I am sick of these fake mentors

marketsurfer said:
Trading works in a non linear system wheras most other professions / trades are very linear.

The first step to success is to realize what you are dealing with. Next understanding that you are the bottom of the food chain, information flow, and capital levels is the next step in right thinking about trading.

surf
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IMHO, most of it matters not one little bit - who they are, what they have, how smart they are, how stupid they are, how long they work, how lazy they are!

What does matter though, very much, is what yo do yourself - just replace "they" with "you" above!

Risk control alone with not yield success, but it will give you a fighting chance in the underhand world of the financial markets!

What will help you greatly is to understand that making money is easy, keeping it is very hard, and for most it is unfortunately too late by the time they fully understand what this means.

Will a fake mentor help you - maybe so, maybe not, but he/she will probably reduce your available trading capital, which is vital to your success.

So, will learning from others help you, well, that entirely depends on who you learn from and whether they know what they are talking about - point, Mr Hawaii is a typical example of someone whom you can learn something from, but what you will learn is very basic even though he likes to call it "professional" - he is a marketing professional, not a professional financial trading expert - there is a big difference, and for those who are unable to spot the difference, well, they will unfortunately find out when it is too late!

There are a lot of Mr Hawaii's around - so buyer beware!!!!!!!!!!!!!!

J_S
 
Q3D said:
The analogy isn't that great because in trading there are many participants, so it's not just A vs. B, it would be a vs. b,c,d,e,f....with the few winners being ones with institutional financing, speed, and insider knowledge, so the zero-sum game of trading has the odds against an individual participant's success much more than my analogy suggested.
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There is only one person whom you really have to worry about when trading - the rest do not really matter at all and will have no major effect on what you make!

There is an abundance of food in the sea, and there is one particular mammal that can dive so deep and hold its breath for at least 90 minutes at enormous pressure - it is also very big - why are similar mammals not so big?

J_S
 
Well, in the final analysis, a potential client needs to know if the "mentor" or "teacher" or "insert title here" has real actual clients who have used the methodology or strategy or "insert deliverable title here" to make money for themselves. Were those clients able to take that deliverable and profit from it? How many clients ? Can you talk to those clients? After its all said and done, did the clients move forward on their own accord and catch fish for themselves? Do the clients believe that the deliverable is enduring and will reap sustainable benefits ?

Focus on the clients. That's the very best analog for how a prospective client might fare.

Just my own philosophy.
 
Any "real" mentor will know that each and every person is different and WILL require a specific tailored plan in order for that person to succeed.

This means a lot more work for the person who is trying to teach, so, it also stands to reason that it will take a lot more time for the mentor, which means more money, as time = money.

I would say that 99% of available trading plans from these so called "mentors" does not cover IN DETAIL what I have mentioned above - if I am wrong then I will say so once it is proven otherwise - so here is a chance for once and for all for a real "mentor" to step up to the plate and answer any questions in relation to this very important aspect of "teaching"!

Who will be the first to step up to the plate?

J_S

p.s
I learned more about trading from a person that I became friendly with than I ever did from the many thousands of $$ I spent over the years on courses, books, so called "mentors", etc - not one cent was ever asked for, but as in all walks of life, one good deed deserves another.
 
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http://www.marketwatch.com/story/te...-a-stock-picking-slapdown-who-wins-2015-09-04

This has been my experience. A number of years ago i went deep in fundamental trading including a monthly update on fundamentals on all Australian stocks and i lost money big time. The only fundamentals i use these days is as a filter on TA and is to glance at P/E ratios, number of shares on issue and NPAT ratio compared to revenue. These will be in my watch list which then i trade in and out of using TA.
 
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J_Smith said:
Any "real" mentor will know that each and every person is different and WILL require a specific tailored plan in order for that person to succeed.

This means a lot more work for the person who is trying to teach, so, it also stands to reason that it will take a lot more time for the mentor, which means more money, as time = money.

I would say that 99% of available trading plans from these so called "mentors" does not cover IN DETAIL what I have mentioned above - if I am wrong then I will say so once it is proven otherwise - so here is a chance for once and for all for a real "mentor" to step up to the plate and answer any questions in relation to this very important aspect of "teaching"!

Who will be the first to step up to the plate?

J_S

p.s
I learned more about trading from a person that I became friendly with than I ever did from the many thousands of $$ I spent over the years on courses, books, so called "mentors", etc - not one cent was ever asked for, but as in all walks of life, one good deed deserves another.
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I'll step-up...
 
Mtrader said:
Complete silence says all that need to be said.

I knew a few guys (four) who have more or less the same profile as MS:
  • they knew many rich and famous people (they said, speculating it would open doors for them, or at least build a reputation of fame, importance and most of all credibility)
  • they were very good in telling stories people wanted to hear
  • they were arrogant just to show how confident they were, they felt themselves untouchable
  • they worked with other people's
  • they always had an explanation for everything
  • they pretended to be successful
And most important: they lost all their money, millions of their client's money, and one even had to run away to South America to save his life. Another one is in prison for a $+40 million (fake) blow up. The money was found in Switzerland.

Profiles that are very dangerous for your wallet:
  • People who are very sympathetic. They first try to win your confidence. Without that they will never get the opportunity to take your money.
  • People who apparently know a lot of rich and/or famous people. Sometimes they even suggest making investments for them. It is tempting to invest with an expert who works for the richest people on earth.
  • These profiles also spread around a lot of anecdotes to proof they are well introduced. Like telling they played tennis together, they parked their cars next of each others, they had dinner together.... All kinds of anecdotes that cannot be checked.
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Mtrader said:
I forgot still one important "quality" of these scammers:
if they get caught or get in an uncomfortable position (risk of being exposed) they disappear and appear somewhere else to start over again.

For example they stop posting in a particular thread, and ignore it, but continue in another one.
It is based on the economical principle that you should never reinvest in a losing scenario. Better to invest in a new project. And ignoring is used to stop the conversation so that not more harm can be done, and people would stop reading that thread. The less people who read, the more people rest available for "future projects".

I think there are several examples of this phenomon on ET.
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Just a small follow up:
MS behavior confirmed my logic. I made the statements above on Augustus 11, MS did not react (which is not his usual behavior), and he started to post again august 22. No reaction whatsoever on my postings, just ignoring them and hoping others will forget about them too.
 
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