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Trader Buddy/Partner Idea 15 replies

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Howdy Partner!

  • #1
  • First Post: Jan 24, 2006 1:36am Jan 24, 2006 1:36am
Back in 1989 I moved to NYC for romantic reasons. My a girlfriend and I had been dating in San Diego for more than two years.

She left in january and I followed in July. Three weeks after my arrival she informed me that she preferred her life without me and and asked me to leave, which I did. Anyhow I looked for a roomate and found one in a commodity trader; Alex.

Alex had a partner Jim and together they day traded the same maket. Each was independant of the other and used a different strategy but they shared the cost of Futuresource and other office expenses. The real strength, as I see it, of thier partnership was that they held each other accountable in thier trading. In other words neither placed a trade without the others approval thus they made sure that strategy, risk and money management rules where adhered to. Funny enough both were very successful.

I view this the perfect arrangement and if I can find a suitable candidate, I will certainly endevour to set up a similar. I of course live in the far left hand corner of nowhere, so finding such a person locally is a bit challenging. However this is 2006 and we have all sort of marvelous gadgets that enable us to communicate with one another so actually being physically present is not mandatory.

I believe this type of arrangement is really quite superb for both the professional and part-timer. In addition to the previousely stated benefits, the person to person contact goes a longway to combating the loneliness associated with our profession. Anyhow I wanted to share this concept with you and get some feed back as to what your thoughts are etc.

Regards,

Steve
I was here, here I was. Was I here? Yes I was!
  • #2
  • Jan 31, 2006 1:35am Jan 31, 2006 1:35am
Hmmm interesting, 90 views and no thoughts or opinions so far....

"Two are better than one
because they have a good return for their work:
If one falls down,
his friend can help him up.
But pity the man who falls
and has no-one to help him up!"
I was here, here I was. Was I here? Yes I was!
  • #3
  • Jan 31, 2006 3:18am Jan 31, 2006 3:18am
I'd take you on this offer, but I'm sure I'm not qualified for the moment..
  • #4
  • Jan 31, 2006 3:19am Jan 31, 2006 3:19am
Can I have the ex girlfriends phone number ? I am often in New York.
  • #5
  • Jan 31, 2006 3:55am Jan 31, 2006 3:55am
Quoting hagadol
Can I have the ex girlfriends phone number ? I am often in New York.
Ok but understand that she likes guys who have all their teeth, don't have to shave their backs and can count to ten without pausing. If that sounds like you, you may have a chance. Also you must supply your own straight-jacket and I'm not responsible for the outcome.
I was here, here I was. Was I here? Yes I was!
  • #6
  • Jan 31, 2006 4:22am Jan 31, 2006 4:22am
can you please post her picture... lol :
  • #7
  • Jan 31, 2006 4:53am Jan 31, 2006 4:53am
Quoting Liquid4x
can you please post her picture... lol :
She's a blond.
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I was here, here I was. Was I here? Yes I was!
  • #8
  • Jan 31, 2006 5:00am Jan 31, 2006 5:00am
Sterling, I like your sense of humour!

I don't suppose there's any animosity there after some 15 odd years, is there?
  • #9
  • Jan 31, 2006 5:12am Jan 31, 2006 5:12am
Quoting SterlingTDR
Ok but understand that she likes guys who have all their teeth, don't have to shave their backs and can count to ten without pausing. If that sounds like you, you may have a chance. Also you must supply your own straight-jacket and I'm not responsible for the outcome.
Ok, so exactly in which of the above listed requirements did you lose her?

Now on a more serious note - I perfectly understand the concept of few guys "monitoring" on each other's trades to make sure no-one takes a less-than-optimal trade. In fact, I do know a few people who do this, but they follow the same trading system.

My question is: dont you think both partners should follow the same trading methodology? I mean, how can someone judge someone else's trades without being extremely familiar with his method? if one partner (who is very familiar with his system) incurs in a mistake, what are the chances that the other one (less familiar with that particular trading approach) will be able to detect such mistake?

Interesting idea though.
  • #10
  • Jan 31, 2006 6:09am Jan 31, 2006 6:09am
Quoting WTB
Ok, so exactly in which of the above listed requirements did you lose her?

Now on a more serious note - I perfectly understand the concept of few guys "monitoring" on each other's trades to make sure no-one takes a less-than-optimal trade. In fact, I do know a few people who do this, but they follow the same trading system.

My question is: dont you think both partners should follow the same trading methodology? I mean, how can someone judge someone else's trades without being extremely familiar with his method? if one partner (who is very familiar with his system) incurs in a mistake, what are the chances that the other one (less familiar with that particular trading approach) will be able to detect such mistake?

Interesting idea though.
Ideally, yes, the parters should trade the same time frame and similar system. But I really think that even if the systems were different, as long as each traders method wasn't too complex, it wouldn't be a problem but it would require a dedicated chart.

Having said that, it would require a deeper level of focus which probably isn't a bad thing either. Just the knowledge that someone is monitoring your trades would be quite an incentive to perform at your best and would go a long way to fixing some of the common ailments we, as traders, suffer.

Steve
I was here, here I was. Was I here? Yes I was!
  • #11
  • Jan 31, 2006 7:28am Jan 31, 2006 7:28am
Expanding bit further....as long as one shares the same time zone, trading hours and ideally a similar time frame, it could all be facilitated via instant messenger or Skype.
Ultimately though, I think this concept would appeal to only a few traders due to the fact that there is some sort relationship involved, which of course means being stretched beyond ones comfort zone.
Then again, that's the nature of this business requires, isn't it?

Regards,
Steve
I was here, here I was. Was I here? Yes I was!
  • #12
  • Jan 31, 2006 12:29pm Jan 31, 2006 12:29pm
Quoting SterlingTDR
She left in january and I followed in July. Three weeks after my arrival she informed me that she preferred her life without me and and asked me to leave, which I did.
oooohhh the pain!!! oh it hurts so bad. let this be a lesson to you young bucks out there!

sterling, i feel ya on the partnership thing. its helpful just to have someone to bounce ideas off, and the benifits can go well beyond that if your partner is on the same wavelength. it seems these relationships develop naturally, so if you are able to get something like this going you should consider yourself very lucky. after all these years im still a lone-wolf trader. although the FF crew is all the partner i need
Relax and be happy.
  • #13
  • Feb 1, 2006 1:55am Feb 1, 2006 1:55am
Quoting merlin
....sterling, i feel ya on the partnership thing. its helpful just to have someone to bounce ideas off, and the benifits can go well beyond that if your partner is on the same wavelength. it seems these relationships develop naturally, so if you are able to get something like this going you should consider yourself very lucky. after all these years im still a lone-wolf trader. although the FF crew is all the partner i need
I agree with you Merlin but to take it a step further....
Typically these types of relationships do not develope through forums on their own. Forums are annonymous and generally people like to keep things that way.

Forums like this are good to a point but have their limits. For instance I cannot help you with a problem you have if you are not aware you have it. If, however, you and I spend some time working with each other, I will have a chance to observe your trading and can pick up on some weaknesses that you may not be aware of.

If I have a problem I can share it here and get 20 different responses from different people and who's to know what is good council and what is not?

It's comfortable in a forum. You don't know me and I don't know you and neither of us is accountable for what we say. We can get our daily dose of "trader chat" and feel good without the hassle of being really challenged on anything.

On the other hand a forum can be a very useful medium for establishing friendships/partnerships which could, given the opportunity, be mutually rewarding. It could, in fact, be used in much the same way as a traders expo by establishing networks of contacts were you can pick up the phone and say "hey so-and-so, what do you think about this.....". We should explore other avenues for our developement as traders and as people don't you thinK?

Regards,
Steve
I was here, here I was. Was I here? Yes I was!
  • #14
  • Feb 1, 2006 2:31am Feb 1, 2006 2:31am
if you were a hot chick I'd partner up with you right away lol
  • #15
  • Feb 1, 2006 3:07am Feb 1, 2006 3:07am
How do you know he's not ??

On a serious note, I trade with a husband and wife couple (no rude connotations, please!), they originally introduced me to Forex. Although I'm the comparative newbie out of the three of us, we have discovered we all have something to bring to the party (I like to check out forums, the others are fab at dissecting technical info and putting into understandable terms, and backtesting etc).

Although, ultimately, the decision to press go is our own, the 'check and balance' when deciding to place a trade is an enormous comfort factor and on good/bad days, someone to discuss your situation with is invaluable.

Cheerio, Jacquie
  • #16
  • Last Post: Feb 1, 2006 8:47am Feb 1, 2006 8:47am
i think having trading partners to bounce possible entry and exit points off, is a great idea
another INTP
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