I am sick of these fake mentors

M

marketsurfer

After carefully reading the "price action" mentors on this site, it is quite obvious that there is zero value in their 100000's of words-- much cut and paste--- I truly feel sorry for anyone who actually takes this bogus advice and trashes their account due to the idiocracy passed off as market knowledge.

I have always sought out and found mentors that have proven histories in whatever they are doing-- It's not hard to find and work with, befriend these folks-- no need for the phony bogus assclowns.

ALWAYS look for evidence when seeking a mentor-- the anonymous mentors on this board RUN whenever any questions are asked--

Here is a great article that explains how to find a real mentor, so you don't have to keep following the loser phony mentors on elite.

THE material on RESEARCH is key---
https://www.linkedin.com/pulse/ultimate-guide-finding-mentor-james-altucher?trk=prof-post

I've had about 8-9 mentors in my life. I've had many many more virtual mentors. And it's an ongoing process. I try to learn from everyone. I constantly try to find people I respect who can teach me what they do. Right now I have mentors ranging in age from 20 to 80.

I also get better at the quality of people who mentor me. No more mistresses, for instance. But this was a learning process.

Learning never stops. Many people die at 25 but are not put in the coffin until 75. The learning stopped for them early.

Every day I seek out mentors: people who have great experience to help me, particularly in areas I am new to, excited about, and know nothing about.

Here are the only ways I've ever been able to find a mentor. I hope they work for you as well.

RESEARCH

I do heavy research on their bios, their histories, everything. One time I even read an academic paper written in 1965 by one person who I wanted to mentor me and I sent him my comments on it.

I read all the books they like and have spoken publicly about. I read all the analysis on the books so I can discuss it with them. I read all of their books. I read about people they've previously mentored and what happened.

This may seem overly coordinated or manipulative. But this is the real world and not the land of legend where magical caddies help golf pros deal with a spiritual crisis in the middle of the most important tournament of their lives.

VALUE

I send ideas how they can improve their businesses. I still do this every day. I just did it about 20 minutes ago with a business I want to learn more about.

But this involves even more work and research. For me at least, I have to put in a lot of time before someone wants to spend time with me.
 
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Yeah, I'm pretty sick of these not-so-stealth vendors with their high-priced newsletters who have no trading plans whatsoever or even trading systems, at least trading systems that they understand well enough to explain and whose icons have blown their accounts on more than one occasion (blowing an account even once is cause for alarm). Of course, trading Other People's Money enables one to get away with quite a lot, particularly when it comes to bad calls. It is not, after all, their money. What have they got to lose besides a bonus, or, at worst, their jobs?

The best mentor, the only mentor, is the market. Study the market. Not only does the market not lie but studying it costs nothing but time. Study the market, develop a trading plan, thoroughly test it and re-test it and re-test it until it is consistently profitable, then implement it, fearlessly, emotionlessly, with discipline. Above all, believe nothing that people claim on the internet. This isn't 1994. People lie, for all sorts of reasons, and have done so for quite a while now. Study the market. Trust the market. The market can be your friend if you show it the proper respect.
 
Good advice overall. You have to be willing and ready to give something if you expect to get something, especially from a stranger.

I still think the best advice is to be your own mentor. I've gotten guidance from some great posts here and elsewhere but the best ideas I've had are still the ones I got on my own. I'm no genius so it took a very long time but if you work at something long enough and you live long enough, you'll eventually get someplace worth being. Not sure if it works out to the fabled 10,000 hours but at this point, I no longer care.
 
if you can't quickly judge a guy who claims to be a mentor I doubt you will have much success as a trader. Traders are the most gullable people on earth. If you ask, and you are not a dick about it, most will help if you are going through something they have already been through. They won't charge you anything and it won't cost them anything because they have already moved on.
 
marketsurfer said:
After carefully reading the "price action" mentors on this site, it is quite obvious that there is zero value in their 100000's of words-- much cut and paste--- I truly feel sorry for anyone who actually takes this bogus advice and trashes their account due to the idiocracy passed off as market knowledge.
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More...

Surf, every would-be trader with no analytical skills hoping to make a great living off of 15K needs the right fake mentor to guide them through the process. It starts with Delusions of grandeur, then Euphoria at finding the right fake mentor, eventually denial or poor results sets in, and ultimately frustration and despair which causes the light bulb to go off for the select few. At this point an elite group of novice traders step up to become the next generation of fake trading mentors.

If this cycle was not maintained, how many second tier brokerage firms and vendors would go out of business?
 
MrN said:
Surf, every would-be trader with no analytical skills hoping to make a great living off of 15K needs the right fake mentor to guide them through the process. It starts with Delusions of grandeur, then Euphoria at finding the right fake mentor, eventually denial or poor results sets in, and ultimately frustration and despair which causes the light bulb to go off for the select few. At this point an elite group of novice traders step up to become the next generation of fake trading mentors.

If this cycle was not maintained, how many second tier brokerage firms and vendors would go out of business?
More...

That's very true, Mr.N. These guys do serve a purpose of bringing in new money to the markets. Good point.
 
MrN said:
Surf, every would-be trader with no analytical skills hoping to make a great living off of 15K needs the right fake mentor to guide them through the process. It starts with Delusions of grandeur, then Euphoria at finding the right fake mentor, eventually denial or poor results sets in, and ultimately frustration and despair which causes the light bulb to go off for the select few. At this point an elite group of novice traders step up to become the next generation of fake trading mentors.

If this cycle was not maintained, how many second tier brokerage firms and vendors would go out of business?
More...



Bingo !

How they slaughter cattle ? they send a bull ahead, he will run ahead of the heard of cows , leader, that brings them to the slaughter... he is spared, but not cows...

All those mentors doing invaluable job ob bringing meat to the market.
 
Hear, Hear!

"He struggled with learning how to trade and master the market for several years..."

"While technical analysis is useful for describing what has happened in the stock market for illustrative purposes, it fails as a consistent forecasting method since it only looks at past price." (And I guess Price Drivers are consistent (SHAK, AAPL, YM, right, Ok...)

"HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN."

http://astockcollapsenow.com/disclaimer/

I guess Magna will be called to the rescue once again.
 
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