Sunday, October 14, 2012

Synapse Trading - Spencer Li

Synapse Trading - Spencer Li   S$2,600
2-day workshop conducting every quarterly free re-sit
Monthly support group
Access to private forum

Spencer obtained his B.BM and B.Acc double degrees (cum laude) from Singapore Management University, and also holds the Certificate of Technical Analysis. He is a full time trader with over 7 years of experience, having traded options, stocks, CFDs, forex and futures. He has been featured in major publications such as the Business Times, and is frequently invited to speak at private events.
Spencer is the founder and head trainer of Synapse Trading, credited with formulating the trader's blueprint to train new traders. He specializes in price action and psychology.

Trading in a Nutshell  -  USD  (Understanding - Strategizing - Doing)
Beginner Trap - Why trader fail?
  - Lack of solid foundation
  - Trying to reinvent the wheel
  - Knowledge without skill
What to Avoid - Red Flag
  - High guarantee return
  - Selling a magic pill, instant results
  - Holy grail, blackbox system
  - Trainers are not really traders
Seeing the big picture: Do you know what is happening?
  - Why do prices move? How do prices move? Filtering the noise
  - How does everything tie together? FX, Stock indices, Treasuries, Commodities intermarket analysis
  - What strategies are best for current market?
Snapshot Decisions:  Net Positive Outcome (NPO) - Probability x risk/reward > 0
  - Decide within seconds whether a trade is worth taking
  - Risk vs Reward
  - Analysis Paralysis vs Gambling
Behavirous Analysis
  - Based on human behaviour
  - Build a mental sccenario as price unfolds
  - Clues using charts as universal language
  - Evolution of Price Action

Strategizing - 7 setup
  1.  Trend Play
     - Catching the BIG MOVES
     - Occurs 20% of the time
     - Good risk/reward ratio
     - Best for beginner, hands free
     - Catching market cycles (EMA 200-day)
  2.  Breakout Play
    - Pent up energy (support and resistance)
    - Price has to being press down and consolidated
    -  High risk/reward
  3.  Momentum Play (Explosive)
    -  Fast in, fast out as price can u-turn very fast
    -  Buy high sell higher, Sell low buy lower
  4.  Reversal Play
    - Picking tops and bottoms
    - Avoid falling knife
    - Catching start of new trend
    - Potentially a big swing
  5. Range Play  (Yo-Yo)
    - Flat, non trending market
    - Occurs 80% of the time
    - No clear levels
    -  Buy Low, Sell High
    -  Most breakout fail, look for turning pont via chart pattern
   6.  Fade Play   (Frame snap back)
    -  Prices have gone too far and too fast
    -  Extreme overbought and oversold
    -  Counter-trend
    -  Only for experience trader but new beginner likes to trade this and most suffer losses
   7.  Reversal Psychology Play
    -  Counter trend setup
    -  Indicator herd, eg MACD historgram crosses zero line

Discover your niche (Success has various forms):
 - Your favourite plays
 - Ideal time frame, product and style
 - Personality profiling

Doing -Brain Efficiency
- Train your mind to work with you
- What is your circle of control
- How do you tap on your strengths and weaknesses
- Mental training exercises to train the mind
- Keep a trading journal

Key trader attributes
- Focus your time and energy
- What are my weak points
- What do I need to improve

Avoid: Ticking time bomb
- Excellent chart reading skills with consistant profit but LARGE DRAW DOWN
- REFUSAL to cut loss, DOUDBBLING Draw Down
- Revenge trading

Avoid: Compulsive Gamble Trading
- Good at finding setup but TOO MANY setups
- Profit on some good trades but too many losses
- Trading sub-optimal setup just for action
- Miss out other best setups as already lockup in other sub-optimal setup
- Trade larger size when draw down


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