who can be the best Mentor

mr_byte31 said:
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 !
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A check list is not a trading plan.

If you know what you are doing wrong. Stop doing that.
 
If I was to mentor you the first thing I would ask for is a trading plan.

This would be a document like a business plan. Something you could take to a bank or an investor to convince them to lend you money.

I would not show you a method, I would expect you to develop your own.
 
mr_byte31 said:
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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If you trade in the stockmarket, you will lose monies! You cannot win 100% of your trades. That is just common sense. What matters is your losses are small in size compared to your winners size which have to be multiples larger. Example: On average, your losses comes out to $100, your winners average $500. That is fine. You can have more losses than winners and still come out ahead. If you place say 10 trades and lose on 7 times, it costs you $700 in losses. However, you win 3 times at $500 each time is $1,500. $1,500-$700= $800 in profits on just 30% winning trades.
 
The best mentor is the one who is willing to share with you his working method (with which he made a ton of money) + willing to spend plenty of time with you, correcting your mistakes and building your the mental stamina.

Potentially this mentor can subsidize your education + give you ample money to start with.
 
qxr1011 said:
The best mentor is the one who is willing to share with you his working method (with which he made a ton of money) + willing to spend plenty of time with you, correcting your mistakes and building your the mental stamina.

Potentially this mentor can subsidize your education + give you ample money to start with.
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Any one here willing to do that? :)
 
Lot already good free advice here. I could add more but OP will just think I am rude because he wants it handed to him.

If you keep doing the same thing and keep losing and you have no trading plan and too much fear and not full understanding of support and resistance then you might not be ready for a mentor.

If you are not willing to follow free advice why would pay $10k for it?
 
mr_byte31 said:
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 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.

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 ?
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Gurus-for-hire rarely work out well, unfortunately. Pay close attention to Speedos comments in this thread.

Your Goal should be to develop a personal relationship with a winning trader and chat, perhaps ask to work for him for free. The problem with this goal is that few can reach it; study Speedos posts. However, This Should Be Your Goal.

Many simply do not understand enough to coach themselves but if they hook up with winners, as you are attempting, have a chance.

Few people become worthwhile winners and far fewer do it all on their own.
____


Here is an excerpt from a 2010 lether from the most successful day trading firm, Shoenfeld, to it’s fully trained and backed traders before it fired most of them:

"unfortunately, our vision of the future of trading has changed. It is getting much tougher for traders to make a living or get by.

The direct competition from black boxes, stat arb and high frequency trading which continues to grow at exponential rates is here to stay and has caused us to change our outlook for lesser skilled traders."

I will not say there are no pros making good money, but.


PS.. Most gurus-for-hire now have no edge and no longer win, or they never did.

Most gurus-for-hire are good at selling and I have met quite a few trusting souls who have spent over 10,000 dollars on worthless (which is harmful) lessons.
 
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qxr1011 said:
anyone here satisfies the first parameter - "has working method (with which he made a ton of money)"?
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Any trader who has done that will have little interest in bringing along a noob for $10K.

If one is hoping to find a successful trader who'd altruistically inclined to spend the time to teach someone, that's different... but $10k is no incentive at all.
 
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