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Trading Mastery Program (TMP) – Batch Q4 2017 is Full of Super Stars!

Last week, we concluded another exciting run of our “Trading Mastery Program”, where we imparted our proprietary “behavioral analysis” trading strategies to empower another batch of traders to create a 2nd source of income from any market (stocks, forex, crypto-currencies) by spending 15 minutes a day.

Day 2 of the “Trading Mastery Program” – excited to train the next batch of Superstar traders! 🌟💰😄

A post shared by Spencer Li 🇸🇬 Synapse Trading (@iamrecneps) on

 

Training Feedback from Attendees:

“Spencer’s course is very informative, would be a good place to kickstart a trading journey. He is open to sharing his trading experiences and tips. The games are fun and teaches very relevant trading lessons! – Charles Chia

“Happy with the course as it gives a good intro and holistic approach. A unique TA approach to market. Also comes with many tools to help us kickstart the process.”

“The course is well-planned and thought-out. As an experienced trader, I feel it definitely helps me to have an edge over the markets in various ways. Beyond the 2-day course, the level of support that is available make the course highly valuable.” – Shi Min

“A comprehensive and insightful course that is useful for those looking to understand technical analysis better.” – Daniel Tan

Would recommend this course to others. I think, more focus on each type/setup will be good.” – Junnaidy

“Simple (but not easy) top-down analysis. Great resources and support to understand content. Spencer has condensed his market knowledge and experiences for new traders to understand and learn well.” – Minghan, MOE

“I am more confident to trade better with the setups I have learnt. I confident to meet my goals if I take action.” – Joseph Benjamin

“Really enjoyed the training by Spencer. He makes a complicated topic easy to understand and actionable.” – David Lee, Offset Pte Ltd

“Spencer has been a very good coach and is very equipped with skills that he can impart to us!” – Jun Hao

“All is GOOD! Class pace is good… even beginner like me will be able to catch it quick.” – Samantha

“The course provided good training in the setups as well as important fundamental knowledge to be a good trader. Spencer was also very willing to explain concepts and was a great teacher overall. The games and group activities were pretty fun.” – Aw Jian Yang

 

Register Early to Avoid Disappointment!

We will also be opening a few seats to the public for each session, on a first-come, first-serve basis. for those who are keen, you can reserve your slot via this link: http://wp.me/P1riws-31L

Good luck to all the new “future millionaires”, and see you all at the top! 😀

Picking the Bottom for Bitcoin & Ethereum – When to Buy?

Recently, Bitcoin prices have crossed $4,800, and year-to-date, its price has surged nearly 400%, making it one of the best investments for the year. And it is not alone.

Other cryptocurrencies, such as Ethereum, have also been making new highs, and many more new products are hitting the market every day.

Which is why many of my friends, followers, and students have been asking me a lot about theses products, and most importantly, “when is a good time to buy?”

 

Sharing live on #cryptocurrencies like #bitcoin and #ethereum 😄 Are you ready for the next big thing? #visionaryinvesting

A post shared by Spencer Li 🇸🇬 Synapse Trading (@iamrecneps) on

When I first started trading, I was mainly doing stocks and CFDs, and I developed my “15 minutes a day” price action strategies for these. And as I expanded to new markets, I was pleasantly surprised to find that the same strategies worked perfectly well. To date, I have used them successfully on forex, futures, options, and most recently, on cryptocurrencies.

This means that for a new product like Bitcoin, which behaves very similarly to IPO stocks or some less popular penny stocks, its behavior can be best understood by studying its underlying price behaviour.

Many people who take one look at its prior meteoric rise will immediately come to the conclusion that is it near its high and too late to buy. But many people probably thought the same way about Apple and Tesla’s stock a few years back.

Hands-on analysis and study of Bitcoin chart for precise timing (at my new cafe)

 

This means that there is potential for cryptocurrencies to go much higher, but how do we time our entry into something that is moving so fast?

Turns out we do have the perfect strategy for that, which is similar to the strategy we use to enter fast-moving counters in times of a strong trend. In fact, I pointed this out using the chart of Bitcoin during my last few workshops, and also at Invest Fair.

Snippet from the “Synapse Network” private forum (posted 24 August 2017)

 

Bitcoin chart today (04 September 2017)

 

How far can this trend continue to run?

To be honest, no one can really tell, but all I know is that whenever there is a good buying opportunity, I will continue to add more positions to ride this strong trend until it ends. And when it does, I will get ready to short it down as well. 😀

But that is a story for another post.

Till then, trade safe, and aim big. Cheers!

Trading Mastery Program (TMP) – Batch Q3 2017 is Ready to Tackle Any Market!

Last week, we concluded another exciting run of our “Trading Mastery Program”, where we imparted our proprietary “behavioral analysis” trading strategies to empower another batch of traders to create a 2nd source of income from any market (stocks, forex, crypto-currencies) by spending 15 minutes a day.

 

Training Feedback from Attendees:

“Great course. I have studied about candlesticks and chart patterns before attending the course. However, not able to put them together to make consistent result. This course really stitch together and show me how to combine all the knowledge that I have learnt.” – Kyaw Zaw Than

Excellent and comprehensive course. Very systematic and clarity in the course.”

“Spencer Li is knowledgeable and able to articulate his points across.”

“I am new to this so I am very pleased with the step by step guide as to kickstart trading in the post-program resources.” – Jane

“Glad that I had attended the course. Spencer is a humble & friendly trainer/coach. He is able to explain/simplify the whole material in a very simple manner yet with a lot of meaning to it. Such as the behavior of price action, etc.” – Chi Wee

“Spencer is very knowledgeable and really knows his stuff. The techniques are explained clearly and simple for beginners like myself to understand.” – Eugene

“Spencer’s strategies are simple to understand. He is approachable and very helpful. I am happy with the post-programme support that is available to us.” – Juliana

“A great overview of what trading is about with strategies based on understanding which is delivered. I feel safe to start with trading now.” – Thomas

Strongly recommend this course for anyone that wants to do trading.” – Chua Swee Chin

“Course was comprehensive with clear explanation for each strategy taught. Good amount of case study to discuss for better understanding.” – Ethan

“This is my 1st resit, and will definitely come back for another if the need arises. This is because besides refreshing yourself, you get to learn new stuff and becomes more confident in trading.” – Johnson

“Spencer is extremely detailed and methodical in his explanation. Program is extremely comprehensive.” – Tessa Ong

“Before this I learnt a lot of strategies from books and friends – After this programme I learnt to stick to one and profit.” – Rahim, Freelance Artist

Trading made simple with only a few setup to master and focus on. Not too much information overload.” – Jude

 

Register Early to Avoid Disappointment!

We will also be opening a few seats to the public for each session, on a first-come, first-serve basis. for those who are keen, you can reserve your slot via this link: http://wp.me/P1riws-31L

Good luck to all the new “future millionaires”, and see you all at the top! 😀

Trading Mastery Program (TMP) – Batch Q1 2017 is Ready to Tackle the Big Boys!

Last month, we concluded another exciting run of our “Trading Mastery Program”, where we imparted our powerful “insider” fund trading strategies to empower another batch of traders to gain an unfair advantage in the market.

Reservations for our next intake are open, and you can start reserving your seats before they run out!
Find out more: http://wp.me/P1riws-31L

 

Training Feedback from Attendees:

“This course helped me identify weakness of my trading strategy and being able to time it to make it much better.” – Dominic

“If you are looking to gain strong fundamentals in technical and price action, attend this course! Spencer’s methods are well-calculated and systematic. Comprehensive course material and really liked live Q&A on google sheets. Food was great too!” – Ian

“The course started slow and went into climactic with all the swing, turn, break, & bounce. While overwhelmed with the new information, I believe there will always be support from this team!” – Tan Wei Peng

“The course note is very organized. The post-program schedule is useful. Spencer is able to clearly explain the fundamentals and setups well. Making the course easy to comprehend and execute.” – Tan Jiansen

“The training was comprehensive in covering the setups.” – Quek Boon Kiat

“The course provided very good foundation on price action trading strategy and Spencer displayed professionalism and knowledge in conducting the course. The emphasis on the right psychology and trading plan was very useful.” – Tong Kai Meng

“A very informative workshop for beginners. Chart reading is simplified, so are the steps for trading. It gives people realistic expectations of trading and also confidence to enter trading.”

“The course is structured and easy to understand. Gives me the knowledge necessary to do trading with increased confidence.” – Alan

“This is a great course for beginner or experienced traders. Is clear, simple and easy to understand.” – Francis

Fantastic program, simply the best. Professional. The quiz is superb!” – Syed, Rolls-Royce

“It breaks things down & simplifies information for you to use.” – John Goh

“This mastery program definitely enhanced my knowledge on forex.” – Terrance Tan

“An excellent course for beginner and advance traders. It brings you back to the fundamentals of a good trader and at the same time provide insights for advanced traders.”

“Appreciate that the materials are concise, simple to understand, and actionable. The resources are also made available to us after for reference. More importantly, there is a community to reach out to.” – Li Seng

“Overall, very structured. This course filtered out all the noise regarding trading and made taking the first step much easier! Structured and with actionable follow-up plan, this course is highly recommended!” – Twain, Ferocity

 

Register Early to Avoid Disappointment!

Reservations for our next intake are open, and you can start reserving your seats before they run out! Find out more: http://wp.me/P1riws-31L

Good luck to all the new “future millionaires”, and see you all at the top! 😀

3 Insanely Profitable Traders You Probably Never Heard Of – What Makes Them Different?

When people think trader, they think rogue trader Nick Leeson. 20 years ago, a single derivatives trader caused Barings bank to collapse, leading to many quickly labelling forex trading as an evil profession.

Here’s a photograph of that historic event when it happened:

1Source: The Guardian

As most people know, proper risk management would prevent failure on such a catastrophic scale. At the same time, it is unfortunate that some of the most famous traders in the world shot to fame as a result of one big trade that normally rocks the headlines. This results in some traders having the mentality that they just need that one big winner to retire comfortably.

Let’s take a look at two famous examples:

GEORGE SOROS – BREAKING THE BANK OF ENGLAND

Soros famously made $1 billion from shorting the British Pound. This was what made his name famous and he was named the man who “broke the Bank of England”,  apparently due to him shifting (or shorting) $10 billion dollars worth of currency.

ANDREW KRIEGER – TRADED BIGGER THAN THE NZD MONEY SUPPLY

Andrew became famous when he shorted the New Zealand Dollar of almost $1 billion in value,  which was more than the money supply in circulation in New Zealand during that year! Andrew ended up garnering $300 million in profits from this single transaction alone for his trading firm.

We know that these two traders had trading accounts that were unbelievably large. This is not the case for almost all of us. Therefore, we need to gain the skills and knowledge that can bring consistent, decent returns on an average trading account size. The key is to look for sustainability, and this is definitely learnable.

“Trading is not about getting a one-hit wonder. It’s a career decision, and requires as much commitment and passion as building a business.”

Below, I’ve picked out three excellent traders who I believe will change the way you think about trading.

How many of you can recognize these faces? 😀2Source: philanthrophyroundtable.org, tastytrade.com


EXPERT TRADER #1: TOM SOSNOFF

1Tom Sosnoff sharing option strategies on his daily financial show with his daughter
Source: Tastytrade

Tom Sosnoff started off as a political science graduate working in the Chicago Options Exchange as a market maker. An industry veteran, he quickly spotted the market opportunity in online option trading, and co-founded and created the famous Thinkorswim trading platform. He later sold it to TDAmeritrade for a handsome sum of more than US$600 million.

A maverick of sorts, he is currently most famous for his financial network TastyTrade, where he shares professional trading strategies relating to derivatives and covers topics that are extremely difficult, such as advanced option greeks, and also the very basic. He exhibits some traits that are very rare and valuable to a trader:

  • Substantial and deep trading expertise.

Sosnoff’s knowledge of his area of specialization is admirable indeed. If you are familiar with options, or consider yourself a veteran in the options arena, you might want to think twice after knowing how much expertise he has garnered.

If one wants to make it in the trading arena, one has to be absolutely familiar with the tools of his trade, and the lingo used by industry practitioners. Forex traders, for example, know the ebb and flow of orders throughout the day, such as the Asian/European/American session, and can detect upcoming volatility even before it strikes. For price action traders, the trader can become so proficient that he knows when to stay out of the market within a few seconds.

  • Sharp business acumen.

A trader is ultimately a shrewd businessman. His trades are merely expressions of his ability to spot opportunities for profit, and he quickly knows if he has made a wrong decision. When he is right, he presses his bets and makes the most out of it. Just as a professional poker player knows the odds of every single set of cards dealt to him, a trader knows the odds of every market situation presented to him.

“If you can play poker well, you can probably trade well. Every trader is a shrewd businessman at heart, placing bets where it matters, with reasonable, sound analysis.”

The trader is also absolutely clear of his strategy. Trading without a strategy is as good as flipping a coin, but with a clear plan for attack and defence, the trader is able to defend his account and successfully build his net worth in the long term.

  • Continuous growth.

In his daily financial shows, Sosnoff quips that he has learnt far more in his years explaining option trading concepts, than he learnt while being a professional trader and market-maker in the days of the exchange floor. His team continuously churns out data and statistics on the probability of different option strategies, ranging from basic ones like naked put selling, to exotic strategies like jade lizards and the like.

“Perhaps the reason why most traders fail is they fail to see themselves as entrepreneurs.”

The ability to continually analyse his strategies and develop his domain knowledge is the key to his continual success. Where many of his peers in the trading floor days have left the industry, unable to keep up with the fast-paced world of online trading, Sosnoff has soared way above and carved a niche for himself.


EXPERT TRADER #2: BRUCE KOVNER

3Bruce Kovner with his wife
Source: The Kovner Foundation

Kovner made his first trade on credit, borrowing money to execute a soybeans futures trade, where he made $23,000 on a borrowed sum of $3,000. He was interviewed in the famous book ‘Market Wizards’, and in 2003 he reportedly ran an $11 billion dollar hedge fund named Caxton Associates. He is a rather low-profile guy and shuns media attention.

“I have no bias toward any of the markets… I am just as happy a trader in a bear market as in a bull market, rates up or down, commodities up or down.”
– Billionaire hedge fund manager, Mr. Bruce Kovner

  • Develop a strategy that you are comfortable with.

Kovner’s hedge fund trades based on global macroeconomic conditions. In the hedge fund world, this is called macro-trading, and is a common way to manage a large portfolio. His unique approach to the markets has earned him 28% per annum over more than 20 years (every single year!). Just as he says in the quote above, he is comfortable trading any kind of market, in any kind of condition.

  • Really understand what causes markets to move.

Fundamentally, institutions and banks move money because of their view on global macroeconomic conditions, and they express this in the form of price action, demonstrating commitment through their buying and selling.

Although most small traders don’t have the luxury to express their view of the economy with hundreds of millions of dollars, it helps for us to understand where the world is heading toward, so that we can ride on the moves of the institutions.

For example, you may have heard of the famous saying “The trend is your friend.” Sure enough, as long as the trend is clear, it shows that institutions are piling into the particular financial product that you are trading. You don’t argue against a trend; you flow with what the majority of market players are doing. The context of the market is far more important than the trading signal; just because you see a bearish candlestick pattern does not mean it’s a wise trade to short the market – you have to see whether the surrounding price action supports your trade idea.


EXPERT TRADER #3: LEWIS J. BORSELLINO

4Borsellino trading in the pits as a young man.
Source: Tastytrade

Lewis Borsellino came out of a troubled past. As a young man, he had to live with the shocking murder of his father and having to deal with emotional blow while working at the Chicago Mercantile Exchange. He started off as a runner before becoming a formidable opponent in the S&P futures pit. At one point, he claims that he traded so large that market participants looked to him as a sign that the market was going to turn. Apparently, his trading volume accounted for as much as 10% of total trading occurring in the futures pit!

  • Get very, very good at what you do.

His confidence on the pit was astounding. He knew what he was doing, and traders around him could feel it. In those days, the expression and emotional state of the trader contributed to the mood around the arena. With electronic trading, this plays a less important role, but the market still expresses itself with price, and the despair and ecstasy of traders can be understood if you examine price very carefully.

He almost exclusively traded the Standard & Poor’s 500 pit during his 19-year career on the trading floor.

“I was very good at what I did.”
– Lewis Borsellino

Many people use multiple indicators, hoping to quickly find a system to get good as a trader. However, what works is to be very good at at most 1 or 2 indicators, or simply trade with no indicators, so that you can gain the most expertise and be familiar with what really matters.

In the proprietary trading world, some traders only use Level 2 quotes, trade ladders, without any charts! There are other traders that make portfolio allocations, while there are some that engage in high-frequency intra-day trading. It does not matter how you get there; once you have selected something, you need to get very good at what you do.

Now that we’ve covered the lives of these three traders, let’s take a closer look at trading as a possible career path.

TRADING AS A CAREER – WHAT DOES IT REALLY TAKE?

Many traders are frustrated with their trading results because they don’t change their behaviour. They make many, many trades, but fail to ask the right people and seek the right guidance, causing them to make the same mistakes over and over again. If you do what you always do, you will get what you always have been getting.

Lewis Borsellino left the trading floor and entered online trading. Initially, he backed a lot of floor traders financially and groomed them to become profitable, but as time went by, he saw the opportunity in backing both floor traders and online traders, and forced himself to re-learn trading with charts.

If you are still unprofitable in the trading arena, what are you willing to do to make things work out for you? Change your actions, and you will see change in your results!

Anthony Robbins says this really well:

3Source: Goalcast

Perhaps you are someone considering trading as a possible side income, or even as a career. It takes dedication (time!), expertise, patience, as well as some street smarts in order to become a professional trader.

“If you are considering making a career switch to trading, what are you willing to do to make it happen?”

 

RESEARCH SOURCES & REFERENCES

https://www.theguardian.com/business/from-the-archive-blog/2015/feb/24/nick-leeson-barings-bank-1995-20-archive
http://www.forbes.com/lists/2006/10/6OQE.html
http://archive.fortune.com/magazines/fortune/fortune_archive/2003/09/29/349918/index.htm
http://www.derivativesstrategy.com/magazine/archive/2000/0300qa.asp
http://www.investopedia.com/articles/forex/100515/these-are-most-famous-forex-traders-ever.asp