23/1: Why network with other traders?

One of the items on my “trading business plan” is to regularly network with other traders (and aspiring traders).  As part of that i always try to attend a bi-monthly pub meet in central London.  Sometimes I don’t really feel like going but I push myself to attend in any case.  Inevitably something good comes out.  Networking events are a positive expectancy bet/trade – limited downside (2-3 hours of time, £10 for two beers), unlimited upside.  At these meetings you can help others and be helped.  Here’s an example of what I learned/talked about this time:

Martin Walker – talked about market-making patterns on Cable [=GBPUSD currency pair] (Asian Range, London Open – see handwritten notes on pub napkinserviette), central bank policy diversion  for big trends – and then using 4H charts to trade the big trends – discussed issue of needing to battle news when trading from 4H charts, overlap between heads & shoulder patterns and 123 reversal patterns- what did chart do prior to the 123? What central bank diversion exist at the moment – where are the big trends? How should this impact on my trading? Use this for the STAM approach? Martin Cole ebook – talks about the manipulation of the fx markets by market-makers.  Always think of the market-maker as taking the other side of my trade. Megatrend on DAX thanks to ECB-Quantitative Easing?

Sandy (from Global Trade Room) – RENKO charts, brokers for trading futures (Ninja and Marios [?]), footprint charts, scalping, Global Trade Room advisory service

Wayne – Anna Coulling book – mainly market phases, and importance of volume

Steve – is still trading the STAM strategy prefers indices rather than fx, to some extent, would like to work on lower timeframes, but is restricted by the demands of his full-time job

Paul Wallace – quick catch up psychology and what one can expect!

Ironically, the four of us who set up our full-time trading office, met at this very event back in November 2013.

If you want to attend this networking event – see the MeetUp details for it here – it is completely free to attend.

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