Looking for mentor/chat
- Thread starter bigbrent701
- Start date
It's unlikely you'll find a mentor here, or anyplace else for that matter. I won't offer an opinion of what a mentor really is because I'm sure that would start another flame war which serves no purpose.
I can tell you there IS some very useful stuff here at ET. I would suggest you start reading through the Journals. There is alot of crap to wade through, but some of these people are very specific about their methods. See if one of those methods suits your eye and walk in slowly after that.
Don't give up on your aspirations of learning to trade. If you have a passion for it, it'll come, but it'll be a slow go. I've been trading for nearly 7 years and have just come to realize how ignorant I am about some real basic stuff.
Good luck and don't let the bastards get you down.
I can tell you there IS some very useful stuff here at ET. I would suggest you start reading through the Journals. There is alot of crap to wade through, but some of these people are very specific about their methods. See if one of those methods suits your eye and walk in slowly after that.
Don't give up on your aspirations of learning to trade. If you have a passion for it, it'll come, but it'll be a slow go. I've been trading for nearly 7 years and have just come to realize how ignorant I am about some real basic stuff.
Good luck and don't let the bastards get you down.
The greatest mentor(s) bar none are is free:
1) The markets
2) The truth
The first requires no money since you can learn a great deal from simulations and models, but then you better have the mind of a scientist, or even just a keen mind without any particular skill and or training.
The second requires no money, but then you better be prepared for the journey of hard work.
I may be wrong about this, but imo in today's fast changing markets, if you don't at least have those two as your primary mentors, you are already on a path that will eventually lead you back to where you are now.
nitro
I never said that there were. I am not looking for a get rich quick scheme in the markets i realize it takes years to learn. I am looking for someone to take me under there wing that i can simply talk to on a regular basis about my trades. I am not looking to be spoon fed anything.
I did read the thread and in a PM to him i sent i said something along the lines of I do not have any skills or years of experience in anything. Unless i am missing a something below the surface here i have nothing to give my mentor in terms of monetary compensation or teaching them a unique skill. I will have to think about this more of what i have to offer as a person to my would be mentor.
I am not stupid. There is absolutely no way that someone could PM me that. I am looking for something LONG TERM not a single PM with their beliefs of how the market works.
I was lucky enough to be mentored by one of the big names in the game . . .
Suprisingly enough I learned most everything I do now, on my own.
Don't get me wrong. My mentor pointed me in the right direction. Mentors really provide an example of how to deal with sucess. They're more of a role model. They provide inspiration. If you need answers to certain questions, mentors are not the way to go. Mentoring is like a love relationship, you don't want to drive it into the ground.
So what did I do? First I'd get the Series 7 test books. Study for the test.
If you want to be good at trading, make it a full-time job. Find a shop willing to sponsor you for the test.
Second make sure you know Excel backwards and forwards. I personally know more traders that program and are sucessful than guys who don't and are winners. Find a language you feel comfortable with. If you can't program, or can't take a class or two at a JC, don't have time whateva, no big deal. You may be able to make it up.
Third, start buying all the books on trading that you can. Start with Jack Schwager or pick up When Genius Failed or Liar's Poker. Then get into the more technical stuff.
A lot of trading has to do with your mindset and approach. Fourth I'd develop a step by step strategy you'd like to trade. Take something you thought of on your own or something you read. Find the broker, set up your computer and everything weeks ahead.
After that you should be ready to go.
Suprisingly enough I learned most everything I do now, on my own.
Don't get me wrong. My mentor pointed me in the right direction. Mentors really provide an example of how to deal with sucess. They're more of a role model. They provide inspiration. If you need answers to certain questions, mentors are not the way to go. Mentoring is like a love relationship, you don't want to drive it into the ground.
So what did I do? First I'd get the Series 7 test books. Study for the test.
If you want to be good at trading, make it a full-time job. Find a shop willing to sponsor you for the test.
Second make sure you know Excel backwards and forwards. I personally know more traders that program and are sucessful than guys who don't and are winners. Find a language you feel comfortable with. If you can't program, or can't take a class or two at a JC, don't have time whateva, no big deal. You may be able to make it up.
Third, start buying all the books on trading that you can. Start with Jack Schwager or pick up When Genius Failed or Liar's Poker. Then get into the more technical stuff.
A lot of trading has to do with your mindset and approach. Fourth I'd develop a step by step strategy you'd like to trade. Take something you thought of on your own or something you read. Find the broker, set up your computer and everything weeks ahead.
After that you should be ready to go.
Thank you for your helpful advice, part of the reason I want a mentor is to DISECT what i have read and to APPLY it to the markets. I wouldnt be typing this message right now if it werent for Jack Schwage his books were my single biggest influence to get into trading.
I feel that im at a plateau and thats why i am seeking a mentor, I believe i have the fundamentals and traits necessary to be a good trader now its a matter of putting them together.
About the programming, I am very interested in this however at the university of maryland they basically require you to have Calc 2 to take even the most basic programming class. Thats maryland way of weening students out of the university making Calc 2 a prereq.... its unfortunate. Eventually i would like to get into the programming side once i feel i have a sound method. Right now im not sure if my method is sound or not I have to be able to define my method to a computer to test it.
I feel that im at a plateau and thats why i am seeking a mentor, I believe i have the fundamentals and traits necessary to be a good trader now its a matter of putting them together.
About the programming, I am very interested in this however at the university of maryland they basically require you to have Calc 2 to take even the most basic programming class. Thats maryland way of weening students out of the university making Calc 2 a prereq.... its unfortunate. Eventually i would like to get into the programming side once i feel i have a sound method. Right now im not sure if my method is sound or not I have to be able to define my method to a computer to test it.
What books have you read already?
Have you traded anything at all?
You can go to www.ensignsoftware.com and download the software for free and start simulated trading today. Practice to find a method. Simulated trading will not help you with your emotions though.
Also you can go to www.dacharts.com more stuff.
Your goal is to recognize that you have normal emotions. Unfortunately, your normal emotions will have to be reprogrammed. This will take time. You will also need to learn how to read the supply and demand on charts. This will take time, possibly up to 5 years if you have no experience at all.
Learn how to do one thing at a time well. Learn to think for yourself and act independently.
Have you traded anything at all?
You can go to www.ensignsoftware.com and download the software for free and start simulated trading today. Practice to find a method. Simulated trading will not help you with your emotions though.
Also you can go to www.dacharts.com more stuff.
Your goal is to recognize that you have normal emotions. Unfortunately, your normal emotions will have to be reprogrammed. This will take time. You will also need to learn how to read the supply and demand on charts. This will take time, possibly up to 5 years if you have no experience at all.
Learn how to do one thing at a time well. Learn to think for yourself and act independently.
I have read....
Market Wizards
New Market Wizards
Stock Market Wizards
Trade your way to financial freedom
trade your way to financial freedom through electronic day trading
Safe Strategies for financial freedom
the option advisor
Reminesces of a stock operator
Yes I have traded for real before, this summer is impossible with my job to trade as I leave the house at 6:30 in the morning and i do not get home till 5. I paper traded basically using that end of day style with great results however I want to expand my approach to short term trading. I have have great sucess at long term position trading.