Impossible to find a real pro with a real edge as a mentor?

Discussion in 'Professional Trading' started by dancalio, Nov 13, 2008.

  1. dancalio


    You get what you pay for. Anybody willing to tell you about their winning system for $500 doesn't have a system worth paying for.
  2. pclark


    You are correct. So, what is the purpose of your post? Were you just trying to see what type of reponses you would get? (I'm not being a smartass) Just curious why your obvious statement?
  3. Not true. A good winning system should be able to fit on a bumper sticker. But it can take years for a trader to master his emotions in order to successfully implement it.

    The monetary value placed on the system depends on simple supply and demand. You can find a winning system in a trading book for $15 or you can pay thousands of dollars for essentially the same thing obscured by hundreds of indicators, technical setups, oscillators, etc. But good winning systems can be distilled to the same few general concepts.

    Traders can make their systems as convoluted or as simple as possible. Both methods can work. But keep in mind that out of the hundreds of technical formations out there, they all boil down to four basic setups that will make money. You should keep things simple in order to prevent from being lost in a sea of information.
  4. duh, 'ya think?
  5. ok i'll bite. what are the 4 basic setups?
  6. You just have to dig further and try harder to find people willing to help.

    One place to look is the ET chat. Everyday there are people in there willing to help and willing to 'hold the new guys hand'

    next time your sitting around waiting for your next setup or when you just want to get someone elses thoughts stop on in.


  7. dinoman


    Most part true, but not always the case. There are a few people on this planet with morals and the excitement of watching others gain and prosper from those who have gone to battle in all market scenarios.
  8. Let's start with an analogy. There are tens of thousands of fiction novels in the world. So how many basic themes are there? Only three: man versus man, man vs. nature and man vs. himself.

    And how many basic technical setups are there for successful daytrading? Four. They are:

    1. Breakout from a consolidation

    2. Breakout from a pullback in an uptrend

    3. Breakdown from a consolidation

    4. Breakdown from a rally in a downtrend

    That's all there is to it. Now go and make some money!:cool:
  9. You are confusing Vendor and Mentor

    The one is selling you a product they have developed. The other may help you use the product.
  10. AK100


    The word vendor and mentor are one of the same now.

    'Mentor' used to mean something but then the marketers hijacked it.
    #10     Nov 14, 2008