I guess there are thousands since there are 97,000 members? I will call those of you that sent me an e-mail with your telephone number on a timely basis after the close. I will start in chronological order with the first e-mail getting first priority. Looking forward to speaking with you soon. Jay
I guess free mentoring is the latest "in" thing these days at ET. Problem is if your not going to pay a visit to the mentor and watch him practice his skills, you'll never know what's behind the screen or telephone. For those of you who seek short term riches and think trading is an easy way to make money, you will be in for a rude awakening regardless of the mentor's skillsets. And don't believe all those altruistic mentors are real. Despite being free, ask the mentor for a year or two of monthly trading statements. If he gives you a lot of reasons why you don't really need that, walk away. Moreover, anyone worth his salt in this business should be making at least low six figures. Priority number one: be sure your mentor is willing to spend the time to help you draft a business plan. If he won't do that, give him up. Without a well-thoughtout business plan who will never get out of the blocks.
nice post Allen you brought up some very valid points, but i don't think I ever stated that I had the road to riches. I will tell you and everyone else out there in the world one more time and I hope that it sinks in to the core of your being. THERE IS NO HOLY GRAIL OR INDICATOR OR PERSON WHO CAN MAKE YOU A MILLIONAIRE OVER NIGHT OR OVER POTENTIALLY YEARS AND YEARS OF TIME. The best coach in the world could teach me to play golf, but I might not be nearly as good as tiger woods. My point is that I am offering this to help steer people in the right direction.. at least what i have known to be the right direction.. i think the last thing anyone wants is to become dependent on (me) or any other coach in order to trade successfully!! THE WHOLEL IDEA OF BEING A SUCCESSFUL TRADER IS THE INDEPENDENCE THAT IT AFFORDS. Allen, feel free to send me an e-mail if you would like to discuss anything Oh yeah.. why don't you post YOUR BUSINESS PLAN on this forum so we can all have something to go by since it seems to be working so well for you. Trust me putting your business plan in the public view would not reveal your holy grail.. it could only help you since it would be scrutinized by hundreds almost like a free executive board. Have a fantastic day and keep the good ideas flowing Jay
I'd be happy to post an outline of what I think a business plan should contain, but my plan is for my eyes only, just like my trading log. I'm sure you understand. I admire your altruistic offer to help others. My thing is contributing time and money to charity. Maybe in the next five to ten years, mentoring will have some appeal to me, who knows?
Cold, Not to burst your bubble, but that is an average of 5k per day. LOL. Why that is a good job but I wouldn't consider it great. Although today was a below average day, I only made about 17k. My average days are anywhere from 40 to 60k. To be honest, that is on the low end.
jay I like your idea and hopefully you can help some people out of the hole. A mentor is really important I believe. A bad mentor is very fast recognized. I never believed in limitations and still dont because there simply is none. Not to the up- and not to the downside. Everyone can make it in trading, everyone. Planning, discipline and adjusting things along ones comfort level is all what it takes. I have traded many markets and can clearly state that the best of all with nothing following for a long distance is trading long options on stocks and indices. The worst risk is always 100% visible on the table and when you have the full risk as a constant value - just from this only point - you can start to build up everything you need or want to explore around you. When you are able to plan risk you have no need or excuse on anything but yourself to accuse or thank for your results. No risk, no more fear though still greed sometimes, hehehe.
Patience. For instance from 5850 and it is a holding game. I caught then end sell of that made me 6 points, plus I was up 2.5 points. You just have to hold.