No, he has no interest in becoming a vendor. The definition of mentor or teacher if you will is appropriate in this case. That is not to say, however, that he is a saint who will spend his time doing this for free--he wants to charge a fair price for the value received, which I think he is entitled to.
Requirements for a Mentor
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No, he has no interest in becoming a vendor. The definition of mentor or teacher if you will is appropriate in this case. That is not to say, however, that he is a saint who will spend his time doing this for free--he wants to charge a fair price for the value received, which I think he is entitled to.
The above statement lets me know that you're for real. If you've got the other parts covered (the usual entry/exits that everyone seems to concentrate 90% of their attention) AND he/she is as good as you are, I'd say 3k-5k for 2 weeks to 1 month of hardcore tutelage, + an added for an additional 6 months of hand-holding (if required) for additional fees ... then it's time for them to fly.
Jimmy Jam
Quote from Wayne Gibbous:
Who needs a mentor?
Do it on your own.
The market is my mentor.
Ole "Lone Wolf Wayne"
Good trading to all.
Wayne, you might be correct. One of the big questions here is whether or not there is a need for this type of service to make it worth persuing and yet not make this a marketing juggernaut like Traders International, RSofHouston and others of that ilk. Ditto for Web vendors like Puretick, Falcon Day Trading, and Kingfish.
I've never had a coach or mentor but there was a decent article on this in the April issue of SFO Magazine.
"Trading Coaches Needed"
http://www.sfomag.com/issuedetail.asp?MonthNameID=April&YearID=2007
Damon
Taking your word that the guy is a successful trader, how will one know if he will be a successful teacher?
I would suggest he take on one or two students for little or no cost, or possibly a percentage of their trading profits, and see if he can actually teach.
If he is a successful teacher, he should be able to charge whatever he wants. The problem will be convincing people he is a successful teacher.
If he is known as a successful trader in the local community he should have no problem finding students to experiment with.
I would suggest he take on one or two students for little or no cost, or possibly a percentage of their trading profits, and see if he can actually teach.
If he is a successful teacher, he should be able to charge whatever he wants. The problem will be convincing people he is a successful teacher.
If he is known as a successful trader in the local community he should have no problem finding students to experiment with.
Of course he's prepared to show his trading statements and allow those who are serious to confirm those results with his broker. He has no interest in a profit sharing arrangement with his students in lieu of a tuition fee. That's akin to going to law school for free and then having the university get a slice of the students future legal fees.