I started taking calls after the first year into this program as a test, and they quickly became the most popular means of communication.
There is truly nothing that beats the ability to simply get to know another individual and talk things through, step by step. The amount of time saved by taking these has been immeasurable, and always beats basic chat or emails for quite obvious reasons.
Calls are always kept casual, and evolve over time. I am always cautious of imposing any kind of authoritarian approach, and remain incredibly open-minded when it comes to the implementation of various methods. We are just individuals coming from many different backgrounds, and it is in everyone’s best interest that we recognize the common goal, and do what we do for the sake of progress. I like to get to know people for who they are, as much of what we do involves personal input.
Over the years, I’ve spoken with approximately 180 traders of various backgrounds. Some are private, some work for hedge funds, some work for proprietary firms. Some have lots of financial resources, some don’t. Some have advanced degrees, some have none at all. But the one thing I have learned through it all is that people are people, and like we learn when we’re young, just want to be heard and respected.
For this reason, I largely leave the main points of discussion up the person on the other end. In the case of any confusion, I’ll ask a series of questions to better understand what inefficiencies may be lurking under the hood.
If strategy/methodology is needed, some calls will resemble something you would more likely see in a webinar, walking through a process, step-by-step. I am more than happy to go over any concepts and do whatever is needed to solve a problem.
I will say the bulk of discussions tend to center on execution. I find that in most cases, people are quite efficient when it comes to analysis. In the vast majority of cases, there is an underlying principle at play, whether the trader realizes it or not. Building upon that, we work forward with risk, setting initially conservative benchmarks targeting higher rates of success. Based on the trader’s reactions to standard market behavior, we’re able to asses a general “shock index” when it comes to execution. While it’s not a quantifiable metric it is one I use to help normalize situations so we can start taking rational steps, within the trader’s level of proficiency.
Over time, I’ve found this is something that’s extremely difficult to translate through regular videos, and in writing (I’ve tried). The largest hurdle in one of flexibility. When you are dealing with 1,000’s of different methods/inputs, this is always going to vary. While a profession, trading is personal in many ways, as most of you know.
Ultimately, this is a way to save time in an easy, friendly manner. While it may seem awkward at initiation, I have never had an awkward conversation. This is truly an awesome community with bright minds and good intentioned individuals. I hope this helps a bit, and look forward to meeting you!