Joined in 2023 
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63 About this deal
As well he is also scalping in the quiet moments of the channel and also taking other trades not published.. personally don't know how he does it all... Very very driven man.. very rare IMO. I dare say that if technical analysis as a subject was comparable to something like dentistry, the vocation would be terminated on account of the 80% failure rate. You don’t have a 80% failure rate amongst dentists. THE MILLION VIEWS YOUTUBE TALK Like other great stage speakers, Tom loves to deliver concepts, analogies, and jokes. You can always tell that he really is into the moment. He genuinely enjoys it. It’s not there because he has agreed to deliver a talk. He is there because he is having a blast. And let me immediately make an important declaration: I am not going to sugar-coat my message. It is an insanely difficult profession, one that is beyond the apparent mental abilities of almost everybody, yet at the same time a profession that will reward you with wealth beyond your imagination, once you understand how this game really should be played. It was a guy who once attended a few speeches I gave on technical analysis, while I was working as a trader at City Index in London. Now he appeared in an advert, promising to reveal the secrets to the financial markets through his courses.
They perpetuate the illusion that trading is an easy endeavour. I think it is fair to say that with a failure rate around 80%, there is absolutely nothing easy about trading. Sounds familiar? Of course it does. The market has not singled you out, this is a coping mechanism to rationalize the pain of being wrong and paying for it. Tom Hougaard says, “People don’t fail because they don’t know enough about technical analysis. They fail because they don’t understand what the markets are doing to their minds.” Best Loser Wins is an antidote to conventional and flawed thinking in trading, and a blueprint for a new belief system for traders who want to elevate their results to levels they never dreamed they could reach. I wrote this book to describe how I transformed myself into the trader I am today, and how I was able to bridge the gap between what I knew I was capable of, and what I actually achieved. INTRODUCTION I have written a book that is an antidote to all the rubbish that is being peddled in the trading arena by charlatans who are 99% marketing and 1% trading. They preach their message to unsuspecting people – who sadly believe them – with neither the teacher nor the student realising that they only got 10% of the story.Hougaard's emphasis on self-analysis and the creation of a "Book of Truths" is a brilliant way to enhance self-awareness. By identifying strengths and weaknesses, traders can improve their strategies and decision-making.
I am going to tell you something that no one else in the world knows. It will be just for you Michael. That is why I wrote this book – to describe the path I have taken to get where I am today. Over the last 20 years I have read many books on technical analysis and trading techniques. I personally find most of them boring and pointless. What 99% of traders do not realise is that they are looking for answers in the wrong places. Knowledge of technicals, fundamentals, indicators, ratios, patterns and trend lines… well, everyone knows about them – and everyone loses, except the 1%. And every evening I plot my trades on the completed chart, and I look at it, and I think...."how did I do that.....I don't even remember doing it...." Tom argues that normal, well-adjusted rational people don’t work well as traders because they are hopeful when they should be fearful, and fearful when they should be hopeful. Adding to losers, letting them run, and cutting winners. In all of his published content Tom teaches how to, essentially, turn the trading game upside down.One client asked me what I thought of Marconi. Marconi was a member of the FTSE 100. It had seen better days. It had declined from 1,200 pence to 450 pence over the preceding 12 months.
I work so hard and so long hours to understand what is going on in the markets. I study the charts to understand the decisions made by the players. But when all is said and done, once the bell rings, , I turn my brain off, , I think I turn it off, and I feel my way. I just look at the market and let it talk to me. Some days, like today, I don't accept what I am hearing because I have a one sided argument, so my gains are limited. To have a one sided ear is not always bad. Yesterday all I heard was " the ship is sinking...go short"... Although I trade full time, I really don’t think I could add anything new to the world of charting. Charting didn’t make me money. Indicators never made me money. Ratios and bands never filled my bank account." I have said to myself many times, that the pain of missing out on a big winner that I exited in fear of losing a small paper gain, or a big winner that I was too fearful to enter in the first place, is greater than the pain from losing a small paper gain, or my original risk, that would result from being stopped out. While, I’ve said this to myself many times I have not adhered to it while in a trade. I need to work on being able to fight my own mind when these fears arise. My technical skills are good enough to succeed, my mental game is not! My answer is ...close your eyes, in a quiet place, see the setup, imagine you take it, and imagine the worst outcome possible. Imagine you lose, over and over, expect to lose, be a hopeless pessimist, laugh at the market when it goes your way because you know it is just a question of time before the market turns against you... confront your physical body with the mental anguish of losing trade after trade until you at will can close your eyes and imagine you trade, and the market moves against you, and the body releases hormones associated with loss aversion. I am not immune to those hormones. They affect me, but not like they used to. My main beef with the many gurus teaching outrageously expensive weekend courses is their outcome focus. They are driving their agenda by the use of external stimuli, such as portraying themselves in a helicopter or on a private jet, and they portray trading as an easy profession to master, or one where there is a secret to be learned, and once in possession of this coveted secret you become your own ATM. Rarely if EVER will these gurus risk their reputation by disclosing their trades in real time. It is always after the fact. We never hear about their losing trades. This gives the illusion that losing is a mere inconvenience you experience from time to time when trading.It is because of how my mind works that I am able to trade in the way that I do. My knowledge of technical analysis is average at best. My knowledge of myself is what sets me apart. When I call out trades in my live TraderTom Telegram group, I will always announce a stop-loss. Always! However, I often get asked if I have a target in mind. The answer is quite often a little sarcastic: 'No, my crystal ball is out for repairs,' or if I am particularly grumpy and tired, I will be rude and say, 'Sorry amigo, but do I look like a fortune teller to you?'" If, however, you want lasting change – not only in your trading, but in how you live your life – then stay with me. Your transformation into a consistent trader will permeate other parts of your life. It will give you a deep understanding of who you are and what you can do to better yourself. The end result is not just more money on your trading account, but a more harmonious and exciting life journey. LIAR’S POKER I was hooked, and I knew trading would be my vocation. I have since read many other trading books that are perhaps more specific about trading than Liar’s Poker, but as a starter book, I could not have asked for anything better.
I don’t agree with that. There are many people who can and who also do. One is not exclusive of the other. Many great do’ers see it as part of their life mission to pass on knowledge to those around them. When I worked at City Index, I might not have been an oracle of technical analysis, but I certainly knew more than most of our clients. For that reason I gave technical analysis lessons most evenings to our clients and the many white label clients that City Index had, such as Barclays Bank, Hargreaves Lansdown and TD Waterhouse.Tom in this book is very adamant, almost blunt, about one thing: 90% of the traders lose money. And he’s right. That is where the winner’s money comes from. The book is not a self-help program. It is not a new-age/ask-and-you-will-be-given thing. And it is not intended to solve any of the technical problems that may affect you and your operativity. Correctly understanding how your strategy of choice works, that is your responsibility. Training is important, and the will to act on the training is obviously paramount. However, our minds are not naturally gravitating towards taking risk. So, if you want to be a risktaker in life, you need to introduce risk into your life slowly and gradually.” So anyways heres a couple of charts of WTI oil..4hr with measured moves marked up....(Tom uses this method for simply entering swing trades again with other conditions) The whole point of the book is to provide you with the tools required to behave inhumanely. It is a training regimen to correctly perform the most uncomfortable tasks that are necessary to succeed. Things like:
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