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					  Professional Trader, Coach & Author Reveals,
  For The First Time, The Secrets He Uses To
    Extract Massive Profits From The Market!




From The Desk Of: David Jenyns
Date: 5:37pm, Saturday

Why Was This Interview Never Got Published?

A long time ago I had an author contact me with a great book idea. He wanted to
interview some of today’s top traders and create a modern day “Market Wizards.”
I thought the idea had some merit, and he seemed to know what he was doing,
so I was only too happy to help.

Anyway, I went ahead and prepared my answers (included in this PDF).
Unfortunately, after talking with the author multiple times, things didn’t go as
planned and the whole idea was canned.

These questions have now been gathering dust on my hard drive for quite some
time. I was just doing some “spring cleaning” and I found them… After reading
over them, and realizing they contained some great trading tips, I knew
they were too good to waste. I hope you enjoy them.

Best regards,




David Jenyns
Professional Trader, Author & Coach!
Click Here To Read More About Me Here

Ps. If you enjoy this interview all I ask is that you please share it with others.




                Click Here To Discover The Biggest Trading Secret Of All Time www.trading-secrets-revealed.com
Interview questions:

   1. What would be your answer to the challenging question below?

             ~~~~~~~~~~

             Hey [Day Trader Guru Name],

             You suddenly find yourself on a depressing losing streak, and the
             market has not been favoring your position for the past few weeks.

             You can not take in too many losing trades anymore, your
             confidence is at an ALL time low ... AND to top it all off, your margin
             line is almost maxed to the limit.

             You are left with nothing else but your EXPERIENCE of the market
             and vast KNOWLEDGE of how to make money from Day Trading.

             Now, what would be your 17 SUREFIRE, [Killer] techniques you
             can easily use and instantly apply to start making money so that
             you can redeem your pride as a day trading 'guru'?

             ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

      Strategy #1 – Read Your Free Copy of Ultimate Trading Systems

      First things first… Make sure to read my Ultimate Trading Systems Course
      If you have not downloaded your copy you can grab a copy by visiting:

      http://www.ultimate-trading-systems.com/greatnews.htm



      Strategy #2 - Take a Break

      The next strategy to follow is to complete break from trading for at least
      one week. This downtime is needed for your mind to relax. Becoming
      comfortable will put you in a supplementary, positive frame of mind. Do
      nothing until you are tranquil and optimistic. I take long walks in the park,
      breathe deeply and focus on the simple things to cleanse my mind. By
      doing this I obtain my goal and I think clearly when I come back to my
      trading room. You can not trade effectively if you are under stress.




               Click Here To Discover The Biggest Trading Secret Of All Time www.trading-secrets-revealed.com
Strategy #3 – Get the Right Mindset

The most important technique is to relax or meditate on something to
create the right mindset! This is extremely important! The best tools and
strategies can be at your disposal, but if you have a poor outlook, those
tools and strategies will work. If you want to succeed, you have to pull
out all the stops and use all that you have. Your mind is the greatest
asset you possess.

I can take heart knowing that once before I started from 'scratch', with
absolutely nothing, and managed to achieve success, so what is different
now? I have gained knowledge and skills from hands on experience and
my journey back to success is much faster and easier! I believe in the
power of thought.

Whatsoever a man thinkth, so shall he be.

So instead of thinking of myself as a 'broke and failed day trading guru', I
think I of myself as a “successful day trader, who will become the world's
best trader at my chosen style of trading"

Strategy #4 – Evaluate the Past

I evaluate what I did wrong. The first question I ask myself is… “Have I
been following my trading plan?” Usually failure in the market is due to not
following your system. From this analysis, I realize I learned valuable
lessons which help me to create a much greater success in the future. I
now know what to avoid and what I need to develop.

Strategy #5 – Define My Portfolio Objectives

Before I begin trading, I outline my objectives. These objectives have the
largest impact on my style of trading when I resume. To find my objectives,
I ask myself the following questions:

-- Am I designing a trading system for cash flow or capital growth?
-- Do I want to trade part time or full time?
-- How much money can I work with?
-- What annual rate of return do I want?

I define my trading objectives. Failure to do so never makes for big profits.

Strategy #6 - Select One Market to Trade

Next, I choose one market to trade. I avoid the tendency to trade
everything and realize that there are enough potential profits by trading



        Click Here To Discover The Biggest Trading Secret Of All Time www.trading-secrets-revealed.com
just one market. Many traders fall into the trap thinking the more they
trade, the more money they will make. Unfortunately, this could not be
further from the truth.

Real money is made by mastering your chosen market.

Strategy #7 - Design a Trading Plan

Next, make a trading plan! A well-thought-out trading plan defines your
approach to trading. A properly constructed trading system leaves no
room for human judgment. It defines your actions in any given
circumstance that arises. It is a distinct set of rules which instructs the
trader what is done.

The importance of this kind of trading plan can not be understated.
Without a consistent set of guiding principles to govern your trading
decisions most traders hop from one trade to the next, impelled by
emotion or hysteria. I believe when you don’t have a plan, you plan to fail.

Strategy #8 – Keep it Simple

Many traders complicate their trading systems with out even trying. This
is usually accomplished through optimization. They add too many
indicators and make their system nearly impossible to trade. Instead I
keep my system as simple as possible. This way, it is robust enough to
trade across many market conditions.

Through my testing, I have found that ‘yes’ over optimizing, a system
makes it perform better on historical data. Unfortunately this system
usually trades worse in real time.

Strategy #9 - Document Your Trading System

All successful traders that I come in contact with, document their system;
they have their exact trading methodology written down.

The traders, who lose money, don’t have their trading methodology written
down. It does not make sense to do what the masses are not doing?

My first step is to clearly write out my methodology.

Why is it so important? When you sit down and spell out how you perceive
the market, you are accepting the fact that you might be wrong. You are
beginning to accept responsibility.
Strategy #10 – Back Test My System



        Click Here To Discover The Biggest Trading Secret Of All Time www.trading-secrets-revealed.com
This next strategy, nearly every trader misses. However, it is one of the
most critical. Before I start trading again, I back test my system.

Back testing a system involves applying the rules and conditions of a
trading system to historical data. Although this does not give you 100
percent accuracy as to the profitability of the system, you can assume that
price movements in the history may mimic and have similar attributes over
time.

Confidence is the hardest hurdle to overcome in any trading system. Back
testing will give you the confidence you need to trade your system. So,
whatever technical analysis criterion you use to trade with, be it moving
averages, candle sticks, volatility breakouts, fibonacci retracements or any
other trading system you have devised you are going to need to back test
it thoroughly.

Strategy #11 - Follow Your System Flawlessly

Now that I have documented & back tested my system, I follow it
flawlessly. Clearly, self discipline is a requirement even to start this
process.

Ultimately, undisciplined behavior is going to be punished by the market,
either by direct losses or by the loss of profits which otherwise have been
available. However, the market does not help as much as it might,
because of the principle of random reinforcement. It is the market's
tendency to reward bad behavior from time to time.

This crucial fact is one of the reasons why it takes so long to learn how to
trade. You need to realize there is no point in having a system if you are
not going to follow it.

Strategy #12 – Start Small

In this scenario, after losing and confidence at an all time low, when I am
ready to trade I start small. I do this simply to give my confidence time to
grow. Once I start to feel comfortable again I begin to add positions. Then
it is business as usual.

Strategy #13 – Follow the Rules

Despite the fact everyone knows the old adage of “cut losses short and let
profits run”, many traders fail to follow these rules. Have strategies inbuilt
into a system so that these rules are followed.



         Click Here To Discover The Biggest Trading Secret Of All Time www.trading-secrets-revealed.com
Strategy #14 – Excellent Money Management

I employ excellent money management rules.

Despite it’s importance, money management still remains relatively
unknown by many traders and investors around the world. In fact, Van K.
Tharp, PhD is a world renowned leader in the unique area of professional
trading coaches and consultants and he says:

”Perhaps the greatest secret to top trading and investing success is
appropriate money management.”

I call it a "secret" because few people seem to understand it, including
many people who have written books on the topic.

Some people call it risk control, diversification, or how to "wisely" invest
your money. However, the money management formula that is the key to
top trading and investing is simply referred to as the algorithm.
Van K. Tharp, PhD (1997) Special Report on Money Management

My mentor in this area of trading was an amazing trader and psychologist
called Dr Van Tharp. And although I recommend his book, Trade Your
Way to Financial Freedom, many people feel it is simply out of their reach.
The language he uses and his ideas can, at times appear, very complex
and sophisticated. I must admit, I did have to read and re-read this book
numerous times to fully his concepts.

It has taken me years to simplify these rules and, sure it was a tough road
to pave, but the rewards have been worth it. The good news is you don’t
have to go down the same road I did. After countless clients asking for
coaching on this topic I decided to create a system that takes you through
the process of designing excellent money management rules step-by-step.
I named it “Trading Secrets Revealed”.

Learn more about these secrets, visit www.trading-secrets-revealed.com

Strategy #15 – Know My Statistics

Let me draw some parallels between running a business and trading. Most
successful businesses keep statistics on everything from their conversion
rate to their average dollar sale. The reason a successful business does
this is they understand you must first keep score before they can begin to
improve on that score. Trading is exactly the same.

You should look at trading as a business; therefore you need to learn
some valuable statistics about your system. This way you can improve


        Click Here To Discover The Biggest Trading Secret Of All Time www.trading-secrets-revealed.com
      performance. How can you expect to improve something unless you know
      what it is you are looking to improve?

      You need to know your R multiples, win to loss ratios, expectancy, and
      other similar statistics.

      Learn more about these and other vital statistics check out “Trade Your
      Way to Financial Freedom” written by Dr. Van Tharp.

      Strategy #16 – Celebrate Following My System

      After following the pervious 15 strategies, I should be well on my way to
      regain my day trading guru status. At this point, I reward myself, not for
      making profits, but for following my system. Remember, losses are just
      part of trading, and so understand they are just as important as the
      winning trades.

      Strategy #17 – Find a Coach.

      My last strategy may sound a little funny coming from a trading guru such
      as myself. But the truth of the matter is, even I have a coach. In fact, I
      have coaches in all areas of my life. I learn the importance of mentors
      from Tiger Woods. Even Tiger has a coach. Now why does best golfer in
      the world have a coach? It is not because his coach plays a better round
      of golf that him, it is because a coach can see things from a different view
      point. They are vital in helping you along your trading journey.



2. What are your 3 most important tools for your day trading activity?
(Can be membership websites, magazines, charts, etc)

      1. My data provider – getting excellent hassle free data is critical. Without
      it you just can not trade effectively. To find out which data providers I
      recommend visit: http://www.meta-formula.com/marketdata

      2. My website http://www.meta-formula.com/secrets because it contains
      thousands of dollars worth of free indicators, tools and systems.

      3. My “Stocks and Commodities” subscription. This keeps me up to date
      with what is new and keeps me in touch with the markets.
      http://www.traders.com/




              Click Here To Discover The Biggest Trading Secret Of All Time www.trading-secrets-revealed.com
3. What is the biggest MYTH or LIE about day trading?

      I think the biggest myth is that “trading is easy.”

      The physical act of trading is easy, but making money consistently is not;
      otherwise, everyone would be rich. Trading successfully can indeed be
      mastered. The good news, I believe that great traders are made, not born
      – investors who have enough passion, commitment, education, and risk
      capital can become great traders. Trading is not a scheme to get rich; it is
      a profession that one must master in order to become profitable.

4) What is do you think is the mindset of a successful day trader? How do
you prepare for it?

      First, as I mentioned in strategy #3 the most important technique is
      creating the right attitude! First, a successful trader must take
      responsibility for all actions. A successful trader knows they are cause of
      their success or failure.

      Second, the successful trader has a positive self belief and knows that
      they can achieve success. They have the confidence in themselves and in
      their trading system. They know making money is a by product of following
      a trading plan.

      I believe the only way to prepare for this way of thinking is to keep trading
      as part of a balanced lifestyle. Remember unless your approach is perfect,
      you will never experience enduring success.


5) What were your 3 most expensive mistakes (in your day trading career)?
What did you learn out of it?

      The first mistake I recall making was to search for the Holy Grail of trading.
      This was perhaps my biggest waste of both time and money. During the
      first 3 years of my trading career I spent over $25,677 on a library full of
      books, videos and seminars as well as thousands of hours in search of the
      elusive "Holy Grail" of trading methods.

      The truth is 95% of what I bought was pure junk… I should have listened
      to my mentor earlier and realized the Holy Grail of trading is simply
      excellent money management!

      The second most expensive mistake I recall was not having a predefined
      exit point. Early in my trading career I remember trading a stock I thought
      had a high percentage chance of rising. I was soo confident that I fully
      leveraged the position. The problem was that, when things did not go as


               Click Here To Discover The Biggest Trading Secret Of All Time www.trading-secrets-revealed.com
      planned, I did not know when to exit. I was paralyzed. What ended up
      happening was that kept rationalizing why I should hold onto that stock. As
      the stock continued to fall, I made more excuses. At the very end I
      remember thinking “I can not take it anymore”, and sold out. That, of
      course, was the point the stock turned.

      I learned two very valuable lessons that day. Firstly, always have your exit
      points predefined. Secondly, big losses once started out as small losses
      and it is much easier to take a small loss than a big one.

      The third is not a mistake that took money out of my pocket rather instead
      it was a mistake that made me leave money on the table. In fact, this was
      a reoccurring mistake that cost me big.

      Early on, I remember selling positions as soon as they showed a profit. I
      would not let my profits run. I was too afraid to give the money back to the
      market. I saw the profit as mine. The result was that I ended up selling the
      stocks that were making me money. It was not until my mentor made me
      realize that when you are trading, and showing a profit, that is the point
      where you should add to the position, not close it out. Once I made this
      new distinction my trading profits began to soar.


6) What do you think are the top 3 reasons why people fail at day trading?

      - Looking For Get Rich Quick

      One of the biggest reasons people fail at day trading is because they look
      to get rich quickly. This leads people to believe trading is the answer.
      They come to the market expecting to be wizards overnight. What they fail
      to realize is that trading is like any profession; you must go through the
      learning stages first.

      For example, would you attend a weekend doctor’s seminar and expect to
      conduct heart surgery on Monday? Of course not! I am shocked what
      people expect when they go to a weekend trading seminar. They think
      they will get *wealthy* without having to work, invest or think… it is just not
      going to happen that way.

      - Having No Plan

      Next, and perhaps the biggest reason most traders fail is that they come
      to the market without a plan. With no trading plan, the majority of traders
      approach the market in an inconsistent manner. One day they trade
      stocks and the next they trade the foreign exchange. Similarly, they may
      use one set of indicators one day, and the next day they will throw these



               Click Here To Discover The Biggest Trading Secret Of All Time www.trading-secrets-revealed.com
       indicators out the window and take on a completely new set. Unfortunately,
       with no consistent approach, and having their trading decisions governed
       by emotions, most traders are doomed to failure.


       -Having No Coach

       I talked about this in strategy #17… but I will leave on this point. You must
       find a coach. Tiger Woods has a coach you should too. So, let me just say
       (whether you choose me to be your coach or not) it does not matter. The
       most important factor is finding a mentor. Find out about my coaching now
       at www.meta-formula.com


< End Of Interview>


David Jenyns

David is recognized as one of the leading experts on designing profitable trading
systems. He earned this title after working at one of Australia’s top brokerage
firms, Ord Minnett, at the time of internet boom of 2000.

To date David has authored numerous best selling trading books and courses
including, “The MetaStock Programming Study Guide,” “The MetaStock Secrets
Seminar DVD”, “Trading Secrets Revealed” and “Ultimate Trading Systems.”

David’s critique on trading, (seen in many trade magazines, including Chartpoint,
Your Trading Edge and The Guppy Traders Newsletter) breaks through the
common ground, giving readers something to sink their teeth into.
David now trades professionally, actively runs seminars, one-on-one training and
plans out systematic moneymaking trading systems. On his website, www.meta-
formula.com, traders can uncover invaluable tools required to enhance their
profits.
David advises, “Trading is not a get rich quick philosophy. It is a profession that
needs to be mastered.”

He consistently motivates scores of people to an incredible triumphant position…
now – it is your turn.




                Click Here To Discover The Biggest Trading Secret Of All Time www.trading-secrets-revealed.com

				
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