A great example of this is the idea recently put forward by Modern Rock: finding a Trading Accountability Buddy (TAB). The key word here is accountability. A TAB is a co-investor in your trading business: someone who learns with you, learns from you, and teaches you. Think of it this way: if you learn one valuable trading lesson each day and turn it into an improvement the next day, you'll achieve a tremendous compounding of learning over the course of a year. But if you *and* a TAB share your learned lessons and improvements, you've now doubled that compounding. You succeed simply because you're on a much more rapid learning curve than others.
What a great investment in your trading.
As Alex points out, one of the great advantages of an investing group is the opportunity to get together in person in a setting like a Hawaii beach (or a NYC pub!) with multiple potential accountability buddies. Everyone shares experiences; everyone answers questions; everyone becomes a resource for others. Investing in trading becomes a group process, not just something you do in isolation.
I'm in the middle of writing my fifth book on trading psychology--one that will be very different from the others. The topic is the relationship between spirituality and trading: how it's not enough to develop ourselves--we have to develop our selves. So many of problems that impact trading--from overtrading to greed and fear of losing--are *not* the result of psychological disorders. They are the result of letting our egos get in the way of our trading. The techniques and perspectives taught by the world's great spiritual traditions really are ways of moving beyond ego. As I illustrate in the book: Great trading comes from the soul, not the ego.
I look forward to talking about soul-full investing at the New York meeting--and in coming blog posts!
Further Reading:
Posts
