Due Propers

It has been around two months since I started really interacting with the greater community of traders that use the excellent social media gathering spots available for the industry veteran and market enthusiast alike.

In that time I have come to truly understand and appreciate the wealth of talent and spirit of community out there. I am glad to call many of you my friends. Some of you may even feel the same way about me, and the thought of that warms my heart as well.

It has been a joy to interact with you all, and many knowingly or unknowingly have either provided wisdom, perspective, and guidance, doses of reality or differing opinion.

When I started writing posts for Price is Truth I did so coming from a place of pain and disappointment. At first, this blog was going to be a way to expunge my bad experiences, and to hopefully find and reach some souls who could benefit in some way from reading about my past failures.

As this project is progressing, I am finding that my reasons for wanting to write are changing and what started as catharsis is now giving way to something else. I enjoy the sense of community out there. I am learning from all of you and want to give back, to pay it forward. Also in my heart is the need to give acknowledgement to those who have generously bestowed their knowledge and humor to me when I have most needed it.

To have that feeling of “getting it” with something as vast and complex as the financial markets is fucking amazing. It comes after years of striving and searching for some semblance of truth and frankly the process has damn near ruined me. Even now, I am one bad move away from losing my greatest and most cherished possession in this mortal world or beyond. That is my beloved wife, and her love for me.

The amount of patience and loyalty that she has shown me proves that the power of love is THE greatest energy in the Universe and is the true secret to getting all that you desire in life. I have not reached my goals YET, but that is not from ANY lack of support that my wife has shown me over the last four years.

Some of the other people that come to mind when I think back over my experiences loom large. Then there are some that are mere whiffs of something that added to the flavor of the stew. All were crucial however to my development in their own way and all are appreciated by me.

One of the first, a guy I met when I used to try to get info from Yahoo message boards is DaveBugs.  As most serious traders or investors know, such message boards are real dens of iniquity. The odds of finding real information, never mind making a lasting connection with a real individual who happens to be a kick ass trader (and part time mentor) is like 100 million to one.

But that is what I found in DaveBugs – This guy is a solid and one of the best investors I know. I met Dave on the KLIC board years ago. DaveBugs’ motto is “scale in, scale out – online commissions are cheap” and he understands seasonality and rotation better than most. If I can be half the investor that Dave is, I will be satisfied. Oh, and the guy barely looks at charts, which proves that there are a million ways to play the game.

Then how about Cheri1? She reminded me that the energy that you project is the energy you get back. A few weeks ago Cheri recommended a book to me that provided me with words and specific concepts about the power of positive thinking and the law of attraction.

I was then able to apply this perspective to a specific life-changing experience that actually happened to me personally several months ago. The clarity of purpose that this awareness has provided to me I give her credit for, because even though she and I barely know each other she has given me a gift that I will never forget.

How about Day Trader Rock Star? Rock Star for short. If you have never checked his show out, he is an amazing trader and a fantastic talent for providing entertainment and information to his viewers and listeners. Over a number of years I learned VAST amounts of information from him and the many fine and experienced traders that contribute to the public section of the site.  He provides his members with great value. He cares about his product and is not a shill. Johnny, we never met, but a hearty thank you is in order for what you bring to the trading community.

Another man I respect very much for his courage to speak the truth, as well as his trading perspective, and kick ass T/A, is Shanky from Shanky’s Tech Blog. Shanky taught me patience and the art of playing defense. In order to win the war, you need to survive the battles in between.

Shanky never asks for a dime, but brings it daily with great market commentary and some of the sharpest regular contributors around. If you want to mix it up with some smart guys, hang out there some afternoon.

Part of my learning process is to try to sponge knowledge from more accomplished or well-rounded traders. I am trying to expose myself to traders or market thinkers with perspective, with discipline and success on their resume. One of these is Stef540. Stef is an awesome trader, and a great and funny individual.  Her timeframe is shorter than mine, but I am still in awe of the way she pairs her book daily. Stef always enters and exits trades with precision and ease. From watching her operate I realize that a good trader can hardly help but to win in the end. They will never get themselves into big trouble knowingly and will always fold their hand when the odds stack against them.

Then there is a pro that I have come to know only in the last few months who is a real eye opener. This guy calls a hell of a market in his daily videos, which I personally think are the best free daily market videos out there. Of course I am talking about chessNwine from ibankcoin. The guy is mad talented, and funny as well. His frequent intraday posts are educational and often entertaining. Chess has a depth to his analysis with an understandable approach that is balanced and deadly accurate.

Even the faceless, nameless ones who took my money on the other side of trades gone wrong provide a perspective and wisdom.  They made me realize that every time you take a position there is somebody on the on the other side taking the exact opposite position and only ONE of you can win.  Trading and the markets are a zero sum game.

To make it in the markets every speculator needs to pay their dues. Nobody just wakes up a gifted trader or investor. Everyone requires the guidance and help of mentor, teacher or friend at one point or another to get them over the hump, or to show the way forward. Every single one of you who have been in the game long enough could make a similar list to the one I just made and point to a group of people to honor, and give their Due Propers.

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4 thoughts on “Due Propers

  1. Thanks for the shout, Maxx. Great post!

  2. Queequeg says:

    May I ask the book that Cheri1 recommended?

    thanks

  3. WTF says:

    Hey Maxx! WTF here. RC pointed me this with a link today. Glad to reconnect.

    • MaxxPayme says:

      Say hi to the boys for me – i’m pretty much corked and not interested in the market since it’s such a joke. Feel free to ping me @maxxpayme on Twitter if you want.

      Cheers,
      MP

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