Many excellent traders have good teachers to imitate. This may raise a question: what is a good teacher?
"Based on my experience, the hottest traders in the field are usually the worst masters. They may be very smart and fully understand the methods of trading, but these tricks cannot be taught to you."
"So, I will look for some successful traders, but not too popular. Generally speaking, the most popular traders, the most people who ask for advice, you will not get a chance. If it were me, I would look for some traders who are not very strong in capital, they have to master all kinds of skills and use limited capital from different angles. Bank traders have almost unlimited capital, and so do large institutional traders: Morgan Stanley, Goldman Sachs, and BNP Paribas, in short, have unlimited funds."
"These people can easily complete their part of the work, but may not understand how to use limited funds. Therefore, I will look for some people who are not particularly strong in financial strength, maybe not the most popular traders, but have stable performance."
Trading newsletters: replacing the master.
If you can't find a good master, it doesn't mean there is no hope. As Najarian explained, there are still some things that can replace the master.
"In the United States, many people subscribe to trading newsletters. Trading experience with each other through computer networks is also a possibility. Of course, a top trader, his personality, trading style, and investment goals may be different from you. So, you might as well try online, maybe there will be some gains."
"Another method is to read books and articles in magazines and see which expert's trading style suits you. I think, there is no shortage of excellent traders in the market, but their trading methods may not suit you."
"But, you may be able to find someone, whose way of managing funds and dealing with risk mentality makes you feel natural, this is useful. You can't squeeze a square into a round hole. I hope the style of trading partners makes me feel comfortable, only in this way, I will think of work every day."
Before judging whether an imitation object matches your personality, you should first consider some questions:
- Do you prefer to trade through a very mathematical, mechanical method, or a more intuitive method?
- What is the time frame of trading? Do you like short-term trading or long-term investment?
- What is your preferred trading tool? For example, some people prefer options over futures.
You can use the answers to these questions to "find a teacher and learn". For example, suppose I prefer options and want to trade through technical analysis and short-term fundamental analysis.
In this case, I hope that my system can close the position within ten trading days after opening. This trading style cannot rely on any master, but the combination of the three may strengthen the concepts I already have.