Yacob, Find a mentor that is willing to trade your funds and you split 50/50 the profits with him as fee for the mentoring. Ask to see his statements for the last 3 months before you let him trade your money. All the other "mentors" you can put for the biggest part in the slick sales- men category, including the ones pos- ting on this board. (exceptions always apply:0) Just like most traders lose, most "men- tors" don't know how to make profit in their own accounts.
First of all, my intension to find a mentor is not for him to teach me his trading style but to teach me do right way to trade the market, to share my information wheather correct or wrong. Also, giving me advices and to motivate me. Person like me, we can't afford to pay. I have loss alot of money in trading but i don't give up! Becase my heart says there is a way to win/trade the market. I hope you people understand. p/s: sorry im not good in english. Yacob
No but I myself was mentored for free until I realized what the hidden costs were to myself and for my mentor. As to my hypothetical example, it is actually about an online trading pal that recently realized the hidden costs that's associated with being mentored for free. I made up the city and toll fees aspect of the story to spice up the story a little. Mark
To mentor someone is someone that teaches what they know. How can you be looking for a mentor while not interested in his trading style but you expect for him to identify when your doing something right or wrong??? Heck, lots of traders here at ET getting answers to their questions, their approach to the market analyzed et cetera... All for FREE across many forums here at ET. Simply, start a journal, post your trades and talk about the specifics of your trade methodology and you'll get lots of advices... All for FREE. Thus, sounds like your not looking for a mentor but more of a motivator... Someone to help you stick to your own trading plan, someone to help you make improvements to your trading plan et cetera since you imply your not interested in the mentor's trading plan. A motivator, for example, are easy to find. Look at the PnL thread in the Journal Forum here at EliteTrader.com http://www.elitetrader.com/vb/showthread.php?threadid=61514 There are a few traders in that thread that are inspirational to others including one trader helping one of my online trading pals to try harder and stay focus. So far...its working and he is more profitable (actually, still getting losses but just not as bad as before). Also, look at the Journals Forum...lots of traders that have journals are getting free help with many different aspects of their trading. http://www.elitetrader.com/vb/forumdisplay.php?s=&forumid=29 I mention the word Motivator because I knew someone in college that had a motivator to help him perform better in his academics even though the motivator was not taking the same studies. My friend was a biology student and his motivator was a graduate student in journalism. Also, lots of top athletes have motivators that don't even play the sport. What I'm saying is that you can find a Motivator (someone to inspire you to perform better) even though you and that trader may have different trading styles or not even trade the same trading instruments et cetera. That additional info you just gave about what your looking for should clear things up a lot for those that plan on contacting you. Keep the forum updated in how things work out for you and the motivator. Mark
The above "hypothetical" story must come from some very experienced mentors. Otherwise, why not the mentoring/ communications can be done through the Internet? That'd be something completely beyond my (a trading newbie's) comprehension.
<i>Quote from CaptainObvious: "Most people, myself included, couldn't be helped by a mentor if one actually showed up. Why's that? Can't devote enough time to trade. Undercapitalized to boot. Why would a mentor waste their valuable time with that?"</i> <b>Obvious</b>, by your very own words, you are exactly the reason why "mentors" come in the form of paid instructors. <i>Quote from CaptainObvious: "True Mentors don't charge a fee, which is why they are so rare. Paid trainers...dime a dozen. Most aren't worth the dime."</i> With all due respect, you are hardly a valued opinion on the subject. What basis do you offer an opinion on? Did you fail with the paid mentor approach only to succeed wildly on your own after that? Doesn't look that way to us, by what you share. Your dismissal of paid mentors is exactly like me dismissing a college education as worthwhile. How the hell would I know? I quit high school in 11th grade, for pete's sake. Capiche`?
<i>"First of all, my intension to find a mentor is not for him to teach me his trading style but to teach me do right way to trade the market, to share my information wheather correct or wrong. Also, giving me advices and to motivate me. <b>Person like me, we can't afford to pay. <u>I have loss alot of money in trading</u> but i don't give up!</b> Becase my heart says there is a way to win/trade the market. I hope you people understand. p/s: sorry im not good in english. Yacob"</i> Yacob, your english is perfectly fine. We have no problem understanding you. One question: did you <i>lose a lot of money</i> (your words) trying to trade before securing a solid education about our profession? Is it possible you put some money in an account and traded live market action before seeking out and clearly understanding a solid trade method approach?
You can mentor through the internet but only as follow-up to in person mentoring. In person mentoring allows the mentor to actually watch you trade and to determine if your environment has any impact on your trading results. In person mentoring allows the mentor to address and resolve discipline problems the trader may have. I won't bother making up another hypothetical situation to explain why in person mentoring is the proper way to mentor. Simply, traders hide (intentionally or not intentionally) or underestimate too many things that have impact on their trading results via online education that they can't get away with (its easy to identify) during in person mentoring. Some of the above has to do with the mental aspect of trading, some of it has to do with being prepared to trade and many other things that an online mentor cannot ensure is in place for a trader to succeed at trading. Also, don't make the error of considering giving someone the details of your method (code or rules) written on paper or as a computer code to be mentoring and then walking away from that trader as if they have the keys to success. There's a lot more to trading than that and easily explains why two traders using the exact same method (code or rules) will always have different results and in some cases... One is profitable while the other is not profitable. Lets put it this way...treat your trading as if your learning how to play and succeed in a particular sport. Doing that and you will dramatically increase your odds of being a consistent/profitable trader. Regardless whether the mentoring is free with hidden costs or cost you a bundle upfront via a fee... Do it right or why bother with trading in the first place??? No such thing as a free lunch in this business nor are there any easy short cuts. Mark