One additional comment that I forgot to mention is that all the performance data reported for every system is net of all fees/commissions.
mentoring and learning can be done remotely especially in this day in age (screen sharing, etc.) Dont be so quick to toss it out. Although I do agree that in person is the best, it can still be achieved remotely if the system of teaching is solid.
First, read post #67 from pistol pete.. My .02 is :study technical analysis and realize it takes thousands of hours of screen time to internalize what you are seeing. All the canned indicators out there can be useful to introduce concepts, but shouldnt play any part of any system. Besides the chart can tell you what the indicators fail to tell you.. Study multi time frames and see how the patterns within patterns behave and the relationships that exist. (I dont give a shit what Al Brooks says, only trading off a 5 minute chart in a vacuum wont work... You need to have a broader picture(s)) Whatever style you choose, understand the probabilities and expectations regarding position size, risk reward ratio, and win/loss ratio. You can have a system where you are correct <50% of the time, but with a proper r/r ratio be profitable and you can have a system where you are right >65% of the time, but lose $$$........ That formula needs to fit your systems expectancy properly. Understand volatility cycles and market structure. The more mistakes you make, the more you learn. Just keep them small. mistakes are your cost of your ongoing education in a sense. If you get frustuated stop trading for a few months, and study/research on the side (look at it as a hobby in the meantime. You are going to have to be passionate about learning this stuff, it is too frustuating if you dont have the proper attitude.). No shortcuts unfortunately unless a solid mentor can be found to speed up your learning curve. Even then, you need to learn how the markets work, as they constantly change, and systems need to be revamped. This can only be learned over time and different market conditions.
Jack Hershey wrote that way so morons wouldn't benefit from his disclosing of his method. It works ...
^^^ Truth. If I may amend, he disclosed his method freely but kept money grubbers from taking without giving back. He did it with logic locks. His writing screened those folks. It also locks up folks whom believe such a thing is not probable nor possible. Just looking at the content of the trolls, distractors and disparagers posts in response to his concepts proves the point. However, those whom resonate with paying-it-forward, open source, and engaged in thoughtful discussion, worked with the concepts and posted their work, I personally have a deep and abiding appreciation and gratitude towards. It's all there posted buried on the various places on the net and just a long tail search string away. Taking a step reveals the next. There are no short-cuts, doing the 'work' is the prerequisite for the 'proof', at least proof that makes any difference. Arguments about the above is simply arguing to argue. The arguer is always right within the limits of their own beliefs. Pure genius!
Can you please elaborate on who is Jack Hersey and where can I find his stuff? I know that the user 'acrary' has posted some gold on this forum back in the day. Is 'Jack Hersey' someone else who's posts are worth reading?
Jack was a guru on ET now deceased. He has a cult like following by a minority, follow him if you wish to join. Personally, I could not make head nor tail of the rabbit hole ramblings.
I started trading at a prop shop (billed itself as a “training office”) after an initial 2 years retail options account. My thinking was it would fast-track my understanding of the market. Indeed it did-go into a prop shop with an open mind and willingness to learn and listen and one can learn “How” to trade. Get into the right shop- I can imagine one wouldn’t want to leave.