I'm looking for a /ES mentor -and i'll give you half my profits for 2yrs.

I had a partial mentor who was someone I asked advice from initially.
In the very early days, from the goodness of his heart he did some coding for me.
Then I voluntarily began paying him as I continued to use him.
Then he began to bill me which we agreed upon.
That then led on to me to begin understanding coding language.
That led onto me being weaned off using someone else to do my coding.
That then progressed to me being self sufficient in creating my own works.
Without the initial help up from 'kaveman' my coding mentor I would be buggered I think.
 
nyxtrader said:
Why not...
This is going to be a very basic explanation. First you must think in terms of equilibrium. Meaning, if price fails to break out a particular side of a range, price is most likely going to the other side of that range. Now we must define those ranges. I have attached a chart for example. The first range (blue arrows). Price failed to hold below the 3140.50..So where is price most likely to go? 3204.25, then 3220..hopefully that makes sense. ..There were two candles high on the first was 3204.25 & 3220. Same goes for the candle with a orange arrow. Today we could not break down below 3196.50..which was the bottom of candle two. So where is price most likely to go? The top of that candle which was 3224. There is a much deeper conversation around this topic. But, this gives you a starting point.
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If you go back and look at the chart in the original post, it identifies a very specific range. Once price couldn't break above 3224, price will go test the other side of the range. Guess where buyers stepped up? The bottom of that candle 3196.50. If you want a quantifiable strategy, this is your best bet. Good luck.
 
Sweet Bobby said:
He is a pussy coward, no doubt!
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No, he's not a "pussy coward", Mr. Destriero is playing with funds way above our skill set and probably gets tired of seeing people make outrageous mistakes and lose money they can't afford. I made a blunder by not thoroughly reading a post I thought was saying "All threads end up talking about Destriero". I wrote "That's funny, I don't care who you are" because we are in the midst of "In Search for a Mentor" that gravitated to talking about Mr. Destriero. I deserve being put on his "Ignore List" because I should have kept my mouth shut and had better reading comprehension. If I could go back in time I would have avoided commenting on that post. Very few traders online are the real deal, Destriero is one of the best option traders hands down.

My stupidity put me on his "Ignore Trigger", I wish him the best and hope he continues making seven figure trades.
 
Bugsy said:
If I knew somebody that was an extremely charitable person, to the point they cared more about the money so they could give it to those in need, I would teach them in a heartbeat. But I would have to know it to be true over the course of a long period of time, not just because they are like, "Hey that's me!" This is what I referred to as being mutually beneficial beyond a monetary exchange.

Why would I care about teaching someone who really just wants to benefit themselves with more bling which is the majority of people who say they want to learn it yet somehow cant be bothered to put in the dirty work to teach themselves?

I literally lost $10s of thousands of dollars teaching myself, and I'm not some big money or great job guy. A warehouse job. I drove around a 20 year old clunker and kept no real debt. Worked thousands of hours of overtime. All my savings went towards educational material and market experience. While others were partying, drinking, clubbing on their weekends I was studying because I was passionate about learning it, even if it meant I may never learn it and may die broke. I didn't care.

I spent literally thousands and thousands of hours, and years and years of my life, reading, testing, learning, and analyzing charts, and you feel others are entitled to my knowledge "so they can give back to their community?" More like give back to themselves. Most people want the knowledge because they want all the money that comes with that knowledge.

Ask any trader, any real trader, and they will tell you that anyone who has a true desire will get there without the need of some mentor. What amazes me is people who think it is only about the dollars and cents. It's about the principle of people wanting a free ride just because they feel they have a right to it. Anybody that truly wanted to get there wouldn't be asking other people to do it for them in the first place.
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I agree with you totally. I do not think you can learn anyone to trade unless they have the mindset and the will what you are talking about. Either they are going to be a trader because they deserve it or they are going to be doing something else. No mentoring is going to change that. You only help people that want to help them self being a trader. And if they are succesfull I hope they can do see that their succes has a responsability factor of how they can improve their selfs and their community. If they do not, then that is also okay for me. I think that every great trader had a mentor and do mentor. If you, for example, read about traders in the market wizard series, they al most all had a mentor and/or do mentor other traders. Out of my head Paul Tudor Jones had Elli Tullis and Paul Tudor Jones teach others how to trade. Edward Seykota has a trading tribe for years to teach others. George Soros took Druckenmiller under his wing after he left Dryfus where he learned the craft. The Turtles came out of a very specific and direct mentorship and so on...
 
ironchef said:
Not to worry, we are all newbies and we learn together on ET. If I may, let me give you some food for thought.


As an example, @destriero, I knew he was the real deal the moment I compared my BIIB trade to his BIIB butterfly. He yelled at me, called me names and put me on ignore because I was a pest. Still I am grateful because from him I finally learned the difference between position and volatility.

One day you will have your eureka moment and you are there. If not you know trading is not for you.

Good luck.
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ya the R:R on OTM butterflies, or double OTM butterflies in high IV and High HV environments, is way better than most option structures for capturing increases in delta/gamma/vega. Ive done a little options trading, got into Jeff Augen and some other options educational material. the R:R for options in general is unparalleled imho. not to many derivatives can turn a 5% move into a 1000% return without increasing risk. id like to get into them again.

no hard feelings man, appreciate the comment from someone who's been around a while.
 
Gaslight Capital said:
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?
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these are all great points. let me explain

1.) the $500 figure was more for being able to do the math off a daily figure to estimate what'd id be willing to pay over the course of learning/implementing/trading. i'm going to be doing this for the rest of my life, i've got no problem paying half of my gains for two years.

2.) i agree with you completely that daily goals cause more problems than they solve. there truly is no way to know. trading is a probability game with an unkown future sample size, and each trade is a statistically independent event. 15 losses in a row out of 20 trade sample is. 15 losses in a row out of 100,000 is just another day. i'm committed to long term trading, and i understand that every trade is just one of a very large number, and that theres no way of getting a perfectly stable income out of trading. which means theres absolutely no reason to be euphoric or upset about wins or losses. you can rightfully get excited about something not in your control. if i win $.25-$2 when a dice rolls 1-4 and lose $.25-$1 when it rolls 5-6, how upset can i be over rolling a 5? would i not just roll them again? that's trading to me. Building a system w positive expectancy, writing out and knowing exactly what'll youll do in every situation, then trading your plan. its a business.

disclosure: that dice example is from Bob Volmans book on scalping with price action in the forex markets. wish i was smart enough to come up with that!

3.) i agree that older ways do still work. i'm always surprised by the mediocre results of backtesting MA crosses. in general tho, systems do lose their effectives overtime. LBR writes about the Turtle Soup trade in her Street Smarts book, which is designed to fade breakouts, and the ES is known for false breakouts. Robert Carver (allegedly) successfully trades breakout systems in his book, but hes trading monthly/weekly time frames, but the R:R can be dismal, along with the lack of frequency.

4.) i have not studied the /es in depth. i've studied trading in depth and i'm trying to apply it to the /es. i'm interested in confluence with market breadth indicators, correlations with Macros (larry williams talks about not trading long in ES if ZN is below 20ema, etc), what causes correlations to change, which institutions hedge with es contracts, and which institutions invest with ES contracts, how HFT institutions affect the validity of orderflow trading, iceburg orders, etc. i've obviously studied enough to know that stuff exists, over years of listening, watching, and reading on my own. what i'm asking for is a little guidance in sifting through this deep ocean of information, and prioritizing it. i'm not asking for specific setups/systems. even if someone handed me that i'd be unable to be profitable if i couldn't manage my psychology.
 
Bugsy said:
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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the money isn't to make it worth it for them. its to give back to those that have given to me. i don't want something for free. that's where i'm coming from. i know this is a sensitive issue, i'm sorry if you were offended.

i think at least historically mentors are somewhat common tho, as far as the market wizards books go. most of those guys all learned with other ppl, be it on the floor, or seeking out Seykota/whoever. today tho, ya, it's certainly possible to teach yourself via google. its just as an newb, you don't know what you don't know, and you don't know how subjective so much of it is. if you read a Jim Brown forex book instead of a Van Tharp or an Aziz day trading book, you're gonna have a very hard time. There's a lot of conflicting information out there that will have you chasing your tail for a long time. i know, because i'm currently chasing my tail. lol.

here are some examples of trading platitudes, and i'm 100% sure youve read some of these as well:

price action is everything.
price action is subjective and no two ppl interpret it the same.

selling options is the only mathematically profitable strategy.
selling options is like picking up pennies on the railroad tracks.

Let your runners run.
only take 3:1 RR trades.

indicators remove emotion and tell you exactly what to do.
indiactors are price derivatives and inherently lag.

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its such a spammy world, and when you don't know truth, you don't know bullshit, inherently. that's what can get sped up in the process of mentoring/coaching. on top of that, all of these are true, and all of these are bullshit! haha. it just depends on the strategy and the personality type. so the mentor/coach is really there for helping you discern your plan, and for holding you accountable to your plan, whatever you decide it to be.
 
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