I have plenty of #1. Working on #2. Sometimes I am too patient when I shouldn't. Struggling with #3....
I see a lot of your posts. You're way smarter than that! For real. I just wonder, maybe, about his source of trainees. Wonder what pool he may be drawing from.
Is this statement in hindsight (after the fact) because if you knew this "before" or during the early stages of mentoring... Were you honest enough and then told them that you couldn't continue mentoring them because they didn't have what it takes to become a profitable trader. By the way, I don't think it's possible to properly mentor someone online unless it's done as follow-up to in person mentoring in the student's trading environment because a mentor can then ensure the student is properly setup for trading. In contrast, you don't know what's going on in a student's trading environment or personal life via online. My point is that mentoring someone in person increases the odds of success in comparison to online mentoring based on the fact the mentor has a chance to see what a trader is really doing because we all know there's more to successful trading than trade signals. Analogy, a lot better chance to teach someone how to play a sport (the techniques) via in person coaching in comparison to teaching the techniques via online. However, as stated, online mentoring is useful as follow-up to in person mentoring. This is a red flag to me, any trader that's in a mentor/student relationship and the student can't or refuse to maintain an in-depth trade journal... That's a student on the road to failure. Mark
Ha ha, you didn't know me back in the days of the -$6000, -$10,000 and -$18,000 losses from holding positions against the prevailing trend until I was absolutely, positively certain beyond a shadow of a doubt that "maybe this trade isn't such a good idea". Back in the days when, while in such a trade, each pullback in the trend was a "ahhh, now price is finally going back where it belongs" moment, and the whole time my mentor is patiently explaining to me again and again and again month after month how to identify a trend, enter the trend, hold through normal retraces and milk that trend. I milked the trend all right...in the wrong direction! :eek:
I'm curious as to whether those who charge for mentoring services have better success than those who do it at no charge. In college, there were kids whose parents paid their full tuition and they flunked out the first semester, and others who were working to pay their way were top students.
Hardly. The op's looking for a new line of work as a mentor. He's given up or near to giving up on trading for himself. The op is a well thought out advertisement. It even has "no recourse" covered quite clearly. Hence my post.