A fan of the judgmental trading, John Hill is a 91 year old trader that still finds passion in trading.
Currently the President and founder of Futures Truth magazine, Jonh has a degree in chemical engineering and has traded for a living for many decades.
According to John, the biggest element in trading is to master fear and greed. To this day, he is still tested!
In the show John shares:
- 3 steps you can take to start trading profitably
- Why risk control is everything in trading
- His risk-reward ratio approach
- What a Yumm-Yumm, Upthrust and Spring means when you trade
- The 5 markets he currently trades
- The time frames he relies upon when trading
The Ultimate Trading Guide by John R. Hill
Broker & Platform
- Find your trading comfort level, or fear and greed will get you
- Look at chart patterns and try to figure out what they’re telling you
- Learn about pullbacks
- The hardest thing in the world is to take profits
- Don’t look at the news, look at the charts
- 60% return in a year is a good outcome
- Keep risk under control
- A computer cannot see what the human eye can see
- Beware of gurus
- John takes two/three trades/day/market
- He actively trades gold, sometimes silver, S&P500, Bonds, Soybean
- Risks $150-$200 per trade
- If profit goes north of $500, he tightens the stop
- Uses candlestick patterns: doji, hammer, inside bar
- Starts with weekly and daily charts and takes entries on 30 min and 15 min time frames
- He’s a student of Whyckoff
- Uses springs and upthrusts
John’s Strategy of the Week
By piecing things together from the show, here’s the “Strategy of the Week” we could conjure up form the interview (you may have taken away different things):
- On the daily chart, build a channel made of 10-day MA and 7-day EMA
- 85% of the time price is above/below this channel
- Look for doji candles, hammers, inside bars as entries
- Stop loss at the low of the candle
- Don’t risk more than $300
- 3 candles in your favor, take profit
There’s a lot to John’s strategy, so much so that I thought it was better if we used a couple of his marked up charts to demonstrate how he approaches the market.
Please leave a comment below if you found a way to trade using John’s methods described on the show and shown below.
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