mentor or system

[contra]

he also didn’t like that she was outed for pretending to be a man.

She also was a racist pro-nazi sympathizer.

lol damn, how could I forget!

edit: I actually didn't know about the pro-nazi sympathizer part, pretty messed up.

 

[poopy]

He used to send me PMs referring to dest's everything journal that only pikers clear IBKR... then he's trading 1/2 lot spot in IDEALPRO.

 

[newwurldmn]

He used to send me PMs referring to dest's everything journal that only pikers clear IBKR... then he's trading 1/2 lot spot in IDEALPRO.

She claimed he was trading billions in FX and then asked a rudimentary interest rate question about interest rates in IB.

 

[poopy]

She claimed he was trading billions in FX and then asked a rudimentary interest rate question about interest rates in IB.

She sent me a screenshot with PNL redacted but missed one FX line item which IIRC was a 250K EURUSD long. $300K exposure (at the time) on 8-figure net liq? Uh huh.

 

[ironchef]

M.W., this last comment really made me pause and think.

I occasionally view presentations at Traders Conferences and usually find the ones employing technical analysis to be interesting to watch. As I understand it, each presenter is selling a service of some kind such as direct mentoring/coaching, video trading courses, books on trading, a buy-and-sell signal service, etc. I haven't bought any of the offered materials or courses, but have enjoyed the TA discussions.

I have never seen a presenter mention in their talk that they are a profitable trader and that data/evidence/documentation is available to demonstrate it. They frequently talk about the fact that they have been involved in the markets for decades and are very experienced, but don't state specifically that they make money trading every year or even in most years. (apologies to any presenters who may have done this and I didn't see it)

In the past some posters on ET have suggested that there are legal reasons for a trading instructor to avoid stating clearly that they trade their own accounts and are profitable and that evidence of it can be made available.
This doesn't sound right, though, as it seems more likely that the legal restrictions are focused on not guaranteeing that students will be profitable and generally not being deceptive in their sales pitches.

I would note that one trading book I've read that did this was by Stanley Kroll, where he opened the book by showing broker's statements demonstrating that he trades and is profitable.

So, back to M.W.'s comment: a new traders conference was held this past week that had several presentations each day for five days. A list of the first three days' speakers is attached below. Some of them have been around a long time and are quite well known.

If any of these individuals is a profitable trader of their own account(s), it would be logical and helpful for recruiting new students to state this explicitly and provide access to evidence that it's true (while making sure to follow all applicable laws regarding revelation of such matters).

"Certainly nobody would hide a positive track record if they had one."
If none of the potential mentors indicate that they have a positive track record, is it possible that this really is an indication that they do not trade profitably...
or are the meticulous legal scholars correct that there are reasons why they don't mention this...

View attachment 341006

I scanned your list, everyone, except Larry McMillan, has a sure-fire way to make money trading!

 

[Handle123]

I'm currently debating if I should invest in mentors and processes. Mentors are prohibitively expensive, yet if they are effective, why not? Systems are great, but when they fail, you're on your own. So, what are your thoughts? Is there a mentor or system that you would recommend? or any video tutorial. What is the greatest site for reviewing forex products?

I paid some nationally known traders and some unknown, bottom line, it was long process to learn "the game". I have bought many systems first 20 years, but until you get to be expert level, you never know when to alter systems or how.

I am mentoring very last student, he is finally turning the corner after four years. I had said times in past that trading wasn't for him, but cause he wouldn't quit, I didn't either. 99% of his woes been mental. All the changes I offered first year, he refused to do, so after four years, he changed to include changes and now profitable weeks.

Lots of teachers who churn, meaning they looking for quantity of students instead of taking just one.

Find someone who trades for fun, meaning if they quit trading, they are set for life. But since it is so rewarding and much easier and automated, why not.

John Hill's books my favorite.

 

[SimpleMeLike]

He was a lying POS piker if you ask me... was called out and refused to prove it. But yeah, I hope he's enjoying it.

Good Evening contra,

Wow,...., talking and proving is two things that does not occur in the trading industry, only sports.

 

[eleanorK80]

When I started trading I aske this question from too many traders who were professional and all the time I received the answer no mentor is needed.

 

[ironchef]

When I started trading I aske this question from too many traders who were professional and all the time I received the answer no mentor is needed.

I agree. But read and study a few trading books would be helpful.

For example, I bought and studied Larry McMillan's book on Options As A Strategic Investment. It was very helpful to get me started and developed my options methodology.

 

[Lee-me]

I paid some nationally known traders and some unknown, bottom line, it was long process to learn "the game". I have bought many systems first 20 years, but until you get to be expert level, you never know when to alter systems or how.

I am mentoring very last student, he is finally turning the corner after four years. I had said times in past that trading wasn't for him, but cause he wouldn't quit, I didn't either. 99% of his woes been mental. All the changes I offered first year, he refused to do, so after four years, he changed to include changes and now profitable weeks.

Lots of teachers who churn, meaning they looking for quantity of students instead of taking just one.

Find someone who trades for fun, meaning if they quit trading, they are set for life. But since it is so rewarding and much easier and automated, why not.

John Hill's books my favorite.

Appreciate sharing this. I think working with a mentor who puts all his/her time just for you can be very good for a trader, but for the instructor I am not sure that is worthwhile, he/she can be working with hundreds of people instead of just one and make a ton more money. Finding someone like that will not be easy, that student must be very lucky and special.