Find a great mentor

[gerryg]

When you back test , you look for selective attention to your biases and beliefs , but other important non biases are missed out in manual back testing.

Mark Douglas is right , but you are also right that most systems don't work.

Many systems will work , only if there are fundamental backing te drivers of price.

First you should trade your own system , make loads of pips/ticks ,then compound it on a monthly basis , you will on Forbes list .If it works , you would not want to have the hastle of coaching someone.This is why I stated in orignal post , the mentor will have failed on live accounts and if the mentor failed on live accounts due to pychology , then has earned the knowledge first hand!

Trading coach may arrange simplified access to knowledge and provide you with structured, comprehensive and ready-to-use way. But he won't certainly reveal you secrets of money-making machine or some get-rich-quick guides

 

[Pedro30]

I don't know who the great mentors are , because I am self taught.

Then again, this thread is worthless. It is like advising people to find a great job, without telling them how. Sure, everyone is looking for the great anything, the devil is in the details....

 

[foroom lluzers]

Then again, this thread is worthless. It is like advising people to find a great job, without telling them how. Sure, everyone is looking for the great anything, the devil is in the details....

Mark Douglas would have made a great mentor , Dr Andrew Menaker phd would certainly make a great coach , he is the best , but wether he can give a profitable set and forget strategy , with his coachig is subject to question.A good coach will expedite the learning process and behavior change by guiding the trader in the proper direction.I would put them top of the list and the personal coaching will be expensive.It will be cheaper in the long run.

Dr Steenbarger is retired .“I wanted the best coach I could find to help me get to the next level in my trading and asked Brett Steenbarger for a recommendation, he highly recommended Andrew".

I learnt a lot from Dr Menaker's free videoes and articles.I am talking about hiring phds etc.BTW I am not promoting any of their services .

A trader could equally read the free psychology threads on this forum and self coach. , or use a cheaper coach for helping him set up. for success.

 

[Long Move Killer]

I think that it's controversial thing with mentorship. Yes, mentors are beneficial in case if you're newbie and want to get some basics about traders. However, I think that trading is all about mastering your skills and being innovative. And there is a great treat that if you will learn trading with mentor, you will try to copy him, not to develop your own ideas. It's not bad, but that will restrict your own possibilies and you won't be unique. It's okey to learn trading with mentor, but after you will unbderstand basics of trading, you should go your own way. That's what make top-traders more successful than others - they build their own strategies, don't try to copy someone else.

 

[Long Move Killer]

Very nice Thread this one. I meet a lot of good traders in the last 10 years, but no good mentor. Why? Because if, everybody
gets rich (lol

 

[manover]

It would be great to have a mentor but I think most of the well experienced traders are busy with their life and won't "mentor" someone for long hours. It is better that you learn from demo and get into some forums like in here to ask for any queries.

 

[Pat494]

A confident mentor would say something along the lines of - just pay me 50% of your first years profits. No profit no charge.
Some like W*bu just has no self discipline and won't succeeed easily with even the best mentor. Sad but true.

 

[fibo_trader]

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.:👏

Work it backwards, it will then be much easier to grasp ................

What are the chances that a MENTOR (been thru' blood, sweat & tears, agony and ecstasy, stomach beaten to a pulp, scar tissue everywhere) will find even one worthy student (clearly willing to go thru' the same rigor mentioned above) to help?

Slim to none. There is ONE thing a MENTOR can spot in a nanosecond ............. a duffer who will not do the work required or is willing to suffer thru' - but yet is loaded to the hilt with false pride and staggering complacency in ignorance.

But if there is one, its always NO CHARGE. Money can never be part of such a transcendental venture

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Application to T2W: A Mentor will drive by this place and have coffee and meet with the fellas for fun and frolic but will see no reason to linger and will move on, forgetting about the place almost immediately.

 

[fibo_trader]

Work it backwards, it will then be much easier to grasp ................

What are the chances that a MENTOR (been thru' blood, sweat & tears, agony and ecstasy, stomach beaten to a pulp, scar tissue everywhere) will find even one worthy student (clearly willing to go thru' the same rigor mentioned above) to help?

Slim to none. There is ONE thing a MENTOR can spot in a nanosecond ............. a duffer who will not do the work required or is willing to suffer thru' - but yet is loaded to the hilt with false pride and staggering complacency in ignorance.

But if there is one, its always NO CHARGE. Money can never be part of such a transcendental venture

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

Application to T2W: A Mentor will drive by this place and have coffee and meet with the fellas for fun and frolic but will see no reason to linger and will move on, forgetting about the place almost immediately.

Breezed thru' a post here where it was stated that a Mentor will not teach you the secrets, only give you the responsibility to find things on your own. That defines a classroom teacher or professor. Not a true Mentor. The true Mentor gives ALL because its given on a gradient scale, not in one shot, not in just one unit of time - its usually over YEARS.

How do I know this? It sure as fck didn't come from any book - it happened in real life, once in Philosophy, the 2nd time in Sales Closing. The first fella is a Scotsman, the 2nd, a fellow American. Both were at the top of their game, learned like one just could not believe. Patience of Job once accepted as THE one-and-only student. Never ever any money involved. Neither had anything to do with TRADING - that came later, no Mentor.