Looking for a paid mentor

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

  1. paulr


    Bo Yoder at RealityTrader.com (bo@realitytrader.com) can teach you to be a successful swing trader. I am in no way associated with RT, just a happy customer.

    #11     Mar 16, 2003
  2. Brandonf

    Brandonf ET Sponsor

    From "Street Smarts" by Linda B. Rashke and Larry Connors.

    Page 2 and 3.

    "None of these strategies is designed to be a mechanical systems. Be greatful that they are not! If they were, a large fund would come int the marketplace and exploit the edge. It is estimated that over 90 percent of the large pools in the commodity markets are run on a mechanical basis, systematically attempting to exploit trends. It is very difficult for these funds to move large amounts of money on a short-term time frame. They do not have the luxery of using resting stop-loss orders without risking adverse slippage. They can not be as nimble as the small speculator can - and herein lies your dege. "

    It's my opinion that each person ultimatly has to find what will wrok best for him/herself. A lot of people who are attracted to trading are mathematical/engineering types of people, and I have found that the fluidity of discretionary technical analysis can really drive them to fits. On the other hand, a person who is more artistically inclined is driven to fits by the rigidness of a 100% rules based approach. Ultimatly each person has to find what works for them. Personally I like to have something that gives me a known statistical edge that I can apply using pattern recognition once the event(s) trigger. When I do private mentoring with people I tend to spend a long time just trying to get to know the person. The very worst thing I could do for them is to try creating a bunch of "minime's" as that is unlikely to fit with each persons unique make up.

    #12     Mar 16, 2003
  3. london


    I agree with Isatis but Nitro and offshore make good points.The market is an expensive place to learn and getting thru the filler crap in books and so called gurus is costly also.So how about this guys.This is what I do.Keep it simple.Learn price action i.e. support and resistane,patterns,fibonacci retracements in all time frames and include pivots for intraday.Fibs are prtty simple to use,draw them from the high/low to the
    low/high of where you want to use them in anytime frame and you will see how the price acts around these levels.I personally learned really quick to avoid indicators and have managed without them but do use MA's on daily charts.There are several problems with ind8icators one is that they lag (including MA's)the other that some are oscillators another problem is that the extreme's can get more extreme or fail to predict a change in direction.
    #13     Mar 17, 2003
  4. lescor


    Look at Gary B. Smith from Realmoney.com. I learned how to read charts and apply proper money management to trading from him. Two years later, it's still the foundation for how I approach the markets. He's humble, has straight forward strategies and can relate ideas well (he's been a professional writer longer than he's been a professional trader).
    #14     Mar 17, 2003
  5. please dont subscribe to those websites. best mentor: wsj, ticker tape and your diary.
    #15     Mar 17, 2003
  6. Bob111


    all true...

    here is my two cents- read or just take brief look on 2 books-
    "Trading systems and methods" by perry kaufman and "encyclopedia of trading strategies" by j. katz

    you will see and maybe realize, what people can do in attempt to make money on stock market)))))))))) there is all kind of sh...t. from lunar and solar cycles to generic alghorythms))))
    i hope-it will keep you away from markets for long time.)))
    BTW-why authors of all those bullshit books are jews?)))))
    #16     Mar 17, 2003
  7. and I do believe most coaches are poor and ego tripping is big.
    Having said that I have used trade prospector and from your list
    that is the better choice.
    let me explain. I don't much like chat rooms and paid bulletin boards. These guys are just the new stockbrokers of the 3rd millennium....(even if you find a good one for a year - he/she will
    run out of luck sooner or later, I question how much these internet brokers actually teach you...
    On the other hand trade prospector teaches you a lot.....

    If you want to learn money management and some fine points of futures trading I can help you myself. I think I am more reasonable than most coaches and I have no ego :)

    #17     Mar 17, 2003
  8. omcate


    I met a trader in early 1999. He asked a lot of questions about the trading strategies of the hedge fund I worked with at that time. However, he never mentioned his own trading strategies. Later, I learned from a friend of mine that this guy has been earning millions of dollars every year for his employers. Now, he is a manager with several traders working under him. He fits your description pretty well.

    :p :cool: :cool:
    :D :p :cool:
    :D :D :p
    #18     Mar 17, 2003
  9. klutz


    The odds are pretty good that this guy will never make anything from the markets.So considering this, the advice that the best way to make money in the market was never to get into the market is excellent.

    Yeah I know its great to dream but a healthy dose of realism/skepticism/cynicism is a great friend in the market and whereas in most pursuits a fearful approach is a guarantee of failure in this game it helps you survive.

    Pug......the bottom line is that you cant expect anyone to teach you because if they knew how to do it they would'nt be telling you. If you decide to give it a go then spend a year looking at the charts, studying every days price action, and then spend the next two years after that trading one lots. If you still want to be a trader after that then good luck.
    #19     Mar 17, 2003

  10. yes, it is people like yourself who create the volume and patterns that everyone else follows.


    #20     Mar 17, 2003