And chat with you to find out how much you know, like, are you Padu's brother?.
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I m looking for a mentor
- Thread starter Doncharles2020
- Start date
Trading is not about learning where to get in, matter of fact entering is last aspect of learning how to trade. And a good mentor will spend like 2 years with you, and no, I stopped taking new students few years ago, took way too much time away from other endeavors I am undertaking.
Takes much time to memorize when not to take trades, so you have to learn to read charting like breathing, much risk management involved, trading has to be considered like owning any other type of business, most people fail as they would fail any other business because of poor management of not knowing(learning) the business. Good mentor will not allow you to trade till you can sim trade and triple 3 separate times for swing or longer term or 18 of 20 days in day trading and losing days under $100. So at very least for here, you can prove to yourself it can be done in sim for japanese plushies. But there is months of sim to memorize patterns, plus adapting to price action changes.
Learning some system or buying some course does not teach you how to trade which is adapting to market conditions.
If I was sent back in time, learn spread trading which is a is difficult as day trading but margins smaller, you can make/lose as much as trading underlying futures.
Wish you good luck in your endeavor.
Simple tip, don't ever consider anyone to teach you whose credible live trading records you have not seen. This filter will keep you away from 98% of morons who claim they can teach but can't make a dime for themselves.
Could not agree more. Why do you teach??? Because your method does not make money consistently and gurus revert to other methods of income, selling courses that have little to no value.
Most of their ideas are already out there.
Most of their ideas are already out there.
And chat with you to find out how much you know, like, are you Padu's brother?.
I have no idea who your talking about.
Hello deaddog,
Why do you think the traders you tried to help don't have a trading plan? Or why do you think most traders do not have a trading plan?
Thanks.
Trading Plan? This is one of the stupid comments about investing.
It's like the age old question-- What do you want out of the market.
A- To make as much money as possible, preferably as fast as possible.
You know what I cannot stand? These money managers that come on during big down swells and say that what we should do is look for ' quality ' quality of earnings cash flow vs debt and consistency of delivering on promises. So what they really mean is they lose all their morals and guideposts when the market is going up and they will buy anything the next top manager is buying sight unseen.
The tactics you use when the market is diving are the exact same one's you should use when the market is rising. Remember that.
Free yourself from software and automated watch lists they provide too much info and too many false break outs. Keep a notebook and force yourself to write everything down. In the margins remind yourself of you original thesis, then look for the stock to reflect some aspect of that thesis. Like gambling? Follow CHDN GAN & PENN <---
Everyone I know has made a ton on these names PENN just 15% yesterday... But that gain is based off Hype and undelivered promises. They are creating a sports online betting site affiliated with Barstool but there's no guarantee on the quality of the build out... and they may be a bit late as Baseball is gearing up. Using The Method -- applying the same metrics in an up market as to a down-- Penn is actually a sell today.
Do you like streaming? Myriad of investing options there.
Do you like 5G
Or is 5G 1G more than we really need?
What happens when a stock is represented in too many index funds? Could that turn into a real problem in a Bear market?
Do you want to invest outside of the new nifty fifty tech stocks? Or ride the wave?
Can you do Both? The answer is yes. Carefully.
THE METHOD--
1) wake up four huge cups of coffee read all the news of the morning.
2) jot down anything you find interesting.... India is pricing GILD's generic Covid drug at so and so... a promising biotech has released some info... Someone is having a secondary... upgrade/downgrade.Camping is " in" style.
3) get extremely stoned
4) consult your watch list-- who is starting to move who has moved the most... who do you want to buy now and who do you want to wait for a retrace. Ebay... I don't own it it got away from me around $42 I am waiting for a pullback from where it is I'm guessing $48. How do you know when to buy? I've let $6 get away on the upside I divide by two and my Buy Point is in the $44-$45 area.
5) Is there anyone to buy today who has just started a move? Yes. The answer is right in front of you-- have a target price in mind and don't be afraid to jump on board. Just make sure you are jumping onto a ship with rising earnings. Today that would be Limelight Net.
How do you know? You have been watching it for weeks....~stoney
Do nothing of the above, forget mentors, forget seminars.... since you know not much about trading you would not, be able to ask the right questions anyway... instead. read, study... test, read more... study markets, and then read some more.. spend everyday like this for the next 1-2 years... after that then decide, if you might be of help by some mentors or seminars.... i think only then you can actually absorb any good info and be enough critical in your thinking to filter off the 99% that has no business teaching anyone... what a mentor or seminar is good for after you have some experience, is to get YOURSELF ideas to use in your own modelling.... anyway just my 2 humble cents after a decade of trading... good luck
Bad advice. Very bad advice.
*see my answer two posts down.
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i'll mentor you
DON'T TRADE REAL MONEY until you're good on demo for at least 1 year
you're welcome
Most everyone beats demos that are offered to the public, for the obvious reasons.
See my recommendation in the post following this.
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As I start to read the replies, I am shocked and realize I would be responding to every fourth well meaning post with things like: Horrible advice. Don't do that. Follow what this one says if you want to blow up time and money, etc.
So....
Looking for a winning trader as a mentor is the right path.
The problem is that the great majority of paid gurus, teachers, course sellers are hustlers who used to win or who never won.
And almost all mom and pop day traders lose-- algorithms and unfavorable rules, etc. I know a room full of guys who were winners 15 years ago and none win now.
Shonfeld, the largest trainer and employer of manual traders, putting up all the money, shut that program down many years ago and moved to mostly quant trading.
But your goal should be to develop a relationship with an active winning trader. Work for him, if possible.
The problem is that most aspiring traders will not be able to do this, but that should be their goal.
Another way would to take a shot and put in a resume with SIG... Susquehanna International Group.
If you keep "finding a trustworthy mentor" as your goal, in the end, good things should happen, even if the end is very different than you imagined, and does not involve trading.
_________
Be around people who have successfully done what you want to do.
Since what works in trading often changes, strive to be around people who are successful right now.
And since there is a lot of lying and delusion the when it comes to trading, you must investigate deeply and strive to speak with many believable people.
* So much of the advice in this thread is bad or at mimimim a time waster.
**ReadingTraders of the New Era will not make you a winning trader but it will give you a feel of what you are up against as well as give you some good information and advice.
So....
Looking for a winning trader as a mentor is the right path.
The problem is that the great majority of paid gurus, teachers, course sellers are hustlers who used to win or who never won.
And almost all mom and pop day traders lose-- algorithms and unfavorable rules, etc. I know a room full of guys who were winners 15 years ago and none win now.
Shonfeld, the largest trainer and employer of manual traders, putting up all the money, shut that program down many years ago and moved to mostly quant trading.
But your goal should be to develop a relationship with an active winning trader. Work for him, if possible.
The problem is that most aspiring traders will not be able to do this, but that should be their goal.
Another way would to take a shot and put in a resume with SIG... Susquehanna International Group.
If you keep "finding a trustworthy mentor" as your goal, in the end, good things should happen, even if the end is very different than you imagined, and does not involve trading.
_________
Be around people who have successfully done what you want to do.
Since what works in trading often changes, strive to be around people who are successful right now.
And since there is a lot of lying and delusion the when it comes to trading, you must investigate deeply and strive to speak with many believable people.
* So much of the advice in this thread is bad or at mimimim a time waster.
**ReadingTraders of the New Era will not make you a winning trader but it will give you a feel of what you are up against as well as give you some good information and advice.
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There are different trading mentors :
. EliteCurrenSea
. Nial Fuller's “LearnToTradeTheMarket.com”
. TheLazyTrader
. Vladimir Ribakov's “TradersAcademyClub.com”
. Andrew Mitchem aka “The Forex Trading Coach”
. Forex Mentor PRO.
. BabyPips
Out of these, Babypips is the most popularly used trading mentor. It has easy trading courses and is very well explained.
. EliteCurrenSea
. Nial Fuller's “LearnToTradeTheMarket.com”
. TheLazyTrader
. Vladimir Ribakov's “TradersAcademyClub.com”
. Andrew Mitchem aka “The Forex Trading Coach”
. Forex Mentor PRO.
. BabyPips
Out of these, Babypips is the most popularly used trading mentor. It has easy trading courses and is very well explained.
There are different trading mentors :
. EliteCurrenSea
. Nial Fuller's “LearnToTradeTheMarket.com”
. TheLazyTrader
. Vladimir Ribakov's “TradersAcademyClub.com”
. Andrew Mitchem aka “The Forex Trading Coach”
. Forex Mentor PRO.
. BabyPips
Out of these, Babypips is the most popularly used trading mentor. It has easy trading courses and is very well explained.
There are different trading mentors :
. EliteCurrenSea
. Nial Fuller's “LearnToTradeTheMarket.com”
. TheLazyTrader
. Vladimir Ribakov's “TradersAcademyClub.com”
. Andrew Mitchem aka “The Forex Trading Coach”
. Forex Mentor PRO.
. BabyPips
Out of these, Babypips is the most popularly used trading mentor. It has easy trading courses and is very well explained.
And I have a great bridge in Brooklyn to sell. PM me for details.
You are on the wrong path.
Please read my post that is above this one.