People need the power of collaboration, even forex traders (we’re not the lone wolf of wall street here). The Apiary Fund has an innovative business model that crowdsources money management; the combination of both the trading skill and knowledge of our many traders results in an ever growing fund. As beneficial as crowdsourcing is, collaboration (working with a group produce or create) is just as important for our traders. We present many opportunities for our traders to collaborate here at the Apiary Fund, one of the biggest being an Apiary Summit.
The introvert in us might shrink at the thought of collaboration. The thought of presenting your ideas in front of a group you may or may not know can be intimidating, especially on a highly diversified subject like money management. Here are 4 reasons collaboration will produce greater success in your trading.
Some traders spend months developing and constructing their trading plan. Why spend lonesome month after month struggling to improve your trading system, when you could work with somebody willing to share and build a better one before your eyes? The opportunity for another trader to comment with fresh, unbiased opinions of your strategy can be very profitable. In half the time it took for your to build your one trading strategy, both traders walk away with confidence in their sturdier trading plans.
Creation and Innovation
Everybody, no matter what they might think, has the ability to create. Maya Angelou said, "You can't use up creativity. The more you use, the more you have." So don't be afraid to use your creativity to help others; you'll only be helping your own potential for growth. Beyond creativity, however, is innovation, or translating your ideas into action. No matter how many good ideas you have, they're useless if they never become a reality. One of our favorite Apiary Summit activities is a shark tank where groups of traders split up and brainstorm trading plans (this is the creative part). Then, they prove they have innovation by actually constructing a plan for one of our head traders to use. Our head traders proceed to pick a plan to trade and compete to see who will make the most money. It's a fun way to show our traders that their ideas are worth pursuing; it was their plan that made our head trader's profits.
It doesn’t matter how advanced technology becomes, the trading rooms, instant messaging, forum posts, or video conferencing will never replace face to face interaction. You can’t replicate the environment of walking, talking, and learning with real people. It satisfies some human need to be surrounded by a supportive group that is working and learning together. At Apiary Summits, you have professional traders all around you ready to answer your questions and advise you at every turn.
After you've collaborated, worked, and developed trading plans and skills, it's time to go home and integrate all that you've learned. Since your new friends know your goals and plans for your trading, chances are they’re going to follow up. They’ve invested time in your success, and want to know how you are doing. It might be in a forum comment, a brief email, or the next time they bump into you. No matter when it happens, you want to be able to report that you’ve successfully integrated the ideas that you generated together into your trading plan.
Apiary Summits are great opportunities for the Apiary Fund community to come together and achieve this power of collaboration. If you haven't registered yet, click below so you can join us in Salt Lake City, September 19-21st!