Mentorship (4th year still not profitable)

[777]

Reading algos in the order book and trading off the back of them, trading correlations between markets, calendar spreads, paying a lot of money for news services and trading off the back of central bank comments etc, investing in algorithmic execution technology... and a lot of averaging to be honest.

How can one study and aquire this skill?

 

[tommo]

How can one study and aquire this skill?

There are a few courses that teach it, thedaytradingmentor.com nobsdaytrading.com also AXIA futures a prop firm in London have some youtube vids.

But ultimately there is nothing you can study and next week make money. Its a question of hours in front of the screen practicing and practicing i'm afraid. No shortcuts

 

[iamnewuser911]

Thank you all for taking your time to reply. Sorry for not replying earlier but I've every single post and truly appreciate it. I am talking to a few members.
I am beyond thankful that they help me knowing I can give nothing in return and only become their competition (which I hope to!).

I have sent a few prop firms e-mails and will continue to learn as suggested, also picked up a few books, and lots ideas which I will test and study one by one. I will keep everyone posted on my journey and I will make it

Thank you all.

 

[777]

There are a few courses that teach it, thedaytradingmentor.com nobsdaytrading.com also AXIA futures a prop firm in London have some youtube vids.

But ultimately there is nothing you can study and next week make money. Its a question of hours in front of the screen practicing and practicing i'm afraid. No shortcuts

Absolutely!

Of course having a framework and correct ideas to think about helps many people, including myself. I will watch those videos.

Gary Kasoarov, Mohammed Ali, Ronda Rousey.. hey.. most of the greats in all fields. speak of putting in serrious work/ time, as well as having good coaching.

 

[Simples]

Down playing mentorship is hurtful if this fellow takes you to heart.

People who align themselves with successful mentors; well.. it should be obvious.

Most of the greats in all fields, sought out mentors and allies.

What most Did Not Do was try to figure it all out on their own... but there are exceptions.

Btw- it is hard for a longtime losing trader to get back to (winning) basics; obvious reasons.

A losing trader of four years who will not abandon his quest is looking for serrious and actionable advise.

With life in general and areas of gambling/speculation in particular:

Mentorship not only can be make or break for many, but it can also save years of time, lost opportunities and lost money, as well as helping one to become better than otherwise possible.

True, but it also depend on the student! I am of a particular complexity where mentors would simply give up, because I would anyways in time find my own path and not listen to sage advices - but I do pocket them all in my conscious subconscious, and do consider. Although do not have the capacity to try them all out!

Mentors/gurus are essential in life for meaningful progress. But we all have differences in how we function as teacher and student, so it is very non-linear what results come to be and how.

Regarding mentorship, it's more of a happening, than something that can be manufactured. Meaning in a deep mentoring relationship, there are qualities hard to replicate. So yes, while you can and should seek, there's no guarantees involved in any way how it'll turn out. What we hear of success stories and anecdotes, are hindsight and selection biased. Also please consider the fact that a mentoring relationship can be time-bound, it'll always have a definite ending, though we may or may not choose how that ending should be.

Beggars make poor students though.
Best bet would be to ask yourself: How do I function as mentor, and how can I progress in my mentoring? When you give, so shall you receive...

 

[Sprout]

True, but it also depend on the student! I am of a particular complexity where mentors would simply give up, because I would anyways in time find my own path and not listen to sage advices - but I do pocket them all in my conscious subconscious, and do consider, although do not have the capacity to try them all out!

Mentors/gurus are essential in life for meaningful progress. But we all have differences in how we function as teacher and student, so it is very non-linear what results come to be and how.

Regarding mentorship, it's more of a happening, than something that can be manufactured. Meaning in a deep mentoring relationship, there are qualities hard to replicate. So yes, while you can and should seek, there's no guarantees involved in any way how it'll turn out. What we hear of success stories and anecdotes, are hindsight and selection biased.

Beggars make poor students though.
Best bet would be to ask yourself: How do I function as mentor, and how can I progress in my mentoring? When you give, so shall you receive...

Well said. The last paragraph describes the difference that makes the difference!

The energetic quality of abundance is distinct from that of scarcity. It’s a choice of focus.

It’s also the reason why the same strategy can produce entirely opposite outcomes, depending on the trader.

We attract what we focused upon.

 

[777]

True, but it also depend on the student! I am of a particular complexity where mentors would simply give up, because I would anyways in time find my own path and not listen to sage advices - but I do pocket them all in my conscious subconscious, and do consider. Although do not have the capacity to try them all out!

Mentors/gurus are essential in life for meaningful progress. But we all have differences in how we function as teacher and student, so it is very non-linear what results come to be and how.

Regarding mentorship, it's more of a happening, than something that can be manufactured. Meaning in a deep mentoring relationship, there are qualities hard to replicate. So yes, while you can and should seek, there's no guarantees involved in any way how it'll turn out. What we hear of success stories and anecdotes, are hindsight and selection biased. Also please consider the fact that a mentoring relationship can be time-bound, it'll always have a definite ending, though we may or may not choose how that ending should be.

Beggars make poor students though.
Best bet would be to ask yourself: How do I function as mentor, and how can I progress in my mentoring? When you give, so shall you receive...

Yes yes

But at the end of the day, this poster should seek out personal relationships with winners, perhaps seeking out- after massive research- the right office in a prop firm. All offices in a firm are not equal.

No reason to think he should simply backtest harder and try harder as there are obviously big holes that he is unaware of that are hard to totally remedy via posting.
___

Btw, Simples, I share some of your shortcomings and attributes.

Good post. Thanks.

__

Also...


Reading the posts Tommo has made on this thread 20 times, taking notes and, private messaging him would be smart!!!

In part because he is accurate and in part because he is offering a new way of looking at things.

 

[qxr1011]

But at the end of the day, this poster should seek out personal relationships with winners, perhaps seeking out- after massive research- the right office in a prop firm.

dead end

 

[777]

Re Prop Firms:

Aside from low costs and possible learning...

Even if you have a winning method:

You may need or desire to slosh around hundreds of thousands of dollars to make a good living and grow a bankroll.

Some slosh around millions each day. Many do not have this kind of money lying around in their IB account.

And

Need low costs

And

A professional platform

And

A support group of winners helps... maybe a better way will come along.. new ideas.. etc
___

WARNING

The wrong prop firm or even the wrong office will drain your emotions and money with

Shit training by losing traders that you will be charged for

Winning traders with no obligation or desire to help you

Commissions, fees that are killers

 

[Simples]

Btw, Simples, I share some of your shortcomings and attributes.

Any real trader potential will share those attributes.

However, being around those whom you want to emulate is often a good reciple, to become that which you want to emulate.