Looking for a paid mentor

Discussion in 'Educational Resources' started by pug, Jan 21, 2003.

  1. pug


    If you had to choose,as a new swing trader, one of these paid services to use for education and setups, which would you choose?

    hardrightedge.com (Alan Farley)
    tradingmarkets.com (Haggerty)
    Lawrence Connors
    Trade Prospector
  2. london


    Good question.Most authors and teachers dont trade and good traders dont teach (why should they).Maybe if you can stick to the Pristine guys that actually post good trades in their room.I know Dan Gibby is good but I think he only teahs options.I imagine someone of his caliber keeps good company.So maybe Prestine is the way to go.Just stay way from their beginer classes,a friend of mine took one and didnt speak highly of it.
    good luck
  3. Isatis


    Most coaches or trading schools, including some of those mentionned here, are not very good teachers. They are very good presenters, pitch throwers and/or demonstrators, but not teachers, even less coaches. Most are so good at trading now that they don't remember how stupid they were at their first trading experiences. So they are ego-tripping, flying high fancy words and concepts, and impatient with those who can't grasp them. Their pitch makes you feel you have discovered the golden panacea and recipe for making a rich living out of trading. Hu hu! Illusion - delusion - capital diffusion !

    If you want to learn, get info from books to get some guidelines. Then discover by yourself how to read the priceline, the trends, the support/resistances levels; how to buy low and sell high. Discover what are your own psychological reactions (impatience, greed, feer, angriness, haughtiness, etc) to price movements of the stock you're trading. One is trading from his emotions. The amount of knowledge to become a good trader is not that large. Teachers and coaches that I know in trading act only on knowledge, not on emotions. And without self-knowledge, one is doomed.

    In that perspective, trading can be a very enriching experience: discovering one's own universe of emotions, abilities and skills. Nevertheless, it remains, in my mind, that the best way to make money in the market is never to enter the market.
  4. klutz


    Good advice.........particularly the last paragraph.
  5. Trading markets in general has more patterns than you can count.

    Haggerty has more ways to enter the market than anyone I know, then will write condascendingly how in hell you could have missed a move when the pattern was right there.

    His opening reversal SUCK. I have had programmers in and out program all his rules, and BELIEVE ME, THEY DO NOT MAKE MONEY IN THE LONG HAUL. THERE ARE TIMES WHEN THEY DO, but over time anyone who trades his opening reversals will lose money.

    But then again, he'll throw in the added comment that you MUST USE COMMON SENSE on when to apply the patterns.

    It's all crap to sell recycled information. He turned 123 lows and highs and renamed them 123 higher bottoms and 123 lower tops. His reverse symmerical triangles is the flimsiest pattern ever concieved and my progammers came up with absolutely no way to objectively trade the pattern. Of course, Haggerty's comment again is... it has to look "symmetrical" but gives no details on what symmetrical is.

    Then we get to conners whose backtested VIX patterns really stay in the market until the mkt turns. I will give Conners credit that the VIX is a good indicator and his patterns do work, but the necessary drawdowns and skill in making them work are 8 or 9 on a level of 1 to 10.

    I could go on and on but it simply is this, those who make money don't sell, those who make money don't talk, they end up going in the managment business where they can make more money.

  6. nitro


    My gawd man, I am in the "markets" dozens, sometimes a hundred times a day profitably - why is that such good advice?

    I fact, I think all of it is bad advice - the markets are a REALLY expensive place to find out who you are.

    nitro :confused:

  7. have your "programers" ever found ANY technical patterns that consistently profit without the "intuitive" factor ??


  8. Now if you ask me what, now that I would not post.
  9. I'm a Quant Trader surf, so I will not trade anything I cannot prove through statistics.

    If I can't assign probability to it through past objective studies, I don't look at it.

    You simply can not manage large funds or be given large funds without that aspect. If you approach a bank or pension and tell them you trade patterns in the markets subbjectively, they laugh.
  10. lindq


    You must find your own path. Nobody on that list is going to give you a complete picture, because they don't have it. That is their game.
    #10     Mar 16, 2003