Have anyone experience positive trading results to trade together with another trader or should one stay away from this. I have read in Market Wizards, think Ed Seykota, that if you put two traders together you get the worst of both. Anyone experieced with trading together or rather alone?
I prefer to trade alone. That way I'm not influenced by any outside factors, people or otherwise. My experience in trading with others (in an office) back in the mid 90's (when I was less disciplined) was that I sometimes was influenced by others in the office and did take trades that didn't meet my criteria. But .... everyone is different.
Doesn't work out... Each 2 traders have to be independent... once the independence is there... it's not a matter of working out or not... and works better in return...
Are you talking about trading together in an office type setting or via a chat type of environment? I've never traded in an office, but I've trialed a few of the different "services" just out of curiosity and found them quite distracting. You may want to give such sites a try to see if they are worth your time. (My main distraction is my two year old who hands me my vitamin every morning ) I talk with a buddy of mine a few times a day who is the head trader at a hedge fund just to shoot the breeze and get a feel for how his day is going, but that's about it.
I think it depends on the traders. I trade in a group environment (via chat), and in the morning, everyone posts the symbols of the stocks they're looking to get into. I've posted some very nice winners which has helped others, and they've done the same and spotted good trades for me as well. It's a group environment, and the benefit is you get 15 pairs of eyes looking at the market instead of just your own and helps identify movers early on. Again, it depends on the group. It's working out well for me. FastTrader.
Should trade on your own. It won't work out. It always turns negative. I agree with Seykota's statement. Good Luck! trend
Agree with Ed. S. I stopped watching cnbc a long time ago as at one time I started to actually believe some of the drivel the so called experts were giving. I kept a record of these comments and after some time had passed assessed how well they did. I found that fading the comments was profitable. So now. no more cnbc for me. I also think if you trade in a group or with someone else you will at best be distracted. DS
Thank you very much for all the comments. Trade by yourself without other's opinoin seems to be the best.
Trading with other traders is a VERY good idea. You need to find a group who trades the same way you do. All the chats have 100s of groups. ET has a chat too....but they tend to jabber on too much. With all that is out there, you should have no problem. Chats work great. So does having someone in the trading office to work with too. You will encourage each other. You can pay for it, or it is for free....your choice.