This WILL Make you Better!

Discussion in 'Trading' started by rossmedia, Apr 30, 2006.

  1. There are few materials, seminars, conferences that have made a CONSISTENT profitable change in my trading over the years. Yes, some books are great and one must understand the underlying factors of charts, patterns, tape, personal and market psychology but the following, imo, exceeds by far all methods of becoming a better trader.


    Now teaching does not mean you have mastered the discipline you are instructing, if that were the case, Coach K, John Wooden, Phil Jackson, and Bear Bryant would not only be hall of fame coaches, but hall of fame players.

    Many times the ability to coach or teach effectively is birthed from acknowledging the gaps in your thinking that are easily expressed but difficult for you to personally master. On the other hand, a great player or trader can many times stay in a mediocre place because they need an objective articulate individual to materialize thoughts that they never had the ability to explicitly express.

    When I explain what I'm doing real time as I'm doing it there is a dynamic that disallows for me to get into hope mode. Whether it is pride, embarrassment or whatever, someone looking over your should, even if you are the experienced one, is a great thing.

    That is why a back office Risk mgt dept. is a great thing. The more years I trade the more I realize that someone watching over your shoulder (even electronically) makes you a better trader.

    For what it is worth, try to let a couple of guys watch you trade and explain every entry, stop, exit and setup. I will promise that you will make less mistakes, if for no other reason than you just want to impress. Whatever the reason, a better PL doesn't care how you got there.

  2. Maybe teaching others just helps me...:D
  3. Cheese


    Well, hell, if, showing or teaching others, works for you, fine.

    But I can tell you from the perspective of this business, that big players, usually institutional but can be a very successful individual, are all guarded about their trading calculations and secrets. You don't put time in at the highest levels, to give this information away.

    But if you just said what helps most, I might say gym. A regular exercise regime, without over doing it, makes the brain function better.