Who is The Transparent Trader?
Hello and welcome to my Personal Blog. I am Jarrod Goodwin, a 39 year old Stock Market Operator (sound fancy?… No, I just trade shares, FX and Indices like everyone else!) from southern England.
I have been trading the financial markets since 2007 and I love it more and more all the time. But not only that, I learn more and more all the time.
Why Do I Trade?
After about 10 years of my working career I was loosely introduced, by a friend to the Stock Market. After a few days looking at price movements of individual stocks I quickly became fascinated with the idea of investing a lump of cash one day and then seeing it multiply another (I didn’t really think about the chances of it diminishing!)
And I’ve been hooked ever since…
At the time I first started to trade, the only real method I knew how to make money was trading time for money. A Job. I now know this is a bad idea. Trading time for money is worst way to make money!
I quickly realised the benefits of trading the financial markets. These are the ones that first appealed to me most (and still do):
- Be your own boss
- Work when you want to work
- Leverage – learn how to turn a £5,000 account into a £10,000 account and the same principles apply to turn £50,000 into £100,000
- Low overheads and no staff. All I need is my laptop and internet connection
- Work wherever you like. As long as there’s wifi, you can trade anywhere in the world
In one word ‘Charts’. I trade 99% technical analysis. That means I look for familiar chart patterns (price action) and when conditions are right, take the trades. I think most non-traders believe making money in the markets is about investing in the right companies for the right fundamental reasons. This is not me! I don’t understand all the fundamentals of a particular company and neither do I want to.
I believe you do not have to know anything about the companies (other than past price action) to make money in the markets.
Timeframes: I have always traded using end of day data. This means that I do not need to look at or take action on any of my trades during market open hours. I started this way when I had a full time job and only had access to prices after work when the markets had closed. I have become to love this style and do not plan on changing it.
Trading from daily charts means I have the flexibility to look for trades between the hours that the market closes and re-opens. I currently trade US stocks, Indices and FOREX so I do trade analysis and place orders between the hours of 22:00 and 00:00 GMT.
I am told the most profitable traders in the world are day traders. Trading during the open hours. This isn’t me. Most profitable or not, I personally would not want to be stuck looking at screens all day long. This seems more like a very high paid day job to me. I want the flexibility and freedom my trading style gives me. I spend no more than 25 minutes per day (and usually less) looking for and amending open trades.
So Why Read My Blog?
I decided to set up this blog in my spare time to give you an insight into my trading journey. From knowing nothing, to consistent profits. After years of trading I’ve learnt a lot, actually a hell of a lot! But I’m still learning all the time. And I don’t think I’ll ever stop learning.
I like connecting with other traders whatever your experience. It pleases me to able to share some of my market knowledge in the hope of improving your trading.
And it works both ways. Whenever I talk to other traders, whether our styles are similar or worlds apart, I can always learn things too.
Where to Next..
Thanks for taking the time to read about me and my trading journey. If you have any questions email me at firstname.lastname@example.org. You can engage with me on Twitter and Facebook by clicking the icons at the top, and bottom of the page.
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