Frequently Asked Questions

General Questions
How would one go about acquiring the skills and level of trading as yourself and Dr. K? Do you have any training or reading material that you can recommend besides the reading list of Dr. K?

Q: How would one go about acquiring the skills and level of trading as yourself and Dr. K? Do you have any training or reading material that you can recommend besides the reading list of Dr. K? As I find them a good read but as for real skills in trading they are not of much help. Will you ever have a mentorship program? You mentioned that to watch you trade would cost at least $50K a day. Of course I cannot afford that nor are offerring that at the moment. I find reading this newsletter very helpful for marketing guidance, and it gives an idea of what a top trader is thinking about. You have been fortunate to have learned from Mr. O'neil. When will you become a teacher to others?

 

A: You acquire the skills by doing it and gaining experience and judgment over time. There is no magic number or types of books to read - you probably read everything you can get your hands on. There is no magic "program" to follow or engage in. There are no magic "internships" that will make you a good trader. Working for O'Neil was helpful, but that is not available to everyone, since O'Neil will only hire you to manage money for his firm IF and ONLY IF you have a strong prior track record which just gets you back to the first problem - becoming a good enough trader to get to work for O'Neil - he doesn't just hire people to run money out of the goodness of his heart and his desire to "teach." You have to prove yourself BEFORE he will hire you.

Mentoring is not my thing - I do not make a very good coach, quite frankly, because I find that I need to trade alone, without distractions, and of course I did not need any mentoring to become good enough to have O'Neil personally recruit me so I don't see it as necessary. You just have to do it - there are no shortcuts that I know of. As well, not everyone is cut out for trading, no matter how "passionate" they think they are about it. It's like American Idol - lots of people with "passion" but few with actual ability or aptitude.

Our forum for teaching is the website, Traders Expos, online webinars, etc. - so we already are teachers. We have no intention of running mentorship programs or the like because a) we did not need them to become good enough to be hired by O'Neil, and b) they would take up too much of our time.


Published: Jan 31 2011