Two days to go: Buy your tickets to City PM’s trading conference
Q What is your trading background?
A I studied economics and maths at university, and then worked in the research department of Australia’s Central Bank. I moved into investment banking, initially running a derivatives desk. I learned about macro-trading and headed a proprietary trading operation. In the mid-1990s, I ran a hedge fund in Bermuda and was likely the world’s highest-paid hedge fund manager.
Q What are you covering in your session at City PM’s trading conference on 24 May?
A The topics I’ve written about in my book, Taming the Lion. It educates people in techniques which can operate in different trading environments. I’ll talk about trading ideas, and managing the entry, holding, and exit of a position.
Q Why is this important for traders?
A Most amateur traders make very basic mistakes. They don’t always know where to get their ideas from. They don’t analyse their wins and losses correctly. And they don’t understand the effect of psychology on the market. On top of that, they’re often not very disciplined.
Q What is the most important lesson to learn as a trader?
A You learn your lessons from your mistakes. I’ve learned to “fear” the market, to treat it with respect. I’m influenced by the power of big ideas and the concept that markets go further than expected.
Q What are the most important tools a trader needs to have?
A A professional approach to trading, a way of assessing the value of his or her ideas and assessing performance over a time period. It’s important to look for some comparative advantage and be aware of strengths and weaknesses.
Q What is the worst mistake a trader can make?
A To think it’s too easy, that the market has missed something that is actually well-known or irrelevant. Markets operate as a supercomputer and process a huge amount of information, in a manner far better than humans are capable.
Q Why are you excited to be taking part in City PM’s trading conference?
A I enjoy talking about risk-taking and discussing a scientific process to a difficult subject. People with an interest in trading are often an interesting bunch of people.
To meet dozens of trading gurus like these, buy a ticket for Active Trader on 24 May:
www.cityamactivetrader.com
Or call: 020 3201 8900
RICHARD FARLEIGH
9.00am-10.00am, 24 May
Richard Farleigh was born into poverty in the Australian outback as one of 11 children. He was fostered at an early age. Farleigh studied economics and maths before managing a derivatives desk, a proprietary trading desk, and a hedge fund in the 1980s and early 90s. His focus was on predicting big picture trends and these trends’ effects on currency and interest rate markets. Since the mid-1990s, Farleigh has operated as a “business angel” and he has backed more early-stage companies than anyone else in the United Kingdom, and his appearances on the BBC’s Dragons’ Den have earned him the moniker “Mr Nice”. Farleigh is also a Chess Master and he has competed at two Chess Olympics.
Follow him on Twitter: @FarleighRichard