**Almost in Tears** Need Mentor for Futures Market.
- Thread starter Bullz n Bearz
- Start date
- Status
BnB,
It is simply a combo of mature realistic thinking that creates a profitable strategy and then the discipline to follow through on the correct implementation of this strategy.
You have most likely got your head ahead of your feet in which case you are off balance and you have neither a well reasoned strategy nor discipline.
In a nutshell, you need to go back to square one and start again.
This time, it is different because you now know that the ES has sharp claws.
Welcome to the club and get off your own back and start working and learning.
I make no apologies for my comments, because you need to shake yourself out of the hole and attitude is everything.
Good luck.
It is simply a combo of mature realistic thinking that creates a profitable strategy and then the discipline to follow through on the correct implementation of this strategy.
You have most likely got your head ahead of your feet in which case you are off balance and you have neither a well reasoned strategy nor discipline.
In a nutshell, you need to go back to square one and start again.
This time, it is different because you now know that the ES has sharp claws.
Welcome to the club and get off your own back and start working and learning.
I make no apologies for my comments, because you need to shake yourself out of the hole and attitude is everything.
Good luck.
so 10 k for me I would welcomeAt this point, it would probably be prudent to take a moment and make a distinction between mentor and vendor.
BnB,
You've gotten a lot of good advice in the prior posts. Take some time away from trading, build up your account and study - books, charts, etc....
As soon as I saw "this whole trading thing.. ", I knew just how new you were. There isn't any one thing, there are hundred or thousands of lessons to learn from the market. Some you can learn from books, some from reading ET, some from studying price action, some from paper trading, some from trading real $$$, some from trading real $$$ w/ size, some from losing $$$ & some from looking inside yourself and really seeing what you're made of and how much you want it.
In your current mindset, you're not in a position to learn or absorb anything - from a mentor or anyone else. A good trader is always observing, learning, listening to what the market is telling him/her and adjusting their trading accordingly....
R
Allow me to quite succinctly point out your problem.
Steve said,
You decided he said something else,
Did Steve advise you to papertrade? No! he did not.
If a trader cannot follow the most basic set of instructions, how can that same person ever expect to find their way to profitability.
You've been given the same advice before. Each time, you've ignored it. Shocking you haven't yet found success.
- Spydertrader
Steve said,
You decided he said something else,
Did Steve advise you to papertrade? No! he did not.
If a trader cannot follow the most basic set of instructions, how can that same person ever expect to find their way to profitability.
You've been given the same advice before. Each time, you've ignored it. Shocking you haven't yet found success.
- Spydertrader
BnB,
Forget mentors/indicator-based strategies/etc for a minute.
Your biggest problem (or roadblock) is your inability to contain and control your emotions. "Almost in tears"??? Also last time, you started a thread saying trading is one big scam just because you lost some money and got frustrated apparently.
I think you need to get away from trading for a while and just focus on handling your emotions better.
If you can control your emotions better and also exercise sound risk management, you can make $$$ even without any real strategies. That's no joke.
If you cannot control your emotions, even with a sound trading strategy, you WILL continue to lose money. Why? Because you will lack the discipline to consistently execute your system.
Start some meditation. Do daily breathing exercises, yoga, etc.
Seriously man. Trading is not that hard once you learn to keep your emotions under control. Unfortunately, that's the hard part for most people....
Forget mentors/indicator-based strategies/etc for a minute.
Your biggest problem (or roadblock) is your inability to contain and control your emotions. "Almost in tears"??? Also last time, you started a thread saying trading is one big scam just because you lost some money and got frustrated apparently.
I think you need to get away from trading for a while and just focus on handling your emotions better.
If you can control your emotions better and also exercise sound risk management, you can make $$$ even without any real strategies. That's no joke.
If you cannot control your emotions, even with a sound trading strategy, you WILL continue to lose money. Why? Because you will lack the discipline to consistently execute your system.
Start some meditation. Do daily breathing exercises, yoga, etc.
Seriously man. Trading is not that hard once you learn to keep your emotions under control. Unfortunately, that's the hard part for most people....
Quote from hajimow:
I am OK with trading stocks and very successful with option trading. A couple of months ago, I started to trade emini. I did two sucessful trade with a little bit profit. Then in that big market correction 2 months ago, I saw that SP future is down 35 points so I bought one contract at 1427. In just 10 minutes it went down more tp 1418 and I bought another contract. In half an hour it went down to 1400 and I was liquidated because my account was loaded with stock and option positions.
This is like the Caddy Shack scene with CC and "be the ball."
See the drop caused by accounts being margin called, and become one....
Please no offence, it just strikes me as funny.
Quote from Steve Tvardek:
You dont need a mentor right now, you need to STOP trading and spend a good 3 months just watching the mkt and learning how it moves. Study the charts intraday and after the close. Jot down all sorts of ideas. Look for patterns and try and discover correlations. Get to the point where you start to understand a little more whats going on. Dont rush back into trading, take the time to properly learn. You dont become a brain surgeon, a good defense attorney, or any other high earning job overnight.
The reason you want a mentor is because you think that he/she will give you the answers you need right away. If you didnt, you wouldnt offer $50/hr because you'd needs far too many hours than you can probably afford.
Do the work on your own first, you'll build confidence. Thats what you need right now.
diddo
Now it's up to you how badly do you really want to make it as a trader?
Follow Steve's advise ... and dont say you weren't told.
- Status