Help please! Need advice from professional traders only

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Old May 7, 2018, 12:43pm   #1
Joined Sep 2014
Help please! Need advice from professional traders only

Hey all.

I want to try purchasing a trading course, trading strategy, mentorship, that kind of thing.

I know how much garbage is out there. I assume that most of them that sell their strategies is because they cant make enough money from the strategies themselves.

Those who can't, teach. And all that.

I would like to know from any of the pro's if they have ever bought mentorship, educations, strategies etc.? and what their experience was.

I'm particularly looking for good experiences and recommendations. Not so much negative ones, as I'm sure there will be plenty.

Let me know what you advise.

Thanks
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Old May 7, 2018, 1:05pm   #2
 
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What's your definition of a professional trader? I'm sure you'll find plenty of highly experienced traders willing to give you advice on this site, but I don't think they would label themselves as 'professional'.
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Old May 7, 2018, 1:54pm   #3
Joined Feb 2002
I have bought formal training in the past, but this was confined to the principles of TA as applied to long-term trading, plus some basic stop-loss rules etc. It wasn't offered as a cohesive trading strategy and didn't go near corporate fundamentals, economics, forex, commodities, financial products, market access etc. etc.

The reasoning for this (and for me positively recommending it now) was that -

1) TA can be applied to any market and any time-frame once you know the principles

2) you don't need massive fundamental/economic knowledge in order to trade successfully

3) you don't need (and should not attempt) a complicated strategy to trade successfully

4) if you have understood TA, you can develop a strategy in about an hour: you can also pick up a free strategy or a book-based strategy and assess whether it will work for you, in your life-style, in your market, and with your account.

Do learn TA, whether through a training course or self-learning. Don't pay for a strategy.
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Thanks! The following members like this post: IceMan , Lee Shepherd , Tytus_Barnowl
Old May 7, 2018, 5:30pm   #4
 
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Joined Feb 2008
Quote:
Originally Posted by Daniel Lummis View Post
Hey all.

I want to try purchasing a trading course, trading strategy, mentorship, that kind of thing.

I know how much garbage is out there. I assume that most of them that sell their strategies is because they cant make enough money from the strategies themselves.

Those who can't, teach. And all that.

I would like to know from any of the pro's if they have ever bought mentorship, educations, strategies etc.? and what their experience was.

I'm particularly looking for good experiences and recommendations. Not so much negative ones, as I'm sure there will be plenty.

Let me know what you advise.

Thanks
Hi Daniel,

I’ll see if I can give you some pointers. Come back to me with the following:

What trading instruments are you interested in?
A little about your trading history?
Your motivation for choosing this as a career?

Lee
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Old May 12, 2018, 5:58pm   #5
Joined May 2013
Things you can be and need to be taught with accuracy.:
What does each candlestick, bar or whatever you use actually mean in terms of price action.
What really moves the Market(s) and influences potential future moves.
The type of Orders, how to place them with accuracy.
Spread or Comissionand how it is involved in risk management.
What indicators are available and also what they really mean.

The above is around about 30% of the knowledge required to consider trading on whatever level. This is why it can be taught. The remainder is business planning, self examination and evaluation strategy. I can break these down into components but as a taster on self examination get a big sheet of paper, split into 2 columns, in the right column record all the things you are good at (strengths) with proven examples, then on the left column write down all your faults (weaknesses) with honest examples (remember no experience to risking financial losses is a huge fault). If you are honest with yourself your weaknesses will fourfold outway your strengths. If you have difficulty with this single act then forget about trading. Self esteem and ego will allow the markets to destroy you.
Nobody is offering you a whizz of a time as they do in expos, some of the bimps in miniskirts are dressed up for a reason and that is to take your money. They used to wander around places like Soho doing the same or so I am told. There, I've given you a huge clue.
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Old May 14, 2018, 5:00pm   #6
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Quote:
Originally Posted by tomorton View Post
I have bought formal training in the past, but this was confined to the principles of TA as applied to long-term trading, plus some basic stop-loss rules etc. It wasn't offered as a cohesive trading strategy and didn't go near corporate fundamentals, economics, forex, commodities, financial products, market access etc. etc.

The reasoning for this (and for me positively recommending it now) was that -

1) TA can be applied to any market and any time-frame once you know the principles

2) you don't need massive fundamental/economic knowledge in order to trade successfully

3) you don't need (and should not attempt) a complicated strategy to trade successfully

4) if you have understood TA, you can develop a strategy in about an hour: you can also pick up a free strategy or a book-based strategy and assess whether it will work for you, in your life-style, in your market, and with your account.

Do learn TA, whether through a training course or self-learning. Don't pay for a strategy.

good advice from Tom .......you can get started with some very robust strategies from the basics above ..

most traders then learn and absorb as they go .....most journeys end up a little random at times as you experiment and research different things ....

but the trading research we do is a little like the path that a famous inventor once said ...(Edison i think)

each experiment I conduct that fails is not deemed a failure by me ...it simply moves me one experiment closer to finding the correct formula !

N
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Old May 16, 2018, 6:49am   #7
 
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Thanks, nice and informative post. I wanna know what is the best Risk/Reward ratio while trading a $1000 account? Can anyone please guide?
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Old May 16, 2018, 1:40pm   #8
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Originally Posted by Sarah Robertson View Post
Thanks, nice and informative post. I wanna know what is the best Risk/Reward ratio while trading a $1000 account? Can anyone please guide?
That isn't dependent on account size but rather individual trades.

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Old May 16, 2018, 3:03pm   #9
 
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Originally Posted by Sarah Robertson View Post
Thanks, nice and informative post. I wanna know what is the best Risk/Reward ratio while trading a $1000 account? Can anyone please guide?
You have no control over your reward unless you cut your profits short. You have control only over your risk. Your risk will be determined chiefly by determining the likelihood that your trade will succeed vs the likelihood that it will fail. This determination will take work. The account size is irrelevant. More important will be understanding how and why price moves (see Trading Price and The Wyckoff Method).
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Old May 16, 2018, 3:21pm   #10
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Quote:
Originally Posted by Sarah Robertson View Post
Thanks, nice and informative post. I wanna know what is the best Risk/Reward ratio while trading a $1000 account? Can anyone please guide?
As mentioned by previous trader.....the secret to good trading is 100% focus and execution on what you can control......trying to manage everything else like risk reward ratios is a waste of time and energy

N
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