Case Study

Nathan Crowson Review

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Nathan Crowson works in IT and trades ASX shares and Contracts for Difference (CFDs). He lives on the Central Coast NSW. Nathan has been trading part-time for two years and prior to that he was an investor for 5 years.

How and when did you first become interested in the markets?

Image of Nathan Crowson in San Fransico

When I was at school, I signed up to the share market game, but never really looked at studying this area to make money. Much later, a good friend told me he was studying a course to learn to trade with Wealth Within and that was the first time I realized that I could study technical analysis and learn how to trade. I have always liked problem solving and studying graphs, so it felt natural for me to study price charts.

And then what happened?

Prior to studying, Dad got me into investment property, and I decided that the share market would allow me to diversify my investments.

I know a lot of people get into the share market because they are concerned about whether they will have enough for retirement, but I just enjoyed investing and for me getting into the share market was the next logical step.

Once I found out my mate was studying a course that actually teaches you to share trade, I signed up. Money wasn’t even a question, I had always wanted to learn and educate myself. My mate was about 6 months ahead of me in his studies, which didn’t matter. It was just good to finally learn how to trade, understand the analysis, and the theory. Having a friend to discuss it with was all the more enjoyable.

How have you been able to learn and educate yourself about the markets?

The opportunity came when I made the decision to study the  Diploma of Share Trading and Investment. I enjoyed this course so much that I went on to complete the Advanced Trading Strategies Course, and then a third course, the Forex and CFD Trading Course, that teaches you strategies to trade leveraged markets for income. I decided if I wanted to do this seriously, the more I was able to learn the better trader I would become. The timing analysis was one of the main reasons I chose to study the Advanced Course. Looking back, I wish I had done this when I first learnt about the market in year 10.

I live on the North Coast of NSW and choose to commute to work by train. It takes me about one and a half hours each way, so I have plenty of time to study even though the train is not the ideal place to do it. However, it did allow me to make good use of the time.

Did you make mistakes when first starting out?

Definitely. For me it was about patience, and I can be very impatient. Doing the study has given me the knowledge I need and has shown me the importance of patience. I find I still want to be in the market but having rules has helped me a lot.

I’ve had some success and I’m still learning that patience is going to be the key to my success. As part of the training I learnt a lot about psychology. The course taught me to look at myself and what I am doing. Technically I’m doing well, I’ve got the knowledge and I know if I want to achieve excellent results all I need to do is follow what I’ve been taught and change my thought process.

Would you define yourself as a discretionary trader, a mechanical trader or a combination of both?

At this stage I’m more mechanical in my approach. Having studied the Advanced Course and Contracts for Difference, I’m becoming more flexible. Having studied and applied myself to trading faster moving markets using leverage like CFDs has also taught me how you need to have solid rules as the trades can move quickly, and psychologically things move quickly as well.

Who have been some of your mentors and role models? What impact have these people made you personally as well as on your trading style?

Dale Gillham and Janine Cox at Wealth Within as I was able to share my thoughts about trading. Technically this has helped me feel really good about the analysis I am able to do. I am now planning to re-subscribe to their trading support services so that I can take trading to the next level and really master it.

Can you give us a brief overview of your trading style?

My approach is to first focus on looking for patterns and repetition on the charts to select stocks to trade. I can be quite aggressive when looking for positions, more so than say someone who prefers to sit out. I know now the importance of balance – I enjoy looking at stocks and being involved. There are always opportunities.

Is there any one trade (win or loss) that had a profound effect on your development as a trader? If so, what did you learn from the trade?

One of the first trades I took was based on using a technique I learnt called Dow Theory and the stock was Bluescope (BSL) on the ASX. It was a simple trade. I used my rules to enter and exit and I felt really good and empowered. I could see myself making money and achieving my goals. This reinforced to me that it is possible to make a lot of money from the market.

Can you tell us about your best and worst trades?

Thinking back, it was Sevenwest that went the other way. The price went down, and this was in the early days when I was still learning. When I looked at the chart, I thought it would go back up. I know I should have had my stop in place, but I had convinced myself that it was just one of those trades that would come up again. It didn’t, and this was a big lesson on trading psychology and how important it is when trading. I can now refer to my psychology rules to keep focused. This is where the study is important as I have the knowledge to correct my mistakes.

Would you classify yourself as a short-term or a long-term trader? What advice would you offer to people getting started as traders on the relative merits or otherwise of each?

I am more of a short to medium-term trader but want to trade longer term as well as shorter term trades to be involved in the market. Short term trading keeps me interested.

What markets do you trade, and which markets do you prefer? Do you have a favorite, and why?

I trade stocks on the ASX and CFDs. CFDs are my favorite to trade as they are faster moving. The pace can be a bit like what I do in my current role where you have to think quickly.

What makes your trading style different from others? What sets you apart from other traders?

I guess I’d prefer not to speak for other traders who may not know stuff, however, I’d have to say my enjoyment for trading. The big one is I understand the importance of getting a proper education. I will admit I have some nerd tendencies. I really enjoy learning and analyzing stocks.

My impression of one of the key differences is that I take the time to fix the problems in my trading rather than spinning the same wheel over and over and hoping my results will improve. Instead I am constantly looking at my trading and how I can use what I know to improve it.

Do you have a favorite trading rule?

Recently my favorite rule has been counter trends. I just like watching as price moves in the opposite direction and then you try to catch it as it turns back up. It is about timing the entry and exit well and understanding how the stock moves. I’ll admit I have neglected candlesticks lately and want to get back into this aspect of the analysis. There are many techniques I can draw on and I forgot about them for a while as I focused on learning to use many different techniques.

Ed Seykota says, “Everybody gets what they want from the markets.” What do you ‘get’ from the markets?

I get satisfaction when I have a successful trade, and this gives me confidence. It is important to be confident when trading and to know that I can make money on my own terms.

How has trading affected your lifestyle?

Probably not too much at this stage as it is rather early on for me. I am still building my skills in the market. What I have done so far has given me the confidence and I can see my lifestyle changing for the better. It’s a great feeling to know what is possible. My plan has been to make more money so that I know I can pay the bills from my trading, retire early and focus on something I want to spend more time doing, which is to play sport and travel.

What books, seminars and courses have you read or attended and which would you recommend?

If you want to get started or to take control of your trading, I would definitely recommend Wealth Within’s Diploma of Share Trading and Investment, and I would say keep going and do the Advanced Strategies Course and the Forex and CFD Course.

For those just starting out read Dale Gillham’s book called Accelerate Your Wealth, it’s a good read.

What does the future hold for you?

It’s really bright. I’m looking forward to a successful 2020 trading. I haven’t looked much beyond 2020 just recently, as this year is about a new start for me. I am revising my goals. I have always said I would make $1 million before I’m 35 and I’m still aiming for it. The future holds more holidays. I want to go to Egypt and do more sport.

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