See that's the thing...all that mentor stuff I would never go for. I think it's such Bull. I have learned that too many people overcomplicate trading. It really is very simple...people need to work on controlling their emotions...not just for 5 minutes...no...that's one of the if not main points. So I want to offer a no BS service....no flashy site...no fancy videos...no, "I've made my friends rich, now let me show you how I an do the same for you (insert phony smile)"
Let's try this again...
- Thread starter michael21
- Start date
You contradict yourself (or maybe your alter ego of LuckyPutanski contradicted Michael21?). You say that newbie traders can't be successful yet you think you have a plan that will make them so and that you will somehow share in these profits? All the psychological traps in trading will just melt away when confronted with the genius of your course? Your approach will be so in line with everyones different objectives that they will all follow it to a 'T' and no one will try to change it? Even if your strategy is successful, don't expect it to be that way for newbies. They will find a way to mess it up.
If you think your business model is such genius, why are you asking strangers on a forum for advise about it? And if you've been such a successful trader, why should you care about newbie accounts. You should be able to live off the interest from your earnings. And if you're not such a successful trader, then shame on you for trying to push garbage onto struggling newbies.
Once and for all: I'm LuckyPutanski, nothing to do with Michael21. At the moment I'm looking for other ways to capitalize on what I've learnt so far. Teaching others seems like an obvious choice, and I can benefit from that as well. Trading my own capital is working great, but I have too little capital to make decent living out of profits.
If you have a verifiable track record, the world is your oyster, more capital than you can dream WILL come to your door.
That is the god's honest truth, mate.
That's brilliant. Would you be as kind as to answer some more questions:
1. How many years track record I need?
2. What size I need to trade to be treated seriously?
3. What type of annual return / max draw down is attractive enough?
Thanks
L
For the market you're after, it's not about "max drawdown". Everybody has significant drawdowns from time to time. It's about being able to explain how/why/under what circumstances/etc drawdowns happen. And equally importantly, how profits happen.
You'll not only have to know what you're doing, you'll have to be able to explain it.
You can start hitting the pavement at six months of genuinely verifiable (ie, trade by trade, position by position). The first few meetings/pitches will almost certainly feel like a disaster. Treat them as learning experiences, and internalize the subtext of everything they say, whether it is "right" or not (there are many definitions of "right" in this business).
You'll not only have to know what you're doing, you'll have to be able to explain it.
You can start hitting the pavement at six months of genuinely verifiable (ie, trade by trade, position by position). The first few meetings/pitches will almost certainly feel like a disaster. Treat them as learning experiences, and internalize the subtext of everything they say, whether it is "right" or not (there are many definitions of "right" in this business).
Six months? That's certainly too short period of time for me. I'm a long term trend follower. So let's twist the question: how many close transaction I need?
Thanks
There's no magic number. For that kind of approach, "enough" to cover more than one type of market environment. Be sure you can explain performance/behavior under different market regimes.
If you're a long termer, and have been doing this long term, it sounds like you're in a place to start talking to people (assuming verifiability, etc). If you're a long termer but haven't been doing it long term, then you're going have a tough slog of it.
There is no substitute for talking to people.
If you're a long termer, and have been doing this long term, it sounds like you're in a place to start talking to people (assuming verifiability, etc). If you're a long termer but haven't been doing it long term, then you're going have a tough slog of it.
There is no substitute for talking to people.
Quote from Random.Capital:
There's no magic number. For that kind of approach, "enough" to cover more than one type of market environment. Be sure you can explain performance/behavior under different market regimes.
If you're a long termer, and have been doing this long term, it sounds like you're in a place to start talking to people (assuming verifiability, etc). If you're a long termer but haven't been doing it long term, then you're going have a tough slog of it.
There is no substitute for talking to people.
Well. I started trading around september '08. I've made money during financial crisis, I've made money during "recovery", and I've made money during recent crash. What sort of money I need to be trading to taken seriously?