Learning from the GREATS

Trading Psychology: Building a Winning Edge
    Speaker: Dr. Ari Kiev,

    Author of:
    Trading to Win: The Psychology of Mastering the Markets
    Trading in the Zone: Maximizing Performance with Focus and Discipline
    The Psychology of Risk: Mastering Market Uncertainty
    Becoming a Disciplined Trader: Techniques for Achieving Peak Trading Performance

    World famous trading coach, psychologist and author, Dr. Kiev draws upon his considerable experience in working with Olympic athletes to develop for traders a winning psychological attitude. He emphasizes the need for every trader to develop stress reduction techniques and the importance of both setting goals and then committing oneself to doing whatever is necessary to achieve those goals. Great traders learn to act in response to the trading plan and not in response to stress or anxiety, the latter of which often causes a trader to hold on to a losing position for too long or to close a winning position too soon. Dr. Kiev recommends that traders, like professional athletes, practice visual imagery to confront and deal with all possible scenarios before they happen. This will both develop a positive mindset and build confidence to handle the uncertainty of the marketplace. Lecture presentation lasts 30 minutes followed by 30 minutes of question and answer.

Dr. Ari Kiev
Decision-Making When Rationality Fails
    Speaker: Dr. Mark Rzepczynski
    President & CIO, John W. Henry & Co.

    Founded in 1982, John W. Henry & Company, Inc. (JWH) is an alternative asset manager and one of the largest managed futures advisors in the world with clients that include leading money center banks, brokerage firms, retirement plans, insurance companies, multinational corporations, private banks and families spanning the Americas, Europe and Asia. Dr. Mark S. Rzepczynski is the president and chief investment officer of JWH and is responsible for the day-to-day management of the firm. Dr. Rzepczynski characterizes markets as operating in one of two states; a convergent period when prices are relatively calm and stable and a divergent period marked by heightened volatility and uncertainty as prices move from one equilibrium to another. He goes on to argue that the typical method taught for decision making in efficient markets - whereby the investor attempts to evaluate all possible future scenarios and assigns a likelihood to each - may be possible in the former case but breaks down in the latter. As a solution, Rzepczynski describes the 'fast and frugal' decision-making process used at JWH in which the emphasis is spent on extracting signals from the market rather than trying to gather and process all available information. Lecture presentation lasts 32 minutes followed by 15 minutes of question and answer.

John W. Henry
Commodity Trading and the Energy Boom
    Speaker: Paul Tudor Jones
    Chairman and CEO, Tudor Investments Corp.

    From a humble start in 1976 as a cotton trader, Paul Tudor Jones grew to become one of the more successful and famous commodity traders of his time. Featured in Jack Schwager's best-seller, The Market Wizards, Paul Jones in this 30-minute audio-video clip shares his thoughts on the four ways to make money on Wall Street including the importance of trend following. With reference to the phenomenal growth of the energy contracts on the New York Mercantile Exchange, Paul Jones draws attention to the growing participation of hedge funds, and ends with a prediction of still greater trading activity should rates of inflation return to levels of 25 years ago. On a personal note and against the backdrop of 9/11 and lingering terrorist concerns, Paul Jones opens his presentation with a discussion of what he believes is the single greatest danger to residents of New York City and how the danger can be eliminated.

Paul Tudor Jones

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THE RISK OF LOSS IN TRADING COMMODITY CONTRACTS CAN BE SUBSTANTIAL.
YOU SHOULD, THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS
SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. FUTURES AND OPTIONS
TRADING IS NOT SUITABLE FOR EVERYONE.