Full show notes: http://chatwithtraders.com/ep-006-tim-walker/ – – Coming in on episode number six is a trader who I have a great amount of respect for – Tim Walker. I say this because, it wasn’t the first time I met Tim…
A couple years back, I had the opportunity of attending an intimate 3 day workshop he tutored. Over these few days, Tim was an open book of trading knowledge and it was clear he knows how to extract a serious profit from the market. With that in mind, I knew I had to have him on the show to share some of those insights with you.
In today’s episode Tim consistently deliverers great pointers, especially for those who are technically inclined. He also goes into detail about the influence Gann’s methods have on his own approach to trading. In particular Gann’s ‘50% rule’ which continues to hold weight in today’s market – study and backtest this one, see for yourself.
Now there’s a lot to takeaway from this interview, hence the length and the extensive list of lessons below. It may even be a good idea to play it through twice – enjoy!
Lessons Learnt in this Interview:
– The importance of looking at the bigger picture, and trading with the overall trend.
– How the effect of positive thinking can rub off on your trading – creating your own luck.
– How Tim got a handle on learning to trade, breaking it down one week at a time. And the power of repetition.
– Tim shares his (logical) views on fundamentals and news releases, and how the majority are often fooled. Also touching on the impact of emotional trading by the herd.
– A breakdown of the steps and process that defines trading. He almost makes it sound simple…
– The 50% rule of W D Gann, and how this often calls a change in trend.
– The reason why double and tripple bottoms/tops occur, and why they are often a great pattern to trade.
– Why it is so important to document your trades. Tim shares how one of his subscribers was able to dramatically increase his profitability by doing this one thing alone.
– And much, much more…