Online Trading Mentoring?

Quote from phattails:

jr07,

don't expect to find any decent pro's to look over their shoulder (what's in it for them). Seriously, don't fool yourself!! Try and get into the industry and if all else fails, go to work for a prop. firm and set and watch those traders. Don't expect those guys to have some novel indicator, the majority of discretional traders that i know that are successful can't really describe how they do what they do or what their strategy is. Find a NYSE stock and watch it with the open book, level 1, and time and sales. Pull up one chart on daily and your favorite intraday time period, along with the S&p intraday and watch. Don't use any indicators (maybe a moving average if needed). Try and be as objective and observant as possible. Don't read any technical analysis books. If understanding the markets is a foreign language then having any preconceived ideas is like learning a foreign language through another foreign language. Learn about how markets work and who all the major players are. Start reading the wall st. journal and start writing all of your questions in a notebook. Don't spend any of your time listening to guru's. Also know that the markets don't care about what you think, who you are, or how you want to make money in the market. If you have any computer science, statistics, mathematics background, think of ways that you can develop and edge with the programming. Finally, don't listen to Tharp or any other market shrink until you are consistently making money.

I've been doing this professionally for a few years and it all boils down to knowing how to be a good competitor. This competition will, without mercy, show you all of your weakest points. For instance, when I first started trading, I was an indicator whore, then I found out that the market doesn't care about how I want to make money. What the market rewards and what people think the market rewards are almost 2 completely different things.

Learn what a good question is. For instance, you're assuming that your energy is best spent finding a mentor. It that the really the case/. If you're trading because you want less stress in your life and you want to take a few trades in the morning and then spend the rest of the day snow skiing, then you have the wrong idea. From trading, I have no ego and I'm generally a paranoid person, because this paranoia is the only way i can trade successfully. Approach each trade, each strategy, each person that you meet in this business, with extreme reservation.
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Great observations !
 
I traded in this guy's room for 3 months. He's green every day. He's a momentum scalper. He uses hot keys like maniac. You'll probably have to pay big bucks through OTA but watching him was a real epiphany for me. He's a hyperactive Nasdaq trader who scales in and out of thousands of shares while darting in, out and reversing like a fighter pilot, sometimes in as little as a few seconds. He will mentor you and answer your questions in real time. He's only one style of trading though and you should study as many styles as you can.

You can also study what Adrian Manz does primarily with NYSE stocks. By reading his book and doing what he says, you will probably make money. He has a unique group of set ups which work. He's a day trader only but he's definitely NOT hyperactive. Both these guys are 100% legit and both make consistent money. Manz is trading hedge fund money with the trades he recommends.

Finally there's a Bill McDowell who's a futures trader with a trading room. I think he's been in the business a long time, makes money and his room is reasonably priced if I'm not mistaken. I found his phone number in my pda 949-551-2190 although I couldn't find him on Google. I don't know the guy nor have I ever seen him trade though.

Be sure to read every book you can and start out with a simulated account like Tradestation's so you won't piss away your account like I and everyone else always does when they start, and probably multiple times before becoming profitable. John Carter's "Mastering the Trade is particularly good and Martin Pring's "Introduction to Technical Analysis" will get you on the right track.

Still, there's nothing like watching and hearing a seasoned pro narrate in real time what set ups he's looking for and then watching how he executes.
 
One thing I would tell someone close to me who wanted to learn to trade would be to listen to Gary Kaultbaum's radio show. It's on every day the market is open and Gary is a seasoned pro who manages over $1.5billion (God why in the world would a guy like that waste his time with seminars, courses, newsletters and a radio show?).
 
Quote from jr07:

What a bout Larry Levin's Secrets of Traders .com?

Anybody out there been on his mentorship programs?

J
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I purchased his course. It was a hodge podge of different things he put together. I was very unimpressed and sent it back for a refund. For example, he uses a bullish engulfing pattern on a 10 minute ES chart as one of his favorite entries. He also has rules for using the value area, which he describes in his free nightly newsletter. There are a few other techniques he uses as well. He reports his daily trading room results in his nightly newsletter and does not seem to do very well. Maybe some people do well with his methods, but I have taken much better courses than his.
 
For Forex currency trading the best guy is Wayne Jackson (aka Jacko) . Has a public and proven record of successful forex trading and is open to mentoring committed traders. He occcasionally posts over at Forex Factory.
 
Quote from daytradewell:

I am a day trade mentor. You can go to my website www.daytradewell.com. If you are willing to come to me either in my NYC or NJ office we can work in person. send me an email if you would like to chat further at mark.m@daytradewell.com

good luck
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Wow this faggot is trying to sell 20 minutes worth of "voice" advice for $100!

http://daytradewell.com/buy-marks-time.html

Apparently he once manged $150,000,000 in assets and also ran a hedge fund. I bet if he was anything remotely successful, this scum would've had enough money that he wouldn't have to waste his time on some shitty website marketing his "expertise". .
 
The reason most traders lose is because they want to learn everything in 5 minutes.

Just because a trader is good does not mean you will become a good trader.

If that were so, everyone attending the Puretick room would be millionaires.

Only those who want to develop their skills will make it.

You can read all the books in the world and the odds say 90% will fail.

Learning to trade successfully is like attempting to get into and graduate from Yale Law School.

Yes I will be criticized for being a liar because most of these newbies want me to tell you to come into our trading room and we will guarantee that you become a super trader.

But I refuse to deal in hype. Becoming a successful trader was the most difficult thing I have ever done.

I lost money for 4 years in a row before becoming even break even consistent.

In our trading room I will point you to the right equipment, but you still have to lift the weights to get a great body.

Successfully,

Alex L. Wasilewski
Co-Founder & Head Trader
Trades That Work
www.puretick.com
1-877-GOLONG1 ( 1-877-465-6641 )
 
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