AFACT Anniversary Dinner 2014 – 3 Key Lessons from the Big Boys & Pit Traders

I just got back from an exciting night at the AFACT (Association of Futures & Commodities Traders) Anniversary dinner, which was sponsored by SGX, and graced by the Former president of SGX, Mr. Ang Swee Tian, and the President of AFACT, Mr. Ng Tee Hao.

Mr. Ng shared 3 important lessons, which he called the 3S’s.

  1. Stay nimble
    Nowadays, things change faster, and strategies get outdated faster. In the past, the same strategy could be used for years, but now it will typically only last 3 months or less. Therefore, as traders, we need to keep changing and evolving to come up with new strategies.
  2. Stay humble
    No matter how good you are, do not be arrogant and stop learning. Read more books, and talk to more people, and treat learning as a lifelong process. Also, do not be arrogant in the market. Even if you have a lucky winning streak, always remember to have a good risk management system in place.
  3. Stay in touch
    Always keep in the loop with other traders to exchange ideas and share experiences. Talk to more people to get different views, and travel more to broaden your horizons.

If you find these tips useful, feel free to share them with your friends. I think there is much wisdom in his words.

It was a rare chance to see a gathering of all the Big Boys, and to catch up as well with my former colleagues and friends. I always enjoy chatting with other real professional traders, because through sharing, I get many new insights on trading and the markets.

A big thanks to SGX and AFACT, and I’m looking forward to the next big event! Cheers! 😀

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ALL YOU NEED TO KNOW ABOUT TRADING!

Hi, Spencer here! 😀

After making my first million at 28, and trading & teaching across 50+ countries, I have consolidated my knowledge and experience to create the most comprehensive & practical guides for profitable trading, compiled from thousands of books, websites, courses, and interviews with professionals.

As a former professional trader in private equity and proprietary funds, I have over 15 years of market experience, and have been featured on more than 20 occasions in the media.
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