The Simple Trader – The core of success

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    I’ve been trading for what seems like most of my life – too many years to admit to. The good part is that I have learned so much, studied so much, annoyed teachers and gurus so much, and made so many mistakes that I now have a wealth of experience to share.

    Included in this is the philosophy and practice of trading that I have been developing over the last decade or so that I call “The Simple Trader”. What this means is that, in its essence, trading is very simple, and, if we always remember the simple tools and their interpretation, we will succeed. I think I fully realised this only after I studied and passed the CMT1 course, with the generous assistance of Mathew Verdouw.

    So I decided to create a series of videos to try to share this experience and the techniques, to educate and enlighten as many new and experienced traders as I could reach. This has become my mission. I don’t mean to sound arrogant or self -congratulatory, but the simple fact is that, as one progresses through years of dedication and study, analysing thousands of charts, using all the various software, trying all the trading methodologies, one accumulates a knowledge and awareness that should be passed on to the new players to get them started on the right road, or to more experienced practitioners to provide an alternative or different view that may contribute to their better success. That’s all. That’s the purpose. Experience must be passed on.

    I know for a fact, from my own experience and experimenting, that success comes less from more powerful tools and more from the more powerful understanding and interpretation of the tools we are already using. In fact, success is entirely a matter of the interpretation of what is on the chart, basic tools,  a simple methodology and a study of probabilities and our own statistics of success. You need to know what Expectancy, Risk of Ruin and Trade Risk/Return and Consistency are. They are the core of success. If you are just an analyst, this may not be for you. But if you are a trader, and your analysis is for purposes of trading, this is definitely for you. Note, I am not addressing investors here. I am talking to traders.

    Let me offer this to begin. Optuma is by far the best software I have come across, and the support and enthusiasm of the team behind Optuma is superior to any I have met. So, as an Optuma user, you are already on the front foot. Congratulations. I have been using it for about fifteen years. Now, given how powerful and extensive Optuma is, you need to know how to use it to serve your purposes. You can get lost in its huge catalogue of tools, all of which are valid and useful because it addresses many different needs. But you must select what works for you, focus on that and refine your understanding. Simplicity is at the core of success. Study that!

    I have completed and published the first of the three videos that will make up this series that I call “The Simple Trader”. I am currently recording the second video. The first video is over four hours long. The others will be similar in length. Simplicity, it seems, takes a long time to explain and to illustrate with charts and diagrams. When I started this, I had no idea of the extent of the commitment that I was making. It took me five months just to put the material together, then I had to get the recording software and learn how to use that. It has been a huge undertaking but, if I can reach a reasonable number of traders, it will have been worth it. I have not done it to make a fortune, so I have kept the financial commitment extremely low so that the decision to commit is not a difficult one. I make my living from trading, not from recording videos.

    Alan Oliver has endorsed this effort and has generously offered to host the videos on his website. So, if this seems of interest, go to this link to find out more about me and about the videos. The rest is up to you.

    The Simple Trader – Trading With Gann

    All the best
    Michael Colantoni

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