How Peter De Neve uses his technical skills to trade stocks and build financial freedom

Peter De Neve

IT Manager

David Solomon, CEO of Goldman Sachs recently revealed that the giant investment bank he heads is recruiting thousands of engineers in an ongoing effort to keep up with advances in technology and today's rapidly changing business climate.

Solomon is quoted as saying that his bank has hired over 9,000 engineers to ensure that the company stays at the cutting edge of modern banking. 

With just over 36,000 employees, the 9,000+ computer engineers Goldman Sachs has hired represent about 25 percent of its current workforce.

"Ours is a business of information... pattern recognition and historical context are important," Solomon explained, saying that it's important to the company's success that it continues to hire about 2,000 people fresh out of school each year."

Member Profile:

Peter De Neve is an IT manager living in Belgium. He became a stock trader because he likes working with charts and technical trading. His goal is to build a future with more financial freedom, so he and his loved ones can do more of the things that matter most.

Location:

Belgium

Occupation:

IT Manager

Top Programs:

Total Alpha

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Why Having a Background in Engineering, Math or Technology Can Give You An Unfair Advantage

Here at RagingBull, we're already noticing the effects of this growing trend. It seems like every day, more and more people with backgrounds in engineering, math, and technology are signing up for our services.

A good example of this kind of trader is Peter De Neve of Belgium. With a strong background in engineering and information technology, Peter was naturally attracted to the analytical side of stock trading.

"I wanted to get involved in trading because I like working with charts and technical trading on one hand while building a future with more financial freedom," says Peter.

Of course, people from all walks of life are becoming successful traders, but those like Peter who have training in math, engineering, and technology tend to have a natural affinity for the research, analysis and charting required to become great traders.

"I can't be a day trader, so I was looking for trading activities with a 1 to 2 week time horizon. And since I'm trading with a small account, I was also looking for a stock options based program which could provide me with sufficient leverage to grow my account."

Peter De Neve

IT Manager

Searching For Opportunities With The Right Time Horizon

One of the most important variables traders should consider is their "time horizon". Essentially, this is the period of time over which a position is held before it gets sold.

A day trader's time horizon can be as short as a few seconds, while a person who is investing for retirement could hold a stock for decades.  Time horizons are typically driven more by a trader's needs and financial goals than anything else. Of course, changing market conditions could also affect the amount of time you hold a position.

In Peter De Neve's case, although he would like to dedicate more time to trading, his career currently demands the lion's share of his attention.

"I can't be a day trader, so I was looking for trading activities with a 1 to 2 week time horizon. And since I'm trading with a small account, I was also looking for a stock options based program which could provide me with sufficient leverage to grow my account," he says.

This is one of the main reasons Peter joined Total Alpha. By applying his analytical skills, while sticking to WMM's proven trading system, Peter is already seeing positive results.

"Based on the techniques I've learned from Jeff Bishop, I decided to buy to open 8/31 ABBV 94 calls a few days ago based on SMA200 hourly support. My stop loss was obvious (break below SMA200). I am currently at +75% gains."

"Now I'm considering selling half and letting the other half follow the trend (SMA13 above the SMA30 hourly) as long as it holds," explains Peter.

How Practicing Patience Helps You Win More Often

Most people have heard the old saying, "Patience is a virtue". Well, this is especially true when it comes to trading and investing in the stock market. 

Unfortunately, many beginners let their emotions get the best of them. Consequently, they lose money when they buy or sell positions too soon.

A key principle Peter said he has learned is, "Start with small position sizes on stock options and be patient to select the right entry level. Stock options can be extremely volatile, so dare to take a loss if the trade does not work out according to the plan".

"Based on the techniques I've learned from Jeff Bishop, I decided to buy to open 8/31 ABBV 94 calls a few days ago based on SMA200 hourly support. My stop loss was obvious (break below SMA200). I am currently at +75% gains."

Peter De Neve

IT Manager

Skills Shared By Engineers And Winning Stock Traders

As an engineer, Peter knows how to read charts. And if any stock trader wants to be successful, he or she needs to get good at reading charts too. This skill helps a trader spot emerging trends and profitable opportunities.

Staying on top of the economic and political news is also important. By paying attention to credible information sources, traders can take advantage of key economic news as soon as it breaks, and adjust their positions accordingly.

Nowadays, more than ever, active traders can gain access to key data that was once reserved exclusively for large institutional investors. The challenge is that now there's so much financial information available, traders need be highly focused so they can hone in on actionable data that can have an impact on their trading positions.

Many successful traders choose to focus on a specific sector, industry or type of stock. By focusing their time, attention and other resources they can gain a competitive advantage over less-specialized traders.

Emotional control is a crucial skill that goes hand in hand with focus. Highly successful traders constantly cultivate the ability to control their emotions while sticking to a well-planned trading strategy.

A combination of analytical skills, focus, and emotional intelligence will consistently pay big dividends when it comes to managing risk using stop losses, and when you are taking profits at set points.

This is why Jeff Bishop and his team at Total Alpha work hard to make sure members learn and practice these key skills on a consistent basis until they become second nature.

"Start with small position sizes on stock options and be patient to select the right entry level. Stock options can be extremely volatile, so dare to take a loss if the trade does not work out according to the plan."

Peter De Neve

IT Manager

Peter De Neve

IT Manager

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