Timothy Morge has been a professional trader, author, educator and mentor for more than 35 years.Besides trading his own capital, Tim is President of Blackthorne Capital, a private money management firm that works with several of the largest non-U.S. Institutional portfolios. In the 1980’s and 1990’s, he managed and taught other traders for institutions like JP Morgan and Goldman Sachs. He remains one of the world’s largest currency traders, routinely carrying positions of several billion U.S. Dollars. Read More
Wonder What We Do In The Premium Sessions?
February 4th, 2010 | 
Author: Good morning.
I know some of you wonder what all the hoo-hah is about with the Market Maps Pemium Members section and the Morning Mini-Mentoring sessions. Today, Paul showed a brilliant spreadsheet he developed for yesterday’s session and then showed us what happens when you take a $10K account and trade at 40 pct profitable wins, wth 2.5 risk reward ratio–and then let the spreadsheet randomly calculate the outcome several times. Then we looked at the details and saw the positive runs and negative runs, as well as the over all statistics.
Will he share it? He’s going to post it in the Premium Membership area so everyone can try and see how easy or difficult it is to accomplish their own trading goals…
Then I did a curious bar by bar. I didn’t tell folks in advance, but the idea was to watch Tim trade a $10,000 account and FEEL THE NEED to make 4-7 trades in a day, to FEED HIS HABIT! How many of you suffer from this type of trading style? It wasn’t easy to trade in that style, but I believe I did it, and got the point across. About halfway through the exercise, after two losers and me forcing a third trade, several people piped in…’ok, that’s me trading…I get it!’.
And someone emailed me afterward:
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Tim,
Just wanted to say thanks for today’s session.
I’m increasingly finding the need for addressing my ‘mind set’ in trading.
Anyway, it was brilliant, thank you.
S.
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Trading is hard work! Some of it is the lines we draw. But lots of our success or failure comes from managing other parts that come into play. We deal with those parts as well–and as often as we draw lines.
I know some people want us to give ‘real-time’ entries’, like they do in some of those expensive and well-known chat rooms, but honestly, wouldn’t you rather we teach you to be consistently more profitable traders? That’s what we try to do each morning at the Mini-Mentoring sessions…
I wish you all good trading.
Tim
Here is the link, good for Wednesday and Friday of this week. It uses the same ID number, so once you register for one of these sessions, you are registered for the entire week. You will still have to click on the link to join or use one of the methods below. You should get an email each day, reminding you of the next day's session, with the same click-through link. NOTE the sessions have moved to 11:00 am ( MST-7) Arizona time!
MarketGeometry's Premium Mini-Mentoring Sessions hosted by Tim Morge and Shane Blankenship
Premium Mini-Mentoring Sessions for September 8th and September… Continue reading
We talk about balance in all things today. In doing our annalists, we look to balance market structure, our Median Line tools and our risk management.
One of the most rewarding and challenging things I have done in my 40-year trading career is teach elementary school students the basics of technical analysis and how to apply those basics in order to make money trading stocks. Each student comes to the trading class with a fairly clean slate: They don't know much, if anything, about the markets and they don't carry any of the emotional burdens of having to make “real” money to pay the rent or buy food. They soak up what I am willing to teach, which is a delight, but once they soak it… Continue reading
Posted in 2 Responses to “Wonder What We Do In The Premium Sessions?”
I think that for many people, the best investment you can make to improve your trading is seeing a shrink. This website is all you need as far as technique is concerned. But the real challenge is to listen closely to what Tim has to say and then to practice the hell out of it and find the aspects of the technique that fit your personality. Does your subconscious want to do that? I know mine did not, until recently, when I resolved a big personal issue. I used to think trading psychology was wishy washy BS, but it’s really important. Read Robert Krausz, Mark Douglas, Van Tharp and they will all tell you the same thing. Master your tools and master yourself!
I would also ad Ed Seykota to that list, who, if I’m not mistaken, traded with Tim at Commodities Corporation. If two top traders from a firm bought by GS tell you the same thing, you better pay attention!