Trading with/without a mentor?

Discussion in 'Educational Resources' started by Utah, Jul 7, 2019.

  1. maxinger

    maxinger

    I guess you are looking for mentors who are successful traders.

    Successful traders go through great sacrifices, great pain, enormous losses just to be successful in trading.
    And when we are successful, we don't need 2nd source of income (by mentoring).

    So if you are looking for such mentors, I'm afraid you can't get it even if you could afford it.

    I attended quite a few trading courses before.
    Some coaches were unsuccessful traders. It took be very long time to
    delete / decontaminate / unlearn what I learnt from them.
     
    #21     Jul 9, 2019
  2. slvrrisc

    slvrrisc

    When I saw "Ray Freeman" I vaguely recalled seeing the name before. Then I just found it here. -> review of iamadatrader.com Stay away! and don't get duped into his "master course" scam or whatever.

    An article on a $10 million scam by Freeman, and it seems it's not the first time.
    (https://www.theaustralian.com.au/bu...m/news-story/11c23a6da8682f16de4baff82059d9e5)

    Handle123 says it best. If they were really trading they wouldn't be selling expensive courses. For myself I found it best to get ideas from reading a bunch of books then making up and trying out a system and forward testing it.
     
    Last edited: Jul 9, 2019
    #22     Jul 9, 2019
    Utah likes this.
  3. Indeed, reading up on the grate traders of our time lets you understand their methods and techniques that have a proven track record. Lifestyle is the main factor that will drive your own successful strategy i.e. Trading needs to be pleasurable and done within a time frame suitable to the individual... if you find yourself frustrated and stressed doing it then you either have the wrong strategy for your lifestyle or trading is not your thing at all.

    Personally, I'm comfortable devoting 4 hours a day to trading, In essance I don't watch the screen to scalp, I trade the fundamentals, my orders are placed before the session and remain un-change unless new factors are introduced.... a technique Medallion uses to some extent and that result in ROI of well over 1k pa.

    Learn from the best and combine their methods:-
    W Buffet: Be greedy when others are fearful, be timid when others are greedy
    Medallion: Have a clear view, let the objective reach whether it takes a moment or seasons
    Edd Thorp: master hedging and scale out of losses
    Victor Niederhoffer: Don't play the other person's game
    Stanley Druckenmiller: Watch the market insiders to predict economic slowdown
    FxTrader (myself): Trade the symmetry, history repeats

    Stanley Druckenmiller is the most interesting of the bunch having beaten all the rest for over 30 years only to fail and retire from trading. Learning his mistakes might keep you from a similar fate.
     
    #23     Jul 9, 2019
  4. I would not ask for fees but would be happy to spend some time with a mentee but in the UK have not found any interested as the account size here needs to be about £100k apart from IB, and options data is utter rubbish. Much better to trade the US- but cannot seem to drag myself into that arena
     
    #24     Jul 13, 2019
  5. Hi everyone. I have spent over 20,000 on mentors and courses - the whole story is here:
    Hope Dies Last

    In the end, I did learn to trade, but by that time I didn't have enough cash to make it worthwhile continuing and the last experience with Ken Medanic and Chris Capre was enough to put me off having anything to do with so-called 'trading educators'. Some of the traders I worked with were very skilled but you don't stand a chance in hell of success if you think you can copy someone else's trading. You can learn their approach and concepts but you have to design and test your own system.
     
    #25     Jul 13, 2019
    ChipShotTrader and Utah like this.
  6. Robert Morse

    Robert Morse Sponsor

    YES! That is the key. Learn what you can, apply it you your own process!
     
    #26     Jul 13, 2019
    ChipShotTrader and Utah like this.
  7. Rbrowny

    Rbrowny

    We all have to find our own style, but on the charting side of things, I've been most inspired by Timothy Morge. No-nonsense guy with 40+ years of success, specialized around a single leading indicator and not much else. Best of all, you can gather what he has to say without spending a dime in the I.B. webinar archives, but he also does sell coaching to those who can afford it.
    ____________________
    Law cannot persuade when it cannot punish.
     
    #27     Jul 15, 2019
    Utah likes this.
  8. cafeole

    cafeole

    Day-Trader-Utah-

    I have no affiliation with these guys, but I think this video is pretty good.

     
    #28     Jul 15, 2019
    Utah likes this.
  9. Dear "Rbrowny",

    Tim Morge is NOT who he claims to be: he does not have a single PhD (he claims to have 3 PhDs in the IB Webinars), and he is not managing money, much less, billions!!! It's all a fabrication. Please do your own due diligence:
    https://www.elitetrader.com/et/threads/tim-morge-and-the-well-chosen-example.305061/page-23
     
    #29     Jul 17, 2019
  10. Dear "Love the Dax",

    Thank you very much for your honest article on Medium, "Hope Dies Last". It was eye opening, and so truthful. Trading is indeed incredibly hard. Unlike other careers (involving a medical school, law school, etc.), it's something you must figure out on your own, and it takes a LOT of time. I often try to dissuade people from entering the field, as it entails so much sacrifice...
     
    #30     Jul 19, 2019