your trading by increasing your knowledge of the markets. It is vital to keep watching, listening and learning. |
|
| Q |
What's a good way to start?
|
| A |
By listening to me for ten days. Then start "paper trading". This involves making a note of hypothetical trades and watching their progress. Don't be in a rush to trade with real money; the markets will be there for you whenever you're ready! |
|
| Q |
Why do you want to teach people how to trade?
|
| A |
I like to teach people from time to time when it suits me. I have no prior experience as a teacher. I was hauled into this teaching stuff, but amazingly I am told that I am very good at getting my message across. Others may be good traders but somehow they just don't seem to have what it takes to get the stuff over to others in a way the listeners can comprehend. It could be that I am a wee bit charismatic, anyhow - all I can tell you is that my students tell me I am good at explaining market behaviour to them.
Also, after trading for several years, I found what I was doing grindingly lonely. The isolation was painful... I wanted people to talk to...
As a result of teaching, my own trading has improved greatly... I think I learn from my students... They force me to learn...
As to why I don't just trade; I may decide soon that teaching is too much work and give it up, but as long as I am happy doing it and the people I train up, appreciate it, I intend to continue with the teaching.
I find the combination of trading and teaching most helpful in pushing me forward.
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