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Trading from Your Gut

Published on February 3, 2010

Trading from Your Gut

February 3, 2010

Ever thought of understanding what does it take to be A Turtle Trader? What is “Trading from Gut“? How to make decision based on System Trading + Intuition Trading? Here is your chance to ask questions directly from the Turtle Trader, Curtis Faith, as I interview him during last week of Feb’10. Limited number of books will also be given away for FREE to those asking excellent questions that help in explaining the “Trading from Gut” concept much better.

The questions may be either on turtle trading, his past books or on the new book, Trading from Your Gut: How to Use Right Brain Instinct & Left Brain Smarts to Become a Master Traderut, that was just published last month. Pls do feel free to share real life examples as well.

Trading from Gut shows how both types of traders, systems traders and discretionary traders, can benefit from whole mind trading. Opportunities come and go quickly in the new economy. Sometimes, the ability to think and act quickly based on gut instinct will reap the biggest reward for those traders who know both methods and how to use them together.

Though I shall write my own review of the book later on, here are key insights from his book, Trading from Your Gut

  • The critical role of experience and proper training: Why i.e., the novice’s gut is often wrong.
  • How to train yourself to overcome cognitive biases that lead you to mistakes: such as letting in too much noise, panicking over losses, wishful thinking, over reliance on recent experiences, inertia, and “herd” behavior or following the bandwagon instead of developing your own reasons for trade.
  • Building blocks basics. A clear easy-to-understand explanation of the structure of the markets including: the cycles of prices, market psychology (including fear and optimism), and the push and pull between sellers and buyers to help you develop your own market strategies
  • How to find opportunities: choosing the right trades (rather than making too many trades), being on the look out for the right conditions, triggering events, and mispricing. Also how to set up rebound swing trades.
  • Training to be a master: Specific steps you can take to train both your analytic and intuitive mind to work together with simplicity and speed, as markets require. Using both the left (analytical) and right (more intuitive) sides of the brain for success.

Here is the snapshot of what Faith has to say about “Trading from Gut“-

“The best traders have learned to combine the benefits of left-brain analysis and logic with right-brain big-picture intuition. So the best systems traders have learned how to draw upon the intuition and pattern recognition abilities of their right brains in the development of new trading ideas and to build strategies that are impossible without the use of human intuition, and the best discretionary traders have learned how to use left-brain analysis and logic to build a better framework for their mainly right-brained trading methods.”

ABOUT THE AUTHOR
You may find more about Curtis from his website, Curtis Faith, but here is a snapshot; he is known for getting his start as a member of the elite Chicago trading group, the Turtles. In his early 20s, Faith earned more than $30 million dollars as a member of the renowned group that started as a bet between it founders, Richard Dennis and William Eckhardt. Faith reveals the inside story of his days as a member of this secretive trading group in his bestselling book Way of the Turtle, which has sold over 70,000 copies and has been translated into 9 languages. Drawing from his unique experience as an original Turtle, as well as a successful entrepreneur – having founded several software and high tech start ups — Faith has developed a “whole mind” approach that will give traders at all skill levels the tools to become a master trader.

Profitable Trading, OP

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