Posts tagged with: Community

Today I am announcing some significant changes to the production schedule for the free content, including the podcast, videos, and blog.  I’m also making a change to the membership benefits.

But first, let me start by thanking you once again for your interest in the work I do here at Torpedo Trading.  I hope it continues to help you along your path towards achieving your most important financial goals and building long-term wealth.  Taking control of your own money truly is the best path to financial freedom, especially in the volatile economic environment we’ve been in for nearly two decades.

The reason for the changes I’m about to lay out is that I’m returning to full-time employment in the actuarial field.  As the regulars on my live stream know, Torpedo Trading has been a part-time pursuit for me.  I’ve continued to work as an actuary on a part-time, flexible schedule.  Recently, my family and I determined that the best thing for me to do going forward is to resume the full-time actuarial gig.  Therefore, I will have considerably less time to put towards this business than I previously had.  It’ll keep going, because it’s my passion to provide honest, high-quality educational content that engages all of you and inspires you to take control of your wealth, whether you’re brand new or experienced with trading and investing.  But, I will have to dial back the amount of content I produce – and I already have over the last two weeks.

Here are the changes:

  1. The podcast frequency will drop from weekly to approximately one every two weeks.  New episodes will continue to be released on Tuesdays.  The podcast is extremely important to me, so I’ll be doing everything I can to get new episodes out as often as humanly possible.  The next episode, #28, is already in pre-production and will be released next Tuesday, July 18th.
  2. I will be making significant investments in the quality and efficiency of the analytic tools I use to forecast the financial markets.  This is exciting because when this work is done, I’ll be able to give you even more accurate and timely analysis on the markets than before.  Of course, this takes time away from content production in the meantime.
  3. The live stream will drop from 3 times per week to “as I’m able”.  I’ll use the Torpedo Trading Discord server to announce live stream dates and times at least 24 hours in advance whenever possible.  I’m looking forward to sharing the new and improved analytic tools as they’re progressing along on the live stream.
  4. The YouTube channel will continue to be a “best-of” compilation from the live streams.  How many videos will I do?  It depends on the number of live streams there are (see above).  Probably a couple YouTube clips per month, at a minimum.
  5. I’ve taken down the premium community for members – but I do expect to revive it at a later date.  While I still believe being part of a community is really, really important for traders who want to be successful, I’ve done very little promotion of the members forum here.  It just doesn’t make sense to keep paying the hosting fee month-after-month to keep it live when it’s not being actively used.  I think the best approach for now is for those who are seriously interested in joining the community to contact me to get on a list.  This won’t be an email list where I harass you to join up; I don’t do that.  I will just store the info aside until we have enough people committed, then I will reach out to everyone who’s expressed interest to confirm and lastly the forum will go live once again.  The bronze membership is only $5/month so it will not be expensive to jump on board the relaunch.  Looking for a way to support this site in the meantime?  Check out the options on this page.
  6. I will be launching a new premium service that is affordable, quick and easy.  Basically, for a small fee I will do a basic technical and fundamental analysis of any stock, ETF, currency or commodity you want me to look at.  I get lots of requests for this, and am happy to address them for free on the live stream as I always have.  But with fewer live streams and less hours to go around, having this as a pay service will bring the demand more in-line with my supply of time!

Questions or feedback on the changes?  Email me at the address I give on the podcast – or use the contact form to reach me.

Thanks again for your support!

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Trading should not be a solo venture, even if it sometimes feels that way.  In this episode, I present a framework for holding a fun and productive meetup or online trading session with other investors.  It’s important to discuss the markets with other people so you get to hear other ideas and have your own views challenged.  It makes you a better trader.

 

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(CC image by micahvandegrift on Flickr)


Section 1: A General Meeting or Progress Report

  • Check-in with a couple friends or a small group, at least once per month
  • Start with macro trends, the big-picture view
  • One main topic per meeting: 15-minute discussion
  • Discuss your favorite investment ideas: no more than 5 minutes per person plus 5 minutes discussion time
  • Share results (profit/loss) as much as you’re able: builds accountability
  • Each participant should set a personal goal to reach before the next meeting
  • Suggest topic ideas for the next meeting

 Section 2: An Investment Club

  • Many different structures; members usually pool funds or agree to invest separately in the same things
  • More formal structure than other groups would have; more pre-planning involved
  • Longer meeting: aim for 3 hours or more
  • Always start with macro trends; choose one member to present for 5 minutes, can open up to discussion
  • Open the floor to discussion about any of the club’s current investments
  • Any member can propose a new investment idea to the group, giving a presentation of up to 20 minutes then allowing 30 minutes for discussion and vote
  • Designate a treasurer to report profit/loss if funds are pooled

Section 3: A Working Session: Trading Live

  • In-person or virtual
    • In-person: what to look for in a meeting site – Rent out a meeting room or use one at your local library
    • Virtual: Premium services provide full screen-sharing & collaboration tools; otherwise use Discord, Skype, Google Hangouts for just the basic chat & voice capabilities
  • Spend at least half the trading day observing other traders, rather than trading yourself
  • Start before the open: pre-market setup & discussion
  • End after the close: pick one trade to share with all; summarize lessons learned


Intro music by audionautix.com

Find more episodes of the Torpedo Trading Podcast at this link

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