MtM Team Update
Posted on January 8th, 2010
Written by Richard
Posted in: N/A (old archives)
Well, we’re a couple months in, and where are we?
First, the good:
- It’s a lot of fun. It’s easier for me to throw out related ideas on a thread than it is for me to make a series of blog posts. So, I’ve been able to share more, more quickly. I’ve not only been talking about my focus areas (right now: Elliott Wave, measured moves, and a little cumulative delta), but also put out regular posts on what I consider to be trading basics (like statistics, and classic chart patterns). And, we’ve even got an in-depth, section-by-section read of Al Brooks limping along at a snail’s pace!
- Plenty of people have signed up (so it makes me about $1k a month, which is nice but proves once again that this is most definitely not a get rich scheme!)
- My trading has been very good lately. Since I post the majority of them to the forum area it makes me really think about what I’m doing. Many trades, but definitely not all, are posted in real-time as they progress.
- It feels good to not worry about protecting the source code to stuff I put out. It’s just nicer to share.
And, the bad:
- The vast majority of the so-called “team members” never post anything. When I ask, they usually say something like “I don’t have as much experience as the others.” This is a very weak reply, in my opinion. Participating is how you get experience. Look at some of the earliest trades I posted here… they are horrible! But I kept at it and I got better. You can either do the same, or you can pay me to sit there wishing you had more experience.
Look at recent posts like action without fear, or concentration without effort, or the sys1 and sys2 update, and more. My message is clear on this topic. Don’t be one of those people that never gets anything done because he’s always reading another helpful blog post on how to get things done. :-) Just do something–anything–and you will be far better off. - Some people join with the idea that people will just do stuff for them (like one wanted an automated system with parameters for them to play with!!), without them contributing anything. They quickly find out otherwise, and a lot of them then cancel their subscription. This is sad.
So, overall I’m happy, but I would love to get the participation level up. It’s been suggested that we institute a “publish or perish” philosophy… the idea being that any serious market student is looking at charts at least twice a week. So, they should at a minimum talk about what they are seeing to the team, or they don’t belong with us. I’m seriously considering this option.
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© 2010 Richard Todd. I am not a financial advisor, and nothing on the site should be considered investment advice or actionable recommendations. I'm just an individual, saying what I think, and sharing my experiences.