Managing Star Traders (the top 1%)
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Thread: Managing Star Traders (the top 1%)

  1. #1
    I'd love to go over star traders. I've retired from active trading but sometimes run into a celebrity trader, among those people who seems one with all the market, who will generate 3-10% every single day, virtually regardless of market requirements.

    I'd love to get some comments on handling the gift so that the most cash can be made. What's the best method to set up accounts, how to maintain these pip machines functioning with an eye towards the bigger goal of maximum money increase, and all associated problems.

  2. #2
    I'm sorry, but I do not understand your post. Could you elaborate? Thanks.

  3. #3
    Why would these people need managing? and why by you?

    max

  4. #4
    I think I understand your query.

    Using your celebrity trader for signal production and yet another person/team for position sizing is your best egy.

    Retail traders frequently get burnt because they are responsible for discovering entries/exists and alloing the funds for your trade. This dual function causes'pain' sensitivity particularly when positions are temporarily moving the wrong way.

    Separating these roles so that your star trader picks the positions while a cash manager calls the position dimensions overcomes this difficulty....

    One last note... it is important that the trader not understand the position dimensions at all and is retained 100% isolated by the feelings of the cash managers.

  5. #5

  6. #6
    Quote Originally Posted by ;
    Separating these functions in order for your star trader chooses the positions while a cash manager calls the position sizes overcomes this problem....
    If a star trader can not deal with the downside of the decisions then they are not really a star trader.

  7. #7
    Quote Originally Posted by ;
    I'd love to go over managing superstar traders. I have retired from active trading but sometimes run into a star trader, one of those men and women who appears one together with the market, who can generate 3-10percent each and every single day, virtually regardless of market requirements.

    I'd love to get some feedback on managing the gift so the most cash can be made. What's the best way to set up accounts, how to maintain these pip machines functioning with an eye towards the larger goal of maximum money improve, and all associated issues.
    Being in the 1 percent egory I am qualified to reply for this post. Please excuse me for not being more humble yet when your documents justify calling yourself a winning trader, so be it.

    Any FX trader like myself that generates returns of 20% plus per month can only do so when he's all the tools.

    For a matter of shared info here is everything you want to enter the 1 percent egory.

    (1) Maturity (No Fear! No Greed ! Healthful Ego!)

    (2) Excellent Fundamental Knowledge (Economic and Geopolitical)

    (3) Good Technical Knowledge(Making very good entry and knowing where to depart )

    (4) Trade With The Trend (Know what the Trend Is and the time frame)

    (5) Use Proper Money Management (Trade no more than 20 percent of Capital)

    (6) The Market is ALWAYS right short term so understand that.

    (7) Don't Over Trade (Possessing a Trade Plan)

    (8) Plan the Trade and Trade the Plan

    (9) Keep learning, studying and investing the time and make your own choices as it is your cash or others if you exchange under a LPOA

    Have a Good Sunday and all feedback is welcome!


    Bruce

  8. #8
    Quote Originally Posted by ;
    Being at the 1 percent egory I am qualified to answer to this post. Please excuse me for not being more humble yet when your documents warrant calling a winning trader, so be it.

    Any FX trader like myself that generates returns of 20% plus a month can only do this if he's all the tools.

    As a matter of shared information here is everything you want to get into the 1 percent egory.

    (1) Maturity (No Panic! No Greed ! Healthful Ego!)

    (two ) Excellent Fundamental Knowledge (Economic and Geopolitical)

    (3) Good Technical Knowledge(Making very good entry and understanding where to exit)

    (4) Trade With The Trend (Know exactly what the Trend Is and also the time frame)

    (5) Use Proper Money Management (Trade no more than 20% of Capital)

    (6) The Market is ALWAYS right short term so realize.

    (7) Don't Over Trade (Have a Trade Plan)

    (8) Plan the Trade and Trade the Plan

    (9) Keep studying, reading and investing time and make your own decisions as it is your money or others if you exchange under a LPOA

    Have a Great Sunday and all feedback is welcome!


    Bruce
    Great post Bruce, I really don't know whether I am in the 1 percent like you, but I have been increasing my account by 5% to 10% per trading day for about 2 years now.

    The only thing I could add to Bruce's great post is to say how important that rule #1 is, in particular not being greedy. . .that was my huge problem, and I did not come to be a consistent trader before I got a deal on it.

    Cheers

    Mike

  9. #9
    Treva, Thank You. Splitting the position sizing purpose and also the trading produces a lot of sense. I also see that complete isolation from the money manager is very important, too, so the emotional concerns do not throw off their focus.

    Now if I could just get the celebrity trader to slow down enough to communie the transactions to me pips won are missing...

    If it were only possible to automate the trader's signal production directly to the place sizing manager's live trading platform... does any broker allow for this?

  10. #10
    I spend many years looking for great mentor to trade the forex. And mentor to trading euro/usd. I find excellent mentor. Teachings I understand are risk managments and price action. These are extremely great for me. Very great for all trader to understand, best is risk managment. Not all trades will acquire it canot be done. With great risk managments I loose less money on poor trading and earn more money on great tradings. I say celebrity trader are trader with great risk procedures. Find decent celebrity trader mentor and you'll be happy like me!

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