elitejets
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I did, in addition to the IB training programme, he also had a mentor.
I did, in addition to the IB training programme, he also had a mentor.
B
Black Swan
N Rothschild
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i would mentor people in swing trading commodities, 2k a day!
elitejets
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Blackswan, I don't know what your beef with me is but Im not prepared to go into it here.
The OP asked about mentoring or lower cost alternatives and I replied because I have experienced both. I am sure I could have saved my money and eventually got their on my own but I wanted to learn fast and I was prepared to invest money in my career. It paid off for me, after a year I was trading full time for myself and have recently had some very interesting career offers.
FOR ME I considered it a worthwhile investment. I am sure that some will think it is worth saving a couple of grand and getting there on their own eventually but the sad fact is that many don't and I didn't want to be one of them.
Despite the fact you have never had a mentor and therefore have no idea what is involved you appear to think you are qualified to comment and pass judgement on what is taught and what it costs. Your posts show how little you know about either.
My only advice to the OP is shop around, and do your own research. The cheapest way is not always the best way.
The OP asked about mentoring or lower cost alternatives and I replied because I have experienced both. I am sure I could have saved my money and eventually got their on my own but I wanted to learn fast and I was prepared to invest money in my career. It paid off for me, after a year I was trading full time for myself and have recently had some very interesting career offers.
FOR ME I considered it a worthwhile investment. I am sure that some will think it is worth saving a couple of grand and getting there on their own eventually but the sad fact is that many don't and I didn't want to be one of them.
Despite the fact you have never had a mentor and therefore have no idea what is involved you appear to think you are qualified to comment and pass judgement on what is taught and what it costs. Your posts show how little you know about either.
My only advice to the OP is shop around, and do your own research. The cheapest way is not always the best way.
The various trading clubs, whilst a few are run by honest *good eggs*, exist to take money off you, month after month, end of...Suppose they teach you how to swing trade the forex across 9 pairs, what you gonna do all day there, talk about the weekend's footy results, or the Shakesperean tragedy of the Terry V Bridge snub? Which is why they *teach* you a bit of mysterious price action off 15 min TFs, it creates dependency...you're making a pitiful pin money sum each month? Then you'll glady give them a percentage to them 'cos you become too scared to move on and after all it's working isn't it?
You want trading buddies? Then make friends with your charts and your broker, or platform supplier...
Ask your mentor a question, "who mentored you mentor?" Er..no-one will be the answer...
You're talking nonsense. You're like Rothschild in the fact that you have to try and be a smart ass 99% of the time and end up looking like a bully/fool.
Read market wizards. I'm 99% sure that all of those interviewed have a trading track record that dicks all over yours. That's why they're interviewed in a best selling series of books that people pay good money for and we all have the misfortune of reading your ramblings for free.
The Majority of those traders interviewed had mentors, and believe it or not became mentors to other traders themselves. So in answer to who mentored your mentor you may well be surprised.
N Rothschild
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i take offense to that!
B
Black Swan
I stand by my original advice, at this first stage in the guys journey he doesn't need to spend (quote); "between 2-10K on a mentor". There is no debate that in all walks of life, at all stages, we benefit from teachers..however, I'd question the quality and calibre of the kind of tutor you're liable to 'pick up' from asking Q's on message boards.
My advice to him was to; get stuck in, DYOR, and to spend his original pot of circa $2K on trading micro lots, perhaps it could *last* 12 months during which, if he has the intellectual curiosity, he may discover whether or not he has that critical interest and stamina to survive and then forge out a career in this industry..how you take offence at that advice and brand it "nonsensical" is beyond me...
A high proportion of the 'super traders' hatch out of institutions were they've been 'mentored' by arguably the brightest lights at the best firms. I'm sure at JP, GS, MS.. there are hundreds of thousands of traders who "dick all over" both of us in relation to their P&Ls and the gargantuan salaries/bonuses they took home recently...I'd hazard a guess they didn't cut their trading teeth by finding mentors on message boards, but were taken under a wing by their boss..who has an intrinsic interest in seeing them develop and perform. Again, I'd suggest this is a world away from the short cut scenario the OP is looking to find on this message board. I'd suggest most of these hundreds of thousands of incredibly well rewarded traders havn't got an inkling of the bottom feeding that exists on sites such as T2W...
Your highly emotive response was also in relation to my specific point re. trading clubs, I also stand by this claim having experienced 3 (out of curiosity), 2 of which failed/disappeared. There are undoubtedly some good trading clubs out there, I know personally of one, but wouldn't use it as I find the activity in the environments distracting, the tutoring teaches me nothing I'm not capable of..
Finally, being a self employed day trader is an incredibly lonely occupation, some can deal with that isolation, others seek the need for companionship, each to their own, not one size fits all etc..
Firstly. My reaction was nothing to do with the advice given. For the most part I agree with what you say. I do have a strong disagreement with the way it's presented.
I think a lot of internet forums thrive on the fact that people can ask questions no matter how ridiculous (you may think they are) and get a response thats informative and polite. It seems(from reading some of your previous posts) that you take great delight in trying to look like a trading genius and as such come across as arrogant and rude.
In the overall scheme of things you don't know very much (neither do I) so if you want a board where people from all different experience levels/backgrounds can ask questions and answer them freely without getting laughed at then maybe you should address the way you post. Alternativley (T2W is getting this way) you can have a clique little forum with the same people shooting down the beginners who dare to put their head above the parapet and ask a question.
I'll just mention the 50pips thread that you railroaded, with a lot of nonsense. The guy was trying to post a few trades, who cares let him do it. But you had to get all over it with bells on trying to show (without any proof what so ever) that you were a better trader than him.
It was quite clear to me that there were a good number of people following this guy who did not want your input but you still had to force it on them and as such the guy reacted under your provocation and got himself banned.
B
Black Swan
I'm glad you've responded more politely Cedebaby as I'd always had time for you and your posts. Being subjective and rude is not something I normally enage in, I tend to reserve it for special cases.
You are displaying huge levels of ignorance in relation to the 50 pips *episode*. I won't go over old ground, what I have found fascinating, since becoming fully aware and active in this end of the industry, is the immediate levels of trust folk simply devote to charlatans; whether they be vendor system sellers, thread masters, site sellers or mentors..or in 50 pips case; dishonest, multi nic, disruptive vendors with a pathological hatred of T2W and its members...
You are displaying huge levels of ignorance in relation to the 50 pips *episode*. I won't go over old ground, what I have found fascinating, since becoming fully aware and active in this end of the industry, is the immediate levels of trust folk simply devote to charlatans; whether they be vendor system sellers, thread masters, site sellers or mentors..or in 50 pips case; dishonest, multi nic, disruptive vendors with a pathological hatred of T2W and its members...
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I don't feel my initial response was inpolite. As the saying goes there's one born every minute, look at the 20 or so of us who parted with £250 (and in some cases more) to Wasp. At the end of the day you nor I are gonna stop a fool and their money being parted. If this 50pips was a charlatan, dishonest and had a pathalogical hatred for T2W members then surely he would have undone himself (after all he was posting live trades)on his own thread without your input.
If he managed to acheive a good return (40-50 pips per day) consistently over a 2 or 3 month period and then decided he wanted to charged for his services (I assume this was the idea of his thread) then who really cares. If you're spunking 20-30 a day consistently and this guy is gonna charge £100 a month for 40-50 pips a day then are you really that big of a fool for signing up.
To the op have you tried reading through and participating in some of the more famous threads on here and elsewhere.
TD's making money thread is good J16 chart thread is excellent and the people will give you plenty of advice without ego and don't give a crap if you're a newbie.If you find you like that style they have a group you can join though the free stuff may be more than enough.
Cap currencys 3 ducks thread is still going in here and is a fairly simple system which should keep you from blowing your money while you learn your particular style.
TD's making money thread is good J16 chart thread is excellent and the people will give you plenty of advice without ego and don't give a crap if you're a newbie.If you find you like that style they have a group you can join though the free stuff may be more than enough.
Cap currencys 3 ducks thread is still going in here and is a fairly simple system which should keep you from blowing your money while you learn your particular style.
B
Black Swan
My last post on this subject as I've got a weather eye on 6 (short term) trades atm, we've hit the mid-morning doldrums so I've got ten minutes ..
In your post you called me; a bully, smart a55, a fool and accused me of rambling...we'll leave it at that in relation to discussing whether or not you insulted me..
I take a converse view to the thread you mention, if you did *care* re. your fellow T2W members, you may have found it hard biting your tongue from day one/post 5 (and private message 3) from the poster in question when revealing his identity and issuing masked sublimal threats in those said pathetic PMs...Watching semi-experienced traders flock to the 'new kid on the block', ably followed by his now disappeared apartachiks was troublesome given it followed a similar pattern of pathology some of us had seen elsewhere...but like you say, what business was it of mine...?
The fact that his trading methods were abysmal, (even to someone of my limited experience that was obvious), made it more difficult to suffer. Losing circa £1300 on his first 4 trades set a benchmark from which he never recovered any composure, but I have to point out that I never de-railed his thread; the most curious Qs came from Zup and Dante, they flushed him out without any *help* from me..
Finally, by the usual measurements I am a succesful trader, having spun out of the finance industry 2-3 years ago I earned a very decent (mostly) tax free wage last year which I actually *owe* a bit to T2W due to the cumulative rich content embedded over the years by its members. Which is why (when a couple of mods asked me to help out as a guide) I agreed, I wanted to pay a bit back. Wasn't for me, sadly I don't have the skills/patience and to be fair I also have difficulty in relating to folk on message boards...
trader_dante
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LoveToTrade
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I´d start by reading all his posts, then seeing if you had any questions.
trader_dante
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I don't think a certain way of trading is suited to having low capital. But it does mean you have to choose the right vehicle for accessing the markets. You should start with a broker that allows you to trade at the smallest size possible. Have a look around these boards and you will find quite a few threads on these different brokers
mslcwt1
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vvsignin -
I've been mucking around looking for a method and have used tip services, system vendors, mentor services and spent a ton of jack. Result / benefit? Butkus. Zip. Nada.
I still consider myself a newbie.
My trading seems to be changing of late to the positive side which seems a result of:
- gaining a bit of control of the mental side of trading
- getting away from indicators and trying to focus on price and volume.
- looking for and waiting for a "good trade" (as defined in my method)
Here's a suggestion from what I've experienced -
1- Setup up a broker account and put your "mentor money" in it.
2- Start trading the virtual platform your broker offers.
3- Do not go live until your virtual trading is positive.
4- Spend your time reading threads, picking up tidbits, trying out methods, try to identify and establish your own style / trading system.
5- As mentioned in several posts, paying for advice has several pit falls. Save your money.
6- Use this forum for advice and questions.
Those are the basics I've come to surmise after lots of attempts to do just what your doing.
There is no short cut.
No one you pay will give you anything you can't learn on your own.
Your confidence will be best served if you learn how to trade on your own.
When you come out on the positive side, you will have a method that is unique to you and works for you.
These concepts seem to be present in most of what the more experienced members of this forum say. Take it to heart. Look for the common thread. Believe what you read here not the hype you see out there. It will save you a lot of money. Alot.
Be well. Trade Smart.
I've been mucking around looking for a method and have used tip services, system vendors, mentor services and spent a ton of jack. Result / benefit? Butkus. Zip. Nada.
I still consider myself a newbie.
My trading seems to be changing of late to the positive side which seems a result of:
- gaining a bit of control of the mental side of trading
- getting away from indicators and trying to focus on price and volume.
- looking for and waiting for a "good trade" (as defined in my method)
Here's a suggestion from what I've experienced -
1- Setup up a broker account and put your "mentor money" in it.
2- Start trading the virtual platform your broker offers.
3- Do not go live until your virtual trading is positive.
4- Spend your time reading threads, picking up tidbits, trying out methods, try to identify and establish your own style / trading system.
5- As mentioned in several posts, paying for advice has several pit falls. Save your money.
6- Use this forum for advice and questions.
Those are the basics I've come to surmise after lots of attempts to do just what your doing.
There is no short cut.
No one you pay will give you anything you can't learn on your own.
Your confidence will be best served if you learn how to trade on your own.
When you come out on the positive side, you will have a method that is unique to you and works for you.
These concepts seem to be present in most of what the more experienced members of this forum say. Take it to heart. Look for the common thread. Believe what you read here not the hype you see out there. It will save you a lot of money. Alot.
Be well. Trade Smart.
rathcoole_exile
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both Oscar (livewithoscar.com) and Carter (tradethemarkets.com) offer very useful FREE daily videos which can be a great starting point in your education
