never heard about them but every time i made the statement like that , there are people who said that there are good mentors out there, and that they themselves were mentored successfully or took a lot from the mentor well search the forum , maybe someone shared the names, links, etc of those mentors my deep conviction is that this a self-made journey/discovery
Ok Guys. I understand the point now. The best mentor is my self. I will start working on my down sides and try to improve. This can take time. I will also try to post my busted trades here on the forum so others can help of why it went to be a failure. 2 questions if you don't mind: 1- is there any other books you recommend me to have a look on besides what I read? I dont have much info about fundamentals. would this count in day trading ? I also have a problem in using Candle sticks. I know the candlestick pattern but all the time the trend continues ignoring hammers, ...etc. 2- Any review comments about tradenet ?
read this forum , search it through and through thousand of people before you came here with the same questions (before they ended thier journey for good), there are plenty of discussions addressing issues that u even not aware of it will take you probably couple of month then you will get some orientation in the space where there is no up or downs or lefts or rights
Candlestick patterns are only useful if you use them correctly. There are single candlestick patterns, 2 candlestick patterns, 3 candlestick patterns. Suggest you go to You Tube and immerse yourself watching videos on reading candlestick patterns.
You might want to consider hypnosis to help on being more disciplined, I go 1-4 times a year for this and other areas am trying to change, but it was another piece of the puzzle years ago I needed to alter. As far as a mentor, those who can daytrade/scalp can make 10k in a day either automation or manual, teaching you would be more competition of getting filled. By far, learning how not to lose more money than you make is mainly what most of the 95% plus have in common, and almost all have the same fears as you. Instead of thinking of money, think in terms of percentages, the 2% rule of never risking more than this will keep you from wrecking your account, traders lose track of what they trying to do by concentrating too much on money, all think mental thoughts of losing is teaching the brain to lose. What most forget is high cost of fees, you be surprised on a 5k account, depending on how many trades to do, might have to make 100-150% just to pay fees. If you don't have a college degree, get one, keep the day job and learn long term, Buffet is doing nicely and he doesn't day trade.
picture a guy in a jeep he is stopped at a river crossing that looks treacherous. as he tries to decide to cross or not. up stream a few hundred yards he spies a group of fellow jeepers approaching the river at a fast pace they never slow and breeze across the river with no problem. you are the jeep guy what are you thinking right now? yea you need a mentor, everyone needs a mentor.
I don't know why people get aggressive or surprised when I ask for a mentor. I am sure if someone needs to learn Martial art or swimming he would need a coach. Just reading from books will give an overview about the concepts but will not give a detailed or fine tuning for the technique. Learning a new language can happen also from books but you would need a teacher to fine tune your pronunciation and conversation skills. I see trading is the same. you need someone to fine tune your technique instead of reverse engineering the wheel !
no its not in almost all occupations and enterprises people earn by selling their skills or product of thereof, and mentoring is one of the form of earning by selling one's skills in trading the know-how translates to pure money making, only here one does not need to sell one's skills in order to prosper that 's is the reason why most (if not all) mentors here are a form of scam - they could not make money on their own trading sckills , and attempt to sell what ever they know (which is admittedly not enough for success) to unsuspecting fools whose rationale is exactly as u explained above and that's why people get irritated when some one ask for mentor's suggestions without understanding what i just explained here (excusable to u since you are a novice)