Hi guys, Hope everybody is doing well in this market. Did you had a trading mentor at the beginning of your trading? I mean a mentor where you had personal contact or skype, not in a forum or so. Do you have any tips on how to find one? And if you want to share some experiences from the past, we newbies really appriciate it. Thanks a lot. Mike
No, mentor for me. I am a self-taught trader. Made a lot of mistakes but, worked on eliminating as many mistakes as possible. Have no idea how you will find a mentor. It probably, will cost you thousands if not, tens of thousands if you find someone to mentor you. Lots of free videos on trading on You Tube and information on the internet. Much of what a mentor will teach you is already out there if you are willing to work to educate yourself.
%% Pretty much; I used IBD newspaper/jack schwager top traders books20 years+/. I seldom daytrade, except today......I seldom see a daytrade I want except today.I was hoping for a 11% profit on my inverse etf/but since it looked like the market may not hit that?? Noticed my longs doing better a bit so exit on inverse. And if I had to pay any commissions/I may or may not have even tried that...……..
No. The so called mentors that are available are generally not worth the paper their names are written on.
They can only teach you what works for them, not what works for you. You have to trade your own style. Figure out how you trade best. Takes time, practice & honesty.
%% Investors Business Daily newspaper/Technical Analysis of Stocks + Co magazine...………………………………………………… But while Ken Calhoun's weighted moving average is fine/good idea for that stock he was daytrading; problem is/ I don't daytrade single stocks.Good magazine paper article of his.
Stare at price moving every day all day for 3 months. Humans were designed to see patterns. You will get it. Buy low, sell high. Sell high, cover low. Everything else is just fluff.
Be careful out there, and always do your due diligence on anyone who charges to be a "Mentor". I exposed a major conman here. Someone who claimed to be managing, and trading 100's of billions of dollars. He was able to completely FOOL the CME, and Interactive Brokers!!! https://www.elitetrader.com/et/threads/tim-morge-and-the-well-chosen-example.305061/page-23 About a year later, he dismissed his "partner", later relabeled an "employee", of 20+ years, Shane Blankenship (a recent bankrupt), to pocket his fees. I then knew Timothy Morge was broke. He is now trying every trick in the book to stay alive: https://marketgeometry.com/blog/tim-draws And the Pandemic was the final nail on this fraudster's coffin. No one is going to pay $500+ a month, for a confirmed liar. There is NO Queen Elizabeth, NO Fighter Jet flights from Arizona to London, NO MI6 protecting him, NO 100+ Billion dollar sovereign wealth hedge fund. It's all LIES
no mentoring for me. But I spent a lot on trading coaches. Unfortunately I had to spend many years to decontaminate my mind due to those wrong teachings. most trading coaches are unsuccessful hopeless useless traders. I spent lots of resources to develop my own holy grail. It cost me arms and legs.