I have been doing a lot of thinking lately about what the true purpose of my e-mini trading room should be. That is to say, should the e-mini trading room be a place where new traders actually learn how to trade? Or, should the trading room be a place where I call out buy and sell signals for traders in the room so traders make initiate trades?
It’s not as easy of call as you might think.
I have several individuals who come to my trading room to simply imitate the setups and trades I identify. And I suppose that’s not such a bad idea. On my $10,000 trading room account, I have been over $1000 per day for the last nine days. On the other hand, these individuals never get a handle on the trading methodology I use to identify e-mini trades. They come to my room to make money and are not in the least bit interested in how I accomplished that goal.
There is another and much larger group of new traders who attend my e-mini trading room to learn how to trade. Make no mistake about it though; all new traders want to make money. But this group of traders would like to learn to trade on their own. In short, they want to be competent traders in their own right.
To my way of thinking, the second classification of traders are thinking along the same line I envisioned the trading room. Perhaps I was naïve, but I assumed that new e-mini traders would naturally want to learn how to trade so they could practice their skills outside the trading room once they become consistently profitable. Perhaps it is just my own personal personality, but I wanted to establish my trading identity from the start of my career. Granted, I don’t object to initiating trades suggested by others because often times setups occur to which I may not give proper attention, or just plain miss.
Unconsciously, I have had to serve two masters; one group that wants only e-mini trade calls; and another group who is interested in e-mini trade calls, but is more interested in learning my style of e-mini trading so that they will, in time, be able to trade on their own and not within the confinement of a monthly paid trading room subscription.
In the interest of transparency and clarity, I have been giving thought to more clearly identifying the purpose of my trading room. If I had my way, I would focus only on helping new e-mini traders learn how to trade and eliminate the trade calling aspect of my e-mini trading room. It’s been a tough question for me to arrive at a clear answer because both types of e-mini traders can certainly benefit from the trading room. Further, why should it matter to me if some e-mini traders have no interest in learning to trade and simply want another individual to call trades they can copy.
It’s an interesting question and the one I have failed to arrive at a satisfactory conclusion. I would welcome any thoughts on this matter.
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