Great post, thank you. Here's another warning-- i know guys who hire interns just to get free labor or worse-- dates with zero potential of upside. surf
Eh?? So I'm going to put up the capital, and I'm going to do the trading for him and them show him what I have spent years learning, for nothing??! What planet are you on mate?!
I think if you are going to pay for a mentor it should be in-person mentoring and they should be trading live with you every day plus explaining all that goes into decision making process. They should also be vetted in some way so you know they are the real thing. It seems too risky to try this online. You can never really be sure who you are dealing with. The other aspect is that in real life mentoring it would be harder for someone to hide details from you. Over the internet it is very easy to do such. There was a thread recently about PTJ trading rules and someone made an astute observation that stuff like that is all marketing and that PTJ is not going to disclose all the aspects of his research and methods. For example take the following Marty Schwartz quote that is batted around the internet: A 10ma is his red light green light signal, huh? Man I wish it was that easy! I also remember reading here about Mark Fisher saying that if you try to trade his method as presented in his book you will get killed. Note he doesn't say so in his book, or in his seminars, or in interviews. He said it in a private conversation with someone. So again, things are not always what they seem. You may think that a proven successful trader is showing you all when in fact they are holding a lot back.
Most of these authors and supposed succesful traders are not telling the truth. They tell you what you want to hear because they have some irrational desire to be liked ( if wealthy) or make money ( if struggling). No one wants to hear i have a friend inside goldman , i got lucky, or whatever it is that you cant replicate. So they say ridiculous platitudes. If you learn one thing from me let that be thst the full truth DOES NOT SELL in the markets and 99% of everything is designed to sell or make friends/fans that is in the public domain of the financial markets. You get crucified for speaking truth in this game. Disgusting!
Im just jerking your chain. But think about it-- prop firms put up capital as do hedge funds and all institutions for traders to who they trained to trade--- why not take this same idea if u are truly succesful and have a team trading your method?