I'm looking for a /ES mentor -and i'll give you half my profits for 2yrs.
- Thread starter djporter91
- Start date
For some very strange reasons, every single thread eventually becomes about dest. Everybody has him on Ignore and yet everybody still answers his posts and talks about him. He's like an uninvited ghost that crashes your every party that you can never get rid of until of course the admin. locks the thread down. LOL
Incredible!!
Even more strangely, many people likes him.
Amen...
Right there you are set up to fail. You need to reconfigure your thinking. The goal is never to make $500 or any other amount per day. If that is your goal, go find yourself a job that pays you $500/day. The goal is to grow your account by however much you are able to grow it while protecting your capital from excessive loss on any given day; and that will depend upon your trading plan, you ability to execute that plan, and the market's action on any particular day.
As you look for a mentor, ask him or her how many points per day is the goal. If he or she has an answer in terms of points or dollars, then that person is almost certainly not a successful day trader of the emini. Successful traders don't wonder how many points profit per day should be their minimum goal, because successful traders know there is no answer to that question. The market might give 100 points one day and nothing the next.
Another common barrier to success is the facile dismissal of the simple and the old when it comes to trading the emini.
What have you studied? What have you "done" to educate yourself about the emini and over how many years?
Your expectation of 100% winning days is unrealistic.
In the context of intraday trading commodities instruments using chart, the minimum I found realistic is 1 net win per week. Therefore, 4 net wins per month. It is up to the trader whether to gain 1 net win per week and stop trading for that week or to gain 4 net wins and stop trading for that month.
To achieve AVERAGE $500/day, please calculate how much capital the trading system need to open lot size to gain $2500 per net win and to endure drawdawn period.
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Not only that, but the amount of lessons and trial/ error that has to be beaten into a person for the small percentage chance they will be a profitable trader. The amount of time you lose in continually perfecting your own game and the actual need for half of someone else's profits. There's a reason anyone rarely mentors and most have to learn from years and years of study and losses. What's the best way to eat an elephant? One bite at a time. No one held my hand to get where I am. I started with Google and asked a question. That question led to more questions. Reading and reading and reading. Then losing and losing and losing. Then finally understanding what I had been doing wrong and investing significant capital. Then losing it all. Over and over until I finally began winning over years. Tell me which part of giving up part of my own time and everything I have given to get where I am makes it worth it to mentor and give all of that to someone else simply because they don't want to do the same thing and take a shortcut?
No profitable trader is hurting or even close to needing any profits from teaching their own hard earned lessons to anyone else so it becomes almost a slap in the face when people think just slinging a little money at you somehow makes it worth it.
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Your goal shouldn't be that. Your first goal should be not to lose any money. If you can achieve that, you'll be better than most of the guys that are trying.
Then, in your subsequent goal, maybe thinking to start to make some.
But starting to think to make 5%/day is the best way to fail.
Yep!! Here's a trader that has apparently got it made.
Life is short!! Remember to spend as much time as you can on internet forums desperately seeking validation from strangers.