Find a great mentor

[foroom lluzers]

A great mentor will show you the ropes of succesful trading .A great mentor will have the following qualities

a)understands high probability trading and it's implications
b)Understands trading phsychology i.e stress reponses , emotions and body conditions etc etc.He has failed because of this trading phsychology , and is able to explain real trading and how phsychology affects your trading
c)has failed at real trading on live accounts , understands real market behaviour of choppy markets , trend failures , extremely volatile and unpredictable markets.He has experiened a) and b) and can devote time to you.
d)is down to earth and detailed about trading phsychology and high probability trading
e)Will provide a K I S S (keep it simple stupid) high probability method , the human brain is wired to lose in the markets ,therefore it is important to have a K I S S method
f)Understands market timing and find a method to time the markets

Do some google research on the following
"stress reponses , hippocampus,amygdala hijack "
"human brain is wired to lose in the markets"
"is it possible to time the market"
"choppy markets trend failures"

This is a great thread to read

http://www.trade2win.com/boards/fir...ility-trading-so-important-2.html#post2891488

http://www.trade2win.com/boards/new-trade2win/30630-how-difficult-trade.html#post1246106

http://www.trade2win.com/boards/edu...y-trading-system-75-hit-rate.html#post2891222

http://www.trade2win.com/articles/2216-your-brain-wasnt-built-handle-reality

Design a high probability method around the above or get help from a great mentor to find such a method .Go to youtube and listen to phsychology videoes about trading patience, trading emotions ,amygdala hijack , stress reponses , trader's personality , reactive patterns , the need to be right , perfectionist and other emotional arousals during trading like frustrations , anger at trades /market behaviour , revenge trading , reactive patterns etc etc

Do your homework and you will find sucess and consistent success.::clap:

 

[foroom lluzers]

Read this thread ,Very important thread for traders

In trading , the trader is his own worst enemy , a trader has phsychological demons waiting

Successful trading is 80% psychology and 20% methodology. Only you can beat you. I can’t beat you and the market can’t beat you. You are the one that you have to beat and you’ll be the player to beat. In order to achieve victory over yourself you must understand the psychology of money, the psychology of trading, your own personal psychology and a thorough understanding of what ‘risk’ means to you. In addition you must have a strategy in place to minimize the risks of loss in any trading position you enter.

http://www.trade2win.com/boards/psychology-risk-money-management/45686-trading-psychology.html

 

[foroom lluzers]

http://www.trade2win.com/boards/edu...n-wasnt-built-handle-reality.html#post2890308

Re: Your Brain Wasn't Built to Handle Reality
The Article is informing where traders can mess up with information processing ,traders must trade by processing information. Unfortunately, humans are not very effective information processors. We have a lot of influences that enter into information processing related to trading decisions.Traders who sit infront of screens are more at risk to misprocessing information.

Traders trade their beliefs ,cognitive biases and related distortions ,emotions ,stress responses (rective patterns ,freezing on trigger ,mistakes etc),subjective anylysis ,personality( Perfectionism ,Worry ,Overconfidence,
Negative Thinking.Self-blame etc),state of mind ,current body condition (tired ,fatigue,sleepless) and other influences .The trading phsychology is a complex subject ,the author has given a summary.

It is worth reading this article and applying it to a trading method.The above makes the human brain a poor judge of risk ,the brain is often not in reality with risk and trading is a risky business.The evidence of the truth in this article is ,there are over 3,000 free systems on the internet , more than 95% fail at trading because of the above phsychological handicap of the human mind.

Go back to the article , reread it many times , then compare it with real trading situations ,apply it to traders processiong information in extremely fast moving markets .

http://www.trade2win.com/boards/edu...n-wasnt-built-handle-reality.html#post2890808

 

[pipsicusmaximus]

I looking for trading mentor how much you charge?

 

[pipsicusmaximus]

I send private message

 

[foroom lluzers]

I looking for trading mentor how much you charge?

I don't mentor , I just wrote this thread to help new traders on what to look for in a mentor.

Most of the other threads and articles on mentors are biased towards vendors and are written by vendors/mentors.This one is written by a trader to help other traders.

 

[foroom lluzers]

I looking for trading mentor how much you charge?

I do not mentor or sell education.


A proper mentor will cost you about £25,000 /$30,000 , without any guarantee of success after the education/mentoring.Quality has a price.

 

[foroom lluzers]

I looking for trading mentor how much you charge?

Who is this mentor?Does he understandind real money trading?You pay peanuts , you get a monkey!

 

[wallstreetwarrior87]

There is a massive difference between a mentor and someone who will teach you their methods.

One is for here and now - a solution to a need/want/desire.

The other one is to offer encouragement/self development/an open mind to any path the student chooses - a lifetime of learning (but not just about the markets).

But because the underlying end product of trading is money, then there is no surprise which path the student will take.

So in reality the best mentor is out there and should not cost anything - but the core subject will not be about trading, and this is what is hard to grasp (at the beginning at least).

A good mentor will promote self responsibility - then the journey can really begin (if the student wants to progress)

 

[foroom lluzers]

A good mentor will promote self responsibility - then the journey can really begin (if the student wants to progress)

Don't blame the mentor , you choose the mentor you hired him , you failed at trading , your mentor is human he had emotions and he took your money , even though he knew you will fail.

 

[piphoe]

I ask this: other than his proven method what else can a mentor teach you that's worth the money?

How do get balls of steel? Your born with them, or you are not. (although, over time your balls can harden which is useful for trading in general)

disclaimer: i am not a big fan of "life coaches" On stage platitudes by larger than life figures do little for me

"Tony", don't expect my check anytime too soon

 

[wallstreetwarrior87]

Don't blame the mentor , you choose the mentor you hired him , you failed at trading , your mentor is human he had emotions and he took your money , even though he knew you will fail.

I agree with that you say, but that is about the salesman aspect.

I am suggesting a real mentor should not cost money, and will not teach trading - thats the job of an educator

Encouraging people to open their mind, does not cost a penny, the only cost being time with no guarantee of what the end product will actually be.

Observing what happens in wildlife( as this is the purest form of raw nature) would be a good starting point - but the student will only benefit from these observations if they have an idea of what they are actually watching - can they see the meaning from the animal's actions rather than just seeing what is going on?

Of course this is no good to the folks whom have 1 hour to learn how to make their fortune in the market - dont be so daft "show me the system - I havent got all week"!

 

[wallstreetwarrior87]

I ask this: other than his proven method what else can a mentor teach you that's worth the money?

How do get balls of steel? Your born with them, or you are not. (although, over time your balls can harden which is useful for trading in general)

disclaimer: i am not a big fan of "life coaches" On stage platitudes by larger than life figures do little for me

"Tony", don't expect my check anytime too soon

This comes down to self discovery and self responsibility pip - someone cant sell you a set of balls of steel !

Would be nice if it they could lol

 

[foroom lluzers]

I agree with that you say, but that is about the salesman aspect.

I am suggesting a real mentor should not cost money, and will not teach trading - thats the job of an educator

What is difference between mentor and coach?

 

[foroom lluzers]

MENTORS - have realistic expectations
By its very nature, the mentoring process is slow. Unearthing the talent that lies within you and helping you develop it to become a consistently profitable trader is likely to be both time consuming and expensive. No one will turn you from a novice or unprofitable trader into a money making machine overnight. Run a mile from anyone who tells you they can.

COACHES - have realistic expectations
A trading coach is a little different in that they can explain in detail how they trade in a day or even less. However, this information alone will not make you a profitable trader. Let’s return to the footy analogy and 1-2-1 coaching with David Beckham. Spending a day or two with him will not turn you into a star player overnight, worthy of a place in a premiership team. In fact, you’ll have to spend many hours on the training pitch practicing the things he showed you. It could be weeks or even months before your teammates notice any difference in your performance. More importantly than that, it’s highly unlikely that you’ll ever play as well as David Beckham – no matter how many coaching sessions you have. The same basic principle applies to trading coaches.

http://www.trade2win.com/boards/new...ou-recommend-mentor-coach-trading-course.html

 

[piphoe]

i'd read this but i'll take a mathematical edge over any of this. however,

i am a discretionary trader, and retail. so i have two strikes against me.

as most of us do. i'd pay for a professional , to help me with my trades. they are worth it, that's their biz.

LEGIT, that is (not saying any here not legit), just that I could learn smthg from a proff

 

[foroom lluzers]

I ask this: other than his proven method what else can a mentor teach you that's worth the money?

How do get balls of steel? Your born with them, or you are not. (although, over time your balls can harden which is useful for trading in general)

disclaimer: i am not a big fan of "life coaches" On stage platitudes by larger than life figures do little for me

"Tony", don't expect my check anytime too soon

A mentor can find a method to suit your personailty , if you are very reactive to revenge trades ,stress repones are faster , are impatient/ impulsive pulling trigger etc etc etc on almost every move , like our DENTIST here

http://www.trade2win.com/boards/technical-analysis/183506-trading-p-f-2361.html#post2892380

 

[piphoe]

A mentor can fid a method to suit your personailty , if you are very reactive to revenge trades ,stress repones are faster , are impatient/ impulsive pulling trigger etc etc etc on almost every move like our DENTIST here

http://www.trade2win.com/boards/technical-analysis/183506-trading-p-f-2361.html#post2892380

oh, i think i get it. if you have a simple cavity a general dentist practice will suffice.

But if if your problems are deeper, might need an oral surgeon.

i get it now, thanks for clearing that up :clap:

 

[foroom lluzers]

Anything that controls your mind controls every trading decision you make , every trade you put on.A mentor should be a phsychologist.

 

[foroom lluzers]

Search on google with words "Sir alex fergusion psychologist"

Sir Alex the manager is a great psychologist - he is a great example because being a manager is about being a great psychologist.being a mentor/manager is about being a great psychologist

https://hbr.org/2013/10/fergusons-formula

Most trading mentors have to deal with trading holy grail results as follows