I consider you lucky to have mentor online and others benefited in such a short time period. Hopefully, the student can continue success. More importantly, when market conditions change...that success will continue because some do not adapt well and will then blame the mentor even if the mentor was no longer working with them. Further, I hope you recorded your mentoring sessions. wrbtrader
personally I think not wise to be mentor to stranger . OK to be mentor to best friend or relative. if something bad happen to stranger, he'd most likely blame mentor. chances of trader to be successful is very slim.
trading 3 min, as my student did, has that advantage that you generally see all market conditions in a very short time.
but i think you must 'enjoy' it if you are a trader. i do not mind it it gives me something to think about and especially now it is also healthy to stare at a monitor and not go out! you may remain alive because of this
Beats the alternative: When you have a day job instead, you get yell at by your boss and your customers all day; you get constant complains from your underlings and undercut by your coworkers; you have no authority yet have to meet tight schedules for an underfunded projects... I can go on and on. With trading, it is you against the market. Nothing romantic but life is good.
there is a lot of pain in a job.........but the gain is the check comes same time every time. but a trader is truly free and that is why he is envied by everyone. Everyone may not realise it but even the President of the most powerful country in the world.... is a prisoner
Padutrader, Your problems may have involved the misunderstanding of what coaching versus mentoring is between you and those you've worked with recently or in the past when you mention the distraction issues. Coaching and Mentoring are two of the most commonly misused words in the trading industry because many traders / educators do not know what they are nor their differences. Simply, they often get the two mixed up or involved in something that's neither the two. Coaching involves teaching someone how to trade beyond a trader learning a trade strategy. In contrast, the mentor tutors and guides the trader through his / her career as a trader beyond the individual trades. Thus, coaching is more performance driven as in on-the-job performance during each trade whereas mentoring is more development driven as a trader in the career of trading. Mentoring is a long-term process based on mutual trust and respect...relationship related. Coaching, on the other hand, is for a short period of time and task related...conflicts may occur. Mentoring is more focused on creating an informal association between the mentor and student, whereas coaching follows a more structured and formal approach. A good way to understand is that the mentor sits at the top of the hierarchy whereas the coaches are below the mentor. In fact, the only real mentor I've ever met...it was a mentor that hired coaches to work together to coach a student. Therefore, teaching someone how to trade is someone that's being coached whereas a person guiding someone through the career as trader is a person that's mentoring. Sharing your trade strategy here at Elitetrader.com or on Skype is not mentoring and most likely was not coaching. wrbtrader
Most traders are not free, they are slaves to trading because of the constant fear and constant worry of finding profits to put food on the table. Traders are truly free and fearless only when they can generate more profits than needed to put food on the table. The only way I know how to do that is not to quit a day job until you don't need one. That means you hone your skill without worry and only start full time when you have a proven system. Unfortunately most young people don't have the patience.