Saturday, December 05, 2015

A busy old time

The last 24 hours or so have been busy. Last night, we had our regular group webinar which lasted just under a couple of hours - always a good time and a great chance to bounce ideas around, look at lots of charts and discuss trading issues that have cropped up. 

It was clearly evident from the stocks we were discussing that the quality of setups they were looking at and taking have made a quantum leap forward en masse. It made me wonder how I missed taking some of them myself!

This morning, I spoke to a trader who I previously mentored. He has recently started a stint at a prop trading firm in London. A different timeframe and style of trading certainly, but those twin pillars of good risk control and developing the right mindset are applicable to all styles of trading. I will eagerly await updates of how he is progressing.

Shortly afterwards, it was into a three hour Skype conversation with a keen trader based in South America who is continuing to make good progress in his development.

Then it was on to looking further at some potential changes to my own scans, following  recent meeting with a couple of London-based traders from our group. Several ideas for all of us came out of that session, which we are all taking forward.

While these traders have initially come to me for assistance, I can only take them so far. They have to follow through and take action on any ideas or comments, as well as demonstrating their determination, discipline and commitment to making a success of their trading. And while they may learn from me, I don't profess to have all the answers - far from it. I learn just as much from them, which I can then use to help others.

Trading is a business where you can be cut off from others. Friends and family may frown on what you are doing, or are attempting to achieve in the future. Yes, social media and the like can help to a degree, but the written word can only take you so far. And, just as importantly, how the words are written may resonate with some people , and less so with others. So, meeting or directly conversing with these people helps everyone and avoids misinterpretation, or gives you the opportunity to discuss or clarify certain points.

So it's a busy old time. And I wouldn't have it any other way.

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