Category Archives: Blog

Backup Systems

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We have recently updated some of our technology at Wizard and thought it would be good to share our ideas with you, the systems we have in place if our computers, internet or power fail during the trading day.

If you are an active trader then you will no doubt have been in the rather annoying situation where the internet drops out mid trade and you are frantically trying to call your broker to manage your positions. With the large majority of trading being done through online platforms it has become increasingly important to have backup systems in place to handle just such an event. We have a number of systems in place to deal with failures in the telecoms network and the power supply.

First of all, we installed an APC 1400 va backup power supply. If there is a power cut, our computers, router and a few screens will stay running for about 20 minutes on the battery before turning off. This allows us time to fire up the backup laptops we keep handy and shut down the machine properly. This Un-interuptable Power Supply or UPS cost just over £100 and gives ultimate piece of mind for power cuts, surges or if you are trading at home, the fusebox trips out. Imagine your system going down just at the moment you are about to execute an important position! There is loads of research material online to give you an idea of which size unit to buy, but for a single PC and a couple of monitors we found 1400 va would do the job quite nicely. Remember your not looking for something to keep you running all day, its to protect for the short term until longer term alternatives can be fired up…

The backup laptop we have in place is a fairly inexpensive HP Pavilion, with an AOC-usb powered, 17″ screen to add some extra screen real estate without requiring power. This gives us around 6 hours trading time which is obviously plenty of time to make even more robust arrangements (although we would like to think power outages wouldnt last for 6 hours!). This kit cost under £500 and has proven to be worth its weight in gold, literally!

Having tackled power issues, we then need to look at internet connectivity. At home we have had second phone lines installed with ADSL connections (the main connection being superfast fibre optic), this helps to keep the potential for both supplies failing to a minimum. Obviously they are with different providers and use completely separate circuits. In the office we have gone for an Auto failover router (A Draytech Vigor 2760n) which automatically switches to a 4G dongle connection if the primary internet connection fails. This has proven to be perfectly fast enough for trading ( bearing in mind its low latency we are looking for here and not high data demands). The last resort is that our mobile phones can act as WIFI hotspots using their 4G data connection and transmit this to a wireless receiver plugged into the pc’s. The failover router cost about £120 and the dongle was another £20. We have a subscription to a 4G sim at £5 per month which is more than enough to keep us trading for hours of downtime.

In summary we would have to experience simultaneous failures in the main telecoms lines, and at least 3 mobile service providers before we would be unable to get online. Our opinion is that if that were to happen, we would be preparing for Armageddon and not worrying about our positions in the market! If you leave out having a fully charged laptop sitting in a drawer, for a UPS, failover router and 4G dongle/backup broadband, you are looking at an initial outlay of about £250 and then a monthly cost of somewhere between £5 and £20 per month. If you are serious about trading make sure you implement some backup procedures because its not really a question of IF, rather when you will get a failure of one of these systems. One of our recent trading course delegates, had a loss of his internet connection which cost him nearly £500, we reluctantly pointed out that he would have needed to invest about half this to build a fairly strong resilience to such an event.

If you would like any more information/advice about setting up backup systems, please get in touch with us at info@wizardcapitalmanagement.com

Do you understand short selling?

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With the stock markets making some substantial declines this year already, are you in a position to profit from falling markets?

Our trading courses cover all aspects of financial trading in both FOREX and Indicies and with very limited numbers of retail traders/investors understanding how to go about short selling, make sure you give yourself the edge that sets you apart. We teach techniques to profit from falling markets as well as rising markets which really allows a trader or investor to expand their potential for profits.

We are experiencing a large number of inquiries at the moment probably due to ‘The Big Short’ hitting the screens. As we only train clients who are committed to learning to trade on a one to one basis we suggest reserving your place early to avoid delays! As with any type of financial speculation you should only invest money that you can afford to risk – we will assess a clients financial suitability/situation before offering a course!

Happy New Year

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Markets have had a turbulent start to the year and 2016 is already looking to be quite an exciting ride for traders. After taking the latter part of 2014 and most of 2015 away from the training business and focusing on our fund we are offering courses again in 2016. As always though we are going to be selective about who we work with, if your circumstances mean that you dont have sufficient time or trading capital to really benefit then we will always recommend a re evaluation until circumstances improve. We are not like many of the typical training providers who exist purely to sell courses, we are traders who very occasionally (and for the right client) will take a week away from trading to teach. Its now becoming easier for us to do this as we have been able to automate a number of our trading systems.

Many people looking to start trading dont have anywhere near what we would call a sufficient amount of capital (5-10k that you can comfortably afford to lose) to make a crack at it. Whilst you can make fantastic, compounded annual profits its more about psychology and mind set than the quality of your trading system or method. Conventionally, when we talk about money you can ‘afford’ to lose the reason is to take some of the emotion away from it so that you can make decisions based on data/systems and NOT what feels good. This is a major error that many traders make and one that has to be fixed, of course the root of this is the fear of failure. Unless a trader can address the fear of failure (be that losing money on a single trade or overall failure) they are unlikely to progress. We have seen clients with large incomes who have ‘set aside’ funds that when it comes down to it, they are not prepared to take any risk with. Some of them would have been good traders but the fear of loss prevented them from making any advances.

Our message for the start of the year is to start addressing your fear of failure or any other trading related fears, examine them and explore them. Understand the fear and then work through it because it never goes away. In fact anxiety and fear are really the emotions needed for success, if they arent present then you probably arent pushing yourself enough.

 

Traders: Millions by the minute

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After the BBC Documentary, Traders: Millions by the minute we have seen a massive increase in the number of people contacting us. We are a specialist training provider who teach clients to trade on a one to one basis and therefore are experiencing an usually high volume of interest in our trading courses. We will be in touch with everyone who has contacted us but please bear with us as the workload piles up! We also have to find time to do some trading!!

Extra Summer Discounts Availaible

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As markets are a little quieter than normal at the moment we are offering further discounts on our range of trading courses – speak to us today about reserving your place!

 

Stock Watch – stock market training courses

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This week were focussing our attention on Land Securities group, now we have already been long with them since Jan however they have recently pulled back to the support at 10.28 which is a nice opportunity if you missed out the first time around.

We are looking for them to hold above this level and in time make new highs for the year,however be aware that if they drop back below 10.00 then we will cover the position. As always when we buy at a given level we are looking for confirmation that buyers or indeed sellers if we are going short are stepping in and making things happen. As always if you are interested in learning more then please contact us and follow us on twitter and Facebook

Stock Watch – The Sky is the limit

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This weeks update is BSkyB, they are climbing skyward and are about to trigger an entry at 953p as always when the level breaks, we will be looking for Momentum to confirm that buyers are coming into the market and driving higher prices.

British Land and Betfair from previous weeks are currently stalling, so reducing size in those two and awaiting the next surge in momentum before committing more to the position. Succesful trading is about reading the music of the price action and re acting to it – not just sitting and hoping that prices will go higher. For many other psychological lessons and indeed to understand price action trading, you will need to come on one of our share dealing or forex training courses. As always thanks to Sharescope for the image.

Stock Watch – Share Dealing Made Easy

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This week we are looking at Betfair Group, a buy signal was given to us late Friday afternoon and by the close we had covered our spread and were showing a profit. Despite a slight pull back on Monday and Tuesday the share price has soared today – exactly the kind of momentum we want to see from a new trade and we are holding our stops just below the entry.
Share Trading courses

As always if you want to learn how we select these trades and indeed how you can start making money from share dealing then please contact us. Our 1 day share dealing course gives you all you need to know about selecting and managing your trades.

FOREX Training Courses

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Ok so Forex is getting a lot of publicity at the moment but investors and potential traders should not rule out the idea of starting in the far less volatile equity markets before progressing to FOREX trading. Fortunately here at WCM the method of price action trading we teach in our stock market training courses is exactly the same as what we teach in our FOREX training courses. With a few tweaks a new trader can transfer price action trading techniques to allow him to trade any market. Come and meet us and find out why price action trading is the number one method for generating consistent returns!

Stock Watch – Advanced Notice

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This week we are looking at Dixons Retail Plc, now im sure plenty of fundamentalists will say that they are not worth a look but as I have said many times in the past we are trading only from a technical point of view. Were actually posting this one a little early as its not quite ready to buy. We will be looking to take up a long position above 58p with an initial target of 100p but as always we will allow profits to develop and be impatient if we experience any negative movement in the trade.

Share trading courses

 
As always if you want the full picture and to find out about all the trades that we dont share on the blog then you  need to come and take our share dealing course. One decent trade such as Antofagasta or even British Land from last time will pay for your course! Thanks to Sharescope for the image.

 

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