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May, 2018 5:41 AM



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Mastering the art of trading

Mastering the art of trading

By Staff journo 04.12.2017


It’s often said that it takes around 10,000 hours of training to become a master at anything – whether that’s learning to play the guitar, learning to paint, or learning the art of trading the markets. The problem, therefore, with learning anything new is not so much the difficulty of the task at hand, but the difficulty of finding the time.

In recognition of the need for traders to be educated "on the run", so to speak, CMC Markets has evolved its Masterclass event, historically held in Sydney and Melbourne into a series of podcasts that can be downloaded on iTunes and Android. Traders can tune in while commuting to work, waiting for the bus, or doing something menial at home like washing the dishes. In short, traders can accumulate learning hours while going about their everyday life.

“It will appeal to a broad audience from high frequency traders to everyday investors to those who’ve never traded a share in their life,” notes Michael McCarthy, CMC Markets Chief Market Strategist, who hosts the series. Called The Artful Trader, the podcast kicks off with a series of eight podcasts discussing everything from turning losses into wins - to crafting your own bespoke trading style. Experts are sourced from across the investing spectrum and include such well-known names as futures expert Jack Schwager, former hedge fund manager Raoul Paul, professional trader Ray Barros, commodities trader Linda Raschke, and ASX equity derivatives expert Graham O’Brien.

The merits of auditory learning are many and varied, not just limited to the fact that you can learn while engaged in other day-to-day activities. In fact, some people, called “auditory learners”, actually retain information more effectively when they hear it as opposed to reading text or looking at graphs on a page. Other times, auditory learning can be used to complement reading/writing learning, or kinaesthetic learning, which means “learning by doing”, which would involve actually taking out an account with an online broker and practicing (perhaps starting with a simulated account with ‘pretend dollars’ before building up to trading small amounts of real money on the market).

Ray Barros, a renowned trader, and one of eight experts interviewed in the podcasts, says: “I have learnt a great deal from other influential traders throughout my career.” Indeed, listening to a podcast is not too far removed from having an experienced trader sit down with you. For example, the series includes insights from psychologist Dr Brett Steenbarger who counsels traders and hedge fund portfolio managers in the US, Europe and Asia, as well as business journalist Ticky Fullerton – discussing market reaction to the 24-hour media cycle; while economist Raoul Pal reveals insights from the world’s top traders plus tips on the next big opportunities.

The first seven episodes of The Artful Trader are available for download now on TheArtfulTraderPodcast.com.

 





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