Wed, 5 September 2012
Michael Covel speaks with trader, author and blogger Steve Burns. Burns has written two books (his most recent book "New Trader, Rich Trader: How to Make Money in the Stock Market" is available on Amazon) and operates an educational website. Burns is an up-and-comer, and Covel talks to him about his early start, his Nashville location and lessons learned along the way. Burns' start came during the tech bubble of the late 1990's, and he discusses how the bubble bursting helped to shift his perspective from a fundamental, buy and hold approach to the trend trading perspective he's adopted today. Covel expands on some of the chapter titles in Burns' book, such as "New traders try to prove they are right, rich traders admit when they're wrong," and "New traders bet the farm, rich traders carefully control position size." They also discuss the problems with buy and hold; how "rich" can be a mindset rather than a number; the role of luck and circumstance in trading; staying away from the need for constant action and waiting for the "fat pitch"; developing a robust system; staying away from predictive trading approaches; and viewing the markets as a video game as a means to help with trend trading understandings. Special Offer: receive free DVD delivered to your home or office: www.trendfollowing.com/win.