Believe it or not, I really enjoy receiving emails from students. The emails are a way for me to help them as well as to let me know that they understood the lessons I taught them in a live class or an XLT. Without the feedback, I cannot improve my delivery of the material. Trading can be a very lonely profession and so I teach to stay in contact with those who enjoy trading as I do and also because I reinforce my own trading disciplines when I am reciting them to the class.
That being said, I often receive emails asking for advice on individual stocks, currency pairs, futures, or indexes. While I am flattered to be considered an “industry expert” by many people, my goal is to teach a skill to others so that they can use it to profit from the financial markets. I am not just legally prohibited from offering individual advice, I am also morally restricted.
My job as an educator as I mentioned is to transfer a skill set that I have acquired to others. It is like the old saying, “You can give a man a fish and he will eat for a day, or you can teach a man to fish and he will eat for a lifetime.” The skill of reading the markets and making wise trading or investment choices is one that you can use for your lifetime.
There are an amazing number of resources available to the students of Online Trading Academy. Some of you do use them, but many do not. You need to contact your educational counselor to find out how to access these wonderful tools at your disposal.
One of the major benefits to the Online Trading Academy community is the Hour with the Pros (HWTP’s). This is a one hour webinar offered in our virtual classroom on Thursdays for all graduates. During this hour, an instructor will discuss a variety of trading topics relevant to your success in the markets. The HWTP’s has recently expanded to offer a special session every other week “live” from Mumbai and also London.
Another often misused tool is the Pro Picks. The Pro Picks are trading ideas shared by our instructors for educational purposes. The Pro Picks are available along with the membership to an XLT room. If a student wishes to extend the Pro Picks service past their initial year, they can choose to do so on a subscription basis.
The best way to use the Pro Picks is to quickly look at the pick and note the stock and the timeframe. Then you should go to your own chart of the security and draw out your own supply and demand zones. Decide where you would take a trade or if you even would. Then go back to the Pro Pick to check the details and see if your analysis matches that of the instructor.
In a way, the Pro Pick is a pop quiz and the answer key for the trader. You have decided to pursue your trading education through Online Trading Academy because you believe that the instructors are excellent traders and they are. For you to become the same, you want to make sure you are following the same rules and using the same techniques.
I am not saying to stop emailing your instructors if you have questions, just do not ask them for free trading advice on a security. The best way to solicit help is for you to send in a jpg image of a chart with your notes on it and ask for help critiquing your analysis. You are going to get more out of that experience and are more likely to get a reply too!
I have attached some examples of pictures sent by students and my replies. My notes are in the pinkish/purple color.