I am starting a short series of blog posts about why every trader/investor should pay for coaching and mentoring not just ideas.
The next generation of investors and traders are growing up mobile. They are not used to paying for anything. I doubt that changes. They are being pitched robots and ‘tax harvesting’ and low fees.
Ten screens is cool if you think you can trade or invest, but why not leverage the people using those screens from the last generation to deliver you the best ideas at the right time and the right coaching on demand? That is how I do it. No real tricks or shortcuts.
In the spirit of how I do things I want to dive into the products I rely on. Of course there are people behind the products and I am very friendly with all of them, but I know they can help the next generation because I use them and or pay for them.
The first product/person I want to focus on is ‘All Star Charts‘ created and run by JC Parets. JC is a good friend. I met JC because I started Stocktwits. Josh Brown was friends with him and likely introduced us. Phil Pearlman is my rabbi when it comes to who I can trust and who I should pay attention to when it comes to people and the markets and in 2009 or 2010 I started to follow JC.
He shares so much for free on Stocktwits you don’t NEED to pay. But if you do like his free ideas, commentary and coaching you should pay. Period. We live in a moment where transacting is mostly free and so get the right people in your corner and on demand.
The most important thing to do with the people you are paying for is to get coached and mentored not to beg for more ideas. I am super confident JC will give it as he does for me and hundreds of others who subscribe.
JC looks at the markets in a different way than I do. He lives and breathes what I call ‘Chart Art’ and relative pricing. Most importantly though he makes me money. I don’t follow every day. I don’t open every email. I don’t want extra ideas from him. The few times a year the stars seem to align the most I know I can count on him. In the meantime his ideas and thought process flow and I digest and curate.
I asked JC for a discount code in case you want to sign up and pay. Stocktwits would even make a few dollars to pay for the lobster we serve daily at employee lunches.
Also published on Medium.