tag:blogger.com,1999:blog-44809034476314372722024-03-08T16:33:59.189-08:00Trader Hall of FameThis Blog highlights the top professional day traders.HPThttp://www.blogger.com/profile/12837046386348740840noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4480903447631437272.post-90927870949907918012007-10-29T10:45:00.000-07:002008-11-13T01:46:31.928-08:00Trader #1 M.A. Perry (NihabaAshi)<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://4.bp.blogspot.com/_cHYeTpsQJ7g/RzXzEc0n8FI/AAAAAAAABEE/2daFIS-WNhA/s1600-h/trophy.jpg"></a>A new feature of this Blog that I will be writing about often will be to highlight "TOP TRADERS" I've discovered and to tell a little about these traders and how they are successful.<br /><br />The First TOP PROFESSIONAL TRADER going down in the books is- <span class="vb"><br /><br />M.A. Perry; </span><span class="vb">(a.k.a. NihabaAshi) at forums like <a href="http://elitetrader.com/">EliteTrader.com</a> and <a href="http://traderslaboratory.com/">TradersLaboratory.com</a><br /><br />Perry is a Fulltime <span style="FONT-WEIGHT: bold">FUTURES TRADER</span>.<br /><br /></span><span class="vb">Academic Background: Microbiology, Immunology and a med-school drop-out in the 80's to become a full-time trader...He says he's "never regretted the decision."</span><br /><span class="vb"><br />Location- </span>Provinde du Quebec, where he speaks English and French.<br /><br />Trading Experience- Fulltime tader for ~20 years, with 30 years of studying the markets.<br /><br /><b>Perry's Trade Methodology-</b><br /><br />I'm a price action only trader (no indicators) via rule based methodology involving day trading, swing trading and position trading.<br /><br />Just as important, the foundation of my strategies are via volatility analysis, market seasonal tendencies (cycles), intraday market tendencies, intermarket analysis, support/resistance analysis and the psychological aspects of trading.<br /><br /><a href="http://www.thestrategylab.com/WRBAnalysis.htm" target="_blank">http://www.thestrategylab.com/WRBAnalysis.htm</a><br /><br /><span style="FONT-WEIGHT: bold">Risk Management-<br /><br /></span><span class="vb">He uses an emergency fixed hard stop and a variable mental stop that doesn't exceed a particular number that's much less than the hard stop.</span><span class="vb"> Average position size is around 3 contracts, but this can change depending on market volatility.</span><br /><br /><b>Trading Instruments</b><br /><br />He can trade profitably almost any futures trading instrument, exchange traded fund or forex currency, however, he currently mainly trades the Russell 2000 Emini ER2 futures contract while keeping a close eye on other key market trading instruments.<br /><br />His favorite trading instruments are the Eurex DAX and EuroFX EC but he's unable to trade those due to family restrictions.<br /><br /><b>Best Kepted Secrets</b><br /><br />* He prints out every trading day key trade signals and studies them over the weekend.<br /><br />* He does live-recordings of his trading day via Camtasia Studio software.<br /><br /><a href="http://www.techsmith.com/" target="_blank">http://www.techsmith.com/</a><br /><br />* He has a trading plan for every one of his trade signals from entry to exit.<br /><br />* He listens to music while trading.<br /><br /><a href="http://www.thestrategylab.com/iTunesiPodsFavorites.htm" target="_blank">http://www.thestrategylab.com/iTunesiPodsFavorites.htm</a><br /><br />* FOMC Announcement trading days and the price action on other trading days in reaction to FOMC announcements are his most profitable trading days.<br /><p align="left"><strong style="FONT-WEIGHT: 400"><span style="font-family:Georgia;"><span lang="en-us"><a href="http://www.thestrategylab.com/NihabaAshi.htm">NihabaAshi</a> (M.A. Perry) </span><span lang="en-ca">started </span><span lang="en-us">posting his realtime trades in #FuturesTrades beginning </span><span lang="en-ca">the month of November 2002 when </span><span lang="en-us">other traders started complaining that there are no quality online realtime trade posting room that has good traders and educational support info...</span></span></strong></p><p align="left"><strong style="FONT-WEIGHT: 400"><span style="font-family:Georgia;"><span lang="en-us"><span style="FONT-WEIGHT: bold">I asked Perry how he became so consistent as a Futures trader and this was is reply</span>-</span></span></strong></p><p align="left"><span class="vb">I'm starting to think my consistency each week or each month has more to do with my market experience in comparison to the methods I use.<br /><br />Also, I approach trading differently than most traders and my approach makes most traders very uncomfortable.<br /><br />For example, I'm primary a day trader but between 0930am - 4:15pm est I'm away from the computer (intentionally) about 1 1/2 hours during the trading day.<br /><br />I do this to regain my perspective regardless if my performance for the day was good or bad.<br /><br />I also have another 45 mins on average each day of family distractions as a retail at home trader.<br /><br />Maybe I shouldn't use the word distractions but it does take me away from trading.<br /><br />What I'm trying to explain is that the psychological aspects of trading is critical to my trading and profits.<br /><br />I use it to <b>manipulate</b> my approach from one trade to the next trade.<br /><br />For example, as soon as I reach my profit goals for the day, I go into what I call <i>profit protection mode</i> in which I dramatically reduce my position size down to 1 -2 contracts for the remainder of the trading day.<br /><br />This doesn't allow me to milk the cow sort'uv speak and that doesn't sit well with most traders because most think when things are going well...<br /><br />That's the time to keep up the pace.<br /><br />My view is that when things are going well...we need to slow down the pace and position size management allows me to control my trading pace along with the time-outs during the trading day.<br /><br />This is one of the main reason why my performance is not just consistent...<br /><br />There seems to be a controlled pace to my profits.<br /><br />In addition, I'm very aggressive during high volatility trading conditions while most traders stay on the sidelines or freeze in losing positions.<br /><br />In contrast, I tend to stay on the sidelines or freeze in losing positions (let me stop get hit) during low volatility trading conditions.<br /><br />Another thing, understanding the markets is much more important than my pattern signals.<br /><br />I need to know the reasons (why) the price action is doing something interesting.<br /><br />In contrast, most traders concentrate on their pattern signals and could care less why the market is doing what it is doing if the reasons has nothing to do with technical analysis.<br /><br />That understanding of the price action can be taught up to a basic level and from that point on...<br /><br />It's market experience, extensive screen time and trader psychology (how we interact with the markets) that can't be taught...<br /><br />It's learned.<br /><br />Also, I studied the markets (futures) for many years prior to me very first trade.<br /><br />In contrast, most traders are placing their first trade after opening a trading account or after completing reading a trading book. My approach to trading itself (not my pattern signals) is different than most traders.<br /><br />It's the main reason behind my consistency.<br /><br />Thus, I'm very serious about trading but just in a different way but in a way that any other trader can do if the trader wants to.<br /><br /><i>No holy grail, no re-invention of the wheel...just in control of my interactions with the markets.</i><br /><br />Something else, the chat room or forum I have is not setup so others can watch me trade.<br /><br />I use the chat room as my personal diary of my trading thoughts from trade to trade.<br /><br />Just as important, I use the trades and commentary by others using the room as if I have <b>more eyes on the market</b>.<br /><br />The website and it resouces gives me that interaction with others to help my understanding of the price action because I can't possibly see everything on my own in realtime during stressful trading conditions.</span></p><p align="left">To learn more about Perry, check out <a href="http://www.thestrategylab.com/">The Strategy Lab</a> and for information on his trading results check out his <a href="http://www.thestrategylab.com/RecentTrades.htm">Trade History</a>.<br /></p><p align="left">(Please note, High Probability Trading has <span class="vb">no affiliations with M.A. Perry)</span></p><p align="left"><span class="vb">(If you think you have what it takes to be in the Trader Hall of Fame email me)<br /></span></p>HPThttp://www.blogger.com/profile/12837046386348740840noreply@blogger.com6