Trader Meetups (Part 16)

I have spent the better part of two months discussing topics related to trader meetups.  The time has come to tie up some loose ends.

I meant no insult to beginners in part 8 where I described my concept of the real trading group.  Recall that the real trading group has a shared goal between all members and the group itself:  use of advanced understanding to become better traders.  No conflict of interest means no optionScam.com.  As with everything else, all traders [including me!] start[ed] as beginners.  The label implies neither good nor bad:  just matter of fact.  Beginners have no advanced understanding, though.  In an advanced group, beginners would be a source of imbalance and distraction.  Focus cannot be maintained when having to stop frequently and explain basic tenets of trading, which is what beginners would need to make sense out of real trading group’s work.

By definition, the beginner has little to offer the advanced trader.  When beginning and advanced traders interact, the advanced traders are either getting paid for their services or are looking to “give back” in the spirit of charity.  No other arrangement makes sense so beware if you see a situation involving both levels of expertise (e.g. meetup groups).

To get ahead in the markets requires a tireless work ethic to complete the work described in part 4 and part 5.  Lazy attitudes and freeloaders will not prevail.  Malcolm Gladwell’s “10,000-hour rule” may be a good approximation to quantify how much effort is needed.  Trader meetups led by commercial organizers, unfortunately, are not designed to help with any of this.  Such meetups often begin with food, drink, discussion of lavish vacations or living in tropical destinations, and other themes designed to immediately activate the brain’s hedonistic center through release of endorphins.

This is more about psychological manipulation than honest effort to improve trader efficacy.

Some call it sales tactics.

I call it optionScam.com.