I don't know if this means anything, but a quick search of your handle reveals recently over 80% of your posts are in chat... No disrespect intended, just an observation. Michael B.
well if they had a political thread that 80% would be there. but as far as this thread goes i am just trying to give good advice to someone that appears to be new. nitro made some statements that i knew to be wrong as did others. when he started asking me all sorts of personal questions, it pissed me off but i ignored him. when i saw him baiting a newbie i felt compelled to say something.
I do not wish to offend anyone here but, for the life of me, I cannot understand why genuinely profitable traders would engage in either "mentoring for dollars" or endeavoring to "prove" their profitability for seemingly no tangible reason. The former suggests that the trading alone is not quite cutting it. This, then, raises the question of the value of what such people have to sell, notwithstanding the ubiquitous spin of "dealing with people," "helping others," "giving something back (but for a buck)," etc., ad infinitum. The latter suggests a fairly deep-seated need for acceptance and recognition from virtual strangers. The picture that comes to mind is that of the guy who always carries a wad of cash around to flash in front of others in order to let them know that he has "arrived." The word crass comes to mind. In any event, you would think that genuine success would have defused that insecurity. In the off chance that a trader/"mentor" is truly and impressively profitable, I doubt that he will be imparting all of the critical "herbs and spices" to his trainees. Ask yourself, "If I spent countless and difficult years developing a highly profitable trading method, would I be willing to part with its exclusivity for a mere few thousand dollars per person? Would I hand it over in its entirety?" Because once the method is disseminated to either one person or a thousand other people, the method is no longer exclusively your own. Take a moment to consider the implications. No, I don't think that traders who have developed seriously profitable trading methods would part with them in their entirety for cheap, if at all. On the other hand, if all you have to show for your "research" efforts is yet another tired combination of standard indicators (essentially that which is already public domain), then you would no doubt jump at the chance to "give it away" at a discount. Interestingly, there is no lack of such "service providers."
Don't know if this mentor is a scalper. But, I received a PM from a supposed "mentor" and maybe you should check him out.
Also be cautioned that anyone that can trade and make money would never mentor someone for a charge or a % cut. The ones that can trade and is worth your time would mentor only for the satisfaction of seeing their disciple succeed.
exactly. technically these mentors you talk about are consistently profitable traders, however that might mean no more than $30K a year. so they discover guruing - where they make $30K a month, charging $300 a month from each chat room member. and the money is guaranteed. a memeber leaves, a new one comes by. but they do have to maintain good PR - for example, respond to each and every single criticism they receive on this board.
i agree with that point. you should try to pick a scalping mentor who makes at least $100K per year. you should ask for a tax return or some sort of proof of their profits. you can make alot more money off managing a group of traders than trading alone. however, to start a group you need some money to back these noobs so it isn't as easy as it sounds. but if you have the money, it aint that bad.