trading companion
- Thread starter Ara
- Start date
- Watchers 13
Right. A trading partner could serve as a valuable sounding board and bring a sense of balance to trading strategies.
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Ideas working together can overcome obstacles in the mind and offer novel approaches to problems.
Over-relying on a trading companion can have drawbacks. It might lead to complacency, hindering independent decision-making skills. Dependency may also amplify losses if the companion makes mistakes. Diversifying information sources is crucial for a well-rounded trading approach.
In my view all trades should be done at your own discretion, independent of action of others. What you can do with your companion is to develop a trading system together but it's not the same as following advice of other in a high-pressure environment when you are vulnerable and may be prone to listening to others.
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that sentence has two points of view..... left to right, ourselves being over reliant of others..... right to left, would be others being over relied on by us.....
over-reliance is in itself a drawback no matter which direction, for the most part..... to be clear, i see compatible groups as a positive......
over the years i've been involved in several trading type groups..... mostly stock trading..... once forex.....
the time required can be a drawback.....
the difference in abilities can be a drawback.....
the difficulty in choosing members can be a drawback.....
being the only coder can be a drawback......
that list goes on......
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they say if your the smartest person in the room, your in the wrong room......
they say the sum of the parts is greater than the whole.......
trading forums such as this one might be the best group......h
I have never tried it myself, but I think it can be a good add-on to your other means of risk management, at least, as you will have someone to check on your thoughts and strategies further.
