Learn to Trade or Follow Trading Room Calls?

I’ve been at this business of trading for almost 30 years now, and the business has gone through some tremendous changes in that period. The biggest change is, without a doubt, the influence of the internet and the establishment of e-mini trading rooms, e-mini educational programs and a host of other developments related specifically to futures trading. 주식재테크

After retiring from institutional trading via an early buyout offer (nearly 8 years past), I began teaching individuals the principles of trading and running a small trading room. I like things simple so I always kept my trading room small and mentored every student on a one on one basis. Assembly line e-mini education just didn’t seem feasible to my way of thinking.

Early on in my second career of training individuals who wanted to learn to trade, there were very few trading rooms, maybe fifty or so. That is a simple guess from my point of view, as I never took the time to actually count the number of rooms in existence. Oddly enough, most of those rooms are still in business and succeeding.

One nice thing about my job is that I get to chat with a sizeable number of individuals wishing to learn to trade. Back in those days, fresh off Wall Street, I was a gruff old sort and didn’t care to befriend many of my room attendees. My attitude was to intensely train students and hope they could conceptualize the principles I was trying to convey. It’s a tall order for sure.

I still get to chat with a number of individuals wanting to enter the trading business on a daily business and I am a bit softer in recent years, able to relate to the problems facing fledgling traders.

But I’ve noticed a subtle change in what potential traders search for these days; they want to make money. This is a fine thought, by the way. After all, the end desire all competent traders is to earn a living in this business.

But things have changed, especially in the last year or so… a large number of the inquiries I receive are not concerned with learning how to trade, but looking for a trading room where they can make money. Many of the potential traders I chat with are simply disinterested in the lengthy process of actually learning to trade; this process can anywhere from 3-6 months (by the hardest working and naturally talented individuals) to several years. (for individuals who have to work a little harder and trading does not naturally resonate with their thinking) Either way, I’ve had a lot of great students who have succeeded wonderfully and take pride in watching their success.

I don’t get many of those types of individuals anymore, and quite often the first question I receive from a potential trader is, “how much money can I make trading in your room?” I have observed this line of thinking accelerating in recent months, and more than half of the individuals I speak with have very little interest in learning to actually trade. No, quite often the new inquiries are centered on following trading room calls and mimicking whatever the trade room barker has set as his trade set-up.