Should traders have friends traders?

TRADERguy · Apr 15, 2004

Quote from Nana Trader:

totally Wrong. The larger this forum getting, and more
newbies around, less the experienced 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 useful strategies
outside this forum

I have found the opposite...I'm not looking for in depth strategy discussions every time I look at ET but there have been some very in depth strategy discussions that you could spend countless hours reviewing and looking at charts to see how you would apply them.

TRADERguy · Apr 15, 2004

Quote from Sanjuro:

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.

The same noobs will stop saying such stupid **** once they realize that you are making more $ than they are....just give them a chance to have the market kick their teeth in a few times while you are making money. The market has an amazing ability to dish out large doses of humility.

Burtakus · Apr 15, 2004

True friends are friends no matter what your profession is, trader or not. If someone chooses friends solely on their job or station in life then they lead a truly shallow existence.

Mecro · Apr 15, 2004

Quote from Burtakus:

True friends are friends no matter what your profession is, trader or not. If someone chooses friends solely on their job or station in life then they lead a truly shallow existence.

Great idealistic view, unfortunately we do not live in a society where one can just go up to anyone on the street and spark up a friendly conversation. Your possible best friend or soulmate could be on the corner right now but neither of you will ever know because of the social barriers we as a society put up.

Hence people reach out for new friendships and relationships at work, the gym and hobby activities. Plus, traders seem to have a lot in common in general, especially their choice to work for oneself and low regard for corporate America. Also, I dunno bout most of you, but I actually like trading, even though I hate NYSE. Hence I like talking about the markets, the economy, individual companies and some investing. Most traders I know like the same. Not true for the very vast majority of corporate America slaves, they do not like to talk about work since they hate their job.

grimer11 · Apr 15, 2004

for tax purposes, a definitive yes.......theyre giving out 1/2 price dinners!!!!!!

grimer11

Nana Trader · Apr 15, 2004

Quote from TRADERguy:

I have found the opposite...I'm not looking for in depth strategy discussions every time I look at ET but there have been some very in depth strategy discussions that you could spend countless hours reviewing and looking at charts to see how you would apply them.

These are some strategies that i found to be good
-NO_PM PLEASE STRATEGY on 5 min for SP big contract
-Johny Rotten Journal:daytrading breakouts in ES 5min time frame
and few other which i don't remember the names
Can you give link to some of those strategies you refering to?

nkhoi · Apr 15, 2004

Quote from Nana Trader:

These are some strategies that i found to be good
-NO_PM PLEASE STRATEGY on 5 min for SP big contract
-Johny Rotten Journal:daytrading breakouts in ES 5min time frame
and few other which i don't remember the names
...

and soon to be classic the volume thread from dbphoenix

cuz · Apr 17, 2004

Quote from Mecro:

I think it's the greed and fear that the other trader will steal your style. Traders that trade in a teamwork environment become very friendly with each other, go out and drink after work and so on. Traders that just sit side by side but do not really share ideas always have that barrier between them. Sad really.

And we know that to be true!

Right Partner??

cuz · Apr 17, 2004

Quote from Mecro:

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.

Rethink that statement for a minute.
There are people in your row that are frineds and people whoe are not.

And people that are loners and I think you can decifer it all!

harrytrader · Apr 18, 2004

Maybe it's the contrary : he find traders too arrogant that's why he want to avoid don't you think ? Look at this board...

Quote from Epiphany:

Nassim Taleb avoids traders and business professionals... does he have something, or is he simply arrogant?