Shoot me a private message where you are at with trading so far. Maybe I can help you connect the dots.
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Anyone one on one mentoring?
- Thread starter danielc1
- Start date
Shoot me a private message where you are at with trading so far. Maybe I can help you connect the dots.
Okay, here is my followup response:
1) This biggest part about traders having to spend so much time in the research/trial and error phase before they come up with a working system, if they ever do, is the time lost chasing after false leads, and having to retrace ones steps and proceed in a new direction. This part is essentially the "hamster wheel" of R&D/Trial and error until one gets a good footing, which can easily take years to get past.
The purpose of mentoring is to enable the student to skip all the time spent going down fruitless paths and concentrate their focus on understanding the mechanics and nuances of the right path.
As such, having a good mentor should result in far less time in coming up to speed and as a result far less pain.
I don't understand what you mean by your statement that each system is personal. A mentor should be able to tell their student exactly what they do, and from there the student can either seek to replicate ortailor it to their own risk preferences. A good working system can be passed on to another person doing the same type of trading- it doesn't have to be different.
3) Just to be clear, you make enough money for you and your family to live on solely by trading? You mentioned you also had other businesses, but I wanted to be sure you meant you make a living from trading rather than just making "some money" which way not be enough to provide for the needs of the household.
I'm also unclear on why you don't know what your performance is. Making a living via trading gives you your daily P/L counts. Your yearly tax forms has you submitting your P/L for the year which should spell out how you're doing pretty clearly. How do you not know your stats?
5) I agree that just presenting your methodology doesn't mean people would understand it well enough to execute it properly, but it shouldn't be an issue in showing the general summary of your method without having to dig into the weeds.
It's the same concept as showing a broad general presentation of your style (50Kft view) , a closer look view (100ft view), and the mentoring would come in dealing with the all the trees in the forest detailed view.
If you're not mentoring on a specific methodology/plan, the it sounds more like a "coaching" position rather than mentoring.
The psychology of trading. Biggest fence to jump. Few understand this. All else is secondary.
Most people never listen well first. They think they “get it” and just jump off into the water. They never practice.I have had a similar experience with a friend of mine. He saw me doing it, went home, opened an account, bought 1000 shares of a tech company and he made a fortune by luck. Never listened, did not understand why it should be so difficult because he had succes from day 1 and on the first trade he ever made. A year went by, lost all the money, pension savings, his house, his job, and got a divorce in the end. The first lucky trade hooked him for life of gambeling. That is one of the reasons I do not give someone a gun. A gun in trading is explaining an edge without knowing the person is ready for it. I do not care what anybody else says about it. I do not share anything with anybody, if I do not feel comfortable knowing that they can handle it. I feel responsable to what my friend had experienced because I thought he would listen first befor he took action.
Didn’t a poster vlpro kinda of do that with trading live and still few believed him?There is a lot of trolls on ET who call other traders fake but, have not shown one bit of trading competency. Actually, it is the ET trolls who are the biggest fakes like a $3 bill! If you have the guts to call anyone fake, you should show your own trading records and show us how good you really are!
Uh not vlpro but volpri.
Who? What are you asking?Where does he trade live?
Didn’t a poster vlpro kinda of do that with trading live and still few believed him?
He was not among the ET trolls calling others fake but, have not even shown trading competency. Just full of BS rants and bashing other traders! Hard to take those clowns seriously!
T
T-Mex
Instead of "mentoring", why not take some of the money that you earn from trading and do something (you deem) worthwhile in/for your community? Help directly a down on their luck family. It's school season, children need supplies and books. Get some potholes fixed. Help renovate a park. The list goes on. You said you are in Belgium... I understand there are differences versus here the USA, but your local area is not without problems or plights.
Does your post represent the mentality here - disregard the unique combination of a man's hard earned experience and his self knowledge of where he may be able to make a positive impact, in favour of cookie cutter suggestions that don't need any more input than money.
Some people have more to give than money and some are so poor that all they have is money. And this is why if you find yourself with more money than those around you, you must keep quiet else suffer to be bombarded with helpful "suggestions" on how you should be spending both your money and time - which are less insulting than the implication that others know best what you should value.
I've been a semi-recluse since I made my first money (in futures ironically) for these reasons.
Volpri?Didn’t a poster vlpro kinda of do that with trading live and still few believed him?