The Secret to Finding Success in Trading

A formula as well kept as the Coca-Cola recipe

Gotcha.

Sorry if you opened this up expecting to uncover the golden ticket.

There’s no secret.

BUT…there are ways to push the odds more in your favor.

And in this post I’ll be discussing the power of mentorship, community and finding the right help.

Finding a mentor

You might be thinking “where do I even start to find a mentor?” With so many different styles of trading and even more frauds, the options can be paralyzing. Before you even start, I would suggest you do enough due diligence to understand the basics of trading. No one wants to waste time answering questions that can be easily answered with a quick web search.

Now if you came across this article and somehow aren’t a member of a trading discord or on X and follow a handful of traders, I would recommend making that a priority. Here are some places you might check out:

• r/daytrading discord

• Day Trader Rehab

• Noremac Newell Trading

• Investors Underground

Once you find a room that fits your style the most, start to take note of who is who. There will usually be a few different categories of members. You have the owners, moderators, well-seasoned contributors, educators, specialists, know-it-alls, and all sorts of titles that can take some getting used to.

Make sure they are actually legit

With this next part, there’s no getting around the work it takes to observe the playing field and begin vetting potential mentors. It will take some time sniffing out who is legit and who is likely a fraud. Don’t assume that just because someone has a high-ranking role that they are automatically a seasoned or even profitable trader. Do your best to verify that this person is not only experienced, but also profitable over the long term.

Don’t shoot for the stars

In order to increase your chances of even landing a conversation with your targeted mentor, I’d recommend not shooting for the stars. By this I mean don’t try to go for the top dog right off the bat. In other terms, you’re far more likely getting a word with a former D1 coach than a current professional head coach.

Bring something to the table

Once you’ve found your potential mentor, there are some crucial steps to take to facilitate a fruitful relationship.

• Be prepared. Make sure you have questions and examples ready.

• Do your due diligence on content they have already shared and questions they have already answered. No one wants to have to repeat themselves over something that is readily available. Watch their YouTube videos, read their older tweets and posts, or see if they have any resources available in their respective Discord group.

• Show commitment. Don’t make it difficult to keep a line of communication. Don’t be flaky with timing or scheduling. If they are going out of their way to set aside time to work with you, make sure you show up.

• Find common ground. Field a few personal questions and find common interests. You just might find that you can help them with something unrelated to trading. Find areas where you can add value. If you notice someone posting about a similar passion, find a way to work that into discussion when you reach out to them.

  • I initially connected with one of my best friends, Thiz, over our similar interest in video games. We then discovered our shared passion for cars, music and of course, trading. We still talk daily and have enjoyed a handful of vacations and in-person hangs together. The beauty of forming relationships with people you meet online is that it can be a lot easier to be vulnerable and open up, and you meet people you might not have crossed paths with IRL. Despite our vastly different backgrounds and upbringings, we were able to find true friendship that might not have happened organically in day to day life. Back when we started trading, Thiz and I would spend hours a week going over charts and trades, and even more hours just on FaceTime talking about our weeks. This kind of connection is invaluable, as it makes it feel like you do have teammates instead of just being on your own.

The value of mentorship in day trading

• Accelerated Learning Curve

  • Because your mentor will likely have gone through some of the same situations and made similar mistakes you are likely to make, they can help steer you on a clearer path that involves less hangups.

• Detailed nuances that can be difficult to explain otherwise

  • Experienced traders with thousands of hours in front of the screens tend to pick up on subtleties and complexities that aren’t widespread knowledge.

• Accountability

  • Being open to criticism is a valuable attribute when learning from others more qualified than yourself.

  • Sharing your successes and, more importantly, your mistakes with a mentor helps keep you on the right track and from falling into dangerous habits.

• Support

  • It’s more than likely that your mentor has gone through everything (and more) that you have and will have gone through. Having someone to vent to and help get you through tough times can go a long way.

• Expanded playbook

  • Since no two traders are exactly alike, you’re bound to find strategies and plays that you haven’t yet discovered. If you’re lucky, you just might find the formula that changes the trajectory of your career.

• Finding a pod

  • The last thing that I’d like to mention that is mentor-adjacent is finding a trading pod. The significance of this cannot be understated. Now this is not to be mistaken with being in a big room. A pod should be a small-ish group of traders with similar style with whom you can bounce ideas off of, share and refine strategies, and push eachother out of your comfort zones. I’ll likely cover this topic in detail in a future post.

I’d like to conclude this post with an expression of gratitude to the mentors as well as those whom I have mentored that have helped me along my career. Without the generosity and willingness to help of these people, I have no doubt I would be in the place that I am now. Having such a mentally challenging career is one thing to do alone, but having friends along for the ride makes the journey so much smoother.