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Trading Partners
- Thread starter retire45
- Start date
You need to separate. I started trading away from the office partially because of a situation like this.
A buddy of mine runs the same API as me, and we both do very well with it.
But I swear his discretionary trades are going to blow him up. About once per month, he goes into a well thought out description of how the markets are out to get him. Way too much emotion and negativity for me. It was time to work at home. (It also helps that I don't need to get in a car and commute when it's 20 freaking degrees below zero)
Your environment is extremely important in this business. Yes, you need to be strong emotionally, but why give yourself an unnecessary handicap?
A buddy of mine runs the same API as me, and we both do very well with it.
But I swear his discretionary trades are going to blow him up. About once per month, he goes into a well thought out description of how the markets are out to get him. Way too much emotion and negativity for me. It was time to work at home. (It also helps that I don't need to get in a car and commute when it's 20 freaking degrees below zero)
Your environment is extremely important in this business. Yes, you need to be strong emotionally, but why give yourself an unnecessary handicap?
Quote from retire45:
I have a trading buddy that lately has an opposite opinion of the markets complicating my trades... He has been bottom fishing last 3 days and cannot fathom why DOW didn't bounce at October lows today.... Actually ruined a couple of my short trades today as a result.... He always tries to pick tops and bottoms...
How to deal with this?
thank you!!!1
Here is a more extreme way to look at it... An old friend of yours has become a daytrader.. You are a daily trend swing trader... If you conference call during the trading day there is a decent chance you end up doing "some" daytrading as well as him considering swingtrading...
Hmmmm... so could be the more time you spend on daytrading sites like ET the more likely you have an "open" mind toward styles and timeframes other than what has been working for your...
All assuming you are in mental state susceptible to external influence...
Seems to be heading back to one of my very first posts here on ET.. The best trader lives on an island with access to market price info only.
Hmmmm... so could be the more time you spend on daytrading sites like ET the more likely you have an "open" mind toward styles and timeframes other than what has been working for your...
All assuming you are in mental state susceptible to external influence...
Seems to be heading back to one of my very first posts here on ET.. The best trader lives on an island with access to market price info only.
Quote from retire45:
I have a trading buddy that lately has an opposite opinion of the markets complicating my trades... He has been bottom fishing last 3 days and cannot fathom why DOW didn't bounce at October lows today.... Actually ruined a couple of my short trades today as a result.... He always tries to pick tops and bottoms...
How to deal with this?
i want to know ,too
Quote from wutimzhang:
i want to know ,too
That was my question.... Simple answer really... PLAN YOUR TRADES AND TRADE YOUR PLAN.... money lost as a result of straying is yours alone... You have no option to Soclailize your losses.
At it's core a focus and discipline problem... grow a spine.
1. Dump him.Quote from retire45:
My buddy remains short... He says he is going to probably take some time off... Cannot believe how he cannot see AND trade price only... I feel like reaching over the phone and closing out his shorts as he is firmly in margin call territory.. His broker likely does it for him soon..
2. Remain friends, but don't discuss trading with him.
Let him be responsible for his trades (life) and you should be responsible for yours.
To whom it may concern (OP):
I don't want to be offensive but I find you very pity murmuring about your partner who is currently in trouble. After all, he is the close person to you where you can talk almost everything that the reason why you're still with him. Right now, I believe he does need help and the person who can help him is you, not us. So, stop complaining and try to help him to get out of this trouble.
Do not try to reason him during the market open, will only set fire on fire. Talk to him when he is cooled down, maybe on the weekend.
I don't want to be offensive but I find you very pity murmuring about your partner who is currently in trouble. After all, he is the close person to you where you can talk almost everything that the reason why you're still with him. Right now, I believe he does need help and the person who can help him is you, not us. So, stop complaining and try to help him to get out of this trouble.
Do not try to reason him during the market open, will only set fire on fire. Talk to him when he is cooled down, maybe on the weekend.