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Market Wizards - Interviews with Top Traders

Gary Bielfeldt: Yes, They Do Trade T-Bonds In Peoria

Gary Bielfeldt always tries to rely on fundamental analysis. But, because it is very difficult to know all the fundamentals, he started using technical analysis as well. He prefers to use his own trend following system to ascertain the exit point in a position.


Learning how a trend system works is the best thing to start learning about trading  because it teaches a new trader the principle of letting profits run and cutting losses.


Gary says that the economy is the most important factor for fundamentally evaluating the T-bond market. The other 4 elements are:

A. Inflation Expectation,
B. The Dollar ($),
C. Trade Balance, and,
D. The Budget Deficit.


He suggests that a trader should develop a plan of strategies for various contingencies. This will help them to escape the impact caused by every news that causes price fluctuations.


He believes that the traits found in a successful trader are discipline, patience, and courage which comes with adequate capitalization, willingness to lose and a strong desire to win.


People usually judge their success by measuring their performance and thus, a trader can judge his success by the fact whether he wins or loses in the market.


He compares trading to poker and says that his father taught him the concept of playing the percentage hands. One should play good hands and drop out the poor ones. This same principle increases the odds of winning significantly in trading.

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Units 6/19