Brian Shannon of www.alphatrends.net and @alphatrends was our special guest speaker yesterday. During a busy week of trading, the NYC Trader Expo, and meetings, SMB was grateful that our good friend found some time to talk with our desk. It was a lecture not to be missed. Thank you, Brian!
Here are ten things that I learned from Brian’s lecture:
1. Brian does more preparation than 98 percent of all the traders with whom I have traded or trained.
2. Brian knows exactly how he makes money as a trader and which setups are best FOR HIM.
3. Brian accepts that the trading patterns that are best for him often may not work.
4. Brian reduces his risk in trades that are not working for him quickly.
5. Brian trades Stocks In Play just like SMB though goes about his search distinctly. He carries around a list of 200 stocks he most wants to watch during a given period and then hammers down from these options daily.
6. Brian readily admits two weaknesses in his trading which are also mine: selling too early and not having size for the entire move. There is no destination for a trader. There is nothing to get. There is only continually working to improve everyday.
7. Brian knows more about technical analysis than almost all traders but seeks confirmation from the order flow.
8. Brian shares that a set up may not work the first or second time. But he has the confidence and persistence to stay with his best setups and make that third trade that may lead to a winner.
9. Brian left me an autographed copy of his book, Technical Analysis Using Multiple Timeframes, as a gift. I could use some help with his handwriting. 🙂 But seriously, what an awesome gift!
10. Brian loves drinking with GMan. Hard to meet a better person and trader to learn from than Brian Shannon of alphatrends.net.
You can be better tomorrow than you are today!
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