As a trader you most probably have had the opportunity to join or watch recorded trading group sessions. A trading group can range anywhere from two to as large a group as you feel will be of benefit to you and the group members. A trading group can consist of a forum, Skype group or other means to connect online or in person. If you are looking for a trading group, you are in the right place at the right time. Capital Discussions offers forums as well as online meetings many times throughout the week. It is a very valuable resource. If you choose to take advantage of the education available, go to www.capitaldiscussions.com
It is very important to associate yourself with a trading group who is an inspiration to you.
You can emulate those traders you feel are successful. You can model those participants in the trading group who you feel are an asset in your trading. Also, it is important for you to be a participant in the trading group. All members learn from each other. Questions can help experienced traders as well as new traders think in a new way. You should feel free to ask a question, as well as offer a possible solution to a fellow traders’ problem.
When you find a group of traders who have similar mindset and trading strategies, it can be most helpful to progress as a trader. Finding those traders with similar goals such as trading style, risk management, target profit, max loss etc., can allow you to have more confidence in your trading decisions.
How can a Trading Group offer Support for you as a Trader?
- The right trading group for you will offer emotional as well as technical support when it is needed. Let’s face it; trading has a lot of physiological aspects to it. Fear and greed many times can enter a trader's mind when in a position.
- When you find the right trading group, it will help with being consistent. Most of us are great at starting a task, but sometimes not so great at finishing the task. Support from your trading group, in both the good and challenging times in trading, is so important.
“When two or more people coordinate in a spirit of HARMONY and work toward a definite objective, they place themselves in position, through that alliance, to absorb power directly from the great universal storehouse of Infinite Intelligence. This is the greatest of all sources of POWER.”
- A trading group can help give you POWER which is needed to accumulate wealth. Within the trading group organized, intelligent, knowledge and experience can be shared to create harmony.
When you keep a positive mental state, your trading and life will be enhanced. Your success in trading will increase when you surround yourself with others who have a positive mindset. It is so important to have a group of trading buddies who keep things on a positive note. Your success will give you POWER. Your trading groups' overall positive mental attitude will give even more momentum to trading success.
The confidence you gain from your trading group can help you to master yourself. When you control your negative traits, it will lead to self-control. Controlling yourself will help to bring about the conditions for which you are striving.
When you are part of a great trading group, your education will increase.
The market is constantly presenting new challenges which ultimately present new opportunities. Your trading group can offer new ideas to trade the markets. Or maybe a new tweak to a strategy you already use. A trading group is a creative think tank.
What is a MasterMind and who is Napoleon Hill?
Here is a short bio of Napoleon Hill from Wikipedia:
Napoleon Hill (October 26, 1883 – November 8, 1970) was an American author in the new thought tradition of the previous century, and an early producer of personal-success literature. At the time of Hill's death in 1970, his best-known work, Think and Grow Rich (1937) had sold 20 million copies. Hill's works insisted fervid expectations are essential to increasing one's income. Most of his books were promoted as expositing principles to achieve “success”. Hill was an advisor to two presidents of the United States of America, Woodrow Wilson and Franklin Delano Roosevelt.
In the book Think and Grow Rich, the author Napoleon Hill speaks of the power of the Master Mind. You may like to think of a trading group as a Master Mind. Napoleon Hill defines the mastermind as a “coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.” Your definite purpose as a trader in a trading group can be to become a consistently profitable trader. “He also states one of the potentialities of a Master Mind is the economic aspect. Napoleon Hill goes on to say “Economic advantages may be created by any person who surrounds himself with the advice, counsel, and personal cooperation of a group of men who are willing to lend him wholehearted aid, in a spirit of PERFECT HARMONY. This form of alliance has been the basis of nearly every great fortune. Your understanding of this great truth may definitely determine your financial status.“
The economic feature of the Master Mind principle was called to Napoleon Hill’s attention by Andrew Carnegie.
Mr. Carnegie surrounded himself with about 50 men and woman with a definite purpose of manufacturing steel. Andrew Carnegie attributed his fortune to the POWER he gained through the use of the Master Mind. Your definite purpose as a trader using a trading group can be to become a consistently profitable trader.
Henry Ford also used the POWER of the Master Mind principle.
He was a personal friend of Thomas A. Edison. He also was an acquaintance of Harvey Firestone, John Burroughs, and Luther Burbank (all had great brains) which produced evidence of the POWER which may be produced through minds who have are connected in harmony. The minds within your trading group can work together to create POWERFUL trading methods.
You as a trader may or may not choose to be an active component of a trading group. It is your choice. One of the mentors along my trading path used the term the “Lone Ranger”. When he started trading he traded alone and had no one to partner with to share trades and ideas. He had little success. He then associated himself with great minds and traders with great skills. He became a very successful directional trader and teacher. He attributed his success to being involved with a trading group. Once he was a participant in a trading group, his trading success skyrocketed.
As mentioned before, if you are looking for a trading group go to Capital Discussions.
“I really like the alert services which has helped improve my trading. I generally am unable to attend the trading groups, but learn a lot from the experienced traders.
I like the fact that at CD, there is an openness to a variety of different trading styles.
It seems like option trading is a male dominated endeavor I would like to hear from more female traders in a Round Table presentation or leading a trading group.”
Great trading to you!
Are you already a member of a trading group? Please leave a comment about your trading group successes.