Interview Central: Peter Reznicek, Part II
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May 15, 2009
Peter Reznicek is the founder and head trader of both RBC Asset Management, a Philadelphia-based asset management firm, and ShadowTrader.net, an advisory firm launched in 2005 that provides daily recommendations and analysis of equities and foreign exchange pairs.
Mr. Reznicek also educates more than 15,000 ShadowTrader.net subscribers each weekend through his free Sunday presentation, the ShadowTrader Video Weekly and also as editor of their flagship publication, the "ShadowTraderPro Focus Report." He has also hosted a popular call-in show on Philadelphia radio, and has had his commentary published on several popular financial websites.
I really enjoyed my recent conversation with Chief Equity Strategist Peter Reznicek about how he manages his trading business. This is the second part of that interview.
Optionetics: Are your trading systems geared more toward long-term strategies or short-term strategies?
Peter: I would say more towards short-term. I use a lot of market internals and other day-trading type tools to gauge intraday market direction which can help to get me in at the perfect inflection point regardless of my timeframe.
Optionetics: What are some of the key rules or factors that you consider before selecting any potential trading opportunity?
Peter: My overall strategy is what I call "top-down" which means that I am analyzing every possible trading opportunity in the broader context of longer term charts, sector action, and what the overall market is doing.
Optionetics: What are your favorite markets to trade and track with your analysis tools?
Peter: I usually stick to the NYSE and Nasdaq issues.
Optionetics: What is your most memorable trade?
Peter: Because I'm not a swing for the fences type trader I honestly can't say that any one stands out more than any other. What I like to concentrate on in terms of looking back at past trades is the losing ones. I tear those apart mercilessly and let them stick in my mind to see if there was something, somewhere, where I did something wrong. Either bad timing, bad stock selection, reading a pattern wrong, whatever. I am a strong believer that you will not learn anything much from winning trades. Those tend to take care of themselves.
Optionetics: With all the different technical as well as fundamental analysis tools out there how does a new trader avoid information overload or "analysis paralysis"?
Peter: By keeping it simple and sticking to just price and volume. Technically we should all be able to trade with just these two pieces of data because everything else is derivative from them.
Optionetics: Thanks, Peter, for speaking about your trading approach with our Optionetics reading audience.
Jeff Neal
Senior Writer, Options Strategist
Optionetics.com ~ Your Options Education Site
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