Tuesday, March 30, 2010

Thoughts on Networking and Success

I want to thank the many traders who have responded to the post regarding forming virtual trading groups. My hope is that those who commented to the post can follow through with mutual contacts and explorations of common interests.

It always surprises me that people who otherwise seem to desire success don't follow through on their desires with solid, persistent networking.

Life is a team sport. You learn from others, you benefit from their experience, you develop your thinking by incorporating their perspectives--and they learn, benefit, and develop in their interactions with you.

Never, ever be afraid to make yourself visible. Put yourself out there: your ideas, your experience, your interests. Cold call 20 promising people; it's the one or two that respond meaningfully that will add to your life and career.

No one will cheerlead for you; no one will discover you; no one will take you under their wing if they don't see and hear from you.

Reach out to likeminded traders. Put out enough information that likeminded traders can reach out to you. No matter how inexperienced you might be, don't be afraid to reach out to those who are more accomplished.

It's not about crass self-promotion. It's about recognizing the synergies that are possible in positive working relationships.

Go for it.
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8 comments:

JVILLEGAS BLOG said...

Brett, we started a trading social network using ning as a plattform and now after 5 months, more than 950 members have subscribe. Our network is in spanish but I would love to start the same experiment in english with your leadership and insight.

Will like to hear your comments.

Juan Villegas
www.reditum.com
reditum.ning.com --- social network

E said...

Life is full of paradox.

Self-promotion is viewed as pompous and vain.

Yet no one will champion us unless they know about us.
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Having the confidence to reach out to others, whether they are professionals or "newbies", invites networking, and the law of numbers sorts out those with whom we can relate.
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If we get rejected,dust ourselves off, then seek out new territory.

Leave the ill will behind and just look for new doors that will always be there to open.

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Most importantly, the choices are always ours alone, and we need to accept 100% responsibility for them.

Great post, thank you.

George said...

I have a Yahoo Group that I created a very long time ago for day traders to discuss trading strategies for SPY, SSO, SDS, and ES.

I never did anything with it, so it's just sitting there gathering dust. If anyone wants to use it, feel free.

Right now, it's set for open membership with no approval necessary to join.

I don't have a lot of time to moderate, so if it starts getting spammed or if flame wars start breaking out, well... guess I'll have to deal with that when/if it happens. Let's just keep our fingers crossed that members will be respectful towards each other.

SPY Day Trader

Gangineni Dhananjhay said...

Brett,

I can resonate with your post. My trading improved after I started my blog at www.hilotrader.blogspot.com
and I am able to network with fine market participants like Newton Linchen, SohamDas and others.

Regards,
Gangineni Dhananjhay

Michele said...

Great post. It is mainly from your encouragement that I started my own blog here on blogspot too last month (just click on my icon). In just this short time, I've already received a few very nice comments.

It's still a work in progress, but I've found that the act of writing down ideas and putting them up for public viewing (even if hardly anyone is actually doing so) to be helpful.

RoachApproach said...

Great post! Yes, don't be shy ;-)

mytradingacc said...

Brett, I totally agree with you. I'm from Singapore and the culture here is even more conservative than in US. Promoting oneself feels uneasy as we have been taught to be humble since we were young. I decided to break this culture in me, so I too, started a blog to share my experience in trading, hoping to help others not to repeat the same mistakes that I've made.

Now reading your book "The Daily Trading Coach". Fantastic book. Really learn a lot from it.

Aaron Tang
www.passiontraders.com

Andrea in San Diego said...

Brett, I love this blog and the topics you cover. This one caught my attention due to the topic. I am new to your blog, just when it is winding down!
In San Diego I host a meetup group for traders. I would suggest others do this in your city. It is a fabulous opportunity to meet with other traders and share ideas, support, etc. (We even did a book study on one of Brett's books)

Just "talking trading" with others is helpful as it is an isolating experience. To see our trading meetup site and get ideas, go here:
http://daytraders.meetup.com/228/

I am also a business coach of 10 years, and now trader coach. I will take the suggestions of this blog to help me with my "marketing" and getting myself out there, as I tend to shy away from that. (Anyone interested in learning about coaching with me can contact me via this trading meetup.) :)

Thanks Brett for all your books. I think they are the best books on trading out there, and I hope you return to writing sometime as you are fantastic at it. --Andrea