Updated Meetup Hopes (Part 2)

In an effort to network with other traders in my new state, I have been messaging people from a few pertinent [dormant] Meetup groups. I recently got a response from one claiming to know a handful of interested traders who asked me to compose an e-mail describing in more detail what I am looking for. I continue the e-mail from Part 1:

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This is another place where compatibility fits in.  I believe becoming a good trader means building number of occurrences, repetition, and discipline.  Not everyone lives by these virtues and I probably won’t work well with those who don’t.

Either of the previously-described group formats could be a destination. In a structured manner, we would be pursuing serious, consistent trading with the potential for solid profit potential. This might make driving to a central location more feasible. I can also see much of the work being done online through Skype, Zoom, or Slack. In going that route, I would still like to at least have periodic social gatherings.

The previously described formats are highly-selective structures that beg for substantial individual commitment.  I got one reply from a Meetup member saying he applies a fundamental approach to stock selection that he complements with a few technicals.  I see nothing wrong with this and yet, it’s not something I would do.  First and foremost, he trades stocks—not options. Second, it’s unlikely he would be interested in an option group if, in his mind, he’s onto something that works (why would he continue to do it otherwise?). I would not be in one of the previously-described groups with him. 

As an aside, the [humility to] detect and abandon flawed methods for something better stands in juxtaposition to the host of people who tweet on social media about trading accounts going “to the moon,” making money hand over fist, and trading services that advertise outrageous performance. I’m not sure what the trash talk and braggadocio is all about, but I want to improve regardless of how well I may have done thus far. I would prefer to discuss my current strategy development rather than actual trades because I hope to morph the latter into something more comfortable and secure.

I hope one of the benefits of my experience is knowing where I need to improve.

Stepping down in sophistication, we could have a group of diversified traders who informally share trades and strategies, discussion about the economy, market predictions, etc. Personally, this would allow me to meet people although it may not result in [much] professional enhancement. I think people would be less willing to drive distance for this since it doesn’t offer the payout potential of the more sophisticated formats. This format would be more suited to beginners.  I wouldn’t want people who think they will take without giving, though. I would suggest a mandatory contribution of either money or content. 

The dream, as written about in so many investment/trading books, is to leave the employer and trade for oneself on a more flexible schedule from any desired locale. The conundrum for many, I think, is that the dream can only be accomplished with full-time effort that most people cannot afford (i.e. quitting their job).

I hope we can make something happen!

Sincerely,
Mark