Chuck Hughes and the discipline in trading.
For someone who had to learn discipline upon entering the Air Force as a young man, Charles Hughes has fully embraced this skill to earn significant profits in the stock market.
Chuck Hughes, of Moorestown, N.J., is now a seven-time winner of the (real money, stocks only, 4 month period) Robbins World Cup Trading Championships. [2009 122%, 2007 229%, 2005 30%, 1999 315%, etc].
Chuck learned from Larry Williams (also a winner of the trading world cup) that you can make profits from the stock market with a discipline approach. Chuck Hughes developed several simple trend following systems to profit with via option strategies. Chuck has posted his tax returns and brokerage account transactions online to prove his success.
Chuck Hughes Intermediate Stock Trend System All specifications below are required to take a high probability long stock option trade.
1. Select trend direction based on long term Index (SP500) trend by price above or below 20 mth EMA.
2. Select stocks in leading industry groups or sectors
3. Select stocks with frequent new 52 week highs
4. Select stocks with good Fundamentals. Growth in Stockholder equity (or Retained Earnings), as stock holder equity growth has a high correlation to growth in the stock price.
5. Select stocks with currently monthly price over the 20 month exponential moving average (EMA).
6. Go long when the EMA50 is above the EMA100.
7. Go long when the daily closing price is below the lower band of the Keltner Channel.
8. A up trend of OBV shows volume is supporting the price up trend.
9. Selection of the option strategy, strike price and time frame is extremely critical for trade success.
10. Allocation of money management principles and stop loss rules is critical for trade success.
It should be noted Chuck Hughes has many different strategies: dividends, short methods, income growth. It also should be noted that Chuck Hughes achieved great returns without real time data, expensive software packages, expensive third party system, day trading or the use of margin (debt). Chuck Hughes has been able to become wealthy through position trading and with the use of leverage (options).
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