Been a while since I lasted posted so I thought Id write something up. I had my phone call with the funded team with TopstepTrader, we spoke about my strategy, goals and expectations moving forward. No surprises everything is as it was outlined on there website. The entire funded team will not be trading until the first week of the new year, this is great as over the holiday season volume and volatility can get really erratic.
It’s a perfect time to look back on the year and reflect on your trading, the good, bad and the ugly. I will be working on my trading plan for the first 10 days of the Funded account with TST and thereafter. Writing all my goals down for the new year and how I will take the steps to achieve them.
Another on my list and one I have been working on for a while is the Mentorship Program and Live Trade Room. I added a live trade room a few months agp to the program as an experiment to see what the response would be like. I can tell you its both good and bad. The expectations of people when you have a live trade room is enormous. People think you will make thousands and thousands of dollars infront of them every day and its just unrealistic. I have seen more people give up since I started doing the live trade room then the whole year I was training people 1on1 and trading live with them 1on1
Also to tell you the truth, I found it difficult. I usually watch two markets very closely and it defiantly hindered me from doing that. I could only focus on Crude, answer the questions and trade it. Typically, I would watch Crude and follow the ES as well. On the good side it did keep me in check, I did not overtrade as much when I have students watching and I was more patient.
The biggest differences that I seen from training 1on1 and in a live trade room is the students who have worked with me 1on1 have been more dedicated, asked more questions, wanted to trade on there own and have learned more lessons by trading on there own. Not only that but they have dissected my strategies and made changes to it to make it there own. Adding a new chart, time frame, moving average or trade setup that makes sense to them and fit it within the risk/reward system. This is where I have seen the most success and I do believe its for a reason.
My conclusion about the trade room is it has its benefits and draw downs. I really think it attracts the wrong type of newbie trader. Most people want to come in take my trades, copy me and be rich. It’s the complete opposite of the reality of trading. You can tell people this but they will never listen, its sad because they will blow out multiple accounts. I know because I have and it’s a terrible way to learn.
I’m seriously considering to go back to 1on1 training and trading, I truly think it benefits both my students and myself moving forward. There is such a stigma on people education others in the industry because of the history of scammers out there.
Makes me think if it’s even worth it, people will tear you apart whether your consistent or not. Doesn’t seem like any proof really pleases anyone whether its live trading from the charts with a DOM or even showing a few account statements or passign TopstepTrader to get fudned.
If you have any thoughts, feel free to email me directly or add me to Skype.
Thanks for reading my long post and speak with you soon!