Making trading calls for friends = I want to poke my eyes out!

[techinvest]

A few friends of mine wanted to play the forex and I agreed to coach them a bit as far as my entry and exit points. A word to anyone considering this, do NOT do it. This is the most stressful thing I've ever done in my life. I mean forget about a trade going down at which point they're asking when they should just chalk it up as a loss, but when the trade goes up, they want to know if they can get out at every positive pip. I just signed out on all of them. I know I'm just ranting here, but I have no one who I can rant to about the Forex but you guys... so tell me it's all ok and not to stab my eyes out

I mean, this was supposed to be easy, right?

[reddragon]

Hi,
Ok! - they were your mates and hopefully still are. But ask
yourself "why should i do someone else's thinking for them?". If someone wants the good things in life then they
should be prepared to get off their backsides and put in the
time and effort to aquire the knowledge and experience
neccesary to succed. Everything in life boils down to an
individual having knowledge and experience.

Trading ROCKS!!!!!!.

[techinvest]

Originally Posted by reddragon

Hi,
Ok! - they were your mates and hopefully still are. But ask
yourself "why should i do someone else's thinking for them?". If someone wants the good things in life then they
should be prepared to get off their backsides and put in the
time and effort to aquire the knowledge and experience
neccesary to succed. Everything in life boils down to an
individual having knowledge and experience.

Trading ROCKS!!!!!!.

Oh we're still friends. I didn't abandon them in the middle of the trade.

I agree completely with you about them doing their own thinking and this was exactly SUPPOSED to be the case. I found out soon enough that explaining the system was a waste. They just wanted hard entry and exit points to be handed down which is fine, and I'm sure that there are some good trading signals providers out there And hell... if I was that good I'd have paying customers too

The thing that REALLY got to me though was how it rattled my own confidence. Ever had someone question every pip move against you? Man... I was reconsidering all of my trades after a while. They say that tradiong is a lonely game. Well I just found out I like it that way. I'll save the socializing for the pub...

[ajhardesty]

This forum is testament to the fact that most people see Forex as easy money and don't see it as being much more difficult than a blackjack game. "Don't confuse me with the details, just tell me when to buy and sell." If they profit, they keep the money, if they lose, you get the blame. What could be better than that? You learned the lesson the hard way, but it sounds like your friendship survived.

[mart_hart]

Sounds worse than teaching the wife to drive



Martin

[ampris2000]

you can weed out the curious from the serious.

tell them you'll help them learn trading but they have to pay you some money. don't make the amount too large nor too small. tell them it's strictly business not linked with your friendship.

then what will happen is alot of people won't put up some money. the one that does you'll know you have someone that is more likely wanting to learn and will learn.

anthony robbins (a success coach) would have people pay him thousands of dollars for one private session to help them change. not so much so he could get some money from them, but he knew the ones that paid were "ready to change" and "would do anything" to change. all he had to do is push them in the right direction.

[mrbrint]

Yeah I wouldnt bother trying to help a majority of people simply because where I've put in the work to learn something a lot of people just want the work done for them. That is not to say there is not teachable people around.