Joe Marwood is an independent trader and writer specialising in mechanical trading systems. He began his career at a prop trading firm in the UK and now trades with a systematic, research driven approach. He writes at jbmarwood.com.
Joe got in touch to take our Desert Island Trades challenge, no doubt inspired by some of the traders who've already revealed their tactics for trading their way off our metaphorical island. So far we've featured fellow traders Houston Truong, Aaron Fifield, Siam Kidd and Rayner Teo - check out their entries and plenty more right below.
To read all of our Desert Island Trades so far, click here. And if you want to give it a try yourself, do get in touch!
Desert Island Trades: Your Challenge
You've been dumped on a desert and desolate island, and the only way to get off is to make enough money trading to buy a ride from a ruthless local fisherman. You’ve got $500 in your account and you must trade your way to the fisherman’s going rate of $10,000 to get aboard his trawler. You will have only a laptop and a working link to your broker.
Should you fail, the fisherman will cut your connection and you'll never trade again, marooned and doomed... To help you, you can choose the following:
- 1 trading book
- 1 trading movie/documentary
- 1 source of news
- 1 twitter account to follow
- 1 quote to inspire you
- 1 trading platform
- 1 instrument/market to trade
- 1 luxury item
- 1 phone call for advice
It has to be Reminiscences of a Stock Operator. Not only does the book contain all that classic trading wisdom but it's a great read. That will help pass the time when stuck on a desert island.
My movie choice would be the original Wall Street with Gordon Gekko. Unfortunately, no finance movie has ever come close.
If I can choose any I'll go with Bloomberg.
Steve Burns constantly tweets out motivational wisdom, trading tips and useful pieces of news so I will say Steve @SJosephBurns
If you want to be tougher mentally it's simple: be tougher. Don't meditate on itJocko Willink
Tip: replace 'mental toughness' with anything you like.
Bloomberg terminal. May as well have the best!
I'll go with the US 10 year. Short rallies every day, what can go wrong?
A year's supply of booze. For consumption only when the market is closed... obviously.
Tricky one... For advice, I would call myself from five years ago and then I would do the opposite...
Follow JB Marwood on Twitter at @marwoodjb