Magazine article Modern Trader

Bruno Stenger: Brewing Up Profits

Magazine article Modern Trader

Bruno Stenger: Brewing Up Profits

Article excerpt

Bruno Stenger will never seriously contemplate quitting his day job again. "The last time I did that, the pressure to become a full-time trader damaged my trading," he says. So now his trading day begins at 8 a.m. and in the afternoon he moves to his design studio, where he crafts intricate, high-end gourmet kitchens.

In the corner of the studio, another work station hums temptingly. "Sometimes I trade from the studio," he concedes. "I have another work station at home in case there's a reason to trade at night."

While not fighting the urge to become a full-time trader, he's organizing conventions for other serious German retail traders, or tending to his Web site,, which has become a focal point for Germany's retail trading community. On Oct. 6 and 7, he'll be running the "Trading Herbst," which is sort of an Oktoberfest for retail traders.

"It's a chance for serious novice traders to look over the shoulder of more experienced traders," he explains. "The old pros will be trading in public, in real time, with their own money. Observers will be watching them and asking questions."

His urge to help serious beginners get the right mentoring comes from his own initiation. "When I was looking for guidance, I found a lot of people selling advice who knew a lot less than I did," he recalls.

The 50-year-old Bavarian first caught the trading bug in the dot-corn days of 1999, when he bought shares in only one company: EM-TV. The price soared, and Stenger sold. Then the share price imploded as news emerged the bosses had cooked the books - a sort of pre-Enron Enron.

Stenger's decision to sell at the top reveals one of his trading strengths - a lack of greed. "It sure wasn't any great analysis on my part," he says.

Index futures and options grabbed his attention, and he began buying market-alerts and paper-trading them. Disappointed, he began disregarding most of the signals. "My own views weren't worse than those of the market letters," he laughs.

So he signed up for a real-time data feed and analytical software and used simple concepts such as pivot points and support and resistance and watched the way those hauntingly consistent Fibonacci numbers kept showing up in retracements.

Six months of paper trading made him a paper millionaire, and he rented an office exclusively for trading. …

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