Thursday, July 28th, 2016

Are you a better $trader than me?


Well, there is no such thing. No one is better than than anyone, its our level of experiences that still count. But what is apparent we cannot trade alone and in a complete vacuum without others. Stock market is a collection of emotions and feelings and that’s what trading is about. 

Trading is a lonely profession , very lonely indeed. One has to get up early in the morning and make thousands of dollars decisions within minutes  and the rest of the day goes staring at those monitors and sometimes brutal rides that come with stock market gyrations up and down. Its silly what we  do, but somehow it pays to do that as long as you are successful at it. There are good days and bad days like any other job out there.

Before the advent of Internet in my days with Wade Cook in 1996 I used his bulletin boards to glean off the trades and stock splits he used to do. He would post his trades and we just logged in and copied all the stuff. It was a service and it took away the pain, loneliness, and fear of trading.

Fast forward 13 years and with the modern Internet we now have thousands of sites that brings traders together in ways not imaginable before in real time with chat rooms, and real time information sharing etc etc.  We all want to see what others are doing and how are they doing, we all want to get that edge in trying to solve our own trading problems and what to do when things go wrong and how to overcome them. That’s why we flock to the Internet and getting close to other humans who are involved in the same endeavors day after day.

Trading is an art, and a craft. How good you can become is all up to you and education is an essential part in your success. But what can you gain from others ? What can you get new by looking over some one’s shoulder ? How can you do something better ? These are the reasons we all want to share information. This never ends, because another human mind is better than yours and I always take that road. An open mind and willingness to learn is the key to success in life at least for me.

Today on the Internet there are several services who just provide those answers.These services are generally run by one or two experienced traders and they simply share their experiences via a newsletter and or any other platform. Its an information sharing bulletin board type activity as in the past. What I do you can look over my shoulder and donot have to go through the learning curves and profit quickly.

I do it that all the time myself. I belong to several sites and places where I share my information and everyday I learn from others and get their ideas cycled quickly, without wasting huge amounts of time reading charts and preparing things which I cannot possibly get done in the working hours anyways. There is  so much work and so little time. A good trading idea is all it takes to trigger profits and it may not come from you.

A trader needs new trading ideas all the time unless you stop trading. How to design new trades in a constant stream that will keep generating incomes and potential rewards is an art in itself. I openly use CBOE website and give much credit to Dan Sheridan and Peter Lusk and I review their trading ideas which we may post here on our blog from time to time.

So if you want to be a better trader please join in, and its  what makes the world go around. No man is an island. You can’t do it alone. I know I can’t. Let me know what you think and how you do things?

Comments

One Response to “Are you a better $trader than me?”
  1. It’s funny that you finally spoke up! I have been waiting for someone to bring this out to the open! Anyway… nice post. I will be back.

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