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Remote Trading…

Trading from afar: This week I am trading remotely as I am not in our NY office. I can say that it has been so far a good experience. I have set myself up with a couple of screens and have found that traders can do with what is available; the most important component in my opinion is RAM for the computer and a good internet connection. I didn’t have access to CNBC but found out that you can get the live feed through the internet for $10 a month – what else to you want. So once everything is set up, the markets, prices, and the flow is the same for everybody. The only difference was the lack of being able to talk to your fellow trades to bounce ideas around.

 

BUT at Keystone, we have an internet mentoring room that allows us to stay in touch. In many ways it can be the same as sitting in an office with fellow traders, but with the added advantage that you have a larger diversity of people with different experiences and with different skills sets. We are continuously exchanging ideas on the markets and keeping tabs on each other to make sure we are not in an equity “position” you wouldn’t tell anybody. In other words, can you justify the trades you are getting into to? It makes you think. And that is what mentoring is all about – keeping traders on track to a plan that works for them.

 

This is the key in finding the discipline to trading. Can you back up your though process to other traders, who see the same chart and have the same information as you? You should, otherwise the trade is most likely a low probability one. The mentoring room also reduces the costs of the learning curve for that reason alone, others will let you know if they have tried something that doesn’t work. We all learn from each other.

 

http://www.keystonetradinggroup.com/concepts/mentoringprograms.htm

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