Mentor Required

Discussion in 'Professional Trading' started by utl1, Nov 21, 2003.

  1. utl1



    I am a 35 yr old male, I live in Scotland UK, I am married with 3 children

    I have been trying to learn to trade for two years, principally day trade the ES. I will not bore you with the details.

    I have papertraded only, I intended to spend real cash when I could show consistant profits.

    I generally work on an equal time rotation on the oil rigs in the North Sea. I am fortunate to have much free time when offshore and when in my offtime at home. I have not been slack in my attempt to master trading.

    I have now come to the realisation that I need some help.

    Is there anyone willing to be my trading mentor ?

  2. I sent you a PM with a suggestion. Good luck.

  3. PM me.

    Include an internet e-mail address.

  4. In my opinion the best place to start is by going to Their software package comes with a huge book - technical but excellent reading... with fantastic software .... and with a choice of 3 or 6 months free intraday or daily reports which give you a huge education on applying a basic approach to viewing the market and trading. Those people are workaholics. Can't believe their work ethic. Worth every penny and much more. Truly, mentoring par excellance.
  5. I know the road you are describing. I spent a couple of years traveling it myself and of my experience I can say: Learned a lot, didn't make any money.

  6. Just a cautionary note: there are probably more trading "mentors" than there are genuinely successful traders.
  7. Sanjuro


    Yes, there seems to be many unprofitable traders here giving trading advice to everyone.
    They should work on getting themselves profitable first.
  8. Did you mean just papertraded for 2 years? You must be
    real patient person. If you papertraded for twp years, and
    have not figured out how market does work, then difinitly
    you need a Pro help.

    Be prepered to spend at least $25k for a real mentor.
    Anything less than this, don't stay away from him but
    run away from him.
  9. H2O


    My best advice,

    Since you don't live in the USA (where most of the pro firms are) I don't think it will be possible for you to go with such a firm and get your education form them.
    If you're lookign for a mentor, what are you expecting ? (Someone who's in a chat room with you, on the phone, nect to you in your office ?)

    In the end you'll have to do it all by yourself.
    Open an account with a direct access broker with low fees for small trades (Like IB) and deposit $27.5 - $30 K in it.
    Get a charting package and a datafeed. (PM me if you need info on this)

    Now start trading YOUR style with real small size (100 shares) and learn the hard way.

    It sounds strange but :
    - This is the only way you know how it feels to have money at risk (even if it's a small amount)
    - This is the only way that forces you to investigate your time / efforts in understanding the market
    - This will save you from following someones advice. You have to trade YOUR style and make YOUR decisions based on YOUR point of view (system). If there was some kind of system out there that would work for everyone, the markets would have taken care of it already.....
    - Keep a log on every trade you make. (why)

    If your account falls below $25K you're not allowed to daytrade anymore, find out what went wrong. If you did, fill up the account and start again.

    Don't start with futures, leverage will kill you. (And since there are so many traders out there trading them, it's a very though game)

    Hope this helps
  10. With the kind of advice you have given, I doubt you
    are profitable. The guy said he is papertrading for two
    years and he sould already be aware of what PDT,
    Cons & pros of margin in Futures.

    Puting $30K real cash at hold in his account for trading just
    100-200 Shares? not good idea.

    I belive 90% of people never papertrade and they invest
    real money. If he has papertraded for two years, i can say
    in one hand he has patience edge over many people and
    in other hand he has no edge to figure out trading in his own.
    #10     Nov 22, 2003