Brian Shannon is a professional trader whose involvement with the market goes back to well over 20 years.
He also wrote the highly acclaimed book, “Technical Analysis Using Multiple Timeframes.” He’s the founder of Alpha Trends, an educational company teaching traders how to successfully navigate the market.
Brian is primarily a swing trader and occasionally day trading. Brian discusses both during the interview and gives listeners advice that might help traders find the right timeframe for their trading.
Brian also goes into the psychology of market participants within well-known patterns as well what Brian uses the most as his two indicators. Brian also walks listeners through the 4 stages of a market cycle.
What’s Covered in This Interview:
- Why traders are their own worst enemy, knowing better but still making poor decisions. Brian gives us tips on what to do if this happens.
- Some of the significant losses and moments in Brian’s career when he wanted to give up trading, including what he learned from all this.
- Why traders need to hold themselves accountable if they want to excel, including not complaining about market behavior and the day’s news.
- Brian’s method to identify possible swing trading opportunities, how he looks at charts using multiple timeframes, and how he bases his decision only on price.
- Why he’s better to understand the psychology of participants within patters rather than just the patterns themselves.
- How Brian uses VWAP (volume weighted average price) to see who is losing or gaining control of stock prices.
- What are the four stages of a market cycle: accumulation, markup, distribution and decline.
- How Brian identifies what happens during each phase of the market cycle and why traders who are clear on the current state should avoid that stock.Links and Resources:
- Technical Analysis Using Multiple Timeframes –Brian’s book can help you understanding market structure and psychology related to price movement.
- AlphaTrends.net – Head over to this website to learn more about Brian.
- @AlphaTrends – Follow Brian on Twitter.
- @AlphaTrends – Follow Brian on StockTwits.
- Infographic – An infographic Brian that can help you to identify the 4 stages of a market cycle.
