Trading Partners

Discussion in 'Trading' started by retire45, Nov 20, 2008.

  1. 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?
     
  2. nkhoi

    nkhoi Moderator

    be supportive, tell him, he needs a long walk.
     
  3. "Fade" him. :cool:
     
  4. Think I will be in "meetings" all day tomorrow... I can see a trading room being a strange place... Followers only need apply..
     
  5. Trade what you see and NOT what you think - :cool:
     
  6. Dump him. Trading is not a team business.
     
  7. Why did you have a trading partner in the first place. ???

    If you two team up because you share the same trading approach (same market interpretation)...

    Now he's consistently doing the opposite.

    It's time to find someone new.

    However, if you two never were using the same trading approach...

    Don't complain about what he's doing now.

    With that said, how does his trades ruin your Short trades ???

    You make it sound like you yourself weren't sure about the market direction and allowed his trades or thoughts have impact on your trades.

    Takes two to tangle.

    Mark
     
  8. He simply thinks we "support" each other as trading can be be lonely.. Trades were ruined in that I was quite set to do nothing today except check my shorts mid-day but he calls, riles me up about the huge gaps in my favor and an hour later I have covered POT at 59, sold TWM at 152 and actually try a long trade.. all to my chagrin... ALL MY FAULT no doubt.. I did the clicking..

    It does take all of my will to stay the course on an intraday basis so someone constantly blabbering going long then at days end complaining of how he missed all these short opps.. is at the very least distracting... I will simply state event that will change my mind to long and until then I don't want to hear it...

    I think most traders prefer markets going up and sometime try to will it to be so..
     
  9. I wish I had a trading partner very good at daytrading so I can just shadow his trades and not stayglued to the screen during the day then I come up with the multi day trades when he's too tired after the close. I have found it's hard to do both, daytrading takes too much time, you lose sense of the bigger picture.

    But it won't happen because he would have to be profitable every week, and be right on direction 70% of the time.
     
  10. monti1a

    monti1a

    I think deep down inside you know it's your own fault that YOU "messed" up your own trades.

    I think deep down inside you know that only you are responsible for your actions with regards to your trades...I mean come on.....your trading "buddy" didn't put a gun to your head.

    I must say, retire45, that I'm a little surprised at this thread because you are an experienced trader. Blaming someone else for your failed trades is a rookie move.
     
    #10     Nov 27, 2008