Born in Lincoln in 1960, Chris Kobewka says he was always goods at maths and spent 25 years in engineering doing mass calculations. At one point he started an internet trading account with Finspreads, initially depositing GBP200 which he managed to turn into GBP 11,000 within 4 weeks of creating the account, all by trading the Dow Jones. His strategy consisted of making use of the 200 to 1 margin, with his first bet being for 40 pence and constantly compounding the stake money while executing around 20 trades a day (at the time, i.e. 2001/2002 the Dow used to move 300 to 400 points a day). In the second week he was trading he made over GBP1000 in an hour and after a month he was banned by Finspreads due to his incredible profit performance.
What stands out in Chris is his philosophy about the markets. He hates losing and specializes in a small part of the overall markets - he trades in just one instrument (he traded the Dow Jones for 3 years) concentrating on the first hour of trading. He states that there is a difference between the morning and afternoon sessions as the afternoon session tends to trend. He says that it makes sense to concentrate on just one market as nobody can know everything about all companies. Mr Kobewka also believes that it is the long term goals which matter, not how much you have profited in one day so you need to work out what you want to win in a year and then work backwards. My personal observations (from experience) are that the markets are especially fickle and random when time frames are shortest (i.e. intraday).
However, it is clear that Chris is a REAL TRADER and it is obvious that he knows what he is talking about -:
At one point he was even mentioned in the Investor's Chronicle Buyer's Guide to spread-betting and CFD providers supplement:
This particular quote is worrying:
"One very active spread better is Chris Kobewka. As a better-than-average trader, he does not fit into the normal mould of a loser, and yet he still likes to bet small - between £1 and £10 a point. After placing a £2-a-point position with one leading company just after markets open every morning - and winning most of the time, at market opening times - he suddenly found that the spread-betting company no longer quoted Nikkei prices for the first five or 10 minutes of the trading session.
This account clearly presented a problem for the company concerned. Too small to hedge (as the Nikkei contract is bigger than £1 a point), the account was showing a consistent ability to win. The spread-betting company simply used its power to decide what prices to quote, and when, and then ceased to make a market during the time period concerned. Another firm stopped him trading via the internet after a large monthly gain."
Chris says that spread betting is very similar to futures trading. In fact Chris had discovered that the spread betting firms calculate their prices for the daily cash index by getting the futures price for the Dow and then adding fair value to it as worked out by Bloomberg to the price.
Chris Kobewka is the author of two books - 60-minute trader and Winspread - as the owner of both these books, I'd have to say that the 60-minute trader is better value than the original Winspread one.
60minutetrader is essentially an ebook describing a system which is traded every day, even now. You also receive daily trading charts/updates showing the entry and exit points of the daily trade along with useful and helpful hints and comments directly from the creator (Chris Kobewca) - reports which I've been following for a number of months. I have also spoken on the telephone with Chris for almost 40 minutes and I find him to be extremely approachable. Must admit that I don't always trade it, but I nearly always look at it, even if not necessarily at exactly the right time of day. Friday (11th February) was a bit "iffy", it was possible to make a small profit, but you would have had to time it well. But with his characteristic honesty, the author actually took the strict view and counted that day as a loss his daily email reckoning. The method fades the Dow shortly after the open but note that you will need $2000 to open a trading account and trade the strategy described in this book. I came across this tactic about 3 years ago. The principle being to fade an opening gap in indices or stocks if certain entry criteria are met, the way it is played is to enter the fade anytime after the first 5 min, and the proponents of it at the time didn't claim to have invented it, so its likely to have been around for a while.
The book teaches you good money management skills, shows you how much to risk and provides you with a good trading strategy. However it's not a holy grail strategy which will always work and there are drawbacks to it; one of which is the staking policy which takes on too much risk. If you stick to your own money management it does work better but will take you much longer to make the % on your capital.
I do use some of the concepts from the 60minute trader strategy and combine it with other concepts that I have learnt from other places. It's up to you if you want to purchase it or not but the best ways to learn trading is to build up a circle of friends who are traders and read around in forums where loads of free strategies and information are given. More about it HERE. Another book on fading is ''The Logical Trader' which is also written by an actual trader and contains a method for fading, when the set up is correct. This is just one part of a method and there are several other interesting ideas.
One important thing I've learned is to look closely at how different types of strategies work and then look at how the indicators behave. It is then possible to pick a range of indicators which will give you high probable trades. Some good indicators I would recommend are the MOVING AVERAGES, RSI, ADX, MACD , WILLIAM %R and DAILY PIVOTS (indicator which displays pivot, resistant, support and camarilla points automatically updated each day and displayed on the chart).
I know there are a lot more good indicators out there and not everyone will agree with my list but the above indicators do the job for me and show me different angles to the market. In any case you will pick up new things everyday and one interesting thing about the markets is that you never stop learning and you always have areas to improve. End of the the day it all comes down to individual preferences on what works well for a person ..... So create a strategy by finding out what works for you. Play around and test out a variety of strategies and combine it in away that suits your trading style.
Starting with a $360 stake, it took Chris Kobewka less than a month to turn it into $19,800 - as a raw beginner - using his own unique system that continues to astound veterans.
Chris is now offering FREE Online Future Trading Results from what has to be the hottest selling online future trading system on the net. He says his system is suitable for complete beginners as well as seasoned traders.
No slouch, Chris has been successfully trading this unique system for over 4 years and making an absolute mint (he once made over $2,000 IN LESS THAN AN HOUR with just 3 trades of around $20).
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