Samson's spending $30,000 on trading junk indicates imprudence, profligancy, ignorance, and--worst of all--lack of common sense. I've taken money out of crude oil for seven years, and I work with a top trader; my top trader won't even take managed money let alone give paid advice.
Trading Mentor/Coach wanted!!
- Thread starter SOStrader
- Start date
Actually it represents too much disposable income
The fact is I am NOT alone, I have spoken with MANY traders here in ET that went down tha same road as me.
For a short while I used to own/financed a martial arts studio where I used to teach Shotokan Karate and Boxing.
It seemed logical to me to look for a mentor or coach once I decided to try my hand at fulltime trading and I think a lot of people make the same error.
Why do top athletes or celebrities making millions per year continue doing side jobs (commercials) or own small businesses on the side (bar, dance club, restaurant, landscaping et cetera).
Why do these same individuals give their free time and energy to help those that want to be able to do what they are doing?
Isn't the millions they are making satisfying enough?
The point is that what you and I see as mad money may not be seen as mad money to them.
What I'm saying is that those that do such obviously see something else that's beyond what we may consider to be mad money.
By the way...be careful about getting a mentor to avoid the usual problems with such...
http://www.elitetrader.com/vb/showthread.php?s=&threadid=32793&perpage=1&pagenumber=7
If it ain't done in person in front of your own two eyes from the mentor's trading account...
It's not mentoring.
Mark
(a.k.a. NihabaAshi) Japanese Candlestick term
Nihabashi's post is indicative of the mental laziness that makes net losing traders. Tiger Woods' showing me--a new golfer--a golf grip is analagous to a new trader looking up an exchange website; exchange sites show order types, contract specs, other trading tools.
New traders seeking trading mentor are not looking for tools: they are looking for "secrets", "mind sets" (Ari Kiev's and Mark Douglas' "zone"), and such things. In other words, these seekers basically want someone to trade for them. Such seeking is analagous to my wanting Tiger Woods to hit the drive for me and then letting me book the shot on my scorecard.
Trading has some similarities to the game played by predators and prey. To all you lazy postors out there: keep playing; you pay our rent, our quote fees, fund our bank accounts, and other things.
New traders seeking trading mentor are not looking for tools: they are looking for "secrets", "mind sets" (Ari Kiev's and Mark Douglas' "zone"), and such things. In other words, these seekers basically want someone to trade for them. Such seeking is analagous to my wanting Tiger Woods to hit the drive for me and then letting me book the shot on my scorecard.
Trading has some similarities to the game played by predators and prey. To all you lazy postors out there: keep playing; you pay our rent, our quote fees, fund our bank accounts, and other things.
I cannot get Tiger Woods to give me some golf lessons but I certainly can go to a local country club and talk to the golf pro who is certainly a way better golfer than me and take some lessons with him at a small cost. No one says you need the best trader in the world to mentor you, just someone that is much further along and better skilled than you to teach you.
Once that golf pro got me playing well consistently I can certainly pursue my own avenues to improve my game and learn from simply playing again and again.
So if you get a job with the right prop shop or investment bank, it is not hard to find a good mentor. If you are completely on your own, then it is even harder to have someone give you the time. But mentor's exist in all skill levels and there is nothing wrong with looking to one to get you started.
Once that golf pro got me playing well consistently I can certainly pursue my own avenues to improve my game and learn from simply playing again and again.
So if you get a job with the right prop shop or investment bank, it is not hard to find a good mentor. If you are completely on your own, then it is even harder to have someone give you the time. But mentor's exist in all skill levels and there is nothing wrong with looking to one to get you started.
Hey Ozz, if you don't mind, you are going to be my testanimal.
Since I just PMed you this morning (because you asked) one of my strategies for free, you might still wonder, why the hell did he do it?
No good reason, but I got lots of valuable infos for free here and on other sites, and that is my payback. Now, I am going to ask you in a month or so, if you have been actually using my strategy and with what result. I hope you will answer my inquiry, and your answer just might answer your original question too....
Quote from easyrider:
Oh boy. This ought to be good.
Agree
Mark
(a.k.a. NihabaAshi) Japanese Candlestick term