Commodity Trading Advisor Carolyn Boroden's Interview with Ilan Levy Mayer - PowerPoint PPT Presentation

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Commodity Trading Advisor Carolyn Boroden's Interview with Ilan Levy Mayer


Carolyn Boroden is a most experienced commodity trading advisor and technical analyst. She is involved in the trading industry for over 25 years. She has worked on all major trading floors like Chicago Mercantile Exchange, the CBOT, NYFE and COMEX etc. To learn more about her, visit: – PowerPoint PPT presentation

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Title: Commodity Trading Advisor Carolyn Boroden's Interview with Ilan Levy Mayer

  • Carolyn Boroden Interview with Ilan Levy Mayer
Cannon Trading
  • Carolyn Boroden is a Commodity Trading Advisor
    and technical analyst who has been involved in
    the trading industry for over 25 years. Her
    background includes working on the major trading
    floors including the Chicago Mercantile Exchange,
    the CBOT, NYFE and COMEX, where she eventually
    shifted over to focusing on technical analysis of
    the markets.

Ilan Tell us a little bit about your trading
background and how you got started trading.
  • Carolyn My entry to this business was not
    typical. I never planned on it. I started on Wall
    Street at 18 years old as a secretary/gopher to
    the Government bond department of Donaldson
    Lufkin and Jenrette. My only real skill at that
    point was typing. Since I was always willing to
    work hard they gave me an opportunity to move to
    Chicago when I was 20 to work on the trading
    floor of the Chicago Mercantile Exchange working
    with Financial Futures. When I moved to Chicago I
    took a basic course in Technical Analysis of the
    markets and was hooked. The rest is history. I
    currently provide market analysis based on
    Fibonacci ratios and market patterns. I also
    teach those who want to learn to do this analysis
    on their own.

Ilan Who were your mentors, and what did you
learn from them?
  • Carolyn Robert Miner was my biggest mentor. I
    met him at a trading conference and after I
    watched his presentation on using Fibonacci
    ratios on both the time and price axis of the
    market I was fascinated and I became a student of
    his work from that moment on. The most important
    thing I learned was that you could ALSO analyze
    the time axis of the market which most analysts
    do NOT do at all. Most analysts say they are
    "timing" the market with their price patterns and
    analysis. This is actually doing the work on the
    TIME axis. I also did learn from Larry Pesavento
    and from Bryce Gilmore who wrote the book
    Geometry of Markets.

  • Ilan At CannonTrading, we give traders the
    ability to create and back-test trading
    strategies. How important is back-testing to your
    trading process? How do you approach this?

  • Carolyn Back testing is extremely difficult with
    my work. Testing as you go however is realistic.
    Ive been in the futures business since 1978.
    I've had plenty of years to test the value of my
    work as I went. Of course nothing is 100 but I
    did find that when my trade setups worked, many
    of them worked very well. When they did not work,
    the risk was very reasonable.

Ilan Trading strategies can help traders rein in
emotional trading decisions and strategy
automation can help traders stick to a trading
plan. What are your thoughts on this?
  • Carolyn I agree with having a trading strategy.
    This allows you to take MOST of the emotion out
    of trading. I suggest that all my traders write
    up their own specific rules for their plans to
    use my work. Taking losses when you need to are
    part of the plan.

  • Ilan There are so many markets to trade today,
    it can be overwhelming. What markets do you trade?

Carolyn I primarily focus on Stocks indices,
some individual stocks and options, and some
choice futures markets.
Ilan How do you approach trade management
setting profit and exit levels, trade size and
account-level risk management?
  • Carolyn As far as trade management is concerned,
    defining risk is the most important. With my
    methodology, the time/price parameters define my
    risk. I know immediately when Im wrong the trade
    and need to exit. As far as targets are
    concerned, I have initial targets on trade setups
    that are defined by the math of the Fibonacci
    ratios. Since there are some trade setups that
    continue in your favor often enough, I suggest to
    my traders that they keep some "runners" and at
    that point use a trailing stop to attempt to stay
    in for some of the much larger moves at least
    with a partial position.

Ilan Finally, if you could give some key advice
for the aspiring traders out there, what would it
  • Carolyn Have a written trading plan. First test
    it with a paper account, then continue to test it
    with a small amount of cash. Remember, having a
    plan does not help you, unless you follow it! For
    a free trial of Carolyn's services click here.

  • Trading Futures, Options on Futures, and retail
    off-exchange foreign currency transactions
    involves substantial risk of loss and is not
    suitable for all investors. You should carefully
    consider whether trading is suitable for you in
    light of your circumstances, knowledge, and
    financial resources. You may lose all or more of
    your initial investment. Opinions, market data,
    and recommendations are subject to change at any

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