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Greg Tolpigin’s advice to level up your trading game

If you’re working to improve your trading skills, Greg Tolpigin, Head of Proprietary Trading at Gleneagle Securities, has one piece of overarching advice:
If you’re working to improve your trading skills, Greg Tolpigin, Head of Proprietary Trading at Gleneagle Securities, has one piece of overarching advice: You can only control what you can control.  “We can’t control markets. We can’t control market direction. What we can control is what we buy, what we sell, how much we buy, and when we buy,” said Greg when speaking alongside Reach Markets managing director Patrick Nelson at the Trading 360 summit. How do you build the skills to instinctively know when and what to buy and sell? It comes down to committing to the craft of trading.  Here are some nuggets of wisdom from Greg, a professional trader with over 25 years of experience.   To be a successful trader, you do need to be curious While you don’t need to go through years of formal education to become a successful trader, it’s important to have a wide understanding and knowledge of as many different industries, markets, and asset classes as possible. “I would dare say that the most successful thing that I’ve used as a trader is psychology. I’ve made more money out of understanding market psychology than anything else,” said Greg.   Keep track of your investment ideas As you think more about what the markets are doing, find which relationships, industries and asset classes are driving the movements. From there, you can start to think up some potential investment ideas. Greg suggests having a place to file away these ideas so you can go back to them and continue to flesh them out.   Learn by watching and doing Trial and error plays a massive role in improving your trading game.  “One of the lucky things that I had as a career very early on was being left alone in a dealing room to just trial and error a lot of different market theories.” It pays if you can watch and learn from the errors of others.   
“Every trader has weaknesses. I would take some of the good aspects of the traders and tools that they use. I then also began to quickly realise where they would make mistakes and see if there were ways that I could counteract that in my own things,” said Greg.
  Look for momentum in your trades “I always look for momentum whenever I make a trade because if I’m investing one dollar, that dollar is at risk. I want reward for that risk really immediately,” said Greg. In order to spot momentum, Greg suggests keeping track of any stock that makes a new monthly high.  
“One of the key aspects between stocks that make a new monthly high is, you will never, ever miss a stock that goes on a massive run. Not a single one, because, by definition, for a stock to double, triple, quadruple, it has to make a new monthly high at some point.
  This article summarises some of the information Greg Tolpigin and Patrick Nelson shared during last week’s ‘The Trading 360 Summit.’ You can watch a full recording below, or you can click here to book into our final session on the 14th of April. Wrapping up the March 2021 Trading 360 Summit, Ivan Tchourilov from one of the busiest option trade desks in Australia, will be showcasing the most successful strategies seen in the ASX Options Game, and our panel of professionals will be answering any questions from the floor.   The Trading 360 Summit –Winning Formulas For Success Date: Wednesday, 14th April Time: 7pm AEST Format: Online, 60 minute presentation + Q&A This is a free event. Click here to book your spot. Past performance is not a reliable indicator of future performance. Reach does not assume responsibility for the accuracy or completeness of any information provided, and the views expressed are not reflective of Reach Markets position.  Any advice contained within this presentation is general advice and does not consider your personal circumstance, you should consider whether it’s appropriate for you. The information we are giving you is for educational purposes only. “Investing is about understanding your risk” and every time you invest in the share market there is a risk of loss. Trading options is not suitable for everyone. There is a risk that you can lose more than the value of a trade or its underlying assets. You should only trade if you are confident that you fully understand what you are doing. If you are thinking about acquiring a financial product, you should consult our Financial Services Guide (FSG) at www.reachmarkets.com.au first.   

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