Better System Trader

On the show today we have Brent Penfold, a full time trader, author, educator and licensed Futures Advisor.

He began his trading career in 1983 as an institutional dealer with Bank America and today specializes in trading global currencies and index futures, actively trading 24 markets around the world.

He is a popular and sought after international speaker who has presented to traders throughout the Asia Pacific region including Australia, New Zealand, Malaysia, Singapore, Hong Kong, Vietnam, Thailand, India and China.

He has published a number of trading books, with his latest book being translated into 6 different languages.

Topics discussed

• How to trades 24 markets actively and be finished by 9:30am
• The simple reason why most traders fail
• The principles all traders need to accept to be successful
• The one mathematical measure that can tell if you’ll blow up your account – don’t miss this!
• The Holy Grail
• The most important aspect of trading
• How to remove hope from your trading
• How to combat greed
• The impact fear can have on your trading and a hot tip to overcome it
• A simple method to determine if your strategy is broken, this tip could save you loads of money!

Resources

• To learn more about Brent and his work, checkout his website at indextrader.com.au
• Recommended Books:

Quotes

Top 5 tips from the chat

1. Our objective should be to manage our risk capital, not to be right in the markets
2. The most important thing is preserving your capital
3. You absolutely must know your risk of ruin figure and it must be 0%
4. How equity momentum can save you from a broken strategy
5. How to overcome fear by tackling it head-on

FREE RISK OF RUIN SIMULATOR

Brent has kindly provided a risk of ruin simulator for download, you can get it here

Transcript

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Episode Released:

19 April 2015