Tom “Strignano” Alongi is a professional Currency Trader, with over 20 years trading for International Banks. He was a Chief Dealer in charge of several large trading rooms in New York. He is currently a trader for a private hedge fund run by his old colleagues aside from running his TRN service.  His focus is always to seek out  low risk high reward trades using several of his own proprietary trading systems. He is primarily what is known as  a short term  Contratrend trader (selling strength and buying weakness if the over all trend is the opposite direction.)He builds long term core positions, with the short term buys and sells designed to improve the overall average of the core position trade.

Note From Tom;

I was bitten by the FOREX bug early in my life. I had started an internship (Fancy way to say worked for free) in the mid 1980s.

I was immediately enamored with the whole trading room ambiance. The excitement, the roar of the room, watching as dealers bark out  commands to the position clerks to get on the phone and call out for blocks(prices on) of $50,000,000 verse the Deutsche Mark!   Like a young child that begs for attention I was even happy as they yelled at me and called me a moron! ! Yes I fell in love early and hard.  I  thought that FOREX trading was easy, based on gut instinct and feel of the market rhythm. I could not wait to get involved I just wanted my shot at it.., I felt that I was born to do this business. I even rented the movie 9 and 1/2 weeks several times just to watch Mickey O’Rourkes character go into the dealing room. I was so proud to be part of a little known trading apparatchik.

Yes I was proud to tell my friends I was a trading position clerk, on my way to being a trader!  Well ,when I finally scratched and clawed my way into a Trading room(4 years later), and was given my shot at trading I quickly realized It was not as easy as I thought. As a matter of fact it was a really tough business where the pressure was intense, you are nothing more then a profit center for a bank, to my chagrin nothing like the movie character that Mickey O’Rourke played, I never even got that Kim Basinger look alike girlfriend! I was still in lust with FOREX, I just learned that you need much more then “Gut” instinct. As a matter of fact you can’ t even love the excitement of the market, you must prevail with a cool head at all times. This is a business, and its the business of money the most difficult  any person can endeavor.  80% of the time you are doing battle with yourself, getting in your own way and seconding guessing your trade decisions. Yes it happens to all of us the beginning of our foray into this wonderful vocation. I use the term vocation because it must be “a calling” , it is not a get rich quick scheme. If you approach it as such, you will eventually become wiser, however poorer and wiser!!  It is my goal to help neophytes and seasoned traders to navigate away from the pit falls teach them what discipline is:

“Discipline:”

Discipline means taking small quick losses and letting your profits ride. Dont let your emotions take the drivers seat. That’s the key to all successful trading. Discipline means using stop loss orders on every trade to limit your losses and moving your stop loss orders to protect your profit. That’s one of the keys like WD Gann said..” When you have a profit in a trade, you should take your stop loss order and move it first to your break-even point, and then if your trade continues to trend your way, to always protect your profit along the way”.  Discipline means following all the buy and sell signals that your trading plan or system of trade has to offer you. Simply trade your plan, knowing if you follow your plan you will be ahead in the long run!

In all trading you must expect losses and you must accept them in stride, because it may take only one mistake to wipe out the profits of your account and more!

I was fortunate I had other peoples money to learn with in the beginning of my career, and a solid mentor that saw something in me. Many ask if your so successful, why share your systems with people?

Its a fair question, after all the FOREX market is full of charlatans proclaiming to have the push button secret. My standard answer is that I like to give back, it was always the way of traders to discuss there ideas on how to approach the market. But when pressed by a good friend of mine Bob Iaccino , he asked me  “Then why do I charge a fee?”

My reply was  “Well, these systems cost me money, and much pain and suffering of my P/L  getting them correct!”  He agreed and said that’s why you should tell the people the truth.  “You sell these systems and coaching because its a good business model, it does not effect your trading and it makes total sense!”   Well kudos to Bob, it was a very true statement, and he deserves the credit for making it.  So I am proffering myself up to help those that seek to learn my price action style. I use no indicators trading, I am a student of several past masters. They are listed below:

I am knowledgeable in systems developed by past masters such as GANN, Larry Williams, Douglas Taylor etc. To be in the market at all times, I built short-term systems based off the long-term weekly trend, drilling down to the daily charts, then looking for price action in the 1 hour to get in at certain key levels, either long or short positions. My professional working career is summarized as following;

BNA – NY
- Chief Dealer~ Market Maker
> Also traded Agri Futures, Corn, Wheat, Hogs, Cattle, FCOJ
> Interest Rate Swaps

CRT – NY(Came Back As Chief Dealer)
- Chief Dealer~Market Maker
> In charge of global short term F/X positions Ran the desk with 30 traders under me.
> Interest Rate swaps and Bond Futures

DG Bank – NY
- Senior Trader~Market Maker all crosses
> Traded all Cross CCY and made markets for all forward Cross Currencies.

Cassa Risparmio Di Torino~ CRT Bank
- Senior Dealer~Market Maker
> DEM/ITL, Dol/DEM, Dol/JPY, GBP/DEM, Dol/CHF & DEM/CHF
- Head Position Clerk (working directly for Treasurer, Aldo Pizzoferrato)

Deutsche Bank – NY
- Jr.Trader Minor Currencies
- Position Clerk (front office)
- Position Clerk (back office)
- Telephone Confirm Clerk (back office)