I watched an interview with Jerry Seinfeld recently. He was asked what he was going to do to help teach the next generation of comedians. He said "Nothing. I don't owe anyone anything". That's impacted me quite a bit. I used to think, "I need to eventually try and treach what I have learned and give back to the community". I realized, what ive learned through thousands of hours of trading and chart studying is mine. I don't owe anyone anything. It's something worth thinking about.
Long ago I thought that way, but helping others is like helping yourself, it been countless times of making a chart for this forum and ideas come my way from doing so. I am not saying of sharing your best material, but something or anything to reinforce principles for younger traders. Can you imagine Seinfeld somewhere, he got a flat tire, no cell service and his spare is flat and 25 miles from last exit, who owes anyone to stop and give air or a ride. He walks 12.5 miles/keep checking his cell and what was mild breeze has turned into almost white-out conditions strong wind and dark clouds appear... I barely see him and hit the horn and wave as I keep going... doesn't help having 250 million in the bank either. If it was Jason Alexander, I'd stop for him. Better to offer suggestions, but to make someone do tough way of life, perhaps he doesn't want to tackle it, and is this really your "feelings" than him? There are many who come to this way of life who never have the passion and if they did, they be studying on their own in the 2 years? I have found people can only remember one main idea at a time, and practice this for weeks. I like ishibuku clouds, didn't find them hard to use at all, then I found out I was using them wrong, but didn't change how I used them, LOL I have gone way out of my way for close friends to learn/profit, one takes a laughable aim to understand and the other does hard core programming for automation. People either have deep desire or they don't want the challenge. imho
@Nobert, are you implying you can simply transfer your edge onto someone else? The best you can do is be inspiration and offer help, the rest is a personal journey.
That kind of attitude gets NO RESPECT in my book. On a separate note: "You may have to quit for awhile and sell some paint, but you don't have to give up your dream."
They wrote in the ,,Road of the Turtles", that once they did that, (those 2 traders, with the group of 20~ chosen ones), while, everyone was trading, the same things (oil?), people still had different results & on the top of that, one participant, because of his own, insufficiencies & flaws, of character traits & discipline, went paranoid on idea, that those 2 mentors, were sharing some secrets, with the best perfoming members and that's the reason, why hes failling. To answer your question, wanted to change name of the topic, 5 mins later, after it was made, ( sound narcissistic/egoncentric in some way ), yet, i was unable. Thanks Qlai.
@Nobert: I probably have to disappoint you. Been there, done that. You probably already understood that it takes an enormous amount of sacrifice, dedication, endurance and creativity to be a profitable trader. It also requires you to be an independent thinker who listens to nothing and nobody but yourself and the result of your research. I hope you also understand that this is not a one time effort à la once you've done it, it becomes easy. Like in sports, the slightest bit of slack worsens your results. Third, and I think this is the most important trait, you have to be clean and razor sharp in your motivation, meaning there is only one reason to do it: you want to trade. Way to many people trade because they want to get out of their shitty lives, because they want to improve their social status, belong to a certain peer group, they love gambling, want to make a lot of money etc. but those are not strong enough to tie you down to your chair for 8h each day for 3 years straight, which I think is the minimum amount of time to show some meaningful results. Your gains are a result of all of the above and until you find a way to share all of your experience as well as your way of thinking with your friend, sharing your techniques will not make him profitable. When the student is ready, the master will appear....and your friend is not ready. It's very noble of you to help him on his journey but I've been there many times. All I can say is that it will be a huge disappointment for the both of you.
You are very welcome, Norbert! It is nice to hear that your wisdom already puts you to question, the measure of help you will give in trading. it is also nice to read so many nice posts since yesterday - all of us are facing the same problem. There is an old thread in the hall of fame here about tutoring. The Wright brothers paragon is really brilliant. But are you sure it is intuition and not mind research? Intuition brings us to the world beyond what is known and could be explained. Can we judge people's motivation a priory and make a decision? Who we are - life is showing the next step, an opportunity to help someone, then the meeting is settled. Once there, if you will not have the energy already barred by previously build barriers of thoughts, you will have more and clearer details. As for the money related question - I stopped to call friends those with whom you can not touch the money argument. Yes, money is to satisfy a primary need, but it is also an old deeply rooted inner barrier for each of us on the road to unfold our wings - if a person has not resolved his own relationships with money, how can you trust him? And how is it possible to be a friend with one who is not real, and will inevitably change accordingly the money flow in or out from your account? Our time deserves to be spent wisely, there are so many books, waiting to be read, so many places to visit with unseen sunsets and sunrises, untested yet food, unattended theaters, concerts. So many people in need for help, so many for each of us to do - why waste time and create a base for the future bitterness? On the other side, a trader-to-be is normally going through all type of negative influence in his surrounding (except those lucky to be born in the trading family), who do not understand and do not accept trading as reality. The support of like-mindedpeople is priceless. Andersen'sold, good "Ugly Duck" We use our stop losses always (mental or real), and you already put your excellent stop loss with him: - soon you will discover if he is a swan or is still aduckling... Enjoy, fly, you are a profitable trader, better will be. Will be interesting to read here how this meeting went.
Thanks Handle123 Thanks Muppet. Iv read your post 3 times & i agree , - with everything. I will share a post, here, on May, about - how did it went.
You know, this is a topic deserving its own thread. There are two types of motivation: "Towards to" and "Away from." Many people say they LOVE to trade. What does it mean exactly? Trading is a stressful and demanding JOB. Common view is - you love the activity so much, you would be doing it for free. I don't buy it. So I'm thinking that it's really some combination of the two ... Some "away from" and some "towards to." The middle path. Thoughts?