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Trading with Transparency, and Why "We Need More of It"

Ex-Wall Street trader on the importance of admitting a mistake

by Vadim Pokhlebkin
Updated: June 06, 2018

Todd Gordon's resume includes two Wall Street firms and a long record of trading his own money. Today, Todd is the founder of TradingAnalysis.com and a regular contributor to CNBC shows like "Fast Money" and "Squawk on the Street."

On May 10, we sat down with him in our ElliottWaveTV studio to learn more about his very transparent, Elliott wave-based trading style.

In this clip: Why showing your trades live is important.

Vadim: I like this flexible approach a lot. When I first saw the work that you do on TradingAnalysis.com, I was impressed and I'm still impressed by the fact that you're not afraid to put on a live trade and not afraid to make a mistake and be public about it. That takes real confidence.

Todd: Thank you.

Vadim: In yourself and in the method as well.

Todd: We just need more transparency in this industry. There's too many people. I don't want to say bad about any of my peers. I have a lot of love for my fellow traders but there's too many people out there saying this is easy. You study for a weekend and you can supplement your income and pay your mortgage. Unfortunately, that's not the reality. To do this, you have to love it and you have to work hard at it and you have to be passionate about it. It's just like a boxing match. You have to protect yourself. You're constantly managing risk. You're going to take some shots. You're going to wind up on your butt on the mat. You get up, you keep fighting but you always protect yourself. You just got to try to win the decision at the end of 12 rounds. Transparency is really, really important. Trading is very difficult. You got some of the smartest minds with the deepest pockets in the world trying to do this and you're competing with them. But with the tools that you have and proper training, you can compete. Just because they're smart and they've got fancy computers, they're still prone to emotion.

Vadim: That's a great approach. Thanks for joining us today. Thanks for very insightful answers to our questions and of course, sharing your real-time work. I encourage our viewers to check out more of that work at TradingAnalysis.com. I'm sure we'll be featuring your live trades in our chart of the day videos as well going forward.

Todd: Great, thanks so much Vadim.

Vadim: Thank you.

Todd: Appreciate it. Great to be here.

Editor's note: In the full version of this interview, you'll see Todd Gordon explain why technical analysis still works in the age of AI; examining Elliott wave patterns in QQQ and NVDA to see if the trades are ripe for harvesting, and much more. Follow the fast, free steps below to watch the full interview.

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