Are you assuming the above is true? There is no "handout" in trading. Understanding and discipline cannot be taught. Either you have it or you don't. Maybe can get slightly improved. But not to the level required for trading success. Ron
yes you are right tummy boy, except you neglected to mention that in order for a person to understand what you just wrote that person has to first go through science and art of it, in order to understand that its neither
Senario 1 : your "strategy" using maximum leverage and before commisions averages net $20 / trade / month , 100% of the time. Is it more profitable to trade said system, or to sell said system for $5000.00 a pop? Senario 2: The more people who use your system, the more its logic is reinforced and the more powerful the system becomes. Always buy at the calculated pivot X and sell at the calculated pivot Y when indicator 0 > x > 0 senario 3 : well you get the point
I will repeat what i just said on another thread. Even if you have a mentor that will reveal you a "Holy Grail" strategy, you would still not make money with it because it needs to be "yours". It needs to be adapted to your style. YOU need to understand all it's concepts and technical, money management and pshychological details, and i am afraid THAT is something 90% of people are not able to grasp. The best way is to have a mentor that you do not doubt, but look futher into his study after knowing he is a good fellow, not a scam. Read more, try to beat his knowledge. Try to go further. Work your ass off for about 2 years trying to take what is his and make it yours and if you get better, congratulations, but if after two years you don't make it in being better than him, at least now you fully understand his technique. Hey, you tried to beat it! You now fully understand that there are more important things than money, than the strategy, and that is keeping mentally sane and that's where your trading will take off. Hell, you could be doing marvelous things with just a moving average and macd histogram trading momentum on 3 sepparate time-frames.... Why would you think a mentor is bad? You need to let go of paranoia. All of you. I am not a mentor and i would not be as i am too much of a scrooge, but, nevertheless i think having a mentor helped me to become better than i was in the beginning. There are literally hundreds of books out there and how would you know which ones to pick? And this is just one example.... Yes, don't take something for granted from him, because nobody is going to give anything just like that so you can live happy ever after. You need to get on your tail and work, but his guidance might prove helpful. REMEMBER: A mentor is not necessarily somebody you get in contact with. I consider my mentor Dr. Alexander Elder (i know many of you dislike him), BUT, it took me 2 years just to figure out the complexity of just one book -CIMTR-, and i am not retarded. In the meantime i read 20 other books written by Bollinger, Link, Appel, Van Tharp, Kiev, McMillan, etc and i always reverted back to the essence of Dr Elder and tried to prove i can do a better strategy than him .... And also in the meantime lost a few loaded accounts (mini) just to figure out how money management and psychology worked. I am now happy (i won't say more than this) ! Conclusion: Some people are here to help, some are here to take your money. Instead of being afraid of all of them, put your brain to the test and let it filter out the good from the bad. It might help!
How much are you willing to pay for a profitable strategy? 300 bucks a month for a chat room with a mentor, 100 bucks for a newsletter, 5000 bucks for a system which can make 100k a day. There are thousands of trading mentors revealing profitable strategies day and night. Are they nuts?
I have to agree with the premise of the thread originator. *IF* you are making great returns without great risk, then I highly suggest you guard your secrets very carefully. When you work 5-10 years to get profitable, and then you really hit your stride, you don't want to take any risks. You are all my competitors. With that in mind alot of people have helped me, but I had to pay for it one way or the other. So in turn I'm willing to give back when appropriately compensated (this is not necessarily in financial terms). I'm not interested in giving you any specific advantages beyond enticing you to stay in the market unless you are trading me something that I perceive is of equal or greater value. It's really that simple. Maybe one day, when I really don't care anymore or I'm getting out of the game, I would consider taking on an apprentice or two, but there is a reason that the people who make the most money in this game are the most secretive.
You have been haunting the chocoman for over 2 years now. Have you got it? Will you ever get it? I doubted. This just prove to the whole world, even if it is free, it won't make a difference.
It's funny there's a mentorship program being implemented in my firm as we speak. ...Just the other day the head trader (founder of the firm) was reflecting on what had motivated him to begin teaching his method in the beginning. He was thinking about what it would be like if he just continued trading, amassing wealth until the point his life had ended and it was just his family attending his funeral. It sounds ridiculous (a lot of people laughed at first) but think about it for a second, at this point many of us are too immature to look beyond the hollowness materialism that engulfs our lives - to think we actually made a difference somehow, or were a part of something....it was shortly afterwards a good friend of mine (a mentor in this program) shared the satisfaction he achieves from his students progress, watching them learn and grow, step by step. It was then that he paraphrased a comment the head trader made to him a number of years back, 'this business can be incredibly selfish or extremely rewarding, you'll figure it out for yourself.' Now don't get me wrong, there are benefits for the mentor, justifiable so because this program is a longterm demanding schedule. And even though the mentor is teaching the same principles and showing the same techniques the success ultimately depends on the trader (protege). I'm sure someone could reference this for me but i'm sure the turtles all had different results than eachother. Anyways, I hope this helps a bit, there's more i'd like to say but this post is pretty damn long as it is, lol.