Capturing the Money Flow: An Easy and Simple Plan
|Event Date/Time: Aug 19, 2010||End Date/Time: Aug 19, 2010|
â€œI'll present ideas about how to make critical trading decisions and when to take protective action,â€ Storer says. Much of what he'll discuss is found in his new book, Chalk Talks for Traders â€“ Easy Xs and Os from a Proven Market Pro, on shelves this spring.
Storer says â€œmany of you remember too well the agony of watching your portfolios evaporate in 2008. Before that, you may have felt comfortable being in mutual funds or pooled money, only to see them drop in value with the market. You felt pain as your 401 k plans and IRAs shrank by 30% to 50% in a matter of months.â€
â€œDon't you wish you could have seen all that coming?â€ Storer asks. With the right tools you could have, and he actually did in 2008.
In his â€œCapturing the Money Flowâ€ webinar, Storer will outline simple strategies to get investors headed in the right direction. He'll explain how to establish and trade a plan, using methods for reading momentum. And he'll discuss how to find affordable entry points; place protective stops; adjust stops to reduce risk as the trade progresses; time entrances and exits; and set realistic targets that satisfy risk/reward ratios.
The session will include tips for developing good trading habits and sticking with them. Even long-time pros can forget this important tip.
Storer says itâ€™s easy to become complacent in a trending market. â€œIn 2008, I was comfortable with the market until I woke up in the middle of one night in May,â€ he says. He knew how the current market looked on a chart and remembered the way it appeared in the 2000 and 1987 crashes.
Storer realized that spring night in 2008 that he had ignored reliable indicators. He headed to his office at 4:30 in the morning to study the patterns of previous years and compare them to the present. â€œIt looked like the rally would last less than two weeks, and then the market would cave,â€ he says. â€œMy own positions were easy to close, and I got out that morning.â€
That day he called all of his associates and told them his prediction. But no one seemed concerned. â€œDuring the next two weeks, I repeatedly phoned my associates, urging them to close out their positions, before it was too late. Only a few of them did.â€ Most of us accept the status quo, he said, and donâ€™t really want to cope with change, with the result that we're unprepared for danger.
Storer is Director of Trading for the commodity division of Dillon Gage Inc., a full-service brokerage firm based in Dallas. He has traded stocks for many years, but because he grew up on a dairy farm has a special love for commodities. As a teacher and college coach early in his career, Storer developed his communication skills. Traders appreciate his thorough but easy-to-understand presentations. Storer pays attention to market fundamentals but bases his decisions about entering and exiting trades on technical indicators. His methods have been repeatedly tested in an every-day, working environment.
The webinar is free but registration is required. To register for Storer's free webinar, â€œCapturing the Money Flow: An Easy and Simple Planâ€ go to www.chalktalksfortraders.com or click here.