Anybody here mentored an apprentice whom later became more profitable than you? If so, were you proud or jealous?
Yes I'm very proud of my apprentice, Rearden Metal. who I believe if he continues to apply himself, may have a bright future in this business.
My guy Riskarb seems to be doing alright. Of course there's Buffett, and Victor Sperandio but I don't think they are on ET. "Waxie" Rennick
I don't have any "apprentices" so to speak, but quite a number of traders I've worked with make a lot more money than I do. Two in particular manage small private funds with ES futures. Why the disparity? I'm not achievement hungry enough... prefer my "play time" spent out in the woods instead. Therefore, envy & ego are right out the window with that. Suits me fine if everyone else in the world makes a ton of money trading... just let me make enough to afford all the hunting & fishing trips I want! Holly & I are going on an Alaskan cruise last two weeks in August 2007... with her parents. That clears me for a couple weeks out west romping thru the mountains later on :>0 Hope y'all make millions
Well, to give a serious answer to my question, I have been teaching my childhood friend via Skype. So far he has been doing very well on the sim and he starts with real money this week. So the near future will tell, but I would feel definiatelly proud if he would be better than me, maybe I could even learn something from him. He had absolutelly no experience with trading and has never read a trading book. I told him he could if he is inclined to do so, but it is actually more interesting this way, a complete newbie. Also for my strategies the understanding of the markets is not important, just the nature and movement of it...
what market ( s ) and time zone ( s ) and time frame will your protegy be trading in ? if he follows your rules and does not have bad habits to "unlearn" ... he has a chance to do well good luck
Does somewhere written in the contract that you will be the absolute teacher or the role can be swapped, then you will be his apprentice.
Intraday indexfutures 5 mins charts. He doesn't always follow the rules, I told him he would learn the hard way, with real money not to do that. I think he needs the lesson.... Here is one day when he let the market go against him by 50 points although I taught a 20 pts stop loss. Nevertheless he ended up still good. This is simulator:
My apprentice became my mentor. I am the apprentice now. Am i jealous? only when im on the wrong side of the contract but mostly proud. i maintain a "consultant" role for his fund of which i am paid a nominal salary of 40k for complete laziness