Can anyone be my trading mentor? (short term trading)
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Young people should spend more energy to combine modern computer technology with trading, such as artificial intelligence, image recognition analysis, etc. I have 20 years of trading experience, and then learn programming.
NO WAY
What he (and others who are looking for mentors) don’t seem to realise, is that they’d be just a burden on the mentor.
Also, I suspect that most (but not all) people looking for mentors seem somewhat desperate, and desperation is NOT the same as a commitment to the process. As if they’re looking for ‘hand holding’ and to shift the responsibility of their failure/success onto the mentor. However, I could be wrong.
A friend of mine was asking me for a while to teach her. (That’s one of the reasons why I’m interested in some of these threads). After few months I finally caved in, and it’s actually going OK. I guess it’s because we approach many things in the opposite sequence of what the beginning traders here are doing. Also, some of her strengths are my weakness, so it will help me improve my own trading. She’s into journaling and I absolutely hate it and I stopped doing it. But when I journal, my trading is definitely more efficient. She promised me that she’ll help me with accountability, journaling, routines, etc, so it’s a win-win situation, and I can already see some improvements in my own trading (being more prepared, focused, etc).
Having said, it will be most likely the 1rts and the last person I’ll teach, it’s just a pain in the ass and a burden.
Yes, been there done that myself when I was a 20 something.
In that case you don't need a mentor.
No because I don't think he read or listened to the advices you folks gave and really doesn't want one:
Would you mentor him?
NO WAY
What he (and others who are looking for mentors) don’t seem to realise, is that they’d be just a burden on the mentor.
Also, I suspect that most (but not all) people looking for mentors seem somewhat desperate, and desperation is NOT the same as a commitment to the process. As if they’re looking for ‘hand holding’ and to shift the responsibility of their failure/success onto the mentor. However, I could be wrong.
A friend of mine was asking me for a while to teach her. (That’s one of the reasons why I’m interested in some of these threads). After few months I finally caved in, and it’s actually going OK. I guess it’s because we approach many things in the opposite sequence of what the beginning traders here are doing. Also, some of her strengths are my weakness, so it will help me improve my own trading. She’s into journaling and I absolutely hate it and I stopped doing it. But when I journal, my trading is definitely more efficient. She promised me that she’ll help me with accountability, journaling, routines, etc, so it’s a win-win situation, and I can already see some improvements in my own trading (being more prepared, focused, etc).
Having said, it will be most likely the 1rts and the last person I’ll teach, it’s just a pain in the ass and a burden.
Lot's of truth to this. It's a high risk / high reward endeavor. To be trusted in the position to influence the trajectory of another's life is intimate and requires emotional investment. If the mentee pivots away, the mentor's time and energy have been dissipated. Many mentee's fall short of the supplication that is required to be truly mentored. Many mentor's fall short of being worthy of the trust placed in their guidance.
I wish I had your awareness when I was 18.
As you have stated, all the comments are sourced from the lens of their own experiences. What you have as a resource is Time and the ability to compound it. Some in your position have used time to collect a variety of experiences. Words don't teach nearly as effectively as life experience does.
Imho, develop your discernment, learn how to learn, realize you have blind spots. Enjoy the journey, most likely it will have many unanticipated twists and turns.
Many are attracted to the financial domain being motivated by money, many by the lure of 'easy money.' Many attracted to day trading are really just gamblers seeking emotional payouts of boom & bust, thrill and despair cycles.
The markets can be a mirror and reveal aspects of oneself that can lead to growth if one has a growth mindset.
May you manifest your dreams.
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I would have never gone into intraday trading. Yes, I have gotten good at it, BUT, 65% of net worth has been through long term commodity trading/hedging. Much less daily trades, much less commissions. Day trading/scalping, people don't realize your first 100% goes towards commissions, internet & backups, more than one computer, upgrades etc.
Read somewhere 60,000 new day traders each year, 99% fail/breakeven.
I stopped using macd, and other indicators several years ago, you stare long enough, you just don't need them.
Always think in fallback, if trading don't work out, you rely on a degree or rental income or laundromat incomes. Trading is a business.
Good luck
lolwut?
Your first 100% return goes towards internets? Backups of what? HARDWARE costs? Are you f*cking mental?
Disregard.
How is @Xela doing now? Has she recovered from the melanoma, lymphoma and glioma?
In undergrad I worked summers on the floor as a runner (later as a clerk) in ags. My last gig was a Shatkin Arbor before I got a real gig in finance. I discovered the conversion market on my own before I clerked at a vol-pit/post. I was trading edge in conversions with phone orders before I turned 21.
I am not knocking the OP's interest in the field but trading is a game of experience more than intellect. There are a lot of smart people out there who tried and failed. Worse, there are thousands who left/retired from the sell side and couldn't make a dime as an independent.
100% he blows out his first account. Blowing out and applying the same BS TA defines cognitive dissonance. There is nothing to be learned from blowing out. Motivation w/o an edge just prolongs the inevitable as you'll throw good money after bad.
I am not knocking the OP's interest in the field but trading is a game of experience more than intellect. There are a lot of smart people out there who tried and failed. Worse, there are thousands who left/retired from the sell side and couldn't make a dime as an independent.
100% he blows out his first account. Blowing out and applying the same BS TA defines cognitive dissonance. There is nothing to be learned from blowing out. Motivation w/o an edge just prolongs the inevitable as you'll throw good money after bad.