Phase 1 of Mentoring Monastery: I have accelerated my timetable for getting the Market Monk Mentoring Monastery plans started. Currently I am in the process of selecting qualified candidates from the list of respondents. My goal during phase 1 involves finding existing full time traders who are ready, willing and able to trade their own 5k account starting with 1 E-Mini S&P 500 contract and compound to 50 contracts based on my real time signal calls via voice and text chat. A natural process of elimination will occur during phase 1. In other words, I am looking for people that can trade my method. Only a small percentage of people can trade and of those that can trade even fewer can trade and reverse all day, even if they are lead by the hand. Those that make it through the first phase will then be considered for phase 2. Phase 2 will take 6 - 9 months to complete and will involve personally training a small team of equity partners selected from the phase 1 group to trade my method in various markets within a hedge fund structure. The purpose of the mentoring monastery idea is to find potential equity partners who can trade my method in my hedge fund in which my money is invested. I am not about to hand over my money to a trader unless they can prove to me they can trade their own money and compound it using my trading method. Hence, the real time signal calls during phase 1. If you have read the introduction to this blog you know there is no free lunch with alcoholic beverages here. If you are not interested in putting your own money at risk then I am not interested in working with you as a partner. I am looking for equity partners, not spectators with an axe to grind who want free real time signals for entertainment and gossip purposes. There is a buy in involved to participate in phase 1. Make no mistake about my intentions or motives. I am extremely confident that the traders who actually trade my signal calls will make a lot of money that will enable them to put $500k + into my hedge fund. I can not guarantee it only because I live in United States of America and there are a few statutes, of the 60+ million, that would be violated if I did. But if we were sitting in international waters on a yacht I would be more direct about the real potential phase 1 offers the candidates I select if they take all my signal calls. As a consequence of focusing on my mentoring monastery plans I will not be posting to the blog regularly. To all my regular readers I encourage you study every trading post with chart(s), read the books I recommend and especially continue with the implicit learning process. I sincerely and truly wish you all the best in the years to come. Respectfully with gratitude, Market Monk
Candidate Qualifications for Mentoring Monastery: The following qualifications I consider perquisites in order to qualify for a mentoring position: 1. You have studied all the trading related posts and charts published on my PMTC blog. 2. You are in the process of reading the books I recommend in the blog and have read Learning to Trade: The Psychology of Expertise by Brett N. Steenbarger, Ph.D. http://www.greatspeculations.com/brett/learning_to_trade.htm 3. You are currently trading stocks and/or futures full time and are financially supporting yourself via profits and/or savings. 4. You have 5k in risk capital that you are willing to put at risk in a real money trading campaign following my E-Mini S&P 500 trades that I call in real time. You must be willing to compound your initial 5k using profits until you reach at least 50 contracts per trade. 5. You have an additional 10k in risk capital that you are willing to spend to become a team member of the monastery. 6. You are not afraid of making millions of dollars trading my money, your own money and that of team members. Believe it or not many people are scared of success. The responsibility of success is overwhelming for many. 7. You are willing to use QCharts real time charting software. If you are still interested then please reply to this message with details about your trading background and any information that you feel would help me understand you better.
Hello Ripley: It is pretty clear that you are a scam artist. I intend to complain to the proprietor of this site. I believe that a person of common intelligence who takes the time to think about your "offer" will come to the same conclusion. For those interested in learning a similar approach to trading that does not cost thousands of dollars, please google "Teresa Lo". For those who do not know me, or are concerned that I might have a financial interest in Ms. Lo's site, please read my previous posts. Although I have limited patience with scam artists and fools, I believe I represent myself accurately as a person of good will. I have no interest in Ms. Lo's site, but I like her common sense approach to trading. Best of luck to (almost) all of you. Thank you, Steve
And yet you post in a manner that implies that you are. I think I have wasted enough time with you today. No wonder serious traders don't stay on here. This site has become basically a gathering place for eccentrics, scam artists and idiots. I think I will take my own advice and stop right here.
I mean, reading that Blog, Market Monk is a very experienced market participant. And it is also true that you have to be focused on one market at all times. Take one market and learn everything about it, and hold a position at all times. Since he has a winning method, it is only natural that he would want other adept people to apply it over to other markets. But, why is the fee 10K and all you need is 5K in your account. That is what I don't get.
After receiving a PM from Ripley indicating he and Market Monk were not the same person, I thought I would give the new guy the benefit of the doubt and remove my post. Ripley said he only wanted others opinion on the guy [Market Monk]. While I agree with steve46, the post as written appears as if Ripley and Market Monk are one in the same, Ripley may have simply used copy and paste without realizing how such a practice would appear to others. I advised Ripley to clarify the discrepancy. - Spydertrader
How do you go from postings this: http://www.elitetrader.com/vb/showthread.php?s=&postid=744569#post744569 to providing signals for the ES for others to follow? I'm confused. Are you learning or mentoring?
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