Mentor

[deaddog]

That's kind of contradictory, what data shows that most have some sort of mentoring?

 

[Windlesham1]

There's no data but there would be no mentoring if trading was simple. However in my opinion 95% of people are not suited to trading, as they cannot get a handle on risk. A mentor would figure this out in a heartbeat and save 90% of the people here a lot of heartache!

 

[deaddog]

There's no data but there would be no mentoring if trading was simple. However in my opinion 95% of people are not suited to trading, as they cannot get a handle on risk. A mentor would figure this out in a heartbeat and save 90% of the people here a lot of heartache!

It is too bad there is no data but I guess that of the 5% who are successful the majority figured it out on their own.

From what I gather here on ET there aren't too many that were mentored.

I agree that a good percentage are not suited to trading but I believe that also applies to any endeavour where you have to take responsibility for your own actions, like running a small business.

 

[silvercoin]

I have a book written by 17 successful traders -they are all discretionary and all learned the hard way. However most traders have had some sort of mentoring. Check out John Carter on Youtube -he's 100% the real deal

What book?

 

[silvercoin]

no mentoring for me.

But I spent a lot on trading coaches.
Unfortunately I had to spend many years to decontaminate my mind due to those wrong teachings. most trading coaches are unsuccessful hopeless useless traders.

I spent lots of resources to develop my own holy grail.
It cost me arms and legs.

Could you give some concrete examples of the contamination. Erroneous ideas taught by those trading coaches you mentioned. I am not asking for names of the coaches just erroneous ideas and concepts that contaminated your mind.

 

[ironchef]

There's no data but there would be no mentoring if trading was simple. However in my opinion 95% of people are not suited to trading, as they cannot get a handle on risk. A mentor would figure this out in a heartbeat and save 90% of the people here a lot of heartache!

If you pay me to mentor and if I am in the mentoring business, why would I tell 90% of my mentees to quit and losing my businesses?

 

[newwurldmn]

Be careful out there, and always do your due diligence on anyone who charges to be a "Mentor". I exposed a major conman here. Someone who claimed to be managing, and trading 100's of billions of dollars. He was able to completely FOOL the CME, and Interactive Brokers!!!
https://www.elitetrader.com/et/threads/tim-morge-and-the-well-chosen-example.305061/page-23

About a year later, he dismissed his "partner", later relabeled an "employee", of 20+ years, Shane Blankenship (a recent bankrupt), to pocket his fees. I then knew Timothy Morge was broke.

He is now trying every trick in the book to stay alive:
https://marketgeometry.com/blog/tim-draws

And the Pandemic was the final nail on this fraudster's coffin. No one is going to pay $500+ a month, for a confirmed liar. There is NO Queen Elizabeth, NO Fighter Jet flights from Arizona to London, NO MI6 protecting him, NO 100+ Billion dollar sovereign wealth hedge fund. It's all LIES

it would take ten seconds to out someone who manages 100 billion. There’s like 6 people in the world who have autonomy to do that.

 

[themickey]

You want a mentor; put your trading plan here on ET.
You'll get a lot of feedback.....

Ya, ET will shoot it full of holes

 

[deaddog]

Ya, ET will shoot it full of holes

Chances are it needs to be taken out and shot anyway.

Never really understood why posters were reluctant to share a plan that wasn't working. Afraid someone might steal it I guess.

 

[fractalize]

Stare at price moving every day all day for 3 months. Humans were designed to see patterns. You will get it. Buy low, sell high. Sell high, cover low. Everything else is just fluff.

You’re fluff