The Weekend Trader - A New Experiment

Go the distance.

As I sit here on a beautiful day in the Northeast's version of paradise exactly one year after the launch of this diary and week after that nasty bump on the head, the vision that's been gnawing at me over recent weeks seems to be coming into view.

And if I had to sum it up in one inner dialogue, it would be, "The diary experiment was a good start Don, but you can do more. A lot more."

If you build it, he will come.

After pondering much feedback over the last few weeks, and upon finishing reading "Me, Myself, and Bob" this morning, I'm moved to finally push aside some underlying fears and hesitation and simply begin to take some action by sowing an experimental seed this weekend.

For just as I firmly believe there was a bigger meaning in last year's personal Bamboo, I also believe there's something significant "below the surface" of my recent lack of passion and consolidation period that's trying its darndest to bust out ... if I'd just simply step to my right.

Ease his pain.

And so I'm stepping.

Here's the vision:

Hand-select a small team of existing traders (no more than 20) deeply committed to personal and team growth, and provide & facilitate an ongoing support environment that provides participants with a foundation for optimal trading and personal growth over an initial three-month test period.

And while we wouldn't call it "Turtles II" for a host of reasons (I wouldn't be providing capital, and there would be some infrastructure cost and other differences), I'm thinking of either "Bamboo I" or "Jellyfish I" ... with Jellyfish borrowed from Phil Vischer's concept of simply floating with life's -- and presumably the market's -- current tide.

I've frankly struggled with this concept for a while now, as I know all-too-well from deep personal involvement the pitfalls of group efforts in a business where motives can be hidden, self-sufficiency isn't promoted, and where individual focus and skill development is paramount. I'm also well aware that some might incorrectly view such an attempt as my "turning to the dark side" ala Anakin Skywalker by lessening my focus on my personal trading (quite the contrary ... if anything, the idea would be to ramp up the intensity), or heaven forbid, using what have become very public results for personal gain. I can already see it coming from some dark corners, "I told you he was too good to be true ... he did have a hidden motive and reason for the blog ... and even hosting that darn cookout. He's one of them!" And dogs indeed bay at the moon.

Yet let me say it once for the record: If the consensus among those who I respect is not to proceed with the concept, then the idea will be allowed to quickly die on the drawing board ... as in a trade contemplated but never made. And if so, I'll simply move forward with the next leg of my own personal journey.

Ultimately of course, people have the free will to draw their own conclusions. At my end, I know who I am and have reconciled those and other concerns with the continuing gnawing passion I have for this business, and the firm belief that I'm supposed to again get off my a$$ and fight for more than just my personal bottom line.

If the concept floats (pun intended if we went "Jellyfish" route) and after I complete a thorough legal review of such an endeavor, then my commitment would be to launch such an effort as early as August and involve the team in fine-tuning the format. The yet-undetermined participant cost would be to cover communication infrastructure and yes, some of my time that would shift completely away from my other bill-paying endeavor. Please keep in mind that I don't have to do this. I'm also going to speak with Pat Lafferty at MF Global to see if commission cost and other economies of scale are possible.

And if (yes, that's bold red) we were to move forward, participation would be purposely screened and capped -- with a possible waiting list -- to maximize the benefit of those involved and maintain a focused and professional atmosphere. For I'm not interested in dealing with immature team members, legal headaches, or making a living off of this. I'm a trader, and always will be. There would also of course be no marketing, hype, etc., and I'd do my best to keep the darn thing as low profile as possible outside of the confines of those participating.

After three months, we'd then collectively evaluate the team's results (including mine) and feedback to determine if it was worth continuing, repeating, killing, tweaking, etc. So I suppose we could consider it a probing trade entry with an unknown return.

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A year ago, we began one helluva unique experiment without knowing its outcome. Boy did we not know its outcome. And while I of course can't and won't guarantee success for those choosing to participate in the proposed beta team should we move ahead, and I haven't yet worked out all the details in my mind, I can commit to 120% dedication at this end, as I simply don't believe in doing things half-a$$.

If you're seriously interested in the concept and would like to be considered, email me with a brief background and contact phone number, and we'll go from there. As always, I ask that any general questions or comments be sent via blog comments for all to benefit from the conversation. First consideration out of courtesy will be given to those making the trek here last week.

Yogi Berra of course once said, "When you come to a fork in the road ... take it."

And while I admit hesitating quite a bit before clicking "Publish Post" on today's entry ... much like that first post one year ago which reflected one giant leap of faith ... my wife reinforced it's the right thing to do and told me to just hit the darn button.

There. Several of you have been screaming at me to consider doing something like this, and I've hesitated for some very good ... and perhaps not-so-good reasons.

The path I now choose to take is once again out of my hands, and I'll be comfortable on either one as I personally embark on my next leg.

Phil Vischer would probably say that's the way it's supposed to be.

Go the distance.

Happy Birthday Blog and Happy Birthday U.S.A.