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Success Story of a Technical Trader: Tom Bierovic

Despite his name fading into relative obscurity, Tom Bierovic once garnered attention as a trader and trading system manager. Here are several valuable lessons that can be gleaned from the success story of this genuine technical trader.

Introduction to Tom Bierovic

Tom Bierovic, a prominent trader and trading system manager from Omega Research, Inc., was a frequent speaker at seminars in 35 countries and a contributor to major financial media outlets such as Futures magazine, Futures World News, and Technical Analysis of Stocks and Commodities magazine. He was also known as the author of books on technical analysis, including "The Momentum Retracement Method for Successfully Buying Countertrend" and "Playing for Keeps: Ten Trading Systems That Really Work" (Wiley & Sons 1999), which delve into topics related to trading systems and their development.

Lessons from Tom Bierovic's Success Story

  1. Learning Manual Technical Calculations: Tom Bierovic was introduced to the world of trading futures at a young age due to his involvement with his father, a trader at the Mid America Exchange. Even without the aid of computers, he manually calculated technical indicators such as moving averages, stochastics, RSI, MACD, and ADX. Although this practice may seem outdated now, he emphasized the importance of a strong understanding of basic technical analysis.
  2. Prioritizing Freedom in Making Trading Decisions: Bierovic established clear trading rules, but he placed the highest priority on freedom in making trading decisions. He described himself as a "free trader, with a very specific method," always ready to deviate from established rules if necessary.
  3. Understanding Psychology and Personal Traits: Bierovic emphasized the importance of understanding one's own psychology and personality in trading. He advised beginner traders not to overlook this aspect and to always maintain discipline in implementing established trading rules.

Tom Bierovic's success story as a technical trader offers numerous valuable lessons for traders, whether novice or experienced. A strong understanding of technical analysis, freedom in making trading decisions, and an understanding of trading psychology are key to success in the world of stock trading. Drawing inspiration from Bierovic's experiences, traders can enhance their skills and knowledge to achieve their trading goals.

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