A trading journal could be a notebook (I use a spreadsheet) to login all my trades and add notes on why I got into the trade like setups, reasons. Then, you can review the trades that did not work out. If you made mistakes on entries, exits, etc. you can correct those mistakes and improve your performance! Don't know if the Pristine Method will help you. You have to first figure out if you want to be a day trader, swing trader, position trader or investor. Each one is different, the approach is different as to trading and when to take profits, etc. Then, you have to devise your own trading plan and trading system to guide you in your trading.
who can be the best Mentor
- Thread starter mr_byte31
- Start date
A trading journal could be a notebook (I use a spreadsheet) to login all my trades and add notes on why I got into the trade like setups, reasons. Then, you can review the trades that did not work out. If you made mistakes on entries, exits, etc. you can correct those mistakes and improve your performance! Don't know if the Pristine Method will help you. You have to first figure out if you want to be a day trader, swing trader, position trader or investor. Each one is different, the approach is different as to trading and when to take profits, etc. Then, you have to devise your own trading plan and trading system to guide you in your trading.
I hand enter all signals on a legal pad. Date, Number of that trade for the day (1,2,3 etc), entry price, time, type of signal (I have variations of basically the same thing). MFE, MAE, W or L and number of ticks gained or lost. I then print out actual executions for that day and compare. Did I miss any, any questionable entries etc. I have been doing this for years and it's really helped to sharpen my game. As Ocho stated, it's a personal journey and you have to do your own work. You will not see things the same as another and you will have different personal qualities....Good Luck, success is there for those who work and persist but it ain't easy and most won't do what it takes.
Do you have a written trading plan?Hi All,
Unfortunately, till now I am not a successful trader. I still make the same mistakes over and over. Maybe I select the wrong stocks and enter the trade in the wrong time !
I feel like I am confused and nothings is working fine.
I was thinking about getting a mentor to help me to fix my issues and start to be profitable.
Asking me to avoid getting scared is not an easy thing to control the fear. It is a human nature !
This fear makes me lose more than I gain.
I thinking a mentor is important to anyone who is looking for trading. students need to discuss and get opinions !
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I always make checklist for my trading strategy but never followed them !
I know this is a big mistake but when I see stocks moving fast and very close to break point I forget totally about my checklist !
Watch Oliver Velez's videos on You Tube. He and Greg Capra started Pristine back then. They were selling those seminars back then, for around $3,000.00. I did not pay for that seminar. Instead, I bought the Pristine Method Part 1 and Part 2 manuals on Ebay, bought DVDs by Oliver Velez and Greg Capra and used all that together.
Lets assume this, a stock is going to break the 52 week high.
I remember a video on youtube that stated that a successful trader need to anticipate the move of the stock. in other words, the trader shall enter the trade early enough before it is obvious to other traders. entering early will secure more profits. so you should enter few cents before it break the 52-week high
In books, they state that the chart pattern must confirm breakout before you enter or if you pron to busted charts you loose more.
everything now in my mind is contradicting !
I remember a video on youtube that stated that a successful trader need to anticipate the move of the stock. in other words, the trader shall enter the trade early enough before it is obvious to other traders. entering early will secure more profits. so you should enter few cents before it break the 52-week high
In books, they state that the chart pattern must confirm breakout before you enter or if you pron to busted charts you loose more.
everything now in my mind is contradicting !
Hi All,
My first post here in the forum. I hope I can find assistance here.
Let me put my story in few sentences :
I started to learn about stock trading since August 2017. I watched a lot of videos on youtube.
I also watched DVDs like ( Penny stocks for Tim Sykes, Online Trading Academy, Investors underground for Nathan Michaud, Trading tickers for Tim Grittani)
I read many books as well ( How to Make Money in Stocks, Market Wizard,Stock Market Wizards, Getting started in chart patterns, Technical Analysis Explained, Trade Like a Stock Market Wizard, Penny Stocks For Dummies)
Unfortunately, till now I am not a successful trader
I feel like I am confused and nothings is working fine.
I was thinking about getting a mentor to help me to fix my issues and start to be profitable.
I saw many services on the internet. I know some of them are fraud others are not really successful but they sell what they know !
I want to ask if there are really good mentors having a high reputation and successful. any recommendation ?
I found that Tradenet service are very expensive but they trade everday online and show their P&L. did anybody have any experience with them ?
There is no upside to anyone who is good at trading mentoring for free or for cheap.
You're fishin' in a dry hole.
I know that it will cost a lot but I don't want to bay 10K for fraud.
I just want to get the correct mentor.
Like I said, "no upside".
Unlikely a quality trader would bother for your $10K. (The distraction of dealing with your needs would likely cost him more in lost profit opportunities than what you'd pay him.... so he wouldn't bother.) Sorry. Anyone who would take your $10K for mentoring is likely at best, not worth it. (This is like "Grandpa's best advice". If you appreciate this cautionary warning and want to thank me, send a few $$$ to a local "no-kill" animal shelter. If you don't know of one, I recommend The Max Fund, Denver Colorado.)
You're either going to have to pay a LOT more than $10K for a quality mentor or go through the drudgery of figuring it out on your own. You may find some sort of "teaching programs" to get you started for perhaps not too much money. I constantly get solicitations for the Online Trading Academy. I don't know what they charge or whether they're worth it... as their mail goes into the trash unopened. That doesn't mean they are necessarily worthless, as I've never checked them out.... but IMV they'd likely learn more from me that I might learn from them. Still, that might be a low cost start* for you.
Of course you can go with the "hit and miss" notions of ET posters, but I wouldn't recommend risking much money on that.
*You begin trading with a desire for success but a knack of knowledge. It's a progression. Sounds like you're looking for the mentor who will allow you to skip all the way from "know nothing" to "expert trader"... for a $10K mentoring fee. Not likely. It's a "progression of knowledge and experience".
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