Ray Barros Ray Wave
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By Ray Barros Kindle Edition. $56.79 $ 56 79. $67.26 $ 67 26 $109.00 Only 2 left in stock (more on the way). ( 9 ) More Information Are you an author? Visit Author Central to change your photo, edit your biography, and more See Author Pages Frequently Asked Questions. Anything else? Provide feedback about. Ray is widely recognized for having developed a new and unique theory of market structure that simplifies Elliott Waves and provides a clearer road map of how a market structure is likely to unfold. He uses his simplified “Ray Wave” and “Barros Swing” to trade the markets along with Peter Steidlmayer’s Market Profile zones that we will introduce in detail during a later interview.
. He is a successful trader and a teacher, intensively sharing his methods with students. Indeed, he only mentors a small number of students at one time to ensure hands-on skills-building. His Trading Success Blog covers a wide range of topics, including exit strategies, psychology, and buy/sell zones.Now we have a new book from Ray, entitled The Nature of Trends. He made it clear in his introduction that one goal that has yet eluded him is the leaving of a legacy. By sharing many of his methods and ways of viewing markets, Ray takes a large step toward that goal.
Ray's book begins with a definition of trends and an emphasis upon the importance of understanding trending and non-trending on multiple time frames. His understanding is grounded in Market Profile, but includes an extensive discussion of chart and wave patterns. In this, his methods are highly visual. He uses diagrams and chart/examples to illustrate his points, as he moves from trends to discussions of trend changes and the impact of time frames.
Later in the text, Ray presents his ideas on entries and trade management, followed by risk management and trading psychology. He concludes with a section on swing patterns, which clearly is his love as a teacher and trader. I particularly like the structured questions that he lays out as a template for studying markets and enhancing one's learning curve.
I found Ray's book to be well-written and very well organized, but I can't say it's a casual read. Many of the patterns involved careful labeling and understanding within the context of the previous material. My sense is that such an approach requires considerable market observation and study, so that these patterns can stand out clearly. Their advantage is that they help organize traders' thoughts regarding trending and rangebound markets at specific, well-defined time frames. In short, this is a book to be studied, not skimmed. Those who know me well will know that this is a compliment, as well as a warning to grail-seekers.
I believe this book is of greatest potential benefit for those who trade visual/chart patterns and who wish to greatly tighten and structure their trade selection and management. While Ray's presentation is not statistical, it is far more systematic than most presentations of chart-based trading. It helps a trader turn pattern recognition into trading rules, and that aids discipline and consistency.
And, by the way, if you're interested in book reviews, the Value Blog Review has some excellent ones. I receive many, many books from publishers and authors for review purposes and will be passing along thoughts about my favorites from time to time. (Disclaimer: I do not accept promotional consideration or compensation from any authors or publishers with respect to anything mentioned or reviewed herein.)
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Book Review: Markets in Profile
.(Last Updated On: April 10, 2019)
TRADER PROFILE:
Today’s guest, Ray Barros, is a veteran trader and retired hedge fund manager whose trading journey is definitely worth turning into a biography book. Despite owning a profitable legal practice in his early days as a lawyer, he abruptly sold the practice in 1980 and dived full-on into trading within knowing what he was really doing.
Over the subsequent 6 years, he blew up his account on multiple occasions and lost a total of AUD 750,000 during that period. Somehow, he persevered through the entire ordeal and finally saw the light at the end of his tunnel when he registered his first profitable year of trading in 1987 and did not look back since.
In 1990, he started his hedge fund with AUD 20m of investor money and traded it to nearly a billion dollars over the next 20 years. In Dec 2010, Ray registered the most profitable year of his career and as usual, decided to abruptly end his hedge fund career on a high, by returning about 943m dollars back to his investors.
Since then, he went into a semi-retirement mode. Instead of making more money than he can spend, he decided to turn his attention towards paying it forward by starting a trading school to coach and mentor budding traders.
With almost 40 years of both painful and glorious trading experiences under his belt, I’m sure we’ll all be able to learn and get inspiration from his story.
SHOW NOTES:
[00:03:38] Ray explains why he shut his legal practice in 1980 to become a full-time trader.
[00:06:03] Ray details his first six years of unprofitable trading as a full-time trader.
[00:10:07] Ray explains how a trader can get support from the spouse when embarking on the initial difficult phase of the trading journey.
[00:14:18] Ray talks about the key factors that helped him persist through the initial 6 years of unprofitable full-time trading experiences.
[00:17:52] Ray recalls the year 1987 when he finally had his first full year of profitability.
[00:21:41] Ray shares how his broker helped him got started in his fund management career.
[00:28:05] Ray discusses about the important things to watch out for when managing money for family and friends.
[00:29:51] Ray talks about his trading strategy as his funds grew from millions of dollars to hundreds of millions of dollars.
[00:31:36] Ray illustrates the trading horizon of his winning and losing trades.
[00:34:20] Ray details how he overcame a 3 year draw-down period in which his fund nearly closed down.
[00:44:24] Ray explains how he managed to end on a high note for his fund management career with his final year registering a triple digit profitability.
[00:46:49] Ray shares how he manages his exits to maximise his returns.
[00:51:03] Ray talks about his experiences starting a trading school after he retired from fund management.
[00:57:29] Ray concludes with the trading best practices he would have implemented if he had an opportunity to start all over again at the start of his 40 years trading career.
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