I have kept a journal for years and now that I think of it, probably since I was 14 or 15 when girls became important. I have always enjoyed writing but for some reason find it harder when typing as opposed to hand writing in a notebook.
Unless you know someone personally, you have no idea what else they have going on in their life. Most of my orders are predetermined and pre-set. I could be at my desk one minute and out the door at a meeting the next. I might not know a trade triggered until I got back to my desk. You will never become a consistent trader if you are always looking to follow someone into trades. The best trades, the trades I have made the most money on, are those that were my idea. Not someone else’s. For fuck’s sake, learn to think on your own. I think Livermore said it best when he said “I believe that the public wants to be lead, to be instructed, to be told what to do. They want reassurance. They will always move en masses, a mob, a herd, a group, because people want the safety of human company. They are afraid to stand alone because they want to be safely included within the herd, not to be the lone calf standing on the desolate, dangerous, wolf-patrolled prairie of contrary opinion.”
Either way, I thought I’d write up a quick post on what Valet Parking has taught me about twitter and stock twits. I think in the near future I’ll write a few about what Valet has taught me about trading, because it has taught me a lot.
For those of you I have skyped with and or DM’ed with know I started valet parking when I was 18 years old, now 27 and I own a valet company. By the age of 20-21 I was the General Manager of the largest valet company in the Twin Cities. Even so, I would still valet and work the restaurants/ night clubs four to six nights a week….bit of a workaholic. Although to my defense I was working with my best friends. It was fun, cash, and never really felt like working.
Being that it was a large company, we had around 150-200 valets that worked for our company, it was inevitable there would be a few bad apples. The worst shifts to work were when you got stuck working with some one that had an awful attitude, complained and would always find something to whine about. I cannot stand to be around negative people. What someone tips you is out of your control, yet with a whiner, the entire shift would be filled with whining and bitching about how much people suck. Fuck that. Negativity is like a cancer and can spread quickly. Someone that is a leader, a superior leader should quickly realize this as they can influence people in either a negative or positive way. I’d much rather have latter leading. I’ve come to realize that no matter how good or bad the situation, a whiner will always find something to whine about. It’s awful, brings down everyone and creates a painful work environment. You’re probably asking what the fuck does this have to do with stock twits or twitter. Well, a lot actually, in my opinion.
I follow a handful of people. Throughout my time I have added and removed people I follow for various reasons. Typically, the number one reason I unfollow someone is when I notice a trend in negativity. I see that Mr. TraderFlorida gets a shit load of crap on the stream. Honestly, I found the youtube video kind of funny. As I am sure he had a great laugh as well, maybe not, who knows. It was sort of like The Roast of @TraderFlorida. Either way, when my stream gets bogged down with negative shit being spewed out, it becomes worthless, annoying, and drains my energy level. It gets in your head.
It’s great following those with a similar style as you can compare your thoughts with theirs? What better than having a great idea or set up, to see someone you respect is looking at the same thing? It should give you give you confidence. I love twitter and stock twits. I follow those that I view have a similar style to me. I follow those that I view as much better traders that I. Why? Because it’s like being the worst player on Soccer team, by being so it forces you to play up. Step it up to the next level and constantly learn and improve.
I don’t have the time or patience to surround myself with those that are going to constantly hate on others and bring negativity into my stream. Why waste the time, simply unfollowing someone isn’t enough?
If anyone has read Think and Grow Rich by Napoleon Hill, he brings up the idea of a Master Mind group. That is how I view those I follow. If you are like me, you trade from home or office. It can get lonesome and Stock Twits has been a great way to reach out and connect to those that Trading is their passion.
I have been trading full time and actively for almost six years. Had some great runs and some real draw downs, blown a few accounts. I traded on a prop desk that had the most negative energy imaginable. On the flip side I learned a lot, met and befriended some of the best traders out there.
I remember watching @BCLUND’s video on how to spot a Douchebag on the stream. At first I thought it made some sense. I watched it second time and thought, really? This is twitter/ stock twits. You should probably have the common sense and knowledge to see that someone isn’t providing any insightful information. And if they are who cares, it’s a social networking site that is free.
Mr. Lund, if you ever read this I mean no disrespect, I just thought the post was unnecessary. I have read a handful of your blog posts and found them educational, informative and very well written.
Lastly, if you are young, just starting out your journey as a trader, don’t expect to have your hand held by those on a free net working site. Be realistic. If you want your hand held and every question answered, join a paid site or trade on a prop desk that offers training and education. Do you really think that anyone cares about you or your trading? Get it through your head there are winners and losers in this game. It’s about a transfer of capital from the accounts of those that don’t know into those that know. Humble is the name of the game.
Unless you know someone personally, you have no idea what else they have going on in their life. Most of my orders are predetermined and pre-set. I could be at my desk one minute and out the door at a meeting the next. I might not know a trade triggered until I got back to my desk. You will never become a consistent trader if you are always looking to follow someone into trades. The best trades, the trades I have made the most money on, are those that were my idea. Not someone else’s. For fuck’s sake, learn to think on your own. I think Livermore said it best when he said “I believe that the public wants to be lead, to be instructed, to be told what to do. They want reassurance. They will always move en masses, a mob, a herd, a group, because people want the safety of human company. They are afraid to stand alone because they want to be safely included within the herd, not to be the lone calf standing on the desolate, dangerous, wolf-patrolled prairie of contrary opinion.”
By no means, do I claim to be a super trader, nor do I know everything. I have had my fair share of experiences. This is a journey. I am constantly learning every day. My point is this. Life is short. In my opinion, you should wake each day with a passion to live and trade, if trading is what you have a passion for. No room for negativity.
If you read this whole thing I apologize for the rant. I didn't really proofread it, oh well. I think next I’ll talk write How Valet Parking Has Taught Me To Think In Terms Of Probabilities.