Mentorship

[Babak]

Quote from Brandonf:



I agree 100%. I think that it is important for people to "get to know" Toni and or I before they take part in the program for that reason. We both have different styles and while one of us might be a good match for someone, the other could be terrible. Also, we have a 100% money back guarantee so that if 1 week into the program you are not getting what you want it doesnt cost you anything but time.

Brandon

well, that (and other things) is why you are a stand up guy!

 

[Brandonf]

Dont we ever sleep..jeez

 

[Babak]

hey what can I say...I'm addicted to the markets (was just catching up with some threads on ET)

ZZzzzzzzzzzzzzzzzzzzzzzzzz

 

[DHOHHI]

Quote from Brandonf:

In order to become a professional trader you need to:

1: Have a valid philosophy in place that applies in all market conditions. Its not helpful if you have to use an entirely different method every month as many claim you do.

2: Define a proper strategy or style for yourself with in the context of this philosophy.

3: A written Business Plan that covers your goals and the means by which you will achieve them.

4: Understand the psychology of mastering yourself, so you can master the market.

I don't agree with you on #1 unless I'm misunderstanding what you mean. Why is it not helpful (in your opinion) if one uses a different method from time to time? The markets change and so might ones trading style. In the mid 90's I traded disk drive companies (Western Digital, Quantum) and made a lot of money. I focused most of my trades on them and occasionally the PC makers .. nothing else. Later, around 1998 I focused on a few stocks (SUNW, ASND) and became really familiar with the ax and could "read" the stocks fairly well. In the last few years for me it's been a lot more about scalping given the bearish sentiment. So those smaller profits have allowed me to preserve capital while still making a living. Now I trade the SPY much of the time as I know there will be movement every day, thus creating opportunity all the time.

As far as a mentor, I don't see it as a requirement. For those with enough confidence, knowledge and drive to succeed you can make it on your own. In the end each trader has to trade a style he or she is comfortable with.