The SECRET Art & Science of Technical Trading with Adam Grimes

Published on May 10, 2020

Find Interesting Stories Explaining Forex Position Trading Musician, The SECRET Art & Science of Technical Trading with Adam Grimes.

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Adam Grimes has two decades of experience in the industry as a trader, analyst and system developer.
Growing up in an agricultural community in America’s Midwest, Adams first trading experiences were in agricultural commodities and futures.
He then moved to currency futures, trading during the Asian Financial Crisis, and to stock index futures and individual stocks. His trading experience covers all major asset classes–futures, currencies, stocks, options, and other derivatives, and the full range of timeframes from very short term scalping to constructing portfolios for multi-year holding periods.

Adam holds an MBA from The Ohio State University, and is currently Chief Investment Officer of Talon Advisors, LLC, a boutique research and advisory firm for which he writes daily market commentary and trade notes.

Prior to joining Talon Advisors, Adam held the positions of VP of Quantitative System Development at Level Partners, LLC, Senior Analyst and Trader at MBF Asset Management on the New York Mercantile Exchange, and Chief Technical Strategist at SMB Capital.

Adam is the author of The Art & Science of Technical Analysis: Market Structure, Price Action & Trading Strategies, published in 2012 by John Wiley & Sons.
Adam is also a contributing author for several publications on quantitative finance and related topics, and is much in demand as a speaker and lecturer on the topics of technical trading, risk management, and system development.

Adam is also an accomplished musician, having worked as a professional composer, and classical keyboard artist specializing in historically-informed performance practices. He is also a classically-trained French chef, having served a formal apprenticeship with chef Richard Blondin, a disciple of Paul Bocuse.

In this video, we talk about all of the common issues that people are faced with when embarking on a trading journey right through to becoming consistently profitable.

The underlying message in this video is that successful trading isn’t about the golden system. Its about the learning process. Its about understanding the fundamentals of reading price, building and developing a system that suits your personality and being persistent.

In this video Adam goes over:

1) Want to trade – The importance of knowing why you are doing it. He explains how he decided to be more of a swing trader because he didn’t want to be in front of the charts every day . His passion is cooking and music. Trading was a vehicle for him to concentrate more on his passions.

See also  Forex position trading strategy System Signal Scalping

2) Expectations – How long the process should take. Adam found out the hard way and believes that most traders become consistently profitable after 3 years of trading.

3) Accountability – Having the right people around you. Talk to people about trading and be open with friends and family even if they don’t want to hear it. Teaching makes you a better trader.

4) Learn – The correct process of learning. Don’t jump around. Stick to a system and develop it. Adam still trades a system close to what he learnt in the early days with some discretionary development.

5) Trading – Building discretion and improving. Work on your craft constantly.

6) Have & Help – Results, helping others and education. Adam now advises people on asset management and runs Talon advisors.

Social:

Adam Grimes Twitter: @AdamHGrimes

Adam Grimes Blog: https://adamhgrimes.com

Talon Advisors: https://www.talonadvisors.com

Get your hands on a copy of the book “The Art & Science of Technical Analysis” here:

FINALLY

Thanks again to Stopped Out Apparel for the Tee Shirts. Check them out:

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Filming by Tim Harrison https://tharrison.online/

The SECRET Art & Science of Technical Trading with Adam Grimes, Forex Position Trading Musician

Forex Position Trading Musician, The SECRET Art & Science of Technical Trading with Adam Grimes.

What is a Placement Investor?

Position trader describes an individual who holds a financial investment for an extended amount of time with the assumption that it will value in worth. The average amount of time for holding settings can be measured in weeks to months. They are much less concerned with short-term fluctuations and the news of the day unless it affects the long-term sight of their position. Position investors do not trade actively, with many putting less than 10 professions a year.

What tools do position investors usually trade?

Position trading is the style of trading that is most akin to investing. Position investors are looking to benefit from long-term activities and are consequently much more interested in markets with clear fads, as opposed to markets that have a lot of volatility but inevitably profession within a tight cost array.

Shares CFDs

Shares in business are commonly traded by position investors. As a general general rule, asset classes like shares are prone to much more stable fads when compared to extremely unstable markets such as cryptocurrencies and specific foreign exchange markets. In spite of specific events, such as market announcements and wider relevant news, basic analysis of a company’s underlying organisation model and accounts is a strong basis from which position investors can examine the well worth of a company, and consequently emphasize possibilities. They can guess on where they believe specific firms, and also sectors, will wind up in a year’s time.

Product CFDs

Similarly to shares, products are much more vulnerable to longer term fads when compared to other markets, such as cryptocurrencies and specific currency sets. This is not to state that products are not unstable. Products can be unstable at times, but often tend to secure faster than other markets, and profession within tighter varieties. Hard products are drawn out and so their supply is regulated by mining business, which means they often tend to have fairly stable fads. They are much more vulnerable to shocks sought after, with supply being fairly stable.

See also  Forex position trading strategy System Signal Scalping

Indices CFDs

Indices are included many business that, typically, aren’t associated. They often tend to be from the very same geographic location, whether that be a specific nation, profession group or continent. As a result, indices generally have articulated fads and are favoured by position investors. As an example, the FTSE 250 is a great indication of the financial health of the UK the index is commonly unaffected by short dips in a specific sector. Trading indices enables much less noise and clearer fads (in either direction), which is complementary to place trading.

Foreign exchange CFDs

Money sets, partially because of their volatility, are favoured much less by position investors. That stated, there are specific wider political fads that can cause clearer and longer-term fads in the foreign exchange market. As an example, supposition after the UK-EU vote result provided a clear trend for the adhering to six months to one year period.

Cryptocurrency CFDs

Cryptocurrencies, regardless of being reknowned for their extreme volatility, attract some position investors who use buy and hold strategies for certain cryptocurrencies that they expect to rise considerably in worth. Position investors of this kind are probably inspired by those investors who handled to gain from the cryptocurrency bubble, going out prior to it burst. Cryptocurrency markets are extremely unstable and those who use buy and hold strategies need to do so at their own danger.

Is Position Trading for You?

All capitalists and investors need to match their trading style with their own individual goals, and each style has its advantages and disadvantages. The very first factor to consider should be the factor you are buying the starting point. Are you constructing a savings for the future? Do you intend to make a living trading? Or do you simply take pleasure in dabbling in the market based upon your own research and want to own a piece of a company? As well as how much time do you want to dedicate every week or daily to tracking your portfolio?

You need to likewise understand the type of market in place. Is it a booming market with a solid trend? If so, position trading is ideally matched. Nevertheless, if it is a bearish market, it is not. Also, if the market is level, relocating sidewards, and just shaking around, day trading might have the advantage.

You may be a forex position trader if:

  1. You are an independent thinker. You need to be able to ignore popular opinion and make your own enlightened assumptions as to where the market is going.
  2. You have a terrific understanding of fundamentals and have excellent foresight into just how they affect your currency set in the long run.
  3. You have thick skin and can weather any retracements you face.
  4. You have enough capital to hold up against a number of hundred pips if the market breaks you
    You do not mind waiting for your grand reward. Long-term foreign exchange trading can net you a number of hundred to a number of thousands of pips. If you get thrilled being up 50 pips and already want to exit your profession, take into consideration transferring to a much shorter term trading style.
  5. You are extremely patient and calm.
See also  Forex position trading strategy System Signal Scalping

You might NOT be a forex position trader if:

  1. You quickly get persuaded by popular opinions on the marketplaces.
  2. You do not have a good understanding of just how fundamentals affect the marketplaces in the long run.
  3. You aren’t client. Even if you are somewhat patient, this still might not be the trading style for you. You need to be the utmost zen master when it happens this type of client!
  4. You do not have enough beginning capital.
  5. You do not like it when the market breaks you.
  6. You like seeing your outcomes fast. You might incline waiting a couple of days, but a number of months and even years is just too wish for you to wait.
The Bottom Line

Similar to relatively everything in the financial sector, the approach of position trading comes with advantages and downsides. Several individuals locate the opportunity of understanding sizable gains with catching a trend eye-catching, while others are wary of being subjected to the opportunity of a widespread financial collapse.

The decision of just how to involve the marketplaces lies within the individual. While position trading is a terrific suitable for some, it can be a detriment to others. The obligation for selecting an optimum trading methodology likewise lies with each aspiring trader or capitalist. If the ideal time, capital and character is present, after that a method of position trading might be ideal.

Any opinions, news, research, evaluations, prices, other details, or web links to third-party websites are provided as basic market commentary and do not make up investment guidance. FXCM will not accept responsibility for any loss or damages including, without constraint, to any loss of revenue which might occur straight or indirectly from use of or dependence on such details.

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