Markus Heitkoetter
As CEO at Rockwell Trading, Inc., Markus has taught hundreds of investors in the U.S. and European markets. Markus started trading 19 years ago, using point and figure charts from published numbers in the morning newspaper, mainly with stocks. In 1996, he began developing a number of trading systems by using SuperCharts (which is now TradeStation), MetaStock, OmniTrader and other software. In 2002, Markus decided to quit his regular day job as a director at IBM and become a professional trader. He moved from Germany to the United States to get started.
Throughout his career, Markus has traded EVERYTHING: stocks, options, futures, commodities, spreads, Forex, foreign markets, interest rates, etc. If it’s out there, he’s probably traded it. In addition, he’s traded on a wide variety of different timeframes: ticks, 1-, 3-, and 5-minute, hourly, daily, and weekly.
In the past 5 years, Markus has taught his strategies and methods to hundreds of traders all over the world, offering educational webinars for the CME (Chicago Mercantile Exchange), Eurex, FxStreet, Strategy Runner, and other financial companies. He’s written articles on over 500 websites, and he’s become an expert contributor on ezinearticles.com, Yahoo Answers, and FAQTs.com. Markus holds the German equivalent to an MBA in Business Administration and Computer Science.
ClicK Here to learn more about Rockwell Trading, Inc.
Click Here for a Free Day Trading Strategy Lesson
As CEO at Rockwell Trading, Inc., Markus has taught hundreds of investors in the U.S. and European markets. Markus started trading 19 years ago, using point and figure charts from published numbers in the morning newspaper, mainly with stocks. In 1996, he began developing a number of trading systems by using SuperCharts (which is now TradeStation), MetaStock, OmniTrader and other software. In 2002, Markus decided to quit his regular day job as a director at IBM and become a professional trader. He moved from Germany to the United States to get started.
Throughout his career, Markus has traded EVERYTHING: stocks, options, futures, commodities, spreads, Forex, foreign markets, interest rates, etc. If it’s out there, he’s probably traded it. In addition, he’s traded on a wide variety of different timeframes: ticks, 1-, 3-, and 5-minute, hourly, daily, and weekly.
In the past 5 years, Markus has taught his strategies and methods to hundreds of traders all over the world, offering educational webinars for the CME (Chicago Mercantile Exchange), Eurex, FxStreet, Strategy Runner, and other financial companies. He’s written articles on over 500 websites, and he’s become an expert contributor on ezinearticles.com, Yahoo Answers, and FAQTs.com. Markus holds the German equivalent to an MBA in Business Administration and Computer Science.
ClicK Here to learn more about Rockwell Trading, Inc.
Click Here for a Free Day Trading Strategy Lesson
Why You MUST Stay In Contact With Other Traders
Posted 10-30-2008 at 10:04 PM by RockwellTrading.com
Why You MUST Stay In Contact With Other Traders
Today I finally found some time to read Adrienne Laris Toghraie's excellent newsletter "The Discipline Perspective of Trading". Adrienne is a Trader's Coach and has taught hundreds or maybe even thousands of traders emotional control and discipline.
In the latest issue of her newsletter, Adrienne talks about "Excellence Versus Mediocrity in Trading". She explains the relationship between excellence and competition. In a nutshell: Without competition you won't be able to achieve excellence.
You need to measure your results against your own standards AND the results of other traders. If you trade in a vacuum, it will be difficult to put the power of competition into your performance. You need to stay in contact with other traders and see how they are doing. If you find a trader who achieves better results that you do, learn from her. What is she doing that you don't do yet? What techniques does the other trader uses? How did she improve her trading results?
NEVER stop learning! There are many ways to make money in the markets, and the more you know the better trader you will be. Like in every other profession, you want to get better every week, every months and every year.
However, there are a few pitfalls:
1 .Don't chase the Holy Grail! You won't be able to achieve a winning percentage of 100%. Make sure that the standards that you set for yourself are still realistic.
2. Make sure that the trading style fits YOUR goals and preferences. You might find a trader that achieves better results that you do, but her trading style might not be a good fit for you. Last weekend I talked to Dan Gramza, a professional trader and an excellent educator, and he likes to day trade AND to establish some long term positions that he holds for several weeks or sometimes a few months. This long term swing trading approach is definitely not for me.
3. Make sure that your source is credible. It seems that a trader's performance is getting better every time he talks about it. This seems to be a human phenomena: Have you noticed that the "deal" that you friend got on his new car gets better and better every day? Adrienne suggests that you read what your "teacher" has written on the subject. Another way is to attend her seminars, workshops, public talks, chat room sessions, etc. One of the best ways is through personal recommendation from other traders.
Knowing these pitfalls will help you avoiding them.
How do you find other traders?
One of the best ways is to meet them is in person in seminars and workshops. Be careful when approaching traders in free workshops: Often these traders are not yet trading or are not successful. Profitable traders attend PAID workshops since they know the value and can afford to pay for it. Don't be shy to contact traders through professional networks like LinkedIn. Stay away from forums and chat rooms: Most of the time you will only meet "Keyboard Cowboys" with a big mouth and nothing to show.
How do YOU meet other traders? - Leave a comment!
Today I finally found some time to read Adrienne Laris Toghraie's excellent newsletter "The Discipline Perspective of Trading". Adrienne is a Trader's Coach and has taught hundreds or maybe even thousands of traders emotional control and discipline.
In the latest issue of her newsletter, Adrienne talks about "Excellence Versus Mediocrity in Trading". She explains the relationship between excellence and competition. In a nutshell: Without competition you won't be able to achieve excellence.
You need to measure your results against your own standards AND the results of other traders. If you trade in a vacuum, it will be difficult to put the power of competition into your performance. You need to stay in contact with other traders and see how they are doing. If you find a trader who achieves better results that you do, learn from her. What is she doing that you don't do yet? What techniques does the other trader uses? How did she improve her trading results?
NEVER stop learning! There are many ways to make money in the markets, and the more you know the better trader you will be. Like in every other profession, you want to get better every week, every months and every year.
However, there are a few pitfalls:
1 .Don't chase the Holy Grail! You won't be able to achieve a winning percentage of 100%. Make sure that the standards that you set for yourself are still realistic.
2. Make sure that the trading style fits YOUR goals and preferences. You might find a trader that achieves better results that you do, but her trading style might not be a good fit for you. Last weekend I talked to Dan Gramza, a professional trader and an excellent educator, and he likes to day trade AND to establish some long term positions that he holds for several weeks or sometimes a few months. This long term swing trading approach is definitely not for me.
3. Make sure that your source is credible. It seems that a trader's performance is getting better every time he talks about it. This seems to be a human phenomena: Have you noticed that the "deal" that you friend got on his new car gets better and better every day? Adrienne suggests that you read what your "teacher" has written on the subject. Another way is to attend her seminars, workshops, public talks, chat room sessions, etc. One of the best ways is through personal recommendation from other traders.
Knowing these pitfalls will help you avoiding them.
How do you find other traders?
One of the best ways is to meet them is in person in seminars and workshops. Be careful when approaching traders in free workshops: Often these traders are not yet trading or are not successful. Profitable traders attend PAID workshops since they know the value and can afford to pay for it. Don't be shy to contact traders through professional networks like LinkedIn. Stay away from forums and chat rooms: Most of the time you will only meet "Keyboard Cowboys" with a big mouth and nothing to show.
How do YOU meet other traders? - Leave a comment!
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