Jeff Cooper: A Trading Sharpshooter

LEARN FROM GENERALS OF THE MARKETS - PART 43

“Day trading strategies offer a shortcut in order to become profitable much quicker with a proven system.” – Marcello Arrambide

Jeff Cooper (not to be confused with another popular Jeff Cooper who was an American Marine and an expert on the use of small weapons) started trading in 1981 when he worked for his dad (at Drexel Burnham) who was managing funds then. Later, he left his dad to trade independently on his own. Since then, he’s become highly successful in making gains from the unpredictability of the markets. He’s written great books titled: “Hit and Run Trading I,” “Hit and Run Trading II,” “Hit and Run Lessons.” Apart from this, he’s released numerous educative materials for the benefits of beginners and advanced traders.

Lessons

Here are some lessons that can be learned from Jeff Cooper:

1. Jeff fell in love with the art of trading and he was endeared to the markets. Do you love/hate trading? Do you love/hate the markets? What makes you love/hate trading/markets? You can’t make money from what you hate. For you to make it as a trader, you’ve gotten to develop unending love for the markets.

2. There was a battle sharpshooter named Jeff Cooper, and there’s a trading sharpshooter named Jeff Cooper. The former was a US Marine and successful author on the use of small arms. The latter is a successful trader, market analyst, and an author of trading books.

3. Jeff’s dad trained him, although he also garnered trading principles that work from other great names in the trading world – you can see the quote below. You’ve to get imparted knowledge from great traders. This is one of the things that have helped me a lot. As a dad, do you wish that your kid become a great trader?

4. You don’t need to be working in an office before you reach your financial freedom. Jeff trades in the comfort of his home in Malibu, California (overlooking the Pacific Ocean), where he also offers help to many traders the world over via the Internet. Financial freedom is possible thru trading.

5. Day trading, swing trading, position trading and investing can be mastered according to the one that fits your personality. Jeff has mastered day trading and swing trading. In fact, he’s one strategy called “Opening Range Breakouts,” which is a sort of Holy Grail to him. Whatever works for you - coupled with safe risk management – is your Holy Grail. This simply means losses won’t hurt your portfolio and gains would be moderately substantial.

6. Trading since 1981 is no picnic. Serious traders take their career as a journey of a lifetime, not as a short-term stint. There are many types of financial markets that you can choose from.

Conclusion: The way to permanent victory in the markets is totally different than what most people would prefer. It’s not an easy way. However one can realize one’s aims with the right mindset and simple but powerful trading principles. Beginner traders may flinch when told of what it takes to be a successful trader. One thing to note is that the ultimate goals in trading are far more worthwhile than the transitory effort that needs to be made to realize those goals.

This piece is ended by a quote from Jeff:

“…The works of W.D. Gann and Robert Prechter have inspired me more than anyone else. It was from their writings that I discovered cycles, patterns, and psychology dominate the market, and that the news breaks with the cycles, not the other way around.”

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Eye-opening trading lessons: Lessons from Expert Traders

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha