Mentorship (4th year still not profitable)

You assume that P/E itself is stationary. That is simply not true. Earnings change all the time. News affect companies all the time. Moreover, companies also move with the general market. how are you going to use P/e

It needn't be stationary. The mean is an average of the range from high to low. The PE of the S&P was 15 for more than a century, until 2000. Now it's closer to 25. Make of that what you will.

When the PE gets too far above the mean, professionals take profits or even short. When the PE drops below the mean, they buy. Basic market dynamics.
 
I am looking for a mentor to guide as well as teach day in day out. I will not and never give out your systems or strategies. I am willing to work 20 hours a day or do anything that helps me towards achieving profitability.
Thank you.

I believe that the school of hard knocks is best mentor you will ever have when it comes to trading. However, you need to adhere to three things in order to survive its painful lessons and be able to reach the other side of the learning curve without being knocked out of the trading business.
1) Trade small> trade management
2) Discipline > self-control> patience > wait for the right entry point
3) Keep a journal> write down why you took the trade and what can be done better to improve the outcome.

Good luck
 
A little background: I've traded/studied the technical part of trading (FX/Commodities) for almost 4 years every single day, testing out new ideas, analyzing, logging down, backtesting etc however hundreds of system and patterns that I come out with just stop working. It might work for 3-5 years on backtesting, if I put it onto another pair it stops. Or it might only work for a certain period of time. I am from the little red dot.

I am looking for a mentor to guide as well as teach day in day out. I will not and never give out your systems or strategies. I am willing to work 20 hours a day or do anything that helps me towards achieving profitability. I am willing and desperate to sacrifice anything in return for trading success (Even my life). Flying over to your country to learn is also fine with me. I do not know what I can give in return but I hope my willingness to succeed can make up for it because I will never give up.

So if anyone that has already succeeded and looking for a student to impart your knowledge, please do tell me, I may not be the brightest but I will make it up with hard work, I will make sure it will be a good decision and you will never regret it.

Thank you.

wtf? you are willing to give up your life for trading success? lol. My advice would be to continue a career/profession/business or learn a new career/profession/business whilst you swing trade using end of day data. I would not put your life on hold for trading as it may never happen.

in terms of strategies i would forget everything you know, strip everything back and try and formulate a strategy which is solely based on a simple concept. For example monthly/weekly/daily open/close/low high levels. If an instrument cannot hold above its weekly open is there an opportunity to enter get short and minimise your risk?
 
A little background: I've traded/studied the technical part of trading (FX/Commodities) for almost 4 years every single day, testing out new ideas, analyzing, logging down, backtesting etc however hundreds of system and patterns that I come out with just stop working. It might work for 3-5 years on backtesting, if I put it onto another pair it stops. Or it might only work for a certain period of time. I am from the little red dot.

I am looking for a mentor to guide as well as teach day in day out. I will not and never give out your systems or strategies. I am willing to work 20 hours a day or do anything that helps me towards achieving profitability. I am willing and desperate to sacrifice anything in return for trading success (Even my life). Flying over to your country to learn is also fine with me. I do not know what I can give in return but I hope my willingness to succeed can make up for it because I will never give up.

So if anyone that has already succeeded and looking for a student to impart your knowledge, please do tell me, I may not be the brightest but I will make it up with hard work, I will make sure it will be a good decision and you will never regret it.

Thank you.

If you are going to stay on this path:

You are smart to try and find a winning trader who will mentor you asap.

And yes.. developing a personal relationship is best. Most people will never be able to do this, but doing this should be your goal.

Go to bed thinking of ways to achieve this goal.

Cavaet:

Most Gurus-for-hire; well you know... I don't need to use words like "posers, hustlers, liars, scammers, thieves".
 
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A little background: I've traded/studied the technical part of trading for almost 4 years every single day
testing out new ideas, analyzing, logging down, backtesting etc however hundreds of system and patterns that I come out with just stop working

I am looking for a mentor to guide as well as teach day in day out

I will make sure it will be a good decision and you will never regret it

Trading is sometimes just a relatively simple matter of changing your mindset and outlook and collective approach;

Don't look at trading like a fun video game, and/or a random casino game. -- Look at it like a war zone, and you're the General...leading your troops, or money, into the battlefield.

Would you take a random, whimsical chance or guess where to put your man's lives at stake...of course not, you would plan and consider every triggering detail and dynamic variable to the best of your knowledge. Same thing with trading.

I could tell you more about my exact, specific approach...But I would have to kill you afterwards.
 
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A little background: I've traded/studied the technical part of trading (FX/Commodities) for almost 4 years every single day, testing out new ideas, analyzing, logging down, backtesting etc however hundreds of system and patterns that I come out with just stop working. It might work for 3-5 years on backtesting, if I put it onto another pair it stops. Or it might only work for a certain period of time. I am from the little red dot.

You'll find many successful traders say it's taken them well over a decade to the achieve their desired results. You should already know this if you were doing actual due diligence and research on this field and performance results.

I am looking for a mentor to guide as well as teach day in day out.

I'm sure all of us would have LOVED to have a successful mentor to help show the way. The reality is they have ZERO reason to spend their time helping you, when they have already paid their dues in years of toiling for a working method.


I will not and never give out your systems or strategies.

Are you listening to yourself? :confused: Why on Earth would anyone trust a stranger on the net with information gained only by blood, sweat, and many tears? Anyone being given any special info would be all the more likely to spill the beans since they didn't have to go through the time and pain of developing it.

I am willing to work 20 hours a day or do anything that helps me towards achieving profitability.

That means nothing to a successful trader who has already put in the work- it's assumed you already are putting in crazy hours to learn.

I am willing and desperate to sacrifice anything in return for trading success (Even my life). Flying over to your country to learn is also fine with me. I do not know what I can give in return but I hope my willingness to succeed can make up for it because I will never give up.
So if anyone that has already succeeded and looking for a student to impart your knowledge, please do tell me, I may not be the brightest but I will make it up with hard work, I will make sure it will be a good decision and you will never regret it.

Thank you.


A key aspect of those who succeed is having persistence- sticking with learning regardless of the number of failures experienced. You are basically throwing in the towel and pleading for help - that's a bad sign.

Sacrificing your life? :confused: Again are you listening to what you're saying- what good is learning how to trade if it comes at the cost of your life? That reeks of emotional desperation. Trading is not for everyone and at some point you either succeed, or move on to greener fields.

You haven't even considered what you would give in return. Willingness to succeed? That would barely work in a real job interview. If it took you 15 long years to figure out how to trade, what could someone offer you to have you spend time as a tutor teaching them and potentially compromising your own system?

The key is figuring out a "generic" system that can be tailored for the current market that can deal with market changes- not some "holy grail" static system that aces all back testing. You need to have leaps of intuition and I think some luck with careful observation to spot recurring natural patterns of support and resistance that you can form your system around.

Look at the stats- over 90% of those who try don't succeed. Either you can beat the odds and make it on your own, or if lucky, you have a relative/friend who might assist in guiding you. You can't expect a stranger to help teach you what cost them so much of their own personal sacrifice.
 
You are ready to find your way. You know you don't know. Humility is KEY.
This is the first step for successful trading.

CM
:thumbsup::thumbsup::thumbsup:. Well said.

No need to come here to show off or beat up on others?

the markets cares not whether you are humble or prideful or even arrogant.

So...find an edge and work that over and over. It is a process. Focus on the process not the money. Let your SL's be your capital preservation as you find, discover, implement, adapt your edges.

Market doesn't care but it is hard to improve if you think you already know it all, prideful, arrogant, and won't take advice....

But I agree with the second statement.
 
A little background: I've traded/studied the technical part of trading (FX/Commodities) for almost 4 years every single day, testing out new ideas, analyzing, logging down, backtesting etc however hundreds of system and patterns that I come out with just stop working. It might work for 3-5 years on backtesting, if I put it onto another pair it stops. Or it might only work for a certain period of time. I am from the little red dot.

I am looking for a mentor to guide as well as teach day in day out. I will not and never give out your systems or strategies. I am willing to work 20 hours a day or do anything that helps me towards achieving profitability. I am willing and desperate to sacrifice anything in return for trading success (Even my life). Flying over to your country to learn is also fine with me. I do not know what I can give in return but I hope my willingness to succeed can make up for it because I will never give up.

So if anyone that has already succeeded and looking for a student to impart your knowledge, please do tell me, I may not be the brightest but I will make it up with hard work, I will make sure it will be a good decision and you will never regret it.

Thank you.
You don't need mentors. Do the following (yes, it is unconventional):

You need to get back to basic first, even if you are a technical trader. If you trade commodities, perhaps you need to know your commodities, their seasonality, what affects their prices...., then you are ready to use the technical tools. If you trade FX, perhaps study the politics, central banks... then apply the technical.

Read trading books, do research but don't follow their recipes, they won't work. Get off the beaten path and you will likely do better.:D

Good luck.
 
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