I created this site for one reason, to help other day traders. That’s it. My intention wasn’t to get any exposure or try to sell you something. You see, I have been in this industry for almost 10 years and I have seen (and been through) just about anything you can imagine. I couldn’t afford to start day trading but the wonderful trait that my mom calls stubborn (I say dedicated) lead me to do it anyway.
Tsingy Stone Forrest: Madagascar
When I started, I took out $25,000 in student loans when I was making roughly $30,000 a year in a customer service call center. I did forget to mention that I was putting myself through school and paying $22,000 a year in university tuition didn’t I? It wasn’t easy but 10 years later I am day trading and traveling around the world, living my dream.
C’est la vie
I am practically semi retired at 27 years old because honestly, I wouldn’t call this work. When you are able to do something that you love we shouldn’t call it work, it’s passion. Passion isn’t work. I wanted to be able to start something that would allow others to reach the same point in life. Reach that point without spending their entire life savings.
Petting Cheetahs in Zambia
I want that 18 year old kid in high school to be able to afford to start day trading because he wants to pay off his mom’s house or allow the blue collar worker to be able to afford to pay for his kid’s college tuition.
All of the big plans I have had for this site are a bit delayed due to my strenuous (and aggressive) travel schedule.
I speak to many of you via email and I would love your comments in regards to some of the ideas I have either via email or in the comments below, whichever you prefer.
- Coaching
- Publishing Income Statements
- Forum
- Day Trader Interviews
Coaching
To be honest with everyone that reads this site, I have already started coaching some individuals that have a similar strategy to mine develop their trading skills.
I’d like to more of this in the future but my resources are limited since I am a one man operation that spends most of his time traveling around the world. I’ve received so many emails in regards to coaching that I am seriously considering doing this with more people.
I’ve considered creating a membership section on this site and having daily recaps available instead of just my trades. This is what I used to do in the past and even though I travel and some recaps may be delayed, I found they are tremendously helpful to those that want to learn how to day trade. The coaching could possibly include daily recaps and access to myself for questions, critiques, and the occasional beer! lol
Publishing Income Statements
I don’t just receive I love you mail, there are some people that are kind enough to send hate mail. I don’t feel that I have anything to prove to anyone out there but this is something that is unheard of in the industry. Many of you that have met me know that I am a no frills kind of guy and publishing this information would simply put a sock in everyone’s mouth.
I have a group of traders that I discuss both trades and strategies with, including day traders that I employ, and we have all discussed publishing income statements. There is a matter of privacy so the statements would be from my group of traders and wouldn’t have a name on the statement. Would love to get comments on this.
Forum
The traffic of this site has doubled every month since I started it thanks to both word of mouth and love from Google. There are many things that people like to discuss and I have an idea where someone could ask a question and I (or another one of my senior traders) could answer the question for everyone to see. This has been done by a colleague of mine that owns a travel blog similar to my WanderingTrader.com and it has worked out great.
Day Trader Interviews
The old adage is that if you want to make money you have to be around money. I think that being able to pick the brain of as successful trader would be extremely interesting for everyone. There is a massive list of traders that all started with me and many more that are out in the world yet to be discovered. For privacy, I plan on only using first names and possibly the country that they are from.
Conclusion
Being disconnected from the world without internet and plenty of time to think about these things has allowed me to really think about the direction of the site. Many of you have sent me comments and questions so I would love to get your feedback on some of the ideas that I have.
Maahad Sanit from Somaliland (thank you)
Paul November 8, 2011 at 9:14 am
Daily Recaps – I would find these to be really useful – especially if the areas were discussed where trades could have been taken but weren’t.
Income Statements – I agree there is no need for any names to be on these, but I am sure many people would finally love to see in black and white the income that is possible. Many people claim gazillions of $, but it is often put down to being ‘too good to be true’, and therefore people who are learning giving up saying it is all a big scam.
Forum – Great idea. This is a largely solitary endeavor, and anything done to foster some sort of community is great.
Interviews – I think this is a good idea too. People who aren’t quite there yet could find inspiration in hearing from successful people who were in similar situations before they finally became successful.
Francessca November 8, 2011 at 11:26 am
Sounds very exciting, Marcello, for those of us who know you from before you started your site. Never fully appreciated your teachings until you were no longer available. You have a gift of not only trading, but teaching. I’m looking forward to seeing you develop your site as you have outlined.
I agree seeing some successful traders’ earnings statements is a good incentive to help keep those in training focused on the future if we keep applying ourselves and establish disciplined trading skills. Also, it’s always good to hear from those who grew into successful traders and hear how they did it.
I love the idea of daily recaps with your explanations for trades you didn’t take and why you passed on them.
Sonia November 8, 2011 at 6:34 pm
Marcello
I would love you to expand on this site. I read the daily recaps and I am reality new so I try to learn as much as possible. By the way you write you can hear the passion in your voice not only for what you do but by the fact you are so sincere in sharing what you have learned.
I truely think all the suggestions you have mentioned would greatly help those that are looking to change their lives. I for one am one of those blue collar workers that would just like to afford to say “Hey lets go here” and be able to pick up and go and not have to think about whether or not I could afford it. It would be something just to be able to do that one day.
Your daily recaps I think would be beneficial, hearing from successful traders and those willing to share their stories would keep people like myself motivated, though simply reading your post the past few weeks has been motivation enough. Coaching for someone like me who is a newbie would help me grow by leaps and bounds in this profession. Also income statements would be great. Like I mentioned before all your ideas seem on par with what your vision is for this site and what you hope to put out here.
I look forward to the changes you plan to make. Happy and Safe Travels.
Don G November 8, 2011 at 7:53 pm
Hi Marcello, following are my thoughts regarding areas of focus you mentioned in “Changes Are A Coming”.
Coaching would be the most important item for me. I think the ideal situation for me would be sitting with a coach, running market replay, being able to ask questions and get responses in real time.
Coaching a small group of people: You might consider meeting with a small group of students in a geographically central location. Each member of the group could rotate in and out of the “hot seat” while the others watched and learned.
Daily recaps: Recaps would be very beneficial, especially if we could ask you questions regarding the trades.
Critiques of our trades: A short video critique would like you used to do would be great.
Income Statements: It might encourage us to see that trading this methodology actually results in some kind of income.
Forums: I love to be able to ask questions of “Senior Traders”.
Day Trader Interviews: This feature might interesting.
Thanks for everything Marcello.
Don G
Craig November 8, 2011 at 8:15 pm
Hi Marcello, I think I speak for everyone here when I thank you for what you are doing, looking forward to seeing what it becomes.
If you need any programming duties done don’t hesitate to ask.
Ross November 8, 2011 at 8:29 pm
Those are all great ideas for expanding the site Marcello, im excited to see this develop. Just the charts you post have helped my trading tremendously.
Susan November 8, 2011 at 9:02 pm
Marcello,
I am very excited to hear that you are considering coaching in the near future. I try to read your blogs every week, not only for your trading advice but to read and see the BEAUTIFUL places you have visited. The fact that you would also consider creating a membership section for your daily recaps (for us devoted followers) to review is invaluable.
As far as Income Statements, I think it’s awesome because there are many traders out there that say they are profitable, but yet do we really know the truth. It would be quite encouraging to see that.
I appreciate what you’re doing and I look forward to reading more about trading and your travel experiences.
Steven November 9, 2011 at 10:38 am
Sounds like an interesting idea. Looking forward to seeing how this website evolves.
Kevin November 9, 2011 at 7:12 pm
* Coaching
* Publishing Income Statements
* Forum
* Day Trader Interviews
*Coaching : Great idea.
Tips:
-I was thinking if you structure the teaching in classes. The class of December 2010 for example . 10 to 20 people or so . For 1 month coaching. Then the class of January 2011 , same thing. 1 month coaching. This will allow you not have too much work per month and at the same time offer high quality teaching.
-Also, prerecording the basics stuff of the mentoring ; example: how to set up charts, how to read the indicators, explaining the setups, etc… so that when you start mentoring you can jump right into the deeper parts of the method. i.e. market structure and how to read it , psychology, when not to trade, money management, etc…
-Having 2 times a week a live trading day would be great i.e. trading together live. The rest of the week a recap.
-Also working with a successful trading partner to help you cover some aspects of the process would allow you to have a continuity in your help without having to stress too much if one day you cannot do one of the activities.
*Publishing Income Statements: Also great idea to give hope and put ” walking the talk” coaching. One concern could be the legal issue. Not sure if there is any legal issue in showing your Statements..just a thought to look into.
* Forum: Great idea to share screen shoots of our own trades ( setting a standard on how to make up the charts so that it is easier to read through the trades). Then you, your assistant and the members can make comment on them.
* Day traders interviews is also a great idea. This guy http://www.traderinterviews.com/ is doing it also but I don’t think he is himself a trader. Coming from your side as a trader would give more value to the interviews since you know what different aspects affect trading. Especially, the psychological aspects.
That ‘s about it for now. If I have more ideas I will let you know ; )
Sincerely
Kevin alias tradingkevin
Bruce McCallum November 10, 2011 at 4:41 am
Marcello,
I think the daily recaps are great so would definitely like to see them expanded.
Coaching is another aspect which I would find very helpful.
On statements, sometimes I do wonder if the claims of dollars made are accurate but in reality I am more concerned about being a consistent trader myself.
Interviews: I have heard & read quite a few trader interviews but ultimately it’s about committing yourself to learning, getting a suitable mentor & putting in the hours of hard work. In some interviews I think the time and effort a “successful” trader has put into learning the trading craft is lost against the lifestyle or position the person holds amongst the trading community.
Look forward to seeing the concepts unfold.
Bruce
Glenn January 29, 2012 at 12:54 pm
Why would any send hate mail when you are trying to help others with there trading. That boggles my mnd. Anyways keep up the good work and would like to hear more and help improve my trading. Your the lucky few who can do what your doing. Maybe I can someday hope so.
Thanks for great site
Marcello Arrambide January 30, 2012 at 7:56 pm
Your welcome Glenn!