Here we are, the fourth episode of Chat With Traders and I’m joined by a special guest who has ridden many waves of the financial markets. Placing his first trade in 1985, Nick Radge was immediately hooked on the idea that one could profit from identifying trends.
Nick is here today to share some of the crucial lessons that have kept him in the game for almost 30 years. What I like most about this interview is Nick shines light on many areas of trading that are not often spoken about. I’ve briefly listed just a few of these lessons below, but listen to the full interview and discover how you can use these to become a sharper trader.
Lessons learnt in this interview:
- Why trend followers should think like hitchhikers.
- The common misconception of professional traders. Why it is not necessary to make money every day, every week, every month to be profitable.
- Quantitative vs Qualitative – the significant topic that is rarely spoken, and could potentially keep you off the beginners cycle.
- How to know if (or when) your trading system is broken.
- The two areas new traders often find themselves in trouble. Although these are common problems, these might not be the answers you would expect.
- And much, much more…
Links and resources mentioned:
- Recommended Reading – Trading For A Living by Dr Alexander Elder. This is the one book Nick suggests every new trader should read, available on Amazon.
- Also check out Nicks book, Unholy Grails – A New Road To Wealth, available on Amazon.
- This video of Nick speaking at a technical analysis conference in 2009, is relevant to many of the things discussed in this interview. I suggest watching this video to get a good grasp on “Quantitative vs Qualitative” – it really helps to put things in perspective of the big picture, and this information is rarely found elsewhere.
- To learn more about Nick, visit thechartist.com.au.
- You can also catch Nick on Twitter @thechartist, and on Facebook.
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