Seems a bit strange thinking of proficient coders who are unprofitable traders needing trading mentoring, possible, but hard to imagine.
who can be the best Mentor
- Thread starter mr_byte31
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Seems a bit strange thinking of proficient coders who are unprofitable traders needing trading mentoring, possible, but hard to imagine.
Being a software developer, I have no doubt he is an expert in his field. However, being an expert in his field does not translate into being a top trader. I mentored a doctor friend who is a female and she is a very good doctor. However, she managed to lose $1,000,000 in the stockmarket. That is not a typo. She continues to trade the stockmarket but, thankfully has less monies in her account to lose! Long story short, she has the trading plan I created, gave her a copy of my trading log (spreadsheet) to use, went over entries and exits, risk management and 2% limit per trade, have gone thru hours looking at charts and me explaining the concepts of trend following, setups, the works. You would think she would atleast, be a competent trader able to take monies out of the market? No. Not even close. She totally, ignored risk management and took huge positions, trading hundreds of options contracts, traded against the trend, refused to maintain a trading log, cannot read a stockchart or see an obvious trend in front of her. Most notable is her trade on VRX (now BHC), it was on a strong downtrend. Yet, she bought call options on it. Of course, she suffered losses. I told her to exit the trade and close it. Buy put options if she wanted to make monies and recoup some or all of her losses. What did she do? She tripled down and bought more and more call options. Of course, she lost 90% of her monies she put in that trade alone! She continues to trade and 4 trades she selected on her own, she lost each and every single one! Now, I also, shared my trades with her and urged her to just follow my trades. Guess what she did? If we have 10 trades in say 1 month and she will enter 1 or 2 that she picks out of her head. My win percent is 40% which means I lose 60% of the time but, my average win is 2 times my average loss. There is an edge there and you do the math. Most times, she gets the losing trades! I told her she cannot pick and choose because I myself do not know which trades will work out and payoff.
I can assure you there is a very large group of software devs who thought they could easily translate their software skills into becoming profitable algo traders. They thought incorrectly. While being able to code may help one finding and maintaining and edge, it is far from guaranteeing it.Seems a bit strange thinking of proficient coders who are unprofitable traders needing trading mentoring, possible, but hard to imagine.
No hint of irony or sarcasm?
Coding can be like trading (anticipation), but 99% of coding really isn't.
Sarcasm originally not correctly interpretedNo hint of irony or sarcasm?
Coding can be like trading (anticipation), but 99% of coding really isn't.
Seems a bit strange thinking of proficient coders who are unprofitable traders needing trading mentoring, possible, but hard to imagine.
I guess the question is, are there more profitable traders who want to become proficient coders or more proficient coders who want to become profitable traders?
i thought i was a trader then i was mentored by a trader and during that time found out i was a hardware guy doing computer floors, lieberts, cabling, sat dishes, fiber up elevator shafts etc. and i did it all. plus i was the programmer, analyst, researcher, spy, sleuth, intel thief etc. you name it i did it.
i thought the gig would last a year and 10 years into it i found i was just becoming a journeyman but far from mastering it. 20 years total into my 35+ years i was able to perform any hardware, software, programming, research, conception, pull algo's from thin air and any other circus tricks.
all this because a real trader needed my skills and he was willing to trade out what he knew and how he could support the research for my dedication to find the holy grail. i never gave up and my mentor as wealthy as he was wanted to know if perfection existed. in pursuit of that we got close enough to opening pandora's box.
maybe not for everyone but i am very lucky that a trader needed my skills so that i could observer every day what it really took to own jets, 20 million dollar houses and live an unlimited life. my mentor "even owning a biotech firm" could not beat cancer in the end.
i was blessed to have a mentor and i would have never had it any other way. different minds when focused on a signal accomplishment can achieve magnificent results. my take on it.
i thought the gig would last a year and 10 years into it i found i was just becoming a journeyman but far from mastering it. 20 years total into my 35+ years i was able to perform any hardware, software, programming, research, conception, pull algo's from thin air and any other circus tricks.
all this because a real trader needed my skills and he was willing to trade out what he knew and how he could support the research for my dedication to find the holy grail. i never gave up and my mentor as wealthy as he was wanted to know if perfection existed. in pursuit of that we got close enough to opening pandora's box.
maybe not for everyone but i am very lucky that a trader needed my skills so that i could observer every day what it really took to own jets, 20 million dollar houses and live an unlimited life. my mentor "even owning a biotech firm" could not beat cancer in the end.
i was blessed to have a mentor and i would have never had it any other way. different minds when focused on a signal accomplishment can achieve magnificent results. my take on it.
Good for you. I had to learn all I needed to on my own. With a mentor, I might have become a better trader. Still, I am content with what I learned on my own as my goals are more modest. If I get a few thousand dollars profit here and there, I am happy with that! I'm retired and any extra monies I earn off trading goes to pay some bills and other things I might need. There is also, the windfall profits that fall in your lap once, in a while so, that is even better.
I don't have experience with them, but check out Garage Day Trader on YouTube he may help you decide. Check out Warrior Trader. Check out ifundtraders(Oliver Velez). Check out Clay Trader. I don't think you can find/afford a dedicated mentor and the best you can hope for is to join some group. Which one? That is something only you can answer. May have to go through many before you learn what is the right fit for you. As far as books, IMHO, the only book needed is "How to trade in stocks" by Livermore. It has all one needs, the rest is lots of hard work, self discovery, and lots of dead ends. Let us know how it goes. Good luck.
I AM THE BEST MENTOR!
Why...because I have no qualms about telling the 100% absolute truth for free instead of bullshitting you. You might dislike the tone but the fact in the comment is still fact.
Showing fancy screens and indicators to convince you to give me $10k which I can make faster on my own with less headache of wet nursing someone is not mentoring, it is scamming and marketing. Mentoring is taking some dumbass who thinks he knows it all and smacking his nuts with the end of a rolled up newspaper and saying "Bad dog!" while you make dumbass mistakes.
You want a mentor, then ask me a question and make sure your nuts were not surgically removed because I don't pull any punches. Does that wrinkle your vag? Then how the hell do you expect to make money in an industry where it is cutthroat and everyone is fighting for money. Trading is not for pussies. Anyone offended by anything in the above should go somewhere for a private cry and stop trading for a while.
A friend of mine, Iranian woman who is 5' 3" and traded for years FX on the floors of some trading houses in Europe and Middle East will occasionally curse. She tells me in that environment where you are fighting for your livlihood, it gets nasty and rough and if you cannot handle it, then get the fuck out of the way (true quote).
That is a mentor, someone who tells you the truth and pulls no punches, not some glorified information whore who wants to show you their 8 screens and fancy indicators.
If I told you to fuck off, be flattered I took the time to address your point.
It's not personal, Sonny. It's strictly business
Why...because I have no qualms about telling the 100% absolute truth for free instead of bullshitting you. You might dislike the tone but the fact in the comment is still fact.
Showing fancy screens and indicators to convince you to give me $10k which I can make faster on my own with less headache of wet nursing someone is not mentoring, it is scamming and marketing. Mentoring is taking some dumbass who thinks he knows it all and smacking his nuts with the end of a rolled up newspaper and saying "Bad dog!" while you make dumbass mistakes.
You want a mentor, then ask me a question and make sure your nuts were not surgically removed because I don't pull any punches. Does that wrinkle your vag? Then how the hell do you expect to make money in an industry where it is cutthroat and everyone is fighting for money. Trading is not for pussies. Anyone offended by anything in the above should go somewhere for a private cry and stop trading for a while.
A friend of mine, Iranian woman who is 5' 3" and traded for years FX on the floors of some trading houses in Europe and Middle East will occasionally curse. She tells me in that environment where you are fighting for your livlihood, it gets nasty and rough and if you cannot handle it, then get the fuck out of the way (true quote).
That is a mentor, someone who tells you the truth and pulls no punches, not some glorified information whore who wants to show you their 8 screens and fancy indicators.
If I told you to fuck off, be flattered I took the time to address your point.
It's not personal, Sonny. It's strictly business