Trader Teacher?

Today I present a hodgepodge on what I might be able to do with regard to teaching retail traders or IARs.

Stepping back to look at the process, I feel I’ve done this the right way. Nothing is ever guaranteed, but in the absence of better ideas people are often interested to emulate those who have had some success. To this end:

• I’m disciplined: I worked 60+ hour weeks for the first three years.
• I’m disciplined: I’m at the trading desk almost every single day before the equity market opens until after it closes.
• I don’t overtrade: actual trading takes up a fraction of my workday (see second-to-last paragraph here).
• I remain on a constant quest to learn: I read articles, I read books, and I watch webinars.
• I have worked to develop my strategy and I trade that plan regularly and often (as a “Trader in Securities”).
• I place a strong emphasis on testing.
• I continue to look for others with whom to collaborate on research projects (see third paragraph here).
• I have losing trades.
• I have losing years.
• I’m always fearful.
• I don’t brag about performance.
• I’m always grateful.
• I maintain this blog to hold me accountable for ongoing tasks.

I have accomplished my goals to date and I have few complaints (exception: second paragraph here). I can can lose it all going forward, which serves as strong motivation to look for a better alternative or supplemental approach.

I would never hold myself out as a trading service. I don’t have all the answers, but I certainly don’t think any premium service does either. Why can’t I do what they do, then? I wouldn’t feel comfortable representing myself that way.

If I knew when I left pharmacy that I could pay a fee to accomplish what I have, then I would have forked over a hefty sum ($thousands). I made good money as a full-time (plus overtime) pharmacist. That was also shaving years off my life. For the last 13 years, I have been able to replace income and save the wear and tear on my body.

I have long shied away from the idea of getting into trader education because I believe some decent mentors do this well in the face of many fly-by-night charlatans. The good ones already have the infrastructure and experience. I would be more like a makeshift math tutor trying to cobble resources together.

Good* trading mentors and educators are worth the money they get for their efforts, and I’m sure I could do the same if I applied myself. Several years ago, I surveyed a number of trader mentorship/education services. The average rate seemed to be around $300/hour. That is less than $6,000 for 18 sessions. This seems fair. I would be heavy on the disclaimers to start because I want people to have reasonable expectations. Knowledge is never a guarantee, but I could share many things from my journey that I deem critical to the endeavor.

* — Separating the wheat from the chaff is a whole other discussion.