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Dennis Gartman has been involved in the stock market for over three decades. He has also traded the foreign exchange and money market instruments. He is very familiar with trading Treasury bonds, Treasury notes and futures contracts.
To say Dennis Gartman is an experienced trader would be a gross understatement. For a man who has traded for so long, and has gained a wealth of experience; he has some basic trading rules and tips which have helped him in his trading journey.
Rule #1
Never add to a losing position. It is usually hard to admit when a trade goes wrong, but this happens quite a lot. And there is a tendency to add to that losing trade in the hopes that the market trend will reverse, Gartman advises against this. A better option is to close out the position and re-group, or let the trade close on its own without investing more in a bad trading decision.
Rule #2
Trade like a mercenary guerrilla; this means been sensitive to the general trading climate, and be ready to change strategy as the trading climate changes.
For example, if we were long on the EURUSD, and we start to notice unfavorable news releases which could have a negative impact on the EUR, and cause a decl…
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Daytrader21 avatar

Gartman is the supreme counter indicator that has ever existed, just fade him and you'll be a Billionaire:)

Margoshka avatar
Margoshka 17 Sep.

great!

Airmike avatar
Airmike 21 Sep.

nice article

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6/28
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THE ALPHA TRADER
There is an elusive group of traders, who time and time again have been able to make consistent profit from the markets. I call them the ‘alpha’ traders, because they represent the first group of successful traders in a market that is statistically noted for its high risk and volatility. In a room with a hundred traders, these “alpha” traders number about five. Their existence is almost a myth.
These alpha traders have no super-human strength or intellect; they are simply men and women who have found ways to successfully trade the financial markets. When anyone hears this phrase, one immediately thinks about George Soros, Warren buffet and the greats of the financial markets. However, I do not refer to these greats. I refer to the average swing trader, the Chinese wife trading from the comfort of her home, the young student trading to carter for educational fees and the husband, who spends a few hours in the market, while he handles his day job.
THE ALPHA MINDSET
The alpha trader is first and foremost a businessman or woman. Every trading decision is taken as a business decision, free of emotion and bias. The alpha trader looks at minimizing losses and maximizing
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AdamFx42 avatar
AdamFx42 1 Nov.

Thanks, nice article

Victor avatar
Victor 2 Nov.

very well written

Airmike avatar
Airmike 5 Nov.

Nice article. I just want to ask you one thing. as you mention in the article" The alpha trader is a momentum trader" . momentum trading is just one small piece of trading world. Do you think that this type of old style trading , with concentration on momentum is one of the important criteria for being an Alpha trader? why is scalping not relevant technique for Alpha traders ? thanks for article.

P3tr4 avatar
P3tr4 7 Nov.

Hi Airmike, if we got into the topic of scalping vs trending following, it would be a long one. The most important thing to consider is the ROI, why scalp 5pips and risk 20pips? because scalping generally opens you to higher losses if the trade goes bad. I know people who scalp, and its very hard work and requires a lot of screen time in my humble opinion. The markets trend, so why not just stay with the trend?

FxMidaso avatar
FxMidaso 14 Nov.

good article, everyone here should be aiming to be an alpha trader.

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