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Rather, I explained he should be asking:

* How much longer will this last?

* When it finishes how will I know & what will I do?

* How do I find out about Technical Analysis and Money & Risk Management?

* What's a Trading Plan and how do I put one together and follow it?

* How and when do I add to the stocks I already own?

* How should I structure my portfolio regarding individual stock risk, sector risk and total portfolio risk?

* What's my exit strategy for each stock I own?

* What's my exit strategy for my whole portfolio?

* How do I keep accurate records and monitor my performance?

* What am I going to do to learn more about myself and my own psychological weaknesses (many of which I may not even realise I have) that can make all the difference as to whether I win or lose long term?

'Phil' was genuinely surprised that I had taken the wind out of his sails ' luckily it was after our sailing race together, but hopefully before he loses his own financial race.

In January at http://www.prweb.com/releases/2005/1/prweb193459.htm I issued a worldwide press release to caution unprepared novice investors and traders of the potential pitfalls ahead in the market. A series of

I had the pleasure of something invited on a friend’s yacht to sail in a race on Sydney Harbour yesterday. On board, as one of our motley crew, I met a top ranking corporate executive from one of Australia’s largest banks, who we’ll call ‘Phil’ here for the purpose of this article. in search of the race ended and in line with organism told of my trading experience, he told me he has a large stock portfolio, many of which are speculative resources stocks. He said that he’s excited by all the money he’s making and wondering how long this has been going on?

As would be expected, ‘Phil’ also asked me for some “hot tips” for more stocks to buy. He was surprised with my reply when I told him Daryl Guppy’s standard response of “Tips are for waiters” and that I thought he was demand the wrong questions. (Daryl Guppy is a well known Stock Trader and International bestselling dash off - see www.guppytraders.com)

Rather, I explained he should be asking:

* How much longer will this last?

* When it finishes how will I know & what will I do?

* How do I find out along toward Technical pigeon-holing and Money & Risk Management?

* What’s a Trading Plan and how do I put one together and follow it?

* How and when do I add to the stocks I once own?

* How should I structure my portfolio regarding individual stock risk, sector risk and total portfolio risk?

* What’s my exit strategy for each stock I own?

* What’s my exit strategy for my whole portfolio?

* How do I keep fussy records and monitor my performance?

* What am I going to do to learn more close at hand myself and my own psychological weaknesses (many of which I may not even realise I have) that can make all the difference as to whether I win or lose long term?

‘Phil’ was genuinely surprised that I had taken the wind out of his sails – luckily it was in the rear our sailing race together, but hopefully to he loses his own financial race.

In January at http://www.prweb.com/releases/2005/1/prweb193459.htm I issued a worldwide press release to monition unprepared novice investors and traders of the potential pitfalls alee in the market. My wife Angela and I lost our waterfront home on Sydney Harbour in the 'Tech wreck' of 2000, so we speak from hard personal experience.

As complete novices in the market in 1999, we doubled on paper a large stock portfolio in only six months. Then in less than a year we suffered subversive losses in the tech stock crash of 2000 and beyond:

* We were set back more than 15 years financially and emotionally

* We were forced to sell our waterfront home – the very same house we had set as a goal soon beyond coming in Australia as new and penniless immigrants in 1979. We began renting what I named a ‘dog box’ - as the housing market then rocketed.

* Angela was working as a retail assistant

I have a First estimate Honors Degree in social Engineering that didn’t help. In fact I have since come to understand that it undeniably helped to work respecting me. With our experience of riding some of the largest waves (up and down) in the market and having lost hundreds of thousands of dollars in the process, we know more than most stock traders in the world of the pitfalls that delay unsuspecting novice traders and investors.

We have since greatly ascertained party exposed to the successful methods taught by expert traders Alan Hull, Daryl Guppy, Jim Berg, Dr Van Tharp and others to trade profitably and with well-advised risk control.

The forum for serious investors www.stockmeetingplace.com is the only chatroom where you will find Daryl Guppy. We recently received the following response from a fellow Australian trader Nathan Unger on that site (see below):

“...thank you for sharing. Your comments on this subject are very insightful, and rightfully so considering your near trading death experience, per se. Failure is ever and anon such a difficult moniker to be branded with, for it involves us having to open up that we were wrong. Of course, our mistakes means that we must swallow our pride – an undeniably difficult feat for many traders. Grappling with our own motives mid the psychological matrix that is the stock market is, to say the least, a intricate struggle.

In an approximately paradoxical fashion the stock market can create whelps out of us through both our losses as well as our victories. We are unnerved when we lose and must somehow muster the courage to tentatively re-enter the markets. Yet, potentially even more dangerous are the unbridled successes that often distort a trader’s perception anyhow their ripeness to regulate further success – successes that work to lesson the future assertion of failure.

Who would have thought that winning could in fact spring up a setup for losing – a conundrum of the worst kind? I know of no other occupation that has the readiness to masquerade as both friend and foe and then make you think that you can tell the difference.

Your experience is, I believe, a treasure worth perhaps more than the sum of your losses. It reminds me of how the most seaworthy vessels have typically been known to be the ones that have weathered the most devastating storms. Yours is a stellar effort, my friend. I will most quite be purchasing your book.

Thanks also to Daryl and Alan for their lift and encouragement in helping to mould John’s encounter into the best trading tool of all – practical experience...”

During 2001, not long in keeping with losing our home, we made contact with Daryl and I take this opportunity here to charge on and thank him once farther for his wisdom and support since that time and also to Alan Hull and Dr Van Tharp since then. Daryl subsequently invited me to write a short factor for his regular weekly newsletter (Tutorials in technical Technical Analysis) which became the first of many articles as my wife Angela and I began our search for education.

He made a strong point that by concentrating on the research needed to write the articles we would pick up good habits and through sharing with others, we ourselves would be more inclined to stick with the discipline involved in the subject on foot covered.

We have recently collated the articles I have written for his newsletter and they are now lumpen as ‘The Atkinson - Guppy Articles - Stock Market Educational Options for Investing Online & Online Trading - Opportunity for a Home Based Business’. Most of these articles deal with concepts and trading skills which are still relevant to readers today and include the following:

* CONDITIONAL STOP LOSS ORDERS: A real life semblance mid using two brokers for monitoring stop loss orders - the true cost of slippage

* DIRECTORS DEALINGS: A snapshot study of the Australian share market to determine, if by monitoring the purchases and sales of commercial enterprise directors with their own shares, whether it is possible to obtain an insight into the future direction of the share price and hitch a ride in the right direction - or jump ship with them.

* EXPECTANCY - the net profit or loss that you can expect over a large number of single unit trades. A series of articles with thanks to the work of Dr Van Tharp, indite of 'Trade Your Way to Financial Freedom'

* TAKE-OVERS: A short overview of some of the strategies traders entreat to take-overs.

* fullness SELLING and KANGAROO TAILS: A series of articles on the recent phenomenon in the Australian share market raised by computerised self-operative conditional stop loss brokers savagely swinging sell orders into the market, with prices often rebounding several percent within minutes

Through my writing articles and through our site, my wife Angela and I now aim to provide a ‘Road Map of Discovery to the Stock Market' to help new and existing online investors and traders find the trading education information they need to initially survive the pitfalls ahead, then to thrive in the market.

We wish you every success in 2005 and next world and trust that if you haven’t done so already, you will be seeking out the answers to the questions I offered to my sailing team member ‘Phil’.

This essay was printed in Alan Hull’s weekly newsletter ‘ActVest’ for ebullient Investors in March 2005 (available from www.alanhull.com) and is reprinted here with Alan’s permission.

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