Joe Di Napoli

Jo DiNapoli – a professional trader, the company president “Coast Investment Software, Inc.” Though his methods are applicable on all time scales and in all liquid markets, DiNapoli most prefer intraday trading on stock market indices. He began to sell them since he was introduced the S & P in 1982.

Joe DiNapoli – a professional trader and trading veteran with more than 35 years of market experience. He is also a tenacious researcher, an internationally recognized lecturer and well-known author. His formal education is associated with the electrical engineering and economics. His informal education was in the bunker, the so-called place of trade, a full complement of electronics and communications equipment, where most of the early studies began Joe. Trader Joe’s – so he signed the letter and the so-called by his friends and students who are working in many different countries and different markets.

Exhaustive research Joe DiNapoli Displaced Moving Averages, the creation of its own predicts the oscillator, and in particular, his practical and unique method of applying Fibonacci ratios to the price axis, makes him today one of the most eminent experts. DiNapoli taught his techniques in the major financial capitals of Europe and Asia, as well as in the United States. Only in 1996, Joe DiNapoli taught his techniques to the audience more than 23 financial centers around the globe. His articles have appeared in various publications on technical analysis in various countries around the world. Joe DiNapoli has co-authored the book “The tops of futures trading, the lessons of the masters” in 1990, which was recognized book of the year. His most significant work to date is the book “Trading with DiNapoli levels”, which became the standard for students of Fibonacci trading techniques.

Chuck Lobe ( “Technical Traders Bulletin”) asked its readers the names of successful traders, whom they would most like to interview, the name Joe DiNapoli sounded most. Joe DiNapoli – one of the most popular professional traders America. This has been helped not only by its accurate statements, but accurate predictions of the market, especially with regard to stock market indices and interest rate futures, as well as the author developments DiNapoli. Similarly, “Atlanta Constitution” cited work DiNapoli, referring to the “magic power” of Fibonacci ratios in the market, Joe has used this magic time and again on national television to make the stunning and amazingly accurate market forecasts, especially for stock market indexes and interest rates futures.

As president of the company “Coast Investment Software Inc.”, Located in Sarasota, Fla., Joe DiNapoli continues to develop “precision” trading methods, using combinations of leading and lagging indicators of unique and innovative ways. He holds a limited number of private training programs each year at his trading room and he also makes his trading methods available to others through the software and training materials on trade. Nevertheless, some trading methods DiNapoli, as he claims in his book “Trading with DiNapoli levels” – does not lend itself to programming. This book became a bestseller in the United States. In Moscow, his workshop was attended by about 200 people. When asked Joe DiNapoli write an article on its methods of analysis, he responded from Hong Kong, where he spent the next seminar:

“My method works well not only on the futures, but also in the currency markets. I hope soon again to visit your wonderful and unique country. Admission, which I had in Moscow, and the interest and an incredible thirst for knowledge, which I saw the traders in Russia, were simply stunning. I would like to think that this was a reaction to the methods of trade, that I was trying to convey. Perhaps this is due to the precision designed by me and, I believe, the advanced techniques of trade on the use of Fibonacci levels, predestination, points of entry, stop placement and removal of target levels of profit. In many countries, I asked about the rights to reprint the book, but – thanks largely to the interest that Russian traders – Russian translation to this day only. I hope that my article in the journal “Currency speculators” will enhance your competence in the technical analysis, so necessary in difficult and volatile markets, which now has to work a modern trader.

If the article would be insufficient, but the interest continues – then read the book. If that is not enough, come to the seminar, I look forward to in March 2002 to hold it in Moscow. ”

Joe, what role in your trading is psychology? Was it that you lose control of their trade? What advice in this case you can give novice traders?

Without proper psychological training can be a successful trader. You ask if I did mistakes, losing control of himself. Of course, yes! I like to repeat one of the definitions of a professional trader – a person who makes fewer mistakes than a novice. The success or failure in any particular trade, I define not largest of the revenue, but by how well a trader follows his trading plan. This means that you can spend a few losing trades, yet have quite a happy result of trades. This approach allows you to bring the final result to win. That is why a beginner, spend their time hoping to learn how to trade, and turns into a professional trader. Is always possible to achieve profitable results, if used carefully developed trading plan. But never be able to achieve consistently profitable results without self-discipline and follow a trading plan. I would advise all novice traders to learn to understand the difference between the informed speculation and gambling. The well-informed speculator always after some time, selects money from the player. Always and in all times! Those who do not understand, I will say it again: always!

Today many talk about deytreydinge. How do you feel about him? And to what extent is reasonable to start trading?

Deytreyding much more complicated than position trading. It “compresses” the time for decision making. Traders, who can not use a detailed trading plan, under conditions of stress are beginning to make mistakes. Such tactics lead to disaster. With sufficient experience and correct tools, I must stress that these tools provide a highly profitable results. However, I would advise new traders first learn to make a profit on the closure of the trading sessions, say, six months or a year, and only then move on to deytreydingu.

The time interval, which gives the best results with relevant experience and trading tools, depends entirely on the psychology of a particular trader. It is very individual. Some people have a much better, Po compared with others, the ability to trade at 5-minute chart, whereas others achieve better success in the monthly charts. Find what works for you a time frame and is a critical parameter for the self-discipline. I trade at any time intervals, but I had 30 years of experience!

Your attitude to the mechanical systems. All the trade a programmable?

The first chapter of his book “Trading in the levels DiNapoli” I am completely devoted to the discussion of mechanical trading systems in comparison with analytical solutions. Trading on the analytical system is very difficult, requires great concentration and self-discipline, although it can lead to extremely favorable ratio of profit / loss. Mechanical trading systems typically have a low percentage of winning trades. Usually, they look good on paper but not in practice. In the approach used by me for about 80% of action is based on mechanical methods, while 20% – on the analytical. This combination of two types of systems gives me the best results. At the same time I want to draw attention to the following paradox: the more you will be able to mechanize and to reduce to a mechanistic method, even if you trade solely on the basis of analytical methods – better for you.

One of the secrets of analytical trade – to realize as much as possible by mechanical means.

Who are your friends, and why?

Almost all my friends – traders. These are people, qualities which I admire. Traders are able to bear responsibility for their decisions. I think it is important for life in general, and for trading – in particular. Trader lives or dies by its own decision. He – a real man (of course, there are real women). Instead of complaining that this or that system is bad, traders find a system that will work for them. Instead of whining, that a broker is bad, the trader will find a good broker. I’m not saying that there could be some discontent or outlet for emotions, I was not ideal in this respect, but it is – not the main feature. Traders – dedicated people, they spend the necessary time for training, and then do what works.

I wrote two articles on Robert Krause, because I like his methods and the program “Fibonacci-trader”. You also mentioned about it in his book. Both of you are using Fibonacci levels. What are the similarities and differences between your approaches?

Robert went to my Fibonacci-seminars in 1988. That was before its publication on the Fibonacci levels. He – a good man. Out of respect for me he had not included my methods or in its software, nor descriptions of their presentations. His methods are quite different from mine, but I think any attempt to characterize these differences would be inappropriate because, as you know, our programs compete in the market.

What markets do you prefer today?

In fact, I always work, where the easiest to make money. If you do not rate me as a reproach against the moral norms (only for the duration of the interview, and the only market I mean!), I increasingly prefer to take money from deaf, dumb, blind, crippled and hopeless than that of the powerful and wealthy . The methods described in general terms in my article, mainly in the book will help you find the present is always in the market failures, without the knowledge and experience and take everything they have. This may seem unkind, but I would rather be a vulture and eat carrion, than attacking the living. Knowledge in general and the ability to apply knowledge – is what separates the two types of winners and losers. I – trader and traded on the Forex (forex). I trade on the stock indexes. I trade on commodities. I trade stocks. I trade in mutual funds. Sometimes I trade options, though not very often.

What can be said Trader Joe’s about risk management?

I can not say much. I drove the course of trading for many years. Over three hours of this course with a lot of graphic material was devoted to personal management, risk management and cash. Obviously, he represented some value for beginners, but I often hear from experts, professional money managers, this information was important for them. A trader must understand that in certain circumstances it makes sense to risk a large sum than the value of the potential gains. In other cases, it makes sense to enter the auction several times, until one of the inputs do not be profitable. This is – a big subject, and I, unfortunately, in our interviews can not go into detail parts. Look catastrophe theory or the theory of gambling. Courses that I have read, are in my other books that may be available to the Russian reader. These books also describe what is known as “the expectation of trades.

Many of Russia’s traders are already working or going to work on U.S. markets. What we expect in the coming year? What, in your opinion, the most likely scenario for the situation?

Expect losses as U.S. markets – one of the most difficult. Competition is extremely high, and any trader, whether in Russia or the U.S., you must have a maximum of experience, knowledge and reliable instruments. Besides, I can say that the markets will be jumping up and down. Do not want to seem frivolous. Frankly, it does not matter that said Joe DiNapoli or other experts, although my expectations were, and still are very bleak.

It is important that the methods they say, when you enter the market and that the methods they say on the time interval at which you work. We have a client page available to those who purchase the software directly from us, or those who buy time on these pages to get acquainted with our forecasts. These pages – not about where you can break the bank, not about the market direction. Rather, they are of educational nature for people who want to get acquainted with my technique. We talk about the direction of the market when we see something important or when to use methods that teach.

Methods of trade.

Question: Please describe briefly what you are doing, how long you are trading in the markets and so on, to give readers a little information about yourself.

Joe DiNapoli: It seems that one way or another, I was involved in the trade all his life. In 1967 I graduated from technical college and began seriously to trade. In those days, I had to deal with low-capitalized, small emissions, where you lose only 15-25% of the spread. We used these “shares”, which was used in the credit union company where I worked. In those days, I was also involved in trading options. It is up to how they were made to the stock exchange listing, as it is today. I was involved in trading commodity contracts in 1980. I love the commodity markets. If you can develop strategies to effectively deal with risk, the benefits of this market far outweigh the other markets. Around 1986. I started to speak before an audience, initially with Jake Bernstein, at the international symposium on futures. That’s when I began public speaking. I played around the world, in major centers in Asia, Europe and the Middle East. Only in 1996. I spoke in 22 different countries. It was too much, but I could not refuse the opportunity to make places such as Tallinn, St. Petersburg and Mumbai. I met fantastic people around the world.

Q: Tell us a little about your shopping style?

Joe DiNapoli: Trading methods that I use, substantially differs from that used by other people. I mix leading and lagging indicators and interact with prices based on this approach. I use some of the lagging indicators such as the displaced moving averages and a combination of MACD and Stochastics to determine the trend. As soon as I am in the trend, I use Fibonacci analysis as a leading indicator to be positioned within this trend. The last step is to capture the logical targets for profit. These objectives profits are calculated using certain methods of Fibonacci. This approach is my own, because I spent a lot of time developing it. I use the displaced moving averages, for example, in a very specific and unique manner. I think that I really did their homework just in this one, spending about 3 years for research in the early 80’s. In the middle of the 80th, I spent another three years, determining the most effective way to use Fibonacci method. I think I did a good job separating the best from the good or average. Sometimes it’s not a question of developing a new indicator, and the question of use of existing indicator in a more efficient manner.

Question: Can you give an example of what you mean by using an existing display a more effective way?

Joe DiNapoli: OK, let’s take moving averages. Instead of using standard moving averages, I use the displaced moving averages. In fact, in the middle of the 80th, when I started to talk about it, there was no software for this, as far as I know, besides our own, which moves the moving averages. Prior to this, some people used the opening price, instead of closing to determine the moving average, so that they can know how important it was for a moving average before the end of the day. When you move a moving average, say five days, you know how important moving average should be by the end of five days. There was no more reason to use a different opening. Unfortunately, many of the graphics programs that move the moving averages today, do not show the price activity of recent days. This is an example of commercial software created by programmers, rather than traders.

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