Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

analyst75

Noam Gottesman: Founder of a Successful Trading Business

Recommended Posts

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 16

 

“Traditional risk management simply fails to account for the fact that the most dangerous risks are those which occur infrequently and don’t show up in track-records.” - Jack Schwager

 

Name: Noam Gottesman

Year of birth: May 1961

Nationality: American, British

Occupation: hedge fund manager, businessman

 

HE APPROACHES TRADING AS A BUSINESS

Noam is of Jewish ethnicity. He also has dual citizenship (the US and UK); and based in New York. He got his B.A. from Columbia University.

 

He first worked at Goldman Sachs, in a London branch, and rose up the executive ladder, becoming a manager of one of their private client funds. After leaving Goldman Sachs in 1995, he co-founded GLG Partners.

 

As of year 2014, Noam was worth $2 billion, which made Forbes list him among 400 richest people in that year. This means that his trading activities were hugely profitable.

 

In 2007, GLG Partners grew up to the point of managing $24.6 billion; and becoming a publicly traded company on New York Stock Exchange.

 

Noam has other business and activities of interest like, TOMS Capital (investment Company), Eleven Madison Park (restaurants), the Tate Gallery Foundation (trusteeship), etc. He was blessed with 4 children.

 

What You Need to Know:

1. Contrary to what certain people believe, trading is no gambling. Well, it’s gambling for those who see it as such. For those who see it as a serious business, like Noam, it’s just what it is: a business. Treat your trading career as a business and you’d have higher chances of being successful.

 

2. You track record is important. It shows how you controlled risk in the past and profited from uncertainties. Noam has his track records, making him an undisputed super trader.

 

3. Your trading system(s) must be able to survive all market conditions, and you must be able to follow your rules flawlessly. By this, I mean winning rules. Adhering to losing rules would only make you lose your money.

 

4. Yes, when you become successful in trading, you can also try other businesses, just like Noam. Breakthrough in a very tough but highly rewarding business like trading might encourage you to venture into other fields. Peter Thiel is another good example.

 

5. As you become richer, then enjoy your money. Forbes revealed that Noam got married in May 2015 (second marriage) to the sales director of fashion label Reed Krakoff in Italy, an elaborate event attended by such celebrities as Beyonce and Jay Z.

 

This article is ended by the quote below:

 

“A mistake occurs when you don’t follow your written trading rules, and if you don’t have written rules then everything you do is a mistake. An efficiency level of 80% (two mistakes in ten trades) can ruin your trading system and your profits.” – Dr. Van Tharp

 

Copyright: Tallinex.com

Share this post


Link to post
Share on other sites
Huh, I like this one."you must be able to follow your rules flawlessly" - so true, that's like my biggest problem as a trader now...

 

Exasperation is kind of where I'm at... but I am amused.

 

To the OP... Yes, this person you reference may have become rich and famous... that's all good. For those of you who frequent this site looking for answers; this is not the answer. You may note that this person worked for his MBA, was accepted for a job at GS, and this rest is history (as the saying goes). Is that you? I think if it were you, you would not be on some forum looking for answers. Please. leave this trading drivel, and work out your own trading salvation on your own terms. Be creative...think for yourselves.

 

The other thing, and this is something that mystifies me (in a humorous way): "Mr. Joel Darr, with all due respect, why have you chosen to register here as a "vendor"? Please don't take offense at this question. I only ask because I have seen several so-called vendors that actually have nothing to offer (I'm not just talking about sound trading advice). I'm just curious... are you a vendor of "I heart trading mouse pads"... or some such thing?

 

I am just asking... no judgement involved from my perspective (not a totally true statement, but I am curious... maybe I want to register as vendor if there is some financial advantage to be had).

Share this post


Link to post
Share on other sites
...

 

To the OP... Yes, this person you reference may have become rich and famous... that's all good. For those of you who frequent this site looking for answers; this is not the answer. You may note that this person worked for his MBA, was accepted for a job at GS, and this rest is history (as the saying goes). Is that you? I think if it were you, you would not be on some forum looking for answers. Please. leave this trading drivel, and work out your own trading salvation on your own terms. Be creative...think for yourselves.

 

...

 

Using more obtuse phrasing, I have hit on the same thing a couple of times...that

1) traders at the first cusp simply do not have the capacity to really learn anything from traders who have passed the second cusp.

 

2) and even if they could get something out of it, the MASTERs in these profiles are not telling it like it really is and their profilers are not really 'getting it' either. For example - I know Jerry Parker and if he were really giving real advice to someone it would be quite different from the spiel some Michael Covel spun together after a 15 minute pity interview ... that A75 then recycled into his What You Need to Know: sections

 

3) "Find your own way" zdo

 

Now that you mention it, Joel Darr does seem to be having too much big pile of fun for a vendor ... :)

All vendors need to be at least as serious as DBP... who I've never seen crack an online 'smile' his whole life... :razz:

Share this post


Link to post
Share on other sites
3) "Find your own way" zdo

 

That's not advice folks- it's a warning.

 

 

This week I will be adding (as usual) a hell of a lot more ' experts' (on everything) to my ignore list.

 

Typically, in this world, removing all the fat gives one the best chance of actually finding some meat..in the same way as ignoring proven liars gets you one step closer to some truth.

 

Well... I am a self inspired expert (on everything), but with a modicum of honesty, and personal integrity I rarely try to convince others of this. Besides, it most always goes sideways the moment I open my mouth, unless there is more than one idiot in the room.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 4th April 2025.   USDJPY Falls to 25-Week Low as Safe Havens Surge and Markets Eye NFP Data.   Safe haven currencies and the traditional alternative to the US Dollar continue to increase in value while the Dollar declines. Investors traditionally opt to invest in the Japanese Yen and Swiss Franc at times of uncertainty and when they wish to avoid the Dollar. The Japanese Yen continues to be the best-performing currency of the week and of the day. Will this continue to be the case after today’s US employment figures?   USDJPY - NFP Data And Trade Negotiations The USDJPY is currently trading at a 25-week low and is witnessing one of its strongest declines this week. The exchange rate is no longer obtaining indications from the RSI that the price is oversold. The current bullish swing is obtaining indications of divergence as the price fails to form a higher high. Therefore, short-term momentum is in favour of the US Dollar, but there are still signs the Japanese Yen can regain momentum quickly.       USDJPY 1-Hour Chart     The price movement of the exchange rate in both the short and long term will depend on 3 factors. Today’s US employment data, next week’s inflation rate and most importantly the progress of negotiations between the US and trade partners. If today’s Unemployment Rate increases above 4.1%, the reading will be the highest seen so far in 2025. Currently, the market expects the Unemployment Rate to remain at 4.1% and the Non-Farm Payroll Change to add 137,000 jobs. The average NFP reading this year so far has been 194,000.   If data does not meet expectations, US investors may continue to increase exposure away from the Dollar and to other safe-haven assets. Previously investors were expecting only 2 rate cuts this year from the Federal Reserve, however, most investors now expect up to 4. If today’s employment data deteriorates, economists advise the Federal Reserve may opt to cut interest rates sooner.   Therefore, it is important to note that today’s NFP will influence the USDJPY to a large extent. Whereas in the longer-term, trade negotiations will steal the spotlight. If trade partners are able to negotiate the US Dollar can correct back upwards. Whereas, if other countries retaliate and do not negotiate the US Dollar will remain weak.   USDJPY - The Yen and the Bank of Japan The Japanese Yen is the best-performing currency in 2025 increasing by 6.70% so far. Risk indicators such as the VIX and High-Low Indexes continue to worsen which is positive for the JPY as a safe haven currency.   Yesterday Japan released March business activity data that came in weaker than expected: the Services PMI dropped from 53.7 to 50.0, while the Composite PMI fell from 52.0 to 48.9. The data is the lowest in two years. These figures could hinder further interest rate hikes by the Bank of Japan. However, most economists still expect the Bank Of Japan to hike at least once more. It's also important to note, that even if the BOJ opts for a prolonged pause, a cut is not likely.   Additionally, a 24% tariff was imposed on Japanese exports to the US yesterday. Prime Minister Mr Ishiba expressed disappointment over Japan's failure to secure a tariff exemption and pledged support measures to help domestic industries manage the impact.   Key Takeaway Points: US Dollar Weakens, Safe Havens Rise: The Japanese Yen and Swiss Franc continue to gain as investors shift away from the US Dollar. USDJPY Under Pressure: USDJPY trades at a 25-week low, with short-term momentum favouring the Dollar but long-term trends pointing to potential Yen strength. NFP and Unemployment Crucial: Today’s Non-Farm Payrolls and unemployment figures will heavily influence short-term USDJPY. On the other hand, trade negotiations will dictate longer-term trends. Japan Faces Mixed Signals: Despite weak PMI data and new US tariffs, the Japanese Yen remains strong. Economists expect at least one more rate hike from the Bank of Japan, but no cuts are in sight. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • YUM Yum Brands stock, nice breakout with volume +34.5%, from Stocks to Watch at https://stockconsultant.com/?YUM
    • Date: 3rd April 2025.   Gold Prices Pull Back After Record High as Traders Eye Trump’s Tariffs.   Key Takeaways:   Gold prices retreated after hitting a record high of $3,167.57 per ounce due to profit-taking. President Trump announced a 10% baseline tariff on all US imports, escalating trade tensions. Gold remains exempt from reciprocal tariffs, reinforcing its safe-haven appeal. Investors await US non-farm payroll data for further market direction. Fed rate cut bets and weaker US Treasury yields underpin gold’s bullish outlook. Gold Prices Retreat from Record Highs Amid Profit-Taking Gold prices saw a pullback on Thursday as traders opted to take profits following a historic surge. Spot gold declined 0.4% to $3,122.10 per ounce as of 0710 GMT, retreating from its fresh all-time high of $3,167.57. Meanwhile, US gold futures slipped 0.7% to $3,145.00 per ounce, reflecting broader market uncertainty over economic and geopolitical developments.   The recent rally was largely fueled by concerns over escalating trade tensions after President Donald Trump unveiled sweeping new import tariffs. The 10% baseline tariff on all goods entering the US further deepened the global trade conflict, intensifying investor demand for safe-haven assets like gold. However, as traders locked in gains from the surge, prices saw a modest retracement.   Trump’s Tariffs and Their Market Implications On Wednesday, Trump introduced a sweeping tariff policy imposing a 10% baseline duty on all imports, with significantly higher tariffs on select nations. While this move was aimed at bolstering domestic manufacturing, it sent shockwaves across global markets, fueling inflation concerns and heightening trade war fears.   Gold’s Role Amid Trade War Escalations Despite the widespread tariff measures, the White House clarified that reciprocal tariffs do not apply to gold, energy, and ‘certain minerals that are not available in the US’. This exemption suggests that central banks and institutional investors may continue favouring gold as a hedge against economic instability. One of the key factors supporting gold is the slowdown that these tariffs could cause in the US economy, which raises the likelihood of future Federal Reserve rate cuts. Gold is currently in a pure momentum trade. Market participants are on the sidelines and until we see a significant shakeout, this momentum could persist.   Impact on the US Dollar and Bond Yields Gold prices typically move inversely to the US dollar, and the latest developments have pushed the dollar to its weakest level since October 2024. Market participants are increasingly pricing in the possibility of a Fed rate cut, as the tariffs could weigh on economic growth.   Additionally, US Treasury yields have plummeted, reflecting growing recession fears. Lower bond yields reduce the opportunity cost of holding non-yielding assets like gold, making it a more attractive investment.         Technical Analysis: Key Levels to Watch Gold’s recent rally has pushed it into overbought territory, with the Relative Strength Index (RSI) above 70. This indicates a potential short-term pullback before the uptrend resumes. The immediate support level lies at $3,115, aligning with the Asian session low. A further decline could bring gold towards the $3,100 psychological level, which has previously acted as a strong support zone. Below this, the $3,076–$3,057 region represents a critical weekly support range where buyers may re-enter the market. In the event of a more significant correction, $3,000 stands as a major psychological floor.   On the upside, gold faces immediate resistance at $3,149. A break above this level could signal renewed bullish momentum, potentially leading to a retest of the record high at $3,167. If bullish momentum persists, the next target is the $3,200 psychological barrier, which could pave the way for further gains. Despite the recent pullback, the broader trend remains bullish, with dips likely to be viewed as buying opportunities.   Looking Ahead: Non-Farm Payrolls and Fed Policy Traders are closely monitoring Friday’s US non-farm payrolls (NFP) report, which could provide critical insights into the Federal Reserve’s next policy moves. A weaker-than-expected jobs report may strengthen expectations for an interest rate cut, further boosting gold prices.   Other key economic data releases, such as jobless claims and the ISM Services PMI, may also impact market sentiment in the short term. However, with rising geopolitical uncertainties, trade tensions, and a weakening US dollar, gold’s safe-haven appeal remains strong.   Conclusion: While short-term profit-taking may trigger minor corrections, gold’s long-term outlook remains bullish. As global trade tensions mount and the Federal Reserve leans toward a more accommodative stance, gold could see further gains in the months ahead.   Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Andria Pichidi HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • AMZN Amazon stock, nice buying at the 187.26 triple+ support area at https://stockconsultant.com/?AMZN
    • DELL Dell Technologies stock, good day moving higher off the 90.99 double support area, from Stocks to Watch at https://stockconsultant.com/?DELL
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.