When Mentoring

[Nexen]

Quote from NoDoji:

Ha ha, you didn't know me back in the days of the -$6000, -$10,000 and -$18,000 losses from holding positions against the prevailing trend until I was absolutely, positively certain beyond a shadow of a doubt that "maybe this trade isn't such a good idea". Back in the days when, while in such a trade, each pullback in the trend was a "ahhh, now price is finally going back where it belongs" moment, and the whole time my mentor is patiently explaining to me again and again and again month after month how to identify a trend, enter the trend, hold through normal retraces and milk that trend. I milked the trend all right...in the wrong direction! :eek:

was that on cash or sim ?

 

[Nexen]

Quote from LeeD:

One of the most difficult lessons to learn, I found, is when not to trade.

When one can't think straight (just had an an argument with a dear one or has a hangover), the best trading decision one can take is to take a day off.

This realisation has made the second most significant contribution to my bottom line (after accepting I can't predict every market move).

Knowing when not to trade and resisting gambling is key to success.

 

[NoDoji]

Quote from Nexen:

was that on cash or sim ?

Cash, unfortunately. Sometimes people ask me for the link to my old journal and I'm tempted to warn them there are chapters where it's best to be under the covers with the lights on before reading them. :eek:

 

[deadbroke]

Quote from lescor:

I've been doing this full time for almost nine years now and most people think I'm a slacker or a bum.

A slacker and a bum would be putting it mildly.

You are a .... Poser/ L i a r and are advertising for your next victims wherever you post

 

[deadbroke]

Quote from lescor:

Yes, I'm referring to "making it" part. Being able to survive the learning curve. Once you get past a certain point, trading can become easy. You can dial back the drive and almost put it on cruise. I've been doing this full time for almost nine years now and most people think I'm a slacker or a bum.

Sooooo easy to spot ... the deceptive advertising et al ...

trading can become easy = voluptuous music to a wildebeest's ears

dial back the drive and almost put it on cruise = you can retire = you don't hardly gotta work no more = an orgasmic flush for the young wildebeest.

Behold the humility that was preached in - heck only the previous post

--------------------------------


but you see, Nature intended it this way. It rarely is STRONG versus the WEAK - it usually is CUNNING versus UNWARY.


but unlike Nature, the game here is artificial in that it could be blown to smithereens by requiring certified documentation - then the game goes .... poof.

So in this regard it ain't like Nature at all, but only mimics it!

Such people disgust me.

 

[deadbroke]

lescor\right-click\send to\Turd Central

 

[mindtrade]

Quote from deadbroke:

lescor\right-click\send to\Turd Central

you sir, are an idiot.

 

[SarahNGuyen]

an idiot I'm not sure, but an annoying person without a doubt.

To get back to the initial post: I think that if an individual understands the nearly-random nature of price distribution, he'll become humble enough to get the right state of mind (willingness to find an edge, that is)

 

[wiesman02]

Quote from NoDoji:

No. If I did, I'm sure I would've learned MUCH faster

As far as I can recall, NoDoji's husband is also a trader, so I'm assuming her mentor was also her husband, therefore Im' sure she did pay him in other ways hehe

 

[LeeD]

Quote from NoDoji:

Cash, unfortunately. Sometimes people ask me for the link to my old journal and I'm tempted to warn them there are chapters where it's best to be under the covers with the lights on before reading them. :eek:

You have earned my respect for being open about embarrassing moments of the trading career.

Quote from NoDoji:

Do you know why trading has such a high failure rate? Because it has fewer barriers to entry than almost any other job. Even to get a minimum wage job, you have to show up with clothes on and fill out an application.

To start trading, you need to deposit a small amount of money into a trading account, find access to a computer and click buy/sell buttons. The more unqualified people able to get into a job, the more that will fail as competition thins out the herd.

This sounds very much like online Poker. However, I dare say very few people aspire to make living from playing poker online.