Mentor journal trades entries posted live

Onra said:
Wrong!
Here's a screenshot from our private thread; that's a demo!

You're assuming that it's the first account of the list; it isn't.

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lol ur right, of course... he's trading 1000 units. 0.01 lots. He may as well be on demo.


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wrbtrader said:
You can only post trades in the future instantaneously via posting the trades before the fact...before they occur.
  • For example, if AUSUSD drops to 1.61345 and my setup shows up...I will buy.
The above is a before the fact signal call. It is not mentoring and it does not verify the trade actually occurred with real money until screenshots of the trade in the broker trade execution platform.

Also, mentoring involves much more than posting trades. It involves sitting side by side with the trader, trader watches you trade with real money from your account, you then coach the trader thru their trades while you watch.

If you're just posting trades and answering questions or talking about the trade after the fact...its not mentoring. You're just sharing your trade method and thoughts about the trade. That's still good...better than most that post trades and then do not post verification of the trade.

Mentoring (coaching) can not be done online successfully between mentor / student. What that means is that the student chance of duplicating how the mentor trades and thinks from trade to trade will most likely fail or be something different especially if they are not trading the same trading instrument, at the same time, same broker and so on.

Why ?

There's too much difference in the cognitive decision making process (cognitive biases) involving the behaviour finance and behavioural trading for traders. These are also the same reasons why trades can not be replicated / mimic / copy even if they were live streamed...there's just too much junk up there between our ears.

https://www.google.com/search?client=firefox-b-d&q=Behaviour+Finance

https://www.sciencedirect.com/science/article/pii/S1364661316300997

https://www.alpharcubed.com/what-is-behavioural-trading/

https://www.verywellmind.com/what-is-a-cognitive-bias-2794963

Live Streaming

With that said, I have seen a few traders give a detail written outline of their trade methodology and then live stream their trading on Youtube Live, Discord, Twitch along with explaining their reasons for the trades and answering questions (in real-time) from one trade to the next trade. That's the closes I've seen involving real mentoring (coaching) versus sitting side by side with the trader in the trader's home environment.

There's then a video posted at the end of the trading session from start to finish for easy review. It seems to be much easier to do than to spend time marking up charts and then posting images online after the fact versus live streaming that involves sharing your screen live with those you're mentoring (coaching) and interacting with them live during the trade.

They can hear each other's voice and see each other's screen.

My point, if someone truly wants to mentor (coach) and do it right...they need to live stream the mentoring (coaching) session instead of posting messages at a discussion forum and trying to pretend they're mentoring (coaching) someone when all they're doing is verifying their trade performance after trades have executed in their broker trade execution platform.

The above is not a bad thing...padutrader is doing what most are not able to do...verify some of the trades assuming he shows all the trades executed in the trade fill window at the end of the trading day as a summary for the screenshots of individual trades.

Yet, if someone states that mentoring (coaching) can be done online without live streaming...

Go find a student that's able to verify that his/her trades occurred during the mentoring/coaching by some mentor along with the student posting screenshots of their own trade performance...more convincing if its all live streamed and recorded.

Seriously, if someone truly wants to mentor (coach) another trader...its gotta be live streamed in a two way environment. That means the student can see the mentor's screen and the mentor can see the student's screen from trade to trade while interacting with each other.
  • Verification of trade performance and the merits of the trade method that must be ongoing and typically would last many months in different market conditions.
  • Live stream (its free) on Youtube Live, Discord, Twitch with interaction between mentor / student in which the mentor can see the student's screen too...two way.
Without the live streaming...you're just sharing your trade method especially if you're answering questions about the trades. That in itself is still a good thing but just do not call it mentoring.

wrbtrader
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Great write up wrbtrader, I agree with you.

I will charm in here with my expereince in hopes it helps others reading this as it relates to mentoring and the oppurtnuites to be coached.

padu is good person. He don't mean no harm. He just want to share what he knows to other fellow traders, in hopes it motivates others. He does better than some traders I see here, they don't post anything.

About 3-4 years ago, in my never-ending search to find some holy grail crap and training. I was referred to a day trading professional. He traded in the Netherlands.

This guy was serious. He had about 100 hours of of live video (showing his actual Ninja Trader account per trade) trading about 10-20 contracts on ES and Crude oil. Yes, he showed all his broker account and that good stuff, via Live skype. He was older guy, about 70 I believe. He just wanted to give back to the trading industry, but her required a personal interview with trader before he coach you. He wanted to know your background, education level, etc etc.

He also, demanded you watch him trade.He was BIG on watching him trade LIVE. Lol, actually while I talke to him, he was trading live account. And he demanded watching me trade for 1 - 2 weeks live. He demanded you trade sim for months. He had alot of demands. And before he granted access to those 100 hours of live trades he personally recorded, you had to prove to him via showing him my sim account balance increasing after watching the theory of how he trades and market reading and study. He had lots of demands. He would have weekly live meetings. He really didn't like playing around. He did say, he prefer to meet in person, but I live in USA.

Unfortuantly I was too ignorant to realize the help he offered at the time, thinking I would find something better and also did not have $8000 he demanded for his mentorship program. He said, if I pay $8000, then he knew I was serious and worthy of mentoring. Oh well. Just thought I would share. Also, there is another ET member (i want share his name) who help me by proving to me day trader is possible for about 1 months showing me his daily broker account as he trades a few years ago. So for those day trader wondering if it is possible. IT IS, keep grinding!!
 
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PoopyDeek said:
lol ur right, of course... he's trading 1000 units. 0.01 lots. He may as well be on demo.


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PoopyDeek,

I must be naive...never knew one can trade Forex in 0.01 lots. I thought the lowest positions size was 1 lot. Yet, commissions must be the same as if one traded 1 lot ?

Then again, the other day I didn't realize that a futures trading instrument can trade in negative territory until I saw Light Crude Oil CL futures trade below zero dollars...

It went below -37 dollars.

wrbtrader
 
SimpleMeLike said:
Great write up wrbtrader, I agree with you.

I will charm in here with my expereince in hopes it helps others reading this as it relates to mentoring and the oppurtnuites to be coached.

padu is good person. He don't mean no harm. He just want to share what he knows to other fellow traders, in hopes it motivates others. He does better than some traders I see here, they don't post anything.

About 3-4 years ago, in my never-ending search to find some holy grail crap and training. I was referred to a day trading professional. He traded in the Netherlands.

This guy was serious. He had about 100 hours of of live video (showing his actual Ninja Trader account per trade) trading about 10-20 contracts on ES and Crude oil. Yes, he showed all his broker account and that good stuff, via Live skype. He was older guy, about 70 I believe. He just wanted to give back to the trading industry, but her required a personal interview with trader before he coach you. He wanted to know your background, education level, etc etc.

He also, demanded you watch him trade.He was BIG on watching him trade LIVE. Lol, actually while I talke to him, he was trading live account. And he demanded watching me trade for 1 - 2 weeks live. He demanded you trade sim for months. He had alot of demands. And before he granted access to those 100 hours of live trades he personally recorded, you had to prove to him via showing him my sim account balance increasing after watching the theory of how he trades and market reading and study. He had lots of demands. He would have weekly live meetings. He really didn't like playing around. He did say, he prefer to meet in person, but I live in USA.

Unfortuantly I was too ignorant to realize the help he offered at the time, thinking I would find something better and also did not have $8000 he demanded for his mentorship program. He said, if I pay $8000, then he knew I was serious and worthy of mentoring. Oh well. Just thought I would share. Also, there is another ET member (i want share his name) who help me by proving to me day trader is possible for about 1 months showing me his daily broker account as he trades a few years ago. So for those day trader wondering if it is possible. IT IS, keep grinding!!
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why pay 8 large if you can watch padu trade live here for free?
 
snowman80 said:
why pay 8 large if you can watch padu trade live here for free?
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snowman80,

I thought just like you 4 years ago trying to get stuff for free. And I regret it, and I made no money trading. I wasted about 4 years trying to trade my own way. Now I pay for quality trading training.
 
wrbtrader said:
PoopyDeek,

I must be naive...never knew one can trade Forex in 0.01 lots. I thought the lowest positions size was 1 lot. Yet, commissions must be the same as if one traded 1 lot ?

Then again, the other day I didn't realize that a futures trading instrument can trade in negative territory until I saw Light Crude Oil CL futures trade below zero dollars...

It went below -37 dollars.

wrbtrader
More...


Most of these bucket shops default to 10K units. They want you to reload a couple times. One lots = bust in the first week. Oanda allows for 1 unit trading.
 
SimpleMeLike said:
snowman80,

I thought just like you 4 years ago trying to get stuff for free. And I regret it, and I made no money trading. I wasted about 4 years trying to trade my own way. Now I pay for quality trading training.
More...

you seem like a nice guy. i hope it works out for you.
 
SimpleMeLike said:
snowman80,

I thought just like you 4 years ago trying to get stuff for free. And I regret it, and I made no money trading. I wasted about 4 years trying to trade my own way. Now I pay for quality trading training.
More...
You might regret it even more if you paid your $8000 and flew to Europe to trade with him.

In life, you made your call and move on, never look back.
 
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