Mentorship (4th year still not profitable)

Discussion in 'Hook Up' started by iamnewuser911, Nov 13, 2017.

  1. 777


    Traders of the New Era

    #51     Nov 14, 2017
  2. speedo


    How to Fade ET's Top Stock Picker and Retire Early
    #52     Nov 14, 2017

  3. Reviews on amazon look good.
    #53     Nov 14, 2017
  4. 777


    Just get the book
    #54     Nov 14, 2017
  5. tommo


    OP you need to join a prop firm. I have been trading professionally for about 10 years and about 3 years before that trying to learn at home.
    You need low commission structure and to sit around profitable traders and learn from them.. although traditional prop firms are few and far between now, a lot of them struggle now.

    I'm not saying this is the rule that is never broken, but I have honestly never met a trader that was successful just teaching themselves at home. By successful I don't mean they can make a few hundred dollars a month profit. I mean live off it.

    Ive probably worked with over 100 traders in my time and very very few people are drawing lines on charts/moving averages, risking 10 ticks to make 30 etc. As with everything in life if you do what everyone else is doing you will not get results. If trading was as easy as risk 5 ticks to make 15 and buy support levels we would all be millionaires. I made the exact same mistakes as you, I read books non stop and followed all the rules and got nowhere. You need to think differently to everyone else.
    #55     Nov 14, 2017
    FP22, MACD, JamesEM and 3 others like this.
  6. ironchef


    I agree with everything you said but take exception to this. You see, OP was not looking for a mentor but a master so OP could be the "apprentice". OP wanted to travel to and colocated with him/her to learn to trade his/her way.

    I have many mentors here on ET. They provided me with their wisdoms, not their "trade". I don't need to be physically with them, watching how they trade to be successful. Some of my mentors on ET: drcha, for pointing out to me I need to trade using longer time frame; Handle123 telling me to "dance around" my holdings, Maverick74 for pointing out the importance of gamma in a short trade, sle, JackRab.... for explaining to me the subtleties of options and volatility. I am particularly grateful to MrScalper for encouraging me to read charts. None of them gave me their trade secrets or their recipes, only their wisdoms. And you know what? Many probably did not even know they were mentoring me.

    Are they successful traders? I don't know and don't care because what I looked for are their collective wisdoms and not their trading skills.

    Trading is very personal, what works for you usually won't work for me because of personality, psychology and different circumstances.

    Finally, a method that becomes too popular will no longer work because to be profitable you take money away from other traders. Remember the January effect? It was so popular folks wrote books and academic papers on it, now it does not work very well.

    I learn something from your posts too and appreciate it very much.

    #56     Nov 14, 2017
    userque, JamesEM, timdug and 2 others like this.
  7. qxr1011


    so, any would be mentors contacted you by now or were you given some solid recommendations for the mentors who mentored so many ET's mentor's advocates in the past?
    #57     Nov 14, 2017
  8. 777


    Excellent reply!

    Perhaps you will private message the poster with the name and location of a prop firm you recommend.

    Some firms offer poor training and horrible deals for new guys

    Some firms have offices where the trader will be hustled for lessons by losing office managers. But the same firm may have a different office location where a new trader really has good traders sincerely trying to help him.

    Hopefully the poster will contact you privately if you do not reach out to him.

    (I am adding you to my people to follow list because you obviously know what you are talking about and you explain yourself well)
    Last edited: Nov 14, 2017
    #58     Nov 14, 2017
    timdug and tommo like this.
  9. algofy


    Curious if they aren't doing this, what are they doing?
    #59     Nov 14, 2017
    tortoise likes this.
  10. FX xtc 2

    FX xtc 2

    Beautiful ..
    #60     Nov 14, 2017