My name is Kieran Murphy and I am really looking forward to showing you the opportunities that exist when trading the financial markets. There is a great expression that “if you do not know what you are doing, then the markets are a very expensive place to find out”.
Financial trading is unbelievably rewarding IF you know what you are doing. I will show you just how rewarding it is but firstly, I need to point out to you that 95% of people who trade blow up their trading accounts. Unless you have an edge in the markets, you will be one of those 95%.
In my honest opinion and I have been trading 25 years, the key is to have a great mentor. It is your responsibility to do your due diligence (as nobody else can do it for you) and find that mentoring program led by an experienced mentor. However, I also understand that it is like saying to someone to go out and find that champion race horse. Where do you start? There are so many people with claims on their website, realistic testimonials that you don’t know are true.
I am probably aware of most of the online courses in financial trading and it beggars belief the number of scams and so called educators on the Internet with “get rich quick schemes”, claims and strategies. It is even scarier to think that a lot of people part with their hard earned cash without knowing the experience of the person offering the course and fall for the “falsified” claims and marketing videos
♦ Who is the trader behind the mentoring and what is their level of experience?
Firstly, I think it is very important that I give you some background information on myself. I didn’t get this grey hair from doing nothing.
I studied electronic engineering and graduated in 1990 here in Dublin. Ever since college I had an active interest in the stock market and it became a hobby at first but in 1998, I decided to change from engineering to stockbroking.
I did very well for a few years but my bubble burst on March 11th 2000, the day of the dot.com crash. It was then that I realised I didn’t have a clue about risk management. It doesn’t matter how many years experience you have .. if you don’t have a risk management strategy, humility is only one trade away. So that led me to the next chapter in my life … understanding risk management. So that is when I REALLY started to appreciate why risk management was CRUCIAL.
I then started my own stock market training company and built the business for a exit sale. It was then that I got very interested in foreign exchange trading (forex) and spent nearly 5 years developing trading algorithms for the forex markets. I was always hoping to develop automated trading strategies that gave an “edge” but at the end of the day, the systems I developed kept blowing up after a period of time .. sometimes they wouldn’t blow up for 15 months or more.
So it was back to the drawing board and I realised that I needed a trading system that was a mixture of fundamental date mixed with technical entries and exits. I am a technical AND a fundamental trader.
So I have been trading now for a long time and if you read more about me in “Meet Kieran” then you will how this business model came about. Its an interesting story.
I also am an adjunct lecturer in Trinity College in Dublin in the Masters of Finance program and talk at certain events on trading and risk management.
♦ What is their strategy towards risk management when trading?
It is commonly known that Warren Buffett is known as the best investor of modern times. He has many great sayings but this one was very applicable to myself “Only when the tide goes out do you discover who’s been swimming naked”. And that is exactly what happened to me. I did not know what to do when the dot.com crash sunk me.
If you do not have a proper risk management strategy in place whether you are an investor or trader, then you will blow up your account eventually. After, what happened to me from 2000 to 2002, I knew I had to learn about risk management. I spent the next 3 years concentrating on mastering risk management.
Trading, as opposed to investing, has higher risks associated with it but also much higher rewards if you can trade successfully. Trades can take anywhere between 1 minute (scalping) to days (swing trading). Either way you need to have very measured risk management.
I think it is very apt now to show you a slide form from one of my presentations.
I risk approx 2% per trade except in a very few high probability trades. By risking 2%, you should be able to grow your trading account at an average of 8% per month without taking big risk. There is a very famous book called “Trading in the Zone” by Mark Douglas who introduced the investment industry to the concept of trading psychology. Douglas uncovered the underlying reasons for lack of consistently profitable trades and teaches traders to look beyond random outcomes, to understand the ‘true realities of risk’, and be guided by and be comfortable with the “uncertainty principle” that governs all trading decisions. Douglas’s book was a changing point for me.
Douglas’s teachings is about “maximising the trader’s state of mind” which is the key to successful results. Not exhaustive analysis or the latest “fad trading system”. He teaches traders to think in terms of “probabilities”. He taught me to trade in the “zone” and I don’t need to know – and don’t care – what the market is going to do next. I know what I am going to do next. And that made all the difference.
When going with a mentor, you need to ask them about their attitude and strategy to risk. This will be absolutely key to being a consistent trader. Like golf, you don’t need to be the best in any one round. But you do need to be consistent.
♦ What is the offering, and will they let you trial their offering?
Now let’s say that the mentoring program you are looking at has impressed you through Steps 1 and 2, then it is time to see if they walk the walk!You need to see if they will give you access to their program for at least a week so that you can evaluate their offering. You need to pick a week you have time to evaluate the offering properly. You must be fair to yourself. There is no point in picking a week where you know you will extremely busy at work or you are on holidays. You owe it to yourself to put the time in to see if the program is for you.
At TSL, I want to give people 2 weeks to evaluate and learn from the program. I want people to gain a knowledge that is honest, truthful and completely transparent. After registering for the 2 week trial on the Trading Signal Labs website, you will receive an email with a login name and password for the TSL members site. You will start with Step 1 of the TSL 7 Steps to success mentoring program.
I must add at this point that there was one trader I met in 2015 and he was a great trader. I wanted to learn from him and spent over 2 months talking with him every day over skype on his methodologies. But you know what … I just could not understand his logic. He had a system that was unteachable, or he just couldn’t teach, or I was just too thick. It didn’t matter. The fact is that you need to be able to follow everything.
Over the new 2 weeks, you will download our “state of the art” trading signals app on your desktop, laptop, phone and tablet so that we are always connected. You will open a demo trading account with a fully regulated trading broker. And you will review the training videos. Within days you will be able to
– Understand how to place buy and sell trade orders
– Calculate your bet size so you are not risking more than 2% per trade
– Receive trading alerts in real time with push notification technology on your smart devices
– Decide on the clarity of the offering and how profitable the signals are
♦ Will they share their live trading account with you?
A professional honest, transparent mentoring program needs to be backed up with a real live portfolio with verified trades. This is a must in my book. A great line from the 1996 American movie called “Jerry Maguire” when Rod Tidwell (Cuba Gooding) looks at Jerry Maguire (Tom Cruise) and exclaims “Show me the money Jerry” … brilliant line and is so true for anybody claiming to know how to trade profitably on a consistent basis.
Show me the money Kieran!
On Nov 8th 2017, I launched a live €10,000 portfolio which I call FLOW because I want to see the power of compounding with a flow of money every month. The purpose of running the live portfolio is to differentiate Trading Signal Labs from other educators who just talk! I believe that results speak for themselves … end of story. You can find the latest returns on this portfolio on the website by clicking here.
Now some people do not want to participate in trading themselves and hence they can participate through a regulated fund. Hence there is a the DIY option of trading the signals yourself or placing your funds in a regulated fund.
But first, let me show you that there is a very honest, transparent, genuine way to help you completely change your financial life beyond your wildest dreams. Take the 5 day challenge.