Swing Trading Strategies

Reality TV is a mind-numbing constant on sets around the world.  Whether you’re in Australia, Japan or the good ‘ol U.S. of A., people tune in by the tens of millions to watch performance and survival competitions of every possible style.

I believe that one of the main reasons people tune in so readily is that we have a deep-seated curiosity to see the “real thing” in action, to see truly talented people separate themselves from the pack.  For example, which one in this group of nannies, auto mechanics and school teachers will prove that they can sing well enough to earn a recording contract?  Or who can survive the physical and psychological rigors of the Australian Outback?

People around the globe love to see the cream rise to the top.

In a very real way, the financial markets set up their own reality game – one that is played out every day and one where the score is kept in terms of both dollars and psychological capital.

I want to re-introduce you to one of the “real deals” from Wall Street, my good friend and business partner Christopher Castroviejo.  Christopher is truly the pro’s pro when it comes to trading.

I want to tell you a bit more about him and his background, but before I do that, I wanted to share some of the things that I have learned while trading, working, teaching, and managing money with Christopher.  Here are the lessons that I have learned from the “Pro’s Pro”:

First and foremost, professionals have an understanding of what works in the market.  They turn that market knowledge into a plan, and then stick to the plan in an unwavering manner.

Pro traders have a game plan and prepare for the market each day.  This preparation gives them a structure to provide consistent results while enabling them to have the flexibility to make money under many different market conditions.

Pro traders take what the market gives instead of forcing their will (or their strategy) on the market.  They have multiple tools in their toolkit to allow them to participate in different market conditions.

And of course, pro traders follow Van’s Ten Task of Trading.  Van has been modeling trading excellence for decades and his “Ten Tasks” are the cornerstone characteristics that are shared by everyone who rises to the top.

A Market Maven in the Every Sense of the Word

I’ve had the pleasure of trading with many different professional traders.  My good friend and business partner Christopher Castroviejo is at the top of that heap.

Webster defines the word “maven” as one who is experienced or knowledgeable. But Christopher is more aptly described by the Wordnet definition: “someone who is dazzlingly skilled in any field”.  Christopher’s depth and breadth of knowledge in the trading world is second to no one that I know.  But that knowledge didn’t come overnight…

Christopher has spent 37 years in and around the markets, and his resume’ and track record on Wall Street became something of legend; stints with Smith Barney, J.P. Morgan, a partnership at Bear Stearns, financial consultant for The Vatican Bank to name a few. Christopher was hot and getting hotter. Highlights including turning $10,000 into $178,000 in four weeks, 8 straight years of 43% compounded profits as a top hedge fund manager, a sleek Manhattan brownstone and a spacious summer getaway in the tony Hamptons.  Christopher even struck up a friendship with his money making idol, billionaire George Soros (to be honest, the people Christopher has worked with in the field is a veritable “who’s who” of Wall Street elite).

Along with multi-million dollar wins, there were a few huge losses; in just six short weeks, $10,000 became a cool million, and quickly nothing but air. And, in one monumental transaction gone wrong, Christopher lost $15 million dollars in just a few months…$1.5 million of it his own money. But, unlike the Vegas poker player who can’t leave the table, Christopher learned from the missteps as well as the wins. “You have to reinvent your performance all the time. I used to see the business as just about orchestrating wins, but the rational way of thinking about it is really about controlling your losses.”

Anyone who has read Jack Schwager’s “Market Wizards” series knows that many of those top drawer players became the traders they are by learning lessons in their own personal “trials by fire”.  Christopher has certainly been through his own version!

Today, Christopher is an active intraday and swing trader and he continues to manage money for a select list of Wall Street insiders.

Christopher is a master at several aspects of intraday trading and is particularly skilled in the application of key level support / resistance and Market Profile. We will be covering these topics in depth at the upcoming Professional E-Mini Futures Tactics workshop.

Christopher will join me in teaching this cutting edge workshop on e-mini index trading in Las Vegas on March 27 – 29.  This course has received rave reviews from attendees.  Since we only we teach the workshop a couple of times per year — it’s one you don’t want to miss!

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