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Jake Bernstein Introduction Trading Model And Patterns AUSTRALIA February 2008 © 2008 by Jake Bernstein.

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Presentation on theme: "Jake Bernstein Introduction Trading Model And Patterns AUSTRALIA February 2008 © 2008 by Jake Bernstein."— Presentation transcript:

1 Jake Bernstein Introduction Trading Model And Patterns AUSTRALIA February 2008 © 2008 by Jake Bernstein

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3 The Trading Model S-T-F Unless you have a trading model you are doomed to failure A trading model provides structure My Model: SETUP-TRIGGER-FOLLOW THROUGH Set up: A high probability pattern (examples) Trigger: Increases the odds of a set-up NO SETUP – NO TRIGGER = NO TRADE You MUST have a reason for EVERY TRADE Follow-through: Risk management/Profit Maximizing Consider the fate of the typical trader © 2007 by Jake Bernstein

4 What happens to the typical trader? Consecutive losses Changing the system What most traders can handle 90% of your money on 10% of your trades Small profits and large losses Lack of confidence and lack of discipline Disorganization Too much information Too many opinions Danger of chatrooms

5 Types of Set-ups Price patterns – support/ resistance / trend Time patterns - cycles Price relationships – open / high / low/ close Monthly seasonals Weekly seasonals Daily seasonals Key date seasonals Spread seasonals EXAMPLES Set-ups, triggers and follow through Unless you can maximize profits you won’t win

6 Psychology, Discipline and Confidence The weakest link in the chain What cases lack of discipline? Why do traders lose with profitable systems? Why do traders make money with losing systems? How confidence creates discipline What creates confidence? How to help create confidence What if it doesn’t work? Finding a professional for help Should you be trading?

7 Making the commitment  Take the challenge  Don’t paper trade  Why you should use real money  How to do it © 2007 by Jake Bernstein

8 Would You like a Broker Who Knows Jake’s Order Styles? Check Out Boutique Broker I-Deal and ask for your Special Jake Bernstein Student Offer –

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32 31 days 26 c>o = 83%

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65 Jake Bernstein Why Traders Lose How Traders Win AUSTRALIA February 2008 © 2008 by Jake Bernstein

66 Goals and Why Me To review and explain winning trader behaviors To review and explain how traders win Based on my near 40 years of trading experience Based on my personal mentoring of hundreds of traders Based on my more than 650 seminars all over the world Based on my thousands of trades Based on my education in clinical psychology Based on my own mistakes Based on my own successes Not the “same old stuff” My 1982 book “The Investors Quotient” by Wiley – still a classic best seller What we will learn today © 2007 by Jake Bernstein

67 Jake Bernstein’s Trading Rules If you can’t test it don’t trade it If you have to think too long you’re about to lose Don’t analyze – actualize Too many inputs= too little reality The smaller the stop loss the worse the results Find your time frame and trade within that time frame Get organized or get out Diversify or lose The big money is made in the big time frame Don’t average in but scale out © 2007 by Jake Bernstein

68 Common thinking gets common results Common results means that you WILL lose money The small trader isn’t always wrong The large trader isn’t always right By the time you hear the news its old news Look at enough indicators and you’ll find what you want Most indicators have never worked and never will Normal market behavior teaches us nothing Unusual market behavior brings unusual opportunities High accuracy does not always lead to profits A few good trades will make all the difference Setup - Trigger and Follow through will make the big difference in your results © 2007 by Jake Bernstein

69 Time is more important than price Risk is more important than reward What you do with profits is more important than how you take your losses If you can’t take at least six consecutive losses then don’t even think about trading Traditional moving averages get traditional results Never trust the markets to do what you think they should do - trust only yourself to do what you have to do Diversify across markets, systems and time frames Avoid on line market chat rooms - they’re poison! If it seems logical then it’s probably wrong Leave your losing personal habits at home Bigger and faster computers do not necessarily lead to better results © 2007 by Jake Bernstein

70 Sample Track Record – Optimized MOM/MA © 2007 by Jake Bernstein MOM/MA optimized 11 market portfolio “Whizzard” system

71 Study time is not proportional to profits More is not necessarily better either in indicators, information or computer power Many mechanical trading systems perform much better than the individual trader (example) © 2007 by Jake Bernstein

72 © 2007 by Jake Bernstein Be Careful what you tell yourself…You may start believing it Be careful what others tell youYou may start believing it… Market myths perpetuate Common myths… Small stop losses will protect you The more you trade the more you make “I need to make $xxxxxx a month” Options are the best way to trade My broker is there to help me…are you sure? A bigger and faster computer will help you make more money Day trading S&P is the best game in town The FOREX market is the best market for profitable trading The myth of the 200 day moving average Follow what the professional traders are doing and you’ll succeed The REVERSAL and KEY REVERSAL are profitable signals Spread trading is virtually risk free © 2007 by Jake Bernstein

73 How A Jake Student has gone

74 Would You like a Broker Who Knows Jake’s Order Styles? Check Out Boutique Broker I-Deal and ask for your Special Jake Bernstein Student Offer –

75 How Jake’s Recent Trades Have Gone From His Broker From: Matthew Zimberg Optims Trading Group Sent: Wednesday, 20 February :55 AM To: JakeAtMBH Subject: Last Trades Hi Jake, You can show the following to your students: Your system has gone long the oil on the 13 th of Feb Today the market has jumped around $4. So far we have about 7K per one future contract. The Coffee, long on the 5 th of Feb About 5k per contract Both trades were taken from Whizzard. Good Job and THANK you for being in our lives. Matt

76 Adest.com.au Or call

77 Would You Like to Get The Software Jake Uses? You can and its Called Trade Navigator software-gold.htm software-gold.htm There is a special offer for Jake’s students Call and ask for it You can get a Full working 30 day free trial from:

78 How A Jake Student has gone

79 How Jake’s Recent Trades Have Gone From His Broker From: Matthew Z’berg Optis Trading Group Sent: Wednesday, 20 February :55 AM To: JakeAtMBH Subject: Last Trades Hi Jake, You can show the following to your students: Your system has gone long the oil on the 13 th of Feb Today the market has jumped around $4. So far we have about 7K per one future contract. The Coffee, long on the 5 th of Feb About 5k per contract Both trades were taken from Whizzard. Good Job and THANK you for being in our lives. Matt

80 Would You like a Broker Who Knows Jake’s Order Styles? Check Out Boutique Broker I-Deal and ask for your Special Jake Bernstein Student Offer –

81 Would You Like to Get The Software Jake Uses? You can and its Called Trade Navigator software-gold.htm software-gold.htm There is a special offer for Jake’s students Call and ask for it You can get a 30 day free trial from:

82 Adest.com.au Or call Jake Will Be Back in Sydney in June 2008 for 3 Days of Real Time Trading


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