I really sy
I really sympathize with you, as I was in your place several years ago, had a dream to trade for a living and it turned out to be such a difficult job to learn, with all the fake educators and the forums where majority of traders are rookies themselves. Also, I had a lot of preconceptions (which I can see in your post) and all this held me down for several years. Then I got lucky to get mentorship from real professionals and after a year of hard work I started to be consistently profitable. It is possible to find such a mentor though it is not easy, but the expectations must be set correct and preconceptions corrected because these are actually a main barrier to move from an amateur to profitable trader. It is not a surprise because we all start reading mass educators books and look at the retail educators sides (we do not know any different after all) and then we keep wasting time trying to develop these fake strategies and set impossible expectations based on the crap education we had received.
You would like to hire a professional who would teach you, but would you like to become a profitable trader or are insisting on developing the ways that did not work for you so far?
You really will limit yourself by wanting to continue with the method you were no successful with in the first place. Have you considered that your lack consistency may have been only not your fault but rather the method´s? Have you noticed that Mack has never been seen trading live? That his videos are always showing the picture in hind side? I am aware that Mack has a big retail traders following on the forums (and seems to be a nice guy), but the pro traders in prop shops do not trade this way. All these trend lines, and entries based on candle bars – it is nonsense. It is reactive method and not suitable for profitable and consistent day trading. The book that Mack sells (I guess you read it) has some good points but there is a lot of nonsense as well, mainly regarding risk management and target setting. This guy has not been a pro trader – that is for sure and (that is why you only see things shown in the hind side instead of real trades made real time).
Secondly – one of the most important things – choosing an instrument that is suitable for trading and conducive to your risk acceptance, your trading capital, psychology etc. ES is the most popular instrument traded by retail traders (everybody from grandmothers to teenagers seem to trade it) but it is not necessarily the best and easiest choice for everybody. So, the subject of choosing right instrument is very important and even paramount for a rookie if he/she wants to start bringing consistent profits back home quickly – and ES is not necessarily the right choice.
Then the profit expectations – if you expect to have a consistent daily profit of 500 buck day (based on 10K capital) day by day you are setting yourself for a frustration and you will give up quickly. It is very possible to generate upper middle-class salary through day trading (provided right method & execution), but profits do not come with this kind of regularity. Whoever tells you differently – they are lying.
There is also learning curve and realistic time necessary for a beginner to become a consistent day trader (this has been actually proven) and based on your short email, I am afraid you are too optimistic / not realistic.
Finally – there is a mentor – without a good coach it is virtually impossible to start. You obviously realized that majority of the retail educators actually do not trade (it is a huge scam industry) and that is why you have created all these conditions in your mail. However – this way you will not find a good mentor. You need to offer realistic and fair deal fist of all, because nobody in his right mind will be teaching you for free (spending their valuable time and giving you knowledge) on the base of your future profits. And this is because of another very common misconception that rookies have – they think that trading is a problem to solve or a secret to discover. However, they need to realize that trading is a game and an art – and being successful in this endeavour in means being better and more consistent than the other participants of the game. Therefore, though receiving a good method and training is essential - it is not enough – your hard work, intelligence and consistence, your psychology and metal resilience, how you apply in practice the training you receive - all of that supported by many hours of screen time is necessary as well. No serious coach will waste so much of his time for free based on future results that do not depend on him. It is like me asking you to teach me playing jazz (which btw I would love to know) and then telling you that I will pay after I received my first Grammy….
The only way is to speak to people who really trade (if you can find such), discuss with them for an hour or so and make your own judgment if they are legit and real deal or not. They need to be paid per hour and maybe you can get a discount from them if you order more classes in advance. Everything else is not serious and serious people will not be discussing with you.
I wanted to respond to your post because I remember the way I was lost myself and wasted time and money listening and speaking with people who pretended to know better, but in fact did not have a clue. And this shows on this thread more often than not as well. Second think is that generally rookies do not have the idea (quite understandably) what is involved in trading, what profits to expect and even what trading method and instrument to choose. They basically start from the wrong end without deciding on the basics. This sets them up for a frustration and that is why they do not last long and give up their dreams prematurely. Hope this helps a bit. I can chat with you on Skype (free) if you would like to explore more, because posts like this are not conducive for the detail. If you feel so, PM me and we may catch up on Skype.
