Should traders have friends traders?
- Thread starter Fight Club
- Start date
Quote from Gringinho:
That's one of the reasons why you are an subscriber to this forum, right ? Or at least one of the benefits where you actually find something in common, hopefully.
Totaly Wrong. The larger this forum geting, and more
newbies around, less the experianced traders are
sharing their knowledge and techniques.
So many useless threads everyday with repeated
questions making it hard to search for new things.
I have learned much more about usefull strategies
outside this forum
In some artistic endeavors, collaboration is a big part of success. When you trade you should retain your own individuality yet get supported by a larger whole, trading community. I do not advise collaboration between traders. Although âtrading buddiesâ may be enjoyable, they are destructive to the development of personal trading styles. This development will be compromised, if you listen to or are swayed by friendly critiques, others trading patterns or trading tricks inconsistent with your personal approach to trading.
Think of yourself as a lone wolf! Minimal influences and minimal interruptions are keys to success. The ability to avoid distractions requires a great deal of concentration and stamina on the part of the trader.
Without this focus, you will not be a successful trader!
Think of yourself as a lone wolf! Minimal influences and minimal interruptions are keys to success. The ability to avoid distractions requires a great deal of concentration and stamina on the part of the trader.
Without this focus, you will not be a successful trader!
I think you mean that there are a lot of things to waste one's time on here - and you need to sift through continously growing heaps of uninteresting chatter to find something worthwhile to read.
However, I do think you find that you have more contact with people who share some common ground about trading here - than any other social forum you adhere to. That is unless you have a lot of real world friends in the financial sector
Personally, I find that when I quitted the whole entrepeneur scene, my need for and frequency of those contacts dropped significantly. That was a relief though, because of all the stress when "being at work 24/7" - at restaurants or anywhere - discussing business strategies.
When it comes to trading - especially future indexes - there is no better place for me. After a 6 pts profit on the ES in the first hours I call it a day and do other stuff like programming and posting some more.
Sometimes posts on the forum are helpful, but most often people are just voicing their opinions, and not really insight.
Not true at all. Also I feel that not talking to someone just because of their profit situation is a very bad attitude to take.
I think everyone is profitable in my row but we aren't really friends nor do we really share ideas. We call out some interesting stuff here or there but nothing like a team.
Just don't talk about your trading whether they are traders or not, best solution. It doesn't mean I never ever talk about the market, but not about my positions or my P/L or my detailed opinion of the market I don't want to have to answer Q's like "hey how much did you make today?" each time I see someone. After a few years doing this, you don't want to have to think about trading all the time anyway.
It's pretty much the same conflict as that between every individual's need for privacy and his/her need to socialize. Somewhere in the middle of these two competing (but not necessarily diametrically-opposing) needs is a balance point for the individual in question. The ultra-private (some would say, "paranoid") individual wants no friends (traders or not). The ultra-social individual can only trade with the support and cameraderie of friends (mostly traders--people just like him/her). And there are going to be moments when the ultra-social individual has an intense need for privacy and vice versa, so there's no clear-cut answer to this question.
To the original question, I say this: I think it's good to have trader friends that are at or slightly above your trading skill level so that you can "trade" ideas and knowledge with them, yet not keep those friends so close that they dominate either your trading or social life, and hence, your trading decisions. Your relationships will always be in flux, and it's up to you to maintain the balance necessary to match your own priorities and keep your trading profitable.
To the original question, I say this: I think it's good to have trader friends that are at or slightly above your trading skill level so that you can "trade" ideas and knowledge with them, yet not keep those friends so close that they dominate either your trading or social life, and hence, your trading decisions. Your relationships will always be in flux, and it's up to you to maintain the balance necessary to match your own priorities and keep your trading profitable.
If you're going to have some trading friends, make sure
they are better traders than you.
Having noob trading friends will only hurt your performance
and affect your judgement negatively.
They'll say stupid **** like "It's all luck!".
Also, "Why did you sell so early?", only after the stock takes off.
I had non-trader friends who use to think trading was so easy
and talked like they could catch all the moves. After they opened
their trading account and lost half their money, it really shut them up.
they are better traders than you.
Having noob trading friends will only hurt your performance
and affect your judgement negatively.
They'll say stupid **** like "It's all luck!".
Also, "Why did you sell so early?", only after the stock takes off.
I had non-trader friends who use to think trading was so easy
and talked like they could catch all the moves. After they opened
their trading account and lost half their money, it really shut them up.