Here’s a wonderful piece by George about the merits of building your own network of Trader buddies, something I fully endorse.
One of the reasons I started the London Traders Network was to allow the chance for private traders to mix with like-minded souls and build strong buddy-buddy networks. The military works on the ‘buddy-buddy’ networks system to make sure the entire team works well. Now admittedly in private trading you’re on your own, but it still helps to have a good buddy to help ensure you don’t make/repeat silly mistakes and to cover your blind spots.
Furthermore private trading is a lonesome endeavour so its good to get out from behind the screens and mix with your fellow traders. We are after all social animals, and even the most committed shy introvert needs to speak to someone now and then. Also no one really understands your journey quite like another trader does. They understand the bad days and the good days far better than anyone else.
I thoroughly enjoyed meeting my trader buddies and getting the chance to socialise and learn from each other. We used to meet every two weeks for a session of trader chat, sharing tales and experiences and helping develop each other. They were immensely useful and enjoyable sessions.
A couple of weeks I wrote about the benefits of working in a trading office alongside other traders. Though I realise not everyone is able to get into this type of arrangement – whether it’s a case of being able to find an office venue, traders to move in together with, or simply living in remoter areas where no others traders abound (or anywhere in Belgium apparently!).
The next best thing to being in a trading office is something along the lines of a “Trader Buddy”. I decided to write about this today because I got into a trading buddy relationship just recently and it is already paying dividends for both of us involved. And I think many aspiring traders could benefit from this type of arrangement.
Even though I am now working nearby some other professional traders (see photo for my view from my desk on Friday morning!), I…
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