Posted On: 2006-08-28
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Hello and welcome to on-demand radio with The Market Guys. I'm AJ Monte. Today we have the founders of Trade Smart trading clubs, which are headquartered in central London. Peter Storey and Tom Brown have put together a very dynamic and interesting concept in getting people together to learn about how to trade the U.S. Markets. Welcome gentlemen, how are you?
Hi, AJ. Thanks very much for having us on the show.
Hi there AJ, it's a pleasure to be here.
Good to have you. Now let's start with Tom. Tom, you go back a little bit here as a trader yourself. You're an avid option trader. Tell us a little bit about the concept behind Trade Smart and what your goals are for the global expansion in setting up these organizations.
Well we'll have to take that one at a time, I think. First of all with Trade Smart, the purpose of Trade Smart and the trade smart clubs is to get people together who are willing and wanting to learn how to trade stocks in the U.S. markets. One of the things my own experience taught me while learning is that if you have a support group it makes it a lot easier, and it's a great way of sharing ideas and concepts, and basically testing people as well, so it really keeps the motivation going for yourself.
Now Peter, going to you now, we are obviously going to see explosive growth thanks to eTrade being our partner and promoting the clubs throughout Europe and the rest of the world, particularly Asia. What are your expectations and how do you see such a large financial institution contributing to the educational portion of your business plan.
Well, AJ, it sort of goes back to when we were learning. We'd been all the courses, read all the books, and the thing that we really battled with was turning the theory into action. And it's fantastic that we've got support like eTrade in helping us, and generate the clubs and promote us and partnering up with us. Because the real crux of trading is actually putting what you've learned into action and turning that into profitable action, and that's really why we started up Trade Smart clubs, is in our own experience, we spent three months every weekend getting together with a small group and learning the ins and outs of putting theory into action, and that's exactly what we're trying to do with Trade Smart is provide that opportunity to as many people as possible. And we've set up a framework and a structure for us to be able to do that.
Well I think, you know, that's where a lot of people go wrong from the very beginning, is that they get all this great information, they buy all the books, the tapes, the CDs whatever it may be, and when it comes time to placing the trade, they're now feeling, I would say fairly isolated and alone at that particular point because the fear comes in and now doubt starts to creep in and before you know it you're not placing the trade and you've missed the opportunity altogether. So, I see immediately in what you're doing is you're bringing people together, number one to build the confidence level up, but also to reinforce the risk management disciplines of...