”If you want a friend, get a dog.” Rob Booker
A few years ago a work colleague of mine Pete, decided he wanted to get himself out of the rat race and move up to live on an isolated island off the north of Scotland. Pete was not just a dreamer. He sold his property near Derby and just went for it, eventually buying an old croft style dwelling in the middle of nowhere, in what he thought was a totally uninhabited part of the world. Anyway he was sat in his home one wet and windy Scottish night, warming himself next to his peat burning fire, when he heard a loud, slow, knock at the door. On opening the door he was confronted with a giant, rough looking, red bearded Scotsman, wearing traditional Highland Scottish clothing. Tartan kilt (Skirt), with Sporran (Man Bag) and a Tam o’ Shanter (Hat) in the Glengarry style. Anyway Pete politely said hello and invited the Scotsman inside to warm himself by the fire and to drink a hot Toddy. This is how Pete described the conversation that passed between them;
Pete: What brings you to my home, I thought I was all alone on this part of the island?
Scotsman: Oh noo noo noo yourre not aloone? I’ve come to invite you to a Hurrlie.
Pete: What’s a Hurrlie?
Scotsman: It’s a Gathering. (Scottish term for a meetup of people.)
Pete: What happens at the Hurrlie?
Scotsman: Well there will be lots of drinking, lots of dancing, and lots of shagging. (Scottish term for sex)
Pete: That sounds great, who’ll be going?
Scotsman: Well there will be yoo, there will be mee, and that’s about it !!!!
Have you noticed how trading educators like to create communities. Everyone in the community is supposed to be happy and friendly and will help anyone else in the community with their trading. The problem with this is, that you pay your fees to be educated by the organ grinder and not the monkey. Traders in the community who suddenly have a run of success, overnight become like ‘all knowing sages’ themselves, as if they’ve had a ‘eureka’ moment in their understanding of the reasons for success, and now want to impart their new found wisdom on everyone else, when possibly they have just been fooled by randomness. Others who do well can be motivating, however sometimes I wish they would just shut up. Why is it everyone in this community appears to be a trading success and I am not?
Sometimes I wish it was me that shut up. Recently I decided to go to a traders meetup group I found on the internet in Derby, UK where I live. There was about eight of us. There was a couple of young lads who’d just been on a trading course and after I’d heard what they had to say about the course, the all knowing sage in me thought, ”They are a couple of naïve suckers who have just parted with their cash for a load of b……..” When asked about my style of trading, I explained about my short term forex style, and almost swaggered when I told them about my blog. I also managed to get a little dig in about how I thought certain ways of trading weren’t likely to succeed, which just happened to be like what the two young guys had been taught on their course. One of the older speakers was a long term position trader, who after he’d explained his methods went on to explain why it was not possible for anyone to be successful at short term trading. A short term trader who had spoken earlier, raised his eye brows in my direction in the ”he’s talking out of his a…” manner, to which I politely nodded. Another fellow who admitted to not knowing a lot and had brought a notebook and pencil to do some serious note taking left early when he realised we were all sucking wind. The wifi was really slow and the host couldn’t put his own notes up which were on his laptop so he waffled on about nothing. At the end, as I walked out, I felt rather ashamed of my own thoughts and contribution during the meetup and vowed never to go again. We were all really there to share experiences, help each other and so on, but in the end it was like a pecking order challenge, where no one won and everyone came out a little worse off. I’m 54 years of age, I should know better by now.
The first sort of trading community I was in, was part of the first course I did at Sid Wyeman’s forextrainingworks.com. Part of the community was a weekly Sunday webinar, where upon logging in you saw all the names of the other members and any questions asked. The usual format was at certain stages of the webinar everyone was asked to put a Y in if they understood or agreed with what was being taught. You would see all the Y’s coming in and it almost got to the stage after your head started nodding in agreement you couldn’t stop it and would put a Y in even if you disagreed. I remember on one occasion someone plucked up a bit of nerve and put a N and asked the question, ”When you said get out when price starts going against you, what do you mean?” to which Sid answered, ”What do you mean? When it’s going against you, it’s going against you!” I left the community after that. That’s not to say Sid couldn’t trade or teach because the explanation of when to exit a trade is one which most educators fail to deliver. They are big on entries but how often have you heard the ”Cut off losers short and let your winners run,” nonsense.
Another community I once liked to be a part of was the comments section of the traderspodcast, which sadly got taken away after a mass brawl disagreement in the comments section. It was actually quite exciting as I would login to see if some else had joined in, or something new had been added to the mix. I’m sure a few left feeling a little pissed of with themselves for their contribution, just as I had done after my shame after the meetup group.
I’ve never really done forums myself and I hear that anyone appearing quite successful can often be left with a bit of an anxiety problem after all the trolling they get. Why do people troll rather than just not take part. Probably for the same reasons I shamed myself at the meetup group, but in their case they get so wound up they can’t let it drop. The best forum I’ve ever been on is traderAllen’s at wallstr2easystr.freeforums.net and I was a big participant at the start, but I felt I was annoying Allen a little with my continuous, detailed, interrogation and over analysis of his methods, which is totally a fault of mine, and I do apologise for that. I felt my own style was just going a bit too far away from Allen’s and that I needed to do my own thing more and not upset the Ch’i Allen was developing in his community.
I’ve never been much of a group person or joiner in really. I often find I overstay my welcome (been barred from a few pubs in my time). I personally like following blogs by ordinary down to earth traders and add a few comments myself, but without getting in too deep so I embarrass myself, but the ones I had been following like, Matt LaCoco, Shon Campbell, Ryan Herron have all but stopped writing, as their trading and now their own education business’s have taken off. All that’s left is ddtrader who is trading the short term charts and puts up his journal, warts and all at traderAllens forum. Great stuff.
I’m writing a lot of this stuff really to say how personally I’ve been very disappointed with my own experiences of trading communities, which may just be a fault of my own. As I try to understand my own psychi I have to be totally honest with myself, which may not gain me many admirers, as I air my dirty washing in public. I actually have another name I use, ‘Tiler Foux’ which is an anagram of ‘fxoutlier’. I use it sometimes to go to webinars and forums, where if I make an rash comment, no one will know it is me. I was in Trader_Dantes Sunday night webinar last night as Tiler Foux. At the start he mentioned how it was a packed house tonight with all the big names here, Soros, Kriel etc. Later on when it was getting a bit boring and nobody was asking any interesting questions, Tiler asked him if Soros had asked any interesting questions? I’m sure something was going behind the scenes, as Dante was struggling to stop himself laughing at something as he spoke. I’m sure it wasn’t my witty Soros comment, as I’m sure I could hear someone else with him doing something.
Anyway I hope this was something different for you to think about. Maybe I’ve pissed you off and you want to troll me. If not, I’d like to invite you to a Hurrlie. Any takers leave me a reply in the comments section.
Not many comments expected this week.