Requirements for a Mentor

1

123Magic

Knowing that ET has a tough crowd, I though I'd ask what you would require or want to see from a professional trader who would offer services as a teacher/mentor to train others how to trade on a one to one basis. Also, what do you think would be a fair fee for those services? Frankly, I'm not sure there is much of a demand for this type of service.

This is a serious inquiry, not for me, but one of my patients who wants to wind down from the world of day trading. He only trades the ES.

Thanks in advance for your serious comments.
 
I think the best is to prove he's the real deal. It's one thing if he trade in 5 lots, and completely different if he trade in 50's...
 
Quote from laputa:

I think the best is to prove he's the real deal. It's one thing if he trade in 5 lots, and completely different if he trade in 50's...
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Thanks, but not real helpful. I don't see much difference between the two. He has a successful track record. Size is about risk and ones bankroll.
 
1) He would need to provide a copy of his financials to prove that he is a professional trader.

2) He would need to create a lesson plan and include his indicators that he uses for the student to be able to have in say trade station.

3) He would need to teach. and then provide follow up e-mail/phone call support to his students.

4) I think he could charge around $ 1,000 if the course is just 1 day or $ 2,000 - $ 3,000 if he needs to spend 3 days to a week.

5) I think the demand is strong for a real pro to teach new traders.

6) If he is for real, I could provide facilities for him to train his students and also help with martketing his services, but I don't want to waste my time with someone that blew out his account and now wants to teach others.
 
123Magic, something doesn't ring true here. Why would your patient need a trading mentor to "wind down from the world of day trading"? It sounds like YOU need a co-therapist, not a trading mentor for him. Please clarify the client's need. I both trade and provide therapy to traders, and am so old and near to second death that I do not charge to work with interesting clients. I can provide credible references from my ET patients if required. All the best to you and your patient. And remember, it doesn't get any better than free. And wherever you are, it is far enough away from where I am that treatment efficacy is assured.
 
From Shea, Gordon F. (1997) Mentoring (Rev. Ed.). Menlo Park, CA: Crisp Publications.
Mentoring is a way of encouraging human growth. Mentors are helpers. Their styles may range from that of a persistent encourager who helps you build your self-confidence, to that of a stern taskmaster who teaches you to appreciate excellence in performance. What ever their style, they care about you and what you are trying to do.
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Sounds like your patient wants to be a Vendor.
 
Quote from Duref Mudgins:

Why would your patient need a trading mentor to "wind down from the world of day trading"?
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Reading comprehension 101: He wants to be a mentor, he just doesn't know how to go about it...
 
Quote from Duref Mudgins:

123Magic, something doesn't ring true here. Why would your patient need a trading mentor to "wind down from the world of day trading"? It sounds like YOU need a co-therapist, not a trading mentor for him. Please clarify the client's need. I both trade and provide therapy to traders, and am so old and near to second death that I do not charge to work with interesting clients. I can provide credible references from my ET patients if required. All the best to you and your patient. And remember, it doesn't get any better than free. And wherever you are, it is far enough away from where I am that treatment efficacy is assured.
More...

I think you misunderstood his needs. He wants to wind down from trading to explore other things in life and at the same time still have his foot in the market by taking on a few students to teach THEM how to trade consisitently and profitably as he has done for many years.
 
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