Topics:
- Buying New 8 Week Highs vs Buying Dips
- Relative Strength Process
- More Art Than Science
- Be Who Are, Not Who Your Not
- Adding to winners, holding winners & getting back in after getting stopped out
- Mental Edge
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Guest:
Ian McMillan, CMT
Market Technician at Adaptiv/Client First
Ian’s Resources
Rapid Fire ?
Q. What Trader has influenced your career the most and why?
A. JC Parets; took the time to meet me once when he didn’t know me and didn’t have to; gave me a lot of confidence; now we are good friends
Q. What was one of the hardest things for you to overcome in Trading?
A. Position sizing and realizing that I cannot own everything I see/like
Q. How has your trading process evolved over the years?
A. Understanding relative strength was probably one of the biggest “lightbulb” moments for me
Q. What is one attribute that you believe every trader should have?
A. Patience, and the willingness to buy a stock back that you were stopped out of for a loss
Q. Favorite Book about Trading?
A. ‘How to Profit in Bull and Bear Markets’ by Stan Weinstein
Q. If you had to pick a profession other than trading, what would it be?
A. Residential architect, was very close to going to school for engineering; mom wanted me to be a lawyer
Q. What’s the best advice you received about Trading?
A. Have a “robber baron” attitude towards the markets
Q. If you can give a piece of advice to the younger you about trading, what would it be?
A. Explore everything you can (different timeframes, indicators, fundamentals, etc.), but try to keep it as simple as possible
Q. If you had to elevator pitch me your edge trading, what would you say?
A. Momentum; ability to use leverage when a strong trend is found
Q. Favorite thing to do when not Trading?
A. Spending time with son (just turned 1 year old)
If you enjoyed this interview be sure to listen to these other episodes:
Developing A Champion Mindset – Coach Dana Cavalea
