Stock traders club to start in New Milford
Published 9:53 pm, Thursday, August 11, 2016
The Western Connecticut Stock Traders Club, which serves the New Milford area, will host its inaugural meeting Sept. 12 at 6 p.m. at the offices of Miles Finch Innovation on the second floor at 24 Bank St. in New Milford.
The club is a noncommercial, nonprofit organization dedicated to helping its members avoid the pitfalls of trading, while improving their skills, and thus the likelihood of financial success, through active participation in various financial markets.
While the primary focus of the Connecticut Stock Traders Club will be stocks, traders of all kinds are welcome.
Each meeting will feature presentations by traders representing a wide spectrum of interests and experience.
The goal is to provide a social and educational experience that will help members and guests become better traders.
The first meeting will feature in-depth discussion of team trading, a strategy through which traders can work together to make better decisions with the benefit of multiple perspectives.
Other talks scheduled for the inaugural meeting include an introduction to the basics of trading, as well as a more advanced talk on how to control risk and maximize profits.
The club is hosted by Mack McAleer, a veteran trader with nearly 30 years of experience.
“As I near retirement age, the need to find a replacement for week-to-week career earnings has really come into focus,” McAleer said.
“I have been trading off and on since the ’80s, but career and other distractions made it necessary to assign my retirement account to various money managers much of the time,” he said.
“In January of this year, I checked on my IRA and discovered that the three mutual funds managing my capital had lost money yet again,” he said. “After 30 years, I finally decided that it was time to take charge of my own financial destiny for good.”
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