A Vital Chatroom, A Community of Traders

By Ken Long

 

Vision Statement

 

Inspired by the powerful networking I have seen develop over the years through the Super Trader program and in the partnerships and collaboration among attendees at many VTI workshops, a group of traders with a shared interest in swing trading and intraday trading have been developing a daily community of practice.

 

This is what we refer to as the Chatroom. And as an attendee of a Day workshop, you get free membership and access to this chatroom forum. And while this membership is free to workshop attendees, the value of this ongoing interaction and learning is likely as valuable the workshop itself.

 

We put together an initial vision statement to make sure we had a common framework to work towards. I find that these are qualities that you can expect to encounter at VTI workshops in person as well. We wanted a way to maintain that feeling and the spirit of cooperation after we all headed back home. I encourage you to find ways to create healthy and helpful environments to support your own development as a trader.

 

Vision of the community From Day 1 we have operated with this vision. We want the community to be:

  1. Voluntary: People that we know are interested in our kinds of trading would be invited and offered a free unlimited trial, as a way to work through insights from Ken Long workshops in a no-risk environment.
  2. Participatory: Each member is invited to participate as they feel moved to do so.  There will be no pressure to talk, contribute or attend. Transcripts must be available so that people from different time zones can participate in a conversation distributed through time, location and topic.
  3. Friendly: A moderator will be able to enforce standards of acceptable public behavior. The intent is to let the community find its own level of acceptable discourse, but in general it must pass muster with my mom.  We will not say or do anything our moms wouldn’t approve of.
  4. Humble: We will try to maintain a spirit of humble cooperation, acknowledging that the markets are not only unknown, but may very well be unknowable.  We will approach the market and in our discussions acknowledge that trading is like sneaking up on a sleeping grizzly; tread lightly.
  5. Energetic: The environment must offer enough reliable, frequent value to be a place where people are eager to participate on an intraday basis through weekly basis or it will die of its own weight and irrelevance.
  6. A place for reflection: We must have ways not only to trade intraday in fast moving markets but have the ability to conduct and review thoughtful reflection.
  7. A gathering place for community ideas: We want this to be a place that people naturally think of to share their new ideas, lessons learned and insights.
  8. Efficient: The community site must be simple and intuitive to operate and maintain, and allow for multiple modes of communication so that it is a one stop shop for community information sharing needs.
  9. Effective: Value must be added through the process of sharing, reflection, discussion and information storage.  People will be encouraged, furthermore on how they derive value, so that others will be encouraged to try it.
  10. Flexible: The community solution must support multiple modes of discourse, allow for storage, have the possibility of multiple sub-groups and self-directed work group areas.  It must have security, privacy, storage, transcripts, images, text and multiple modes of formatting. It must also be scalable as the community grows.
  11. Web-enabled: It absolutely must be accessible through the web, through multiple end user devices in order to be useful to travelers.
  12. Low maintenance: it must have a simple robust architecture and simple tools for routine administration.  Individual members must be able to configure the environment to their preferred work mode.
  13. Support world wide access and time zones: There must be no limitations for members access based on geography or time of day (This quickly became synonymous with the Web-based criteria).
  14. User-driven: The community of practice must be able to drive the direction, mode and content of discourse. It will not be imposed from above.

Based on our daily practice, we are well along the way to achieving our initial vision. Collaborative learning is a very powerful force for good.

Click here to view a video of a 30 minute example of some of the different kinds of discussions that arise from our chatroom trading community of practice.

 

 

 

 

 

Learn about Ken Long's upcoming workshops and register to attend!

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