Looking for a Mentor - NYSE / Nasdaq Stock Trader - Day or Swing Trading

This is a discussion on Looking for a Mentor - NYSE / Nasdaq Stock Trader - Day or Swing Trading within the Educational Resources forums, part of the Commercial category; Hello Everyone, I am looking for a mentor, someone who would be kind enough to help me in this endeavour. ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Apr 14, 2007, 5:55am   #1
Joined Dec 2005
Looking for a Mentor - NYSE / Nasdaq Stock Trader - Day or Swing Trading

Hello Everyone,

I am looking for a mentor, someone who would be kind enough to help me in this endeavour. Having taken the full day trading course including Nasdaq level II by Richard Joyson (Mr. Charts) I am still not able to trade successfully. To date I have blown up 2 accounts and cannot afford to lose any more.

My day with Mr.Charts was good, believe me it was'nt easy to part with £1260 of my hard earned cash but when it came to giving it away to someone for a day to help me make it in this business i did'nt have a choice. You see i have read many books and ebooks on the subject and all talk around the same ideas of money management and TA. What I thought was if i could gain some knowledge from an experienced professional and learnt all there was to know about the profession than I would make it.

Unfortunately the end result was not what I hoped for, the day was good and I understood everything that was laid out in the manual and explained, the trade setups, supply/demand on level II / time and sales etc., I even passed the quiz will flying colours. However, when approaching the market with a live account I was reading another story.. as you may have guessed things on paper looked good but when I approached the market with the expectation of making money, the market did'nt always follow through. Trade after trade after trade, when all went wrong I started over-trading and finally I had to give it a HOLD and step back. I tried to give it another attempt and the same thing happened again.

What I feel i am lacking is hands on experience.. I know it is not easy to find a mentor, someone who is willing to teach as most successful people have busy schedules and other interests. I am really looking for someone who trades for a living and would not hesitate passing on his/her knowledge and wisdom. I believe trading is not about a method, its about making decisions and to be able to make more good decisions than bad I need help from a mentor, he/she should be open to me about the profession and how they work in the market, what to expect in a more practical sense than written on paper. I would like to be able to watch my mentor trading live, one may not chose to disclose their track record or broker statements for personal reasons which is perfectly fine with me. All I want is to have the confidence in myself that I am heading in the right direction learning from a successful person. I am willing to give it as long as it takes to make it in this business with the right mentor. I would like to be able to watch the trader whenever possible and the mentor to watch me while I make trade decisions and correct my mistake just like how one starts out learning to drive.

I believe what I am looking for cannot be achieved in a day or 2, naturally it will take time for me to pickup things and start out slowly again. I am sure many successful people out there followed the same path when starting out and received help from another great person and there is no doubt that there are a few self made people in this business who are doing well, some some trading and others teaching.

We all know that we don't live forever but knowledge and wisdom is passed on to another so if I make it some day I would not hesitate helping another because once I was at the same stage and was looking for help and some great person made all the difference.

If there is anyone who is genuinely interested who (may or may not want to charge a fee) please pm me and I will be happy to discuss "what I think I know about trading" and answer all your questions. I live in Wellingborough, and travel Milton Keynes to work usually working night shifts. It took me a while to find a job which offers me the opportunity to trade in the day time and as I only work half a month I have plenty of days which I can spend in the market with a mentor/someone who is willing to help.

No offence to Mr. Charts, in theory he may have taught me what is required to know but the lack of experience in driving the vehicle is driving me crazy.

God Bless
TraderAli is offline   Reply With Quote
Thanks! The following members like this post: pssonice , clicksta
Old Apr 14, 2007, 9:49am   #2
 
Grey1's Avatar
Joined Jun 2002
Quote:
Originally Posted by TraderAli
Hello Everyone,

I am looking for a mentor, someone who would be kind enough to help me in this endeavour. Having taken the full day trading course including Nasdaq level II by Richard Joyson (Mr. Charts) I am still not able to trade successfully. To date I have blown up 2 accounts and cannot afford to lose any more.

My day with Mr.Charts was good, believe me it was'nt easy to part with £1260 of my hard earned cash but when it came to giving it away to someone for a day to help me make it in this business i did'nt have a choice. You see i have read many books and ebooks on the subject and all talk around the same ideas of money management and TA. What I thought was if i could gain some knowledge from an experienced professional and learnt all there was to know about the profession than I would make it.

Unfortunately the end result was not what I hoped for, the day was good and I understood everything that was laid out in the manual and explained, the trade setups, supply/demand on level II / time and sales etc., I even passed the quiz will flying colours. However, when approaching the market with a live account I was reading another story.. as you may have guessed things on paper looked good but when I approached the market with the expectation of making money, the market did'nt always follow through. Trade after trade after trade, when all went wrong I started over-trading and finally I had to give it a HOLD and step back. I tried to give it another attempt and the same thing happened again.

What I feel i am lacking is hands on experience.. I know it is not easy to find a mentor, someone who is willing to teach as most successful people have busy schedules and other interests. I am really looking for someone who trades for a living and would not hesitate passing on his/her knowledge and wisdom. I believe trading is not about a method, its about making decisions and to be able to make more good decisions than bad I need help from a mentor, he/she should be open to me about the profession and how they work in the market, what to expect in a more practical sense than written on paper. I would like to be able to watch my mentor trading live, one may not chose to disclose their track record or broker statements for personal reasons which is perfectly fine with me. All I want is to have the confidence in myself that I am heading in the right direction learning from a successful person. I am willing to give it as long as it takes to make it in this business with the right mentor. I would like to be able to watch the trader whenever possible and the mentor to watch me while I make trade decisions and correct my mistake just like how one starts out learning to drive.

I believe what I am looking for cannot be achieved in a day or 2, naturally it will take time for me to pickup things and start out slowly again. I am sure many successful people out there followed the same path when starting out and received help from another great person and there is no doubt that there are a few self made people in this business who are doing well, some some trading and others teaching.

We all know that we don't live forever but knowledge and wisdom is passed on to another so if I make it some day I would not hesitate helping another because once I was at the same stage and was looking for help and some great person made all the difference.

If there is anyone who is genuinely interested who (may or may not want to charge a fee) please pm me and I will be happy to discuss "what I think I know about trading" and answer all your questions. I live in Wellingborough, and travel Milton Keynes to work usually working night shifts. It took me a while to find a job which offers me the opportunity to trade in the day time and as I only work half a month I have plenty of days which I can spend in the market with a mentor/someone who is willing to help.

No offence to Mr. Charts, in theory he may have taught me what is required to know but the lack of experience in driving the vehicle is driving me crazy.

God Bless

Ali,

You should understand that Mr Chart's strategy could still work for others and not for you and your discipline and emotion could be your problem. So I would be careful blaming him , saying that I still think mentors who avoid live trading are losers.

I have had many many traders from this board, ( TRADER333, LEVII, IAN,FIBBO,EW1,BLUECHIP,GLENN ...... ) and many many more in my house where we spent 9 hours talking about trading strategies and we traded the market live on my account and in all meetings we managed to make money by the end of the day .

I have few guests here from abroad and they be here for the next two weeks , after that I might invite you for a day with myself with one thing Guaranteed .. I TRADE LIVE and We SHALL MAKE MONEY BY THE END OF THE DAY ( I know it sound cheeky but that is the way it goes .. ) and in return you can send a cheque of £200 to a charity of your choice..

( you can also watch my 100% auotmated program trade trading the US market )

PS:-- Go to the home page and apply to JOIN TECHNICAL TRADER where we concentrate on more advanced trading strategies



Grey1

Last edited by Sharky; Apr 16, 2007 at 6:42pm. Reason: Edited to avoid misintepretation
Grey1 is offline Commercial chat room   Reply With Quote
Old Apr 14, 2007, 11:20am   #3
 
Mr. Charts's Avatar
Joined Sep 2001
Hello Trader Ali,
Just to correct any false impressions being given, not by you TraderAli, as you know I do LIVE courses all the time and I did offer that to you as well as all the LIVE alerts on my private web site.
You decided there were too many alerts for you personally on the site and also decided not to proceed with a LIVE course.
Over trading is the problem you have identified and from what you've said by email that remains the problem. Self-discipline is by far the biggest difficulty in trading and that applies to the vast majority of people so you are not alone in having to conquer that. I'm always very happy to advise you by email but it is that key ability and determination to sit on your hands and only take the high probability trades - and to exit without hesitation if they start to go wrong - which is the mountainous obstacle you need to overcome.
I shall always remember the day I drove up to your home for the wonderful hospitality of you and your wife.
Kindest wishes,
Richard
__________________
Mr. Charts
Full time US Share Trader
Follow me on Twitter twitter.com/MrChartsJoyson

Contributor to T2W's Trading FAQ Book
http://www.trade2win.com/books/trading-faqs

T2W interview

http://www.trade2win.com/knowledge/a...ichard-joyson/
Mr. Charts is offline Coach/Trainer   Reply With Quote
Thanks! The following members like this post: pssonice
Old Apr 15, 2007, 1:56am   #4
Joined Dec 2005
TraderAli started this thread
Quote:
Originally Posted by Grey1
Ali,

Avoid all mentors who are scared of live trading . I have heard the same story from others but best not to talk about it as it cause upsetness. Most of the mentors are Un- educated, losers but very cheeky to claim success

You should also understand that Mr Chart's strategy could still work for others and not for you and your discipline and emotion could be your problem. So I would be careful blaming him , saying that I still think mentors who avoid live trading are losers.

I have had many many traders from this board, ( TRADER333, LEVII, IAN,FIBBO,EW1,BLUECHIP,GLENN ...... ) and many many more in my house where we spent 9 hours talking about trading strategies and we traded the market live on my account and in all meetings we managed to make money by the end of the day .

I have few guests here from abroad and they be here for the next two weeks , after that I might invite you for a day with myself with one thing Guaranteed .. I TRADE LIVE and We SHALL MAKE MONEY BY THE END OF THE DAY ( I know it sound cheeky but that is the way it goes .. ) and in return you can send a cheque of £200 to a charity of your choice..

( you can also watch my 100% auotmated program trade trading the US market )

PS:-- Go to the home page and apply to JOIN TECHNICAL TRADER where we concentrate on more advanced trading strategies



Grey1

Hello Iraj,

Thank you for your kind offer, I know many here talk about you. Discussing with Paul, your approach to the market seems to make sense. With the hope to learn I will be looking forward to meeting you soon. Once again thankyou for your consideration.

regards

Ali
TraderAli is offline   Reply With Quote
Old Apr 15, 2007, 10:14am   #5
 
Grey1's Avatar
Joined Jun 2002
Quote:
Originally Posted by TraderAli
Hello Iraj,

Thank you for your kind offer, I know many here talk about you. Discussing with Paul, your approach to the market seems to make sense. With the hope to learn I will be looking forward to meeting you soon. Once again thankyou for your consideration.

regards

Ali
As soon as my guests gone you can come here where I will take you through techniques that keeps you away from trouble and if we did not make $$$ on the day using my approach to day trading I shall send a donation to Cancer research for the sum of $5000...

Business is business and it is time for people to realise there are millions of other traders watching the same chart pattern that you just noticed ( and paid loads of money to your mentor too ) and went long not knowing that GREY 1 shorted the same chart pattern ..


Grey1

Last edited by Grey1; Apr 15, 2007 at 10:20am.
Grey1 is offline Commercial chat room   Reply With Quote
Thanks! The following members like this post: mr.marcus
Old Apr 15, 2007, 10:24am   #6
 
3 Posts
Joined Apr 2007
Quote:
Originally Posted by Mr. Charts
Over trading is the problem you have identified and from what you've said by email that remains the problem. Self-discipline is by far the biggest difficulty in trading and that applies to the vast majority of people so you are not alone in having to conquer that. I'm always very happy to advise you by email but it is that key ability and determination to sit on your hands and only take the high probability trades - and to exit without hesitation if they start to go wrong - which is the mountainous obstacle you need to overcome.
1260 pounds for these words of wisdom.wow! what fanstastic value.

Its such a shame that so called mentors /trainers do not have the decency to warn novices forehand that trading is not for everyone and everything a trainer teaches you can be picked up from a good book.

NO! they have to Tell every Tom Dick and Harry that trading is easy and once they attend a few courses they will be fine.
There is only one word that describes trainers mentors and it begins with a S and ends with M
My greatest respects to Grey who does not need to adertise himself as a trainer,coach to live off other peoples backs.
honesty is offline   Reply With Quote
Old Apr 15, 2007, 11:15am   #7
 
Grey1's Avatar
Joined Jun 2002
Quote:
Originally Posted by linesniffer
Hi Trader Ali.

Please, please, please, do not pay any more tuition fees. £1260 for a day...was he dressed as Dick Turpin, mask included?

Go to Grey1, but for gods sake do not give him any money. Grey1 seems to think it's a fair deal that if he makes $1 he doesn't have to pay a charity £5K, very slimey, big ego too.

You've got the rest of your life to learn about the markets and find your own little place within them. Don't force it.

Good luck.

There are 10 pages for you to see how much Grey1 makes a day if you care to look at them ,BTW I make money out of weak traders in the market and not from mentoring . Up until this moment I have never ever been paid $$$ for mentoring .. Muchas Gracias lol

http://www.trade2win.com/boards/show...ighlight=olson

Grey1
Grey1 is offline Commercial chat room   Reply With Quote
Old Apr 15, 2007, 11:15am   #8
 
Lightning McQueen's Avatar
Joined Feb 2004
Im disappointed linesniffer, your post and the one above you, were a little ungenerous to say the least. I dont know these guys but they are known and respected members of this site - shame on you both
Lightning McQueen is offline   Reply With Quote
Thanks! The following members like this post: mr.marcus
Old Apr 15, 2007, 11:30am   #9
 
Grey1's Avatar
Joined Jun 2002
Hi all

Can I just stress again that Mr Chart strategy can be as effective as any 1 else but to be a trader it takes more than having an effective strategy ,, Discipline and the knowledge of risk control are two major elements in day trading .. if you donot have them then you have no future in this game no matter how many years experience of chart analysis you have .




Grey1
Grey1 is offline Commercial chat room   Reply With Quote
Old Apr 15, 2007, 12:21pm   #10
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Quote:
Originally Posted by honesty
1260 pounds for these words of wisdom.wow! what fanstastic value.

Its such a shame that so called mentors /trainers do not have the decency to warn novices forehand that trading is not for everyone and everything a trainer teaches you can be picked up from a good book.

NO! they have to Tell every Tom Dick and Harry that trading is easy and once they attend a few courses they will be fine.
There is only one word that describes trainers mentors and it begins with a S and ends with M
My greatest respects to Grey who does not need to adertise himself as a trainer,coach to live off other peoples backs.
Hi honesty,
Welcome to T2W.
Your comments are ones that most people would agree with but, just to set the record straight, they don't apply to Mr. Charts. Or at least they shoudn't. As you're new to the forum, there's no way that you could be expected to know this, so my post isn't a criticism of you. However, others might infer from your comments that they are indeed directed at Mr. Charts - which would be quite wrong and a grave miscarriage of justice. Richard makes it crystal clear that he teaches how he trades and, as Iraj points out, his methods are very successful. That TraderAli has difficulty in duplicating Richard's results appears to be a result of his own self-disciple issues rather than there being anything intrinsically wrong in Richard's methodology. I may be wrong, but I suspect that he will still have the same problems even after spending a day with Iraj. The merits or otherwise of one coach / mentor versus another are not really the issue here. What matters - and this is his real barrier to consistent profits, is that TraderAli is able to resolve his discipline issues. Until he does this, he's always going to struggle, regardless of the genius and methodology of the mentor / coach.
Tim.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is online now   Reply With Quote
Old Apr 15, 2007, 4:08pm   #11
 
3 Posts
Joined Apr 2007
Thankyou Tim for your gracious welcome,
Sorry about being blunt but my remarks apply to all coaches, Trainers.
I worked as an analyst for a firm that employs traders and when prospective traders want a Job with us they are evulated and then told quite bluntly whether they are any good or not.
THERE ARE NO COACHES OR MENTORS IN THE CITY
Any trader who actually trades would have the decency to point any novice in the right direction and if really necessary charge them something to recover any costs they might have incurred.

Any new entrant to trading that manages to survive knows that he got to that position by his own endeavours and if he did go to any of the courses/seminars/paying mentors at the begining was a complete waste of time and money
charging for COACHING MENTORING is a con scheme to prey on the guillible new entrants and this site should discourage this advertising
What are these coaches qualifications anyway?
None of the Coaches who advertise here would get a job with my company!
honesty is offline   Reply With Quote
Thanks! The following members like this post: Paul71
Old Apr 15, 2007, 4:56pm   #12
Joined Jul 2006
Quote:
Any new entrant to trading that manages to survive knows that he got to that position by his own endeavours and if he did go to any of the courses/seminars/paying mentors at the begining was a complete waste of time and money
You hit the nail right on the head with that remark.

IMHO !
yacarob1 is offline   Reply With Quote
Old Apr 15, 2007, 5:53pm   #13
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Hi honesty,
No need to apologise for being blunt. Blunt replies are fine by me so long as they are polite and respectful - which yours is. That said, I'm mystified by one of your comments and disagree with others! The mystifying one first:
Quote:
Originally Posted by honesty
THERE ARE NO COACHES OR MENTORS IN THE CITY
This implies that all traders are self taught which clearly isn't the case. I don't believe that trading is any different from any other profession. Newbie's learn the basics at uni' and/or on the job as a trainee under the watchful eye of someone more experienced. Sure, in time they develop their own way of doing things but, at the start, they take their lead from others. As private retail traders, there are few formal university type courses available and we don't have access to the enviable recourses of city institutions. So, if we want 1-2-1 coaching, we go to those offering the service. Some are good and some are crooks. This leads me on to:
Quote:
Originally Posted by honesty
charging for COACHING MENTORING is a con scheme to prey on the gullible new entrants and this site should discourage this advertising
What are these coaches qualifications anyway?
None of the Coaches who advertise here would get a job with my company
Branding all coaches/mentors as a 'con scheme' is little short of outrageous. The fact that you don't value them is fine, but it doesn't mean that they're all con merchants. Besides which, just as beauty lies in the eye of the beholder, surely their value can only be determined by the student following the tuition? I've had 1-2-1 tuition with three coaches and I learnt a great deal from all of them, including one who many here would regard as a 'con merchant'. As for the qualifications of these coaches, that's up to the student to check out for him/herself. As far as I'm concerned, there's only one qualification that really matters - can they make consistent and sustained profits in the markets doing what they teach. Mr. Charts has demonstrated time and again beyond a shadow of a doubt that he fulfils this most basic of requirements. If your company would rather employ some student grad' with a bunch of letters after their name in preference to Mr. Charts - or Grey 1- or Naz - or mr marcus to name but a few, then good luck to you. In truth, I very much doubt that any of the above would want to work for you anyway - or any other firm for that matter - because they can do infinitely better one their own trading their own accounts.
Tim.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is online now   Reply With Quote
Old Apr 15, 2007, 8:00pm   #14
 
3 Posts
Joined Apr 2007
[Branding all coaches/mentors as a 'con scheme' is little short of outrageous

Timsk,
Had you read my post and you would have noticed that I said a lot if not most applicants are rejected as they were unsuitable to become traders.

Yes, there is training scheme for traders and believe me I know people who have been through it.
With regard to the names you mention yes there is no way that they would get a job as trainers coaches as there is no coach sitting there correcting your mistakes when you make them. There is a head trader who is generally a real mean, nasty piece of work .And God help you if you get it wrong.He does not sit there mentoring you like an old aunt saying "Don't worry sweetie it will be ok next time" he makes a quevering wreck of you
After an initial period, you are given an account to trade and if you are no good you are out before you know it.
This is why there is such a tough selection procedure for traders.
And most of the coaches try and make it sound like the sweet ,old aunt apporach.

I also know of people who have applied to city firms, have been rejected, and then against the better judgements of the firms have gone to the "coaches" to learn.
No I will not mention any names but yes there are amongst the ones you mention

After spending 1000's on these courses and losing 1000's they still get emails from these coaches inviting them to more classes.
like I mentioned yes there are some altruirstic ones but the majority even the ones who advertise here are swindelers.
I am sure they are great traders and do a wondeful job trading.
But are they honest enough to tell prospective clients that maybe trading is not for them.
I think not
There is no moral fibre in saying to people "You are one of the few who I think will make it in trading"
knowing they will not make it as traders.

Last edited by honesty; Apr 15, 2007 at 9:40pm.
honesty is offline   Reply With Quote
Old Apr 15, 2007, 8:03pm   #15
Joined Dec 2003
I think one of the key problems regarding the area of trainers and mentors lies in the expectations of those 'attending' the trainer.

It is fool hardy to expect to attend a trainer and then commence trading with success - there is a road and that road is experience.....

I am sure there are good and bad trainers, like any discipline, however, research in identifying the good from the bad is the responsibility of those 'attending'.

I for one think there is real value to be had from attending a good trainer, but that value is not in terms of 'grails' but instead of 'time', the information attained from a good trainer, can save you many, many hours and thus incremental cost in providing advice regarding software to use, set-ups to work on, money mangement to study, sites to access, brokers to use, maybe access to trading networks, hardware etc. etc.

I have myself attended trainers and coaches in my time, and fwiw, I had to realise this very point also......

Regards
vegas is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Day to Day life of a trader. lususnaturae Trading Firms 8 Apr 15, 2011 12:37pm
Day to Day life of a trader lususnaturae Home Trader 7 Mar 12, 2011 8:47pm
Swing/position/trend trading NASDAQ stocks pb Stocks 6 Nov 3, 2007 1:46pm
5 times buying power for Nasdaq/NYSE trading handelaarx Brokerages 4 Apr 21, 2006 3:30pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)