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I surpassed my trading mentor, but his way is still better, How?
- Thread starter confused-NOT
- Start date
Quote from confused,NOT:
Well he wasnât really mentor, the type that would give me his edge and explain how to use it.
But he did point me in the right direction many times, he knew I would figure things out but he didnât give spelled out answers.
Well anyway, long story short, (hey notice âlongâ and âshortâ here)
Anyway
I make now double the return he makes, keep in mind I am not talking recent bull drive here, I am talking overall. But he told me he would never trade the way I do, even though I do greater return on portfolio.
He trades everything, oil, stocks, futrs, you name it. I trade only futures.
He does around 15 trades per day.
I trade 2 times per week. I trade very large size. He trades small size.
He is trading for the last 15 years, Iâve been at this game for only 2-3 years.
Now here is the thing, I do better return, yet I canât help but feel that he still knows what he is doing better than me.
Why wouldnât he otherwise, use my style of trading.
WhyOhWhy, do you remember the ending in 'Trading Places'?
I'd give more credence to somebody, with decent experiences, who trades smaller lots more frequently than somebody who makes 1 or 2 big picks.
<i>"If you are a trader with lets say 70% accuracy, increasing size won't change your strategy, only your profit for the better
right????"</i>
I presume your current personal approach to trading enjoys a 70% accuracy rate. Do you know how it will perform in other market extremes? How have you fared during periods of high to extremely high volatility with wild price swings intraday?
Likewise, what is your real-time experience during correction periods where price action just sells off day after day with seemingly no end in sight?
Bull markets, bear markets and consolidation markets all trade distinctly different. Your resume` does not include all phases of the market. Your mentor's resume` does. Trust me on this one... there is a lot more market action you've not seen yet, let alone navigated with real money decisions.
Many traders who are currently profitable in this bull market stage of the game are secretly (or openly) praying it will never change, because they inwardly fear the unknown. But change will surely come, sooner or later. Many of those same traders who are successful now will perish then rather than adapt. I'm guessing your mentor learned to adapt over the past 15 years.
Hopefully, your current success rate will last forever. Please be prepared for some challenges to come, and keep your capital exposure limited. Sooner than later, the answers to your question(s) here will answer themselves.
Hope this helps
right????"</i>
I presume your current personal approach to trading enjoys a 70% accuracy rate. Do you know how it will perform in other market extremes? How have you fared during periods of high to extremely high volatility with wild price swings intraday?
Likewise, what is your real-time experience during correction periods where price action just sells off day after day with seemingly no end in sight?
Bull markets, bear markets and consolidation markets all trade distinctly different. Your resume` does not include all phases of the market. Your mentor's resume` does. Trust me on this one... there is a lot more market action you've not seen yet, let alone navigated with real money decisions.
Many traders who are currently profitable in this bull market stage of the game are secretly (or openly) praying it will never change, because they inwardly fear the unknown. But change will surely come, sooner or later. Many of those same traders who are successful now will perish then rather than adapt. I'm guessing your mentor learned to adapt over the past 15 years.
Hopefully, your current success rate will last forever. Please be prepared for some challenges to come, and keep your capital exposure limited. Sooner than later, the answers to your question(s) here will answer themselves.
Hope this helps
-I trade 2 times per week. I trade very large size.-
-Iâve been at this game for only 2-3 years.-
can you tell me what makes you only trade 2 X a week ?
do you have another job ? have you considered applying
to a prop futures firm ?
what futures do you trade and do you ever hold a position
overnight ?
have you ever traded more than 2 X a week esp if you had a losing trade or two that week ?
be careful ... and good luck kid
-Iâve been at this game for only 2-3 years.-
can you tell me what makes you only trade 2 X a week ?
do you have another job ? have you considered applying
to a prop futures firm ?
what futures do you trade and do you ever hold a position
overnight ?
have you ever traded more than 2 X a week esp if you had a losing trade or two that week ?
be careful ... and good luck kid
Thorn might be right on this one, I don't have a clue on time frame and where the actual top is. I do see a bearish divergence in MACD/RSI on an attached daily chart, DI+ is about to cross DI-, whether this will actually happen is an assumption. I will put on my bear outfit once 1360.98 is broken/closed below.
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Quote from austinp:
<i>"If you are a trader with lets say 70% accuracy, increasing size won't change your strategy, only your profit for the better
right????"</i>
I presume your current personal approach to trading enjoys a 70% accuracy rate. Do you know how it will perform in other market extremes? How have you fared during periods of high to extremely high volatility with wild price swings intraday?
Likewise, what is your real-time experience during correction periods where price action just sells off day after day with seemingly no end in sight?
Bull markets, bear markets and consolidation markets all trade distinctly different. Your resume` does not include all phases of the market. Your mentor's resume` does. Trust me on this one... there is a lot more market action you've not seen yet, let alone navigated with real money decisions.
Many traders who are currently profitable in this bull market stage of the game are secretly (or openly) praying it will never change, because they inwardly fear the unknown. But change will surely come, sooner or later. Many of those same traders who are successful now will perish then rather than adapt. I'm guessing your mentor learned to adapt over the past 15 years.
Hopefully, your current success rate will last forever. Please be prepared for some challenges to come, and keep your capital exposure limited. Sooner than later, the answers to your question(s) here will answer themselves.
Hope this helps
Very good post.