Looking for a mentor

Quote from sivachevy:

I understand with any new venture, you need to spend money in order to make money. Same thing with trading in my opinion. The form of money i will spend on textbooks and donations to forums like elitetrader will help me indefinitely. I am watching Alan Pring method videos and they are very comprehensive. I am learning a lot from it and was wondering if others also have as well?

Furthermore, is Farley's master swing trader an acceptable beginners book?

Thanks
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You have never told us what it is you want to trade?
 
Terribly sorry deaddog. Ultimately I want to start off swing trading and then as I build up more wealth and maybe in 10 years proceed to day trading. As of now, I would like to reaffirm my interest in swing trading.
 
Quote from sivachevy:

Terribly sorry deaddog. Ultimately I want to start off swing trading and then as I build up more wealth and maybe in 10 years proceed to day trading. As of now, I would like to reaffirm my interest in swing trading.
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I take it you are talking stocks?
Do you have a broker?
 
yes that is correct. first stocks then currency.

I currently am debating whether to use interactive brokers, or ninjatrader with mirus
 
what do you mean? I intend dont expect to make any real profits until I get a firm understanding and find my formula. Ultimately I understand there will be loss involved. But i am willing to try, and test until i find it.
 
I mean you are going into this exercise with certain expectations. After a period of learning you expect to make a profit.
How long do you think it will take you to learn?
What kind of profit do you see yourself making?
Where do you see yourself 1 year from now; 5 years from now; etc.
You don’t have to give answer these questions to me but you should give them to yourself. Then start asking how you will do this.

Same thing for a mentor. How do you expect a mentor to help you? Be specific. How can a mentor help. Do you want to look over someone’s shoulder? Do you expect someone to explain what they are doing. I seen traders that couldn’t explain what they were looking at, they just knew that they had seen it before and it worked most of the time.

There is a lot more to trading than just the entries and exits. There is a whole lot of getting to know your own strengths and weaknesses.
 
I see myself slowly progressing upward so that within 7-10 year time period I am consistently making profits of about 20% at least. Furthermore, I would love to have a mentor that would explain the patterns and explain what they think of the future pricings etc as opposed to me just looking over their shoulder. Maybe some explanations (without obviously giving their strategies away) would be a step in the right direction.
 
If you are that new, you may not even know the right questions to ask.

Why don't you start by reading Trading for a Living by Alexander Elder, it will give you a broad view of what trading entails.

Then read the Market Wizards series from which you will learn there are many ways to trade and many instruments to trade.

Then take it from there.
 
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