Identifying the trend and the use of entry signals is something you can learn for the price of books and seminars particularly in conjunction with using a "training mode" on your software.
Most of us can feel comfortable with this part. It is simple learning.
A trade plan is (strategy) also necessary for CONSISTENT profits. My troubles have come from not bothering to develop trade management strategies. Without a plan, once in the trade the emotions often have taken over. These were the small losses.
A trade plan does need to include a money management plan. Overtrading... This is where I have lost the big money.
Who could have helped me sooner than I have helped myself? Only someone to whom I provided the nitty gritty of how I went about things. Someone who would have the information to educate me about how the losing trades could possibly have been more limited in draw down or possibly even successful.
If I don't trust myself as a trader, why would I trust a "mentor" ? I would want a mentor to know my plan, the basis for my plan, a couple of options within the plan, and my money management guidelines. But, if I go through the work of doing all this preparation, why would I pay the mentor? Only to be an outside force keeping me cool in the heat of battle, focused on the plan, etc. Handholding. There is a place for that, but it is not through high commissions to a broker, or $25 to a guru. That should be a reasonalbe hourly or daily rate, I think.
Most of us can feel comfortable with this part. It is simple learning.
A trade plan is (strategy) also necessary for CONSISTENT profits. My troubles have come from not bothering to develop trade management strategies. Without a plan, once in the trade the emotions often have taken over. These were the small losses.
A trade plan does need to include a money management plan. Overtrading... This is where I have lost the big money.
Who could have helped me sooner than I have helped myself? Only someone to whom I provided the nitty gritty of how I went about things. Someone who would have the information to educate me about how the losing trades could possibly have been more limited in draw down or possibly even successful.
If I don't trust myself as a trader, why would I trust a "mentor" ? I would want a mentor to know my plan, the basis for my plan, a couple of options within the plan, and my money management guidelines. But, if I go through the work of doing all this preparation, why would I pay the mentor? Only to be an outside force keeping me cool in the heat of battle, focused on the plan, etc. Handholding. There is a place for that, but it is not through high commissions to a broker, or $25 to a guru. That should be a reasonalbe hourly or daily rate, I think.
