Interview | JUN 2006
Interview: Chuck Dukas Of TRENDadvisor.com by Jayanthi Gopalakrishnan
Stocks & Commodities V. 24:6 (62-66): Interview: Chuck Dukas Of TRENDadvisor.com by Jayanthi Gopalakrishnan Chuck Dukas is principal in a hedge fund and president of TRENDadvisor.com, a website that provides trading recommendations and educational and training services to better equip the trader to understand the markets and prepare traders to trade independently. He is the author of The TRENDadvisor Guide To Breakthrough Profits: A Proven System For Building Wealth In The Financial Markets, which is a comprehensive guide to trend analysis and how it relates to trading and investing plans, published by John Wiley & Sons. This interview combined phone and email questions and answers, starting on April 10, 2006, conducted by STOCKS & COMMODITIES Editor Jayanthi Gopalakrishnan. Q: Chuck, how did you get interested in trading? A: From the time I pursued graduate work in finance in the early 1980s, I spent every moment could working on technical analysis. I spent endless hours and years developing and testing algorithms. I was looking for the holy grail of trading. I know now it exists, but not as a trading system. It lies within us. The holy grail really is the discipline to follow a plan or methodology. From that I developed the diamond analysis, which was a result of my desire to develop a system with repeatable success for any skill level. Soon I realized I had to record the methodology, which is why I wrote the book. Q: What, in your opinion, are the most important decisions any trader has make before placing a trade? A: There are some questions you have answer before you place any trade. The questions are: 1. Do you have a plan for that trade? 2. Will the trade be a long-term trade or swing trade? 3. Will your stop be a hard stop or a mental one? 4. What would the trade look like if it fails? 5. If you’re going long, do you have a first objective where you will harvest a portion of the profit? 6. Think of a trader as being a builder of a home. Would that builder construct that home without a set of plans? Success comes with a blueprint, and the more times you duplicate that design, the more dependable the outcome.
by Jayanthi Gopalakrishnan
Technical Analysis of STOCKS & COMMODITIES
The Traders’ Magazine since 1982
has had over 1,226,237 subscribers from 174 different countries.
37,000 Page Traders’ Archive for $89.99
To continue reading, sign-up for trial access to Traders.com and the S&C Archive — 37,000 pages of trading ideas!
After verifying your email address, you will have limited access to the S&C Archive, as well as access to a Digital Edition of S&C, and access to Traders.com Advantage and Working Money for 30 days.
Not a subscriber to Technical Analysis of
STOCKS & COMMODITIES magazine?
Click
here to subscribe, or request
a trial subscription.
Log-in now to view articles from the S&C Archive.
Your Subscriber ID is located at the top of your magazine label, highlighted here in red.
Your last name can be found on the second line, highlighted here in blue.
*If you have a company name on the label, that can also be used. It will appear below your name on the label.
If you do not have a Subscriber ID on your label, you can find it on your statement or renewal form.
For help locating your Subscriber ID number, please call us at 1-800-832-4642 or send an email to Survey@Traders.com. If sending an email, please include your name and mailing address.