There seems to be lot of good consistently profitable traders out there, but it doesn't seem like any of them are interested in training new traders. I was just wondering why that is? Any opinions?
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Trader Trainers
- Thread starter calibertrader
- Start date
Originally posted by calibertrader
There seems to be lot of good consistently profitable traders out there, but it doesn't seem like any of them are interested in training new traders. I was just wondering why that is? Any opinions?
Some think they would be training the competition so why do that when making money seems to be harder and harder for people. Also most do not have an incentive great enough to compensate them for their time and focus taken away from what they are doing. So also do not have the patients to train a new trader. That can be frusterating espeically when you run into the trader that wants help but constantly does not listen to what you tell them.
Personally I like sharing info with other traders and trying to network with other experienced traders. It keeps me in the loop. Their styles vary so much so no matter what the market is doing someone is making money. I take little pieces from all of them and make it my own evolving style. But that only comes when you are open to new ideas and willing to discuss what you are doing.
I train traders for the prop group I trade for.
Unfortunately, since I scalp for pennies I miss soo many trades from new trader distractions. They used to pay me a salary, but no they just want to give me a higher payout. I actually think it's a wast of my time. I can get people profitable, but it's costing me more money than what I feel it's worth.
Unfortunately, since I scalp for pennies I miss soo many trades from new trader distractions. They used to pay me a salary, but no they just want to give me a higher payout. I actually think it's a wast of my time. I can get people profitable, but it's costing me more money than what I feel it's worth.
anyone who would be any good at trading wouldnt waste their time trying to train some newbe when they could be making the big bucks trading.
catch 22 situation.if their not making money trading you dont want them.if they are making money trading they dont want you.
catch 22 situation.if their not making money trading you dont want them.if they are making money trading they dont want you.
I also think that it is very difficult to teach someone while you are trading, I mean how do you explain to someone the thousands of thoughts and decisions that goes on in your brain when you make a trade...it would literally take hours to go over the knowledge and experience behind the action and it's only unique in that trade as most is a case by case basis. I think that there's two stage in learning to become a trader, the first could possibly involve taking a course in understanding the general stuff to build some kind of knowledge foundation, but the second stage would be to learn from the school of hard knocks by trading for awhile to develop the experience.
Well, I did have a few occasions to teach new traders at the office I work at. The firm asks me for a favor to teach them how to system trade. So I just go through a few routines, tell them to read a few books and lead them through.
I actually don't teach them but lead them. I just lead them to make a system, then make them trade it, when they trade it I ask them to keep a log of opinions about the system or another system. Have them code it... and so forth. I don't really do the thinking. I also don't like other people in my office while trading so I usually talk to them after market hours.
If they become better than me, they can trade my money. It's not competition because I trade my own way and don't get influenced... hey I'm a system trader with a twist... how do I compete? Make a better system? LOL.
Still, it's not competition, it's diversification.
I actually don't teach them but lead them. I just lead them to make a system, then make them trade it, when they trade it I ask them to keep a log of opinions about the system or another system. Have them code it... and so forth. I don't really do the thinking. I also don't like other people in my office while trading so I usually talk to them after market hours.
If they become better than me, they can trade my money. It's not competition because I trade my own way and don't get influenced... hey I'm a system trader with a twist... how do I compete? Make a better system? LOL.
Still, it's not competition, it's diversification.
First off, a trainer that doesn't trade shouldn't train. That trader is out of tune with the market and can't help the new trader adjust to the ever changing market. The trainers job is to get the trader up to speed with different methodologies and how to combine them into a broad strategy. He then has to teach the trader how to switch from strategy to strategy to adjust to the market.
I disagree with the statement that the trainer should be afraid to give up his bread and butter. There are plenty of stocks out there, and one trader can't watch them all, so there's plenty for everyone. You don't have to devote time to the trainee during the day, except to keep them up to date on the markets mood. The time spent should be after the close reviewing trades to show the nuances. You'll never be able to teach them everything, there are just too many variations. That's why there is no book that can make a trader successful. In the end, it's up to the trainee. But a dedicated trainee will start to pick things up themselves. You just need to guide them.
As far as training deals, the trainer should profit even if the trader is negative as long as the firm is making money. There are several firms that offer great deals w/o all kinds of deferments and clauses, and you can PM me for a list. You have to be careful because alot of the firms have deferments which insure you never make money on the deal.
I disagree with the statement that the trainer should be afraid to give up his bread and butter. There are plenty of stocks out there, and one trader can't watch them all, so there's plenty for everyone. You don't have to devote time to the trainee during the day, except to keep them up to date on the markets mood. The time spent should be after the close reviewing trades to show the nuances. You'll never be able to teach them everything, there are just too many variations. That's why there is no book that can make a trader successful. In the end, it's up to the trainee. But a dedicated trainee will start to pick things up themselves. You just need to guide them.
As far as training deals, the trainer should profit even if the trader is negative as long as the firm is making money. There are several firms that offer great deals w/o all kinds of deferments and clauses, and you can PM me for a list. You have to be careful because alot of the firms have deferments which insure you never make money on the deal.
Originally posted by WDGann
Well, I did have a few occasions to teach new traders at the office I work at. The firm asks me for a favor to teach them how to system trade. So I just go through a few routines, tell them to read a few books and lead them through.
I actually don't teach them but lead them. I just lead them to make a system, then make them trade it, when they trade it I ask them to keep a log of opinions about the system or another system. Have them code it... and so forth. I don't really do the thinking. I also don't like other people in my office while trading so I usually talk to them after market hours.
If they become better than me, they can trade my money. It's not competition because I trade my own way and don't get influenced... hey I'm a system trader with a twist... how do I compete? Make a better system? LOL.
Still, it's not competition, it's diversification.
You're right on the money with the last statement.
Originally posted by calibertrader
First off, a trainer that doesn't trade shouldn't train. That trader is out of tune with the market and can't help the new trader adjust to the ever changing market. The trainers job is to get the trader up to speed with different methodologies and how to combine them into a broad strategy. He then has to teach the trader how to switch from strategy to strategy to adjust to the market.
I totally agree with this statement. My first experience with a prop firm was horrible. The "trainer" was suppose to be a trader who came to the firm to help get a new group up and going and then he would concentrate again on trading. Well it turns out he had not traded for awhile and was teaching a method that no longer worked. Obviously it was a big failure. New traders should be suspect of people who offer training but do not currently trade. The market is always evolving. I have seen a lot of people become trainers after their strategy stopped working so they start training people in their old strategy that does not work anymore to make money. Then they can provide proof that it works by showing trading records from when it used to work.
Originally posted by calibertrader
There seems to be lot of good consistently profitable traders out there, but it doesn't seem like any of them are interested in training new traders. I was just wondering why that is? Any opinions?
I am actively training 3 traders right now. However, 95% of it is after the market, reviewing charts, etc. Someone was kind enough to show me, so why shouldn't I share too?