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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 21 February 2007 Table of Contents (1) Quote on Patience and Perseverance (2) Interview - Joe DiNapoli from the United States (3) MetaStock Programming Workshop - Singapore (9 and 10 March) (4) Asia Trader and Investor Convention - Kuala Lumpur (17 and 18 March 2007) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ RSS Feed Stay up to date with all that is happening at Trading Plan, by subscribing to our 'Trading Blog' (no email address necessary). I am continually adding content and every update of this site is announced here, including minor content updates, page additions, and product releases. So stay plugged in by subscribing to this site's RSS feed. Copy and paste the address below into your RSS reader to receive the Trading Plan RSS feed... http://www.trading-plan.com/Trading-Plan.xml Not sure what RSS is? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Previous Issues Only just joined the mailing list? That's OK - you can read all of the previous issues of the Trading-Plan ezine. Visit http://www.trading-plan.com/ezines_previous.html to access the archive. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Filtering software may prevent you from receiving Trading-Plancommunication, including my ezines. To ensure that you never missan e-mail from me, please follow these tips... http://www.trading-plan.com/whitelisting.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Online Trading Forum Do you want to learn from the experiences of others in a friendly online trading forum? I now frequent and contribute to the online trading forum called Stock Meeting Place. Membership is easy and free. You can come along and ask any trading question in one of the numerous sections of the forum and receive a helpful response from one of the many members (approximately 2000). This forum is the only place online where you will also find Daryl Guppy, the well known trader and author. Remember, there is no such thing as a silly question so visit, sign up and ask a question. Visit http://www.trading-plan.com/trading_forum.html for more information. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ -- 1 -- Quote on Patience and Perseverance “Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish.” John Quincy Adams (1767 - 1848) -- 2 -- Interview - Joe DiNapoli from the United States * Background Info / Introduction * Q. Can you please start by making a few comments about yourself to include your trading style and what products you trade, your experience in years, and what other things of a trading nature take your time on a regular basis (e.g. writing trading books/contributing to forums/coaching/speaking engagements)? Regarding extra curricular trading activities, I’m involved in all of the above and I thoroughly enjoy the interactions with my clients. I’ve been at this about 40 years. I’ve been a registered CTA for over 20 years and I’ve traded almost everything under the sun. I traded the S&P futures index since it started in 1982 and the value line index before that. The list of what I’ve traded is just too long to include in this. Suffice it to say, I trade all time frames… from three minute to quarterly and damn near anything that moves. Q. It is fair to say that most people are initially attracted to trading by money. Is this what initially attracted you or was it something else? These days, most people are attracted by the lure of easy money propagated by the sharks in the industry. Make 1832% on your money in just three weeks. Pure B.S. If we get past that layer, I think money is the excuse. The challenge and the risk are the real attractions. Figuring out the puzzle was a big motivator for me. Q. What are some of your good and bad memories of your early trading days? Well, some good memories have to do with making more money than I knew what to do with. And some of my bad memories had to do with being plugged into a heart monitor due to excess stress reactions brought about by trading too many markets on an absurd schedule. I’ve mellowed with age. Q. How would you describe a couple of your biggest mistakes in your early trading days? Well, you have to realize that we’re going back about 40 years, 1967 to be specific. Back in those days, I thought that buying on heavy margin was the right thing to do. I was working at a defense contractor in Southern California, fresh out of college with very little capital. The Credit Union, in their wisdom, was willing to loan 70% of the asked value of the stock and they weren’t sophisticated enough to know a highly speculative stock from something that was stable. This story is part of the Trading Course I offer. I managed with limited skills, to parley a very small amount of money into a considerable amount of money and lost about half of it back in a very short time. Excess margin was a mistake, one that I have never repeated. Q. Looking back to the beginning, in the face of the usual challenges, what motivated or inspired you to learn to trade well? The challenge of the market place - the promise of being my own boss. Being able to work and live where I please without the need for employees. It’s worked out as I planned but it was far from easy. Q. On reflection, was there a single moment in time or situation that ultimately had the greatest influence on your trading? Well, I met some people along the way who gave me a helping hand. This was confined to five to fifteen minute meetings where these people pointed me in the right direction. In the 70’s, we didn’t have any organized ways of learning this game. I spent years poking around a black closet. Fortunately, I ran into some sympathetic people who had a flashlight and they pointed it in the right direction. The understanding, use and development of effective leading indicators are what really turned me into a professional trader. Joe has written some great content in this interview which is too much to publish here in this ezine - please visit www.stuartmcphee.com/trading/interview_joe_dinapoli.html to read the interview in full. -- 3 -- MetaStock Programming Workshop - Singapore (9 and 10 March) I will be conducting a MetaStock Programming Workshop on the evening of Friday 9th March and all day Saturday 10th March in Singapore. The Explorer is arguably the most powerful tool within MetaStock. The reason being, it allows us to perform in-depth explorations, scanning thousands of securities, to identify those securities that exhibit pre-defined criteria. This could involve anything from finding securities that have hit their 6 month high to those whose stochastic oscillator has moved above the 20 line, or both. It’s completely up to you. More than that, The Explorer then becomes a multi-purpose analysis tool. That is, we can use it to search, sort, and rank the information gathered. In the past, to achieve all this would be almost impossible, but now once we learn how, MetaStock can change the way we identify trading opportunities. It is the Explorer that sets MetaStock apart from most charting software. Not only can it scan for certain criteria, MetaStock can also use specific indicators to track your exits once in the trade. This is very special aid as it assists you in on the more important trading decisions you make – when to exit. Further, the powerful expert advisor can be programmed to calculate your position sizing, stop losses and all components of your risk management processes. It is unfortunate that many MetaStock users are not aware of the true power of the software and struggle to use it to its full potential. It is a great tool that can greatly assist the trader in a number of different key areas. Bookings and further details are available by contacting Dickson Yap on +65 9788 8141 or by email at dicksonyap@dpr-intl.com -- 4 -- Asia Trader and Investor Convention - Kuala Lumpur (17 and 18 March 2007) I will be presenting two 30 minute seminars at the Asia Trader and Investor Convention, to be held in Kuala Lumpur, Malaysia on 17 and 18 March 2007. My topic will be Developing your Trading Plan. Further details are available by visiting http://www.theatic.net/ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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