Mentorship (4th year still not profitable)

MarkBrown said:
so yea if you think it takes less than 10 years to master trading. i would say it's typical to think that, i did also.

i am just being honest with you, everyone seems to have to find their way no matter how great a mentor you have. you will not be satisfied with a canned method most likely, no matter what. most people who trade are in it for the money, the ones who make the money are focused on the challenge.
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Just to assure you that there is no malice in my response,
only best wishes to trade profitably and consistently, K?
There are many ways to eat SuShi as you already know.... LOL
 
motif said:
Dont quit trading. Follow your dreams.

Never quit.
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Very good suggestion and very encouraging response.

But, what if, he/she has been wiped out a few times already,
for being on the wrong side of whatever he/she traded?

What would you recommend next? Warm regards.
 
777 said:
The mentor method is the best method for most:

Hooking up with a current winner and adding value is the way to go, if you can.

Develop personal relationships with winners.

(Paid gurus-for-hire rarely works out)

"Be around people whose behaviors are better than yours and you will drift in thar direction," Warren Buffett.

* I am encouraging of what you are trying to do because I don't see you walking away from trading; don't see you making it on your own-- and trying to funderstand a mentor and be around current winners is a good plan.
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Wise indeed
 
motif said:
Dont quit trading. Follow your dreams.

Never quit.
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I don't agree.
  • You should make on a regular basis an analysis of your progress.
  • You should also know why you do,or do not, progress.
  • You should be objective and/or ask if possible somebody else's opinion if he is familiar with trading.
Just to avoid that you will never give up and realize just before you die that you lost your whole life in chasing a dream that was not realistic.
All this does not mean you cannot continue for 10 years. It should mean that there is an objective reason for continuing. Some should better stop within 1 year while others might have good reasons to continue for many years.
I personally hard a very hard time for almost 10 years.But I followed the three points mentioned above, and the conclusion was each time to continue. It proved to be the right decision.

The most difficult thing is to know when to stop or when to continue. Sometimes very hard to know what to do, because you are never sure you made the correct decision.
 
vinc said:
sure,sure..especially among mathematicians:)
following the undefined..interesting case.for psychiatry:)
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It is not following the undefined, it is just the opposite of that.Trend is defined. But unfortunatelly most see the trend only in hindsight.

As you cannot see it, it does not exist?
You are an interesting case for psychiatry:)
 
vinc said:
sure,sure..especially among mathematicians:)
following the undefined..interesting case.for psychiatry:)
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I am consistently told either that trend-following doesn't work or that it used to work but now it doesn't. Maybe there are some environments in which it doesn't work - for one, I never look at intra-day charts so I can't say whether it works on that scale or not, I only trade long-term.

However, you might look at AUD/USD or NZD/USD or EUR/TRY or GBP/USD or the Dow chart or the Gold chart for the last 6 months and I think you'll find some pretty impressive trends. It would have been very hard to avoid making money trading these recently using a trend-following strategy.
 
In one timeframe the market can have an upward trend, a downward trend, or no trend at all.
If there is no trend at all you should shift to another timeframe and there will be a trend. So there is ALWAYS a trend. But not always in the same timeframe.
Each none trending period is part of a bigger trending wave.
 
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