Can You Recommend a Mentor, Coach or Trading Course?

This is a discussion on Can You Recommend a Mentor, Coach or Trading Course? within the New to Trade2Win forums, part of the Reception category; I mentor people for free....

Reply
 
LinkBack Thread Tools Search this Thread
Old Apr 15, 2017, 3:15am   #73
Joined Apr 2017
I mentor people for free.
tradingdojo is offline   Reply With Quote
Old Sep 28, 2017, 7:17am   #74
 
3 Posts
Joined Sep 2017
I think you've understated how much effect a mentor can have on a new trader.

1) They can give you a strategy that actually works..finding one yourself through trial and error is going to take ages and you're probably going to quit before it happens.
2) They will show you exactly how they do it, from where to find the stocks in play to the actual execution. Basically you can get a process that you need to follow.
3) You will be guided to avoid mistakes that you would otherwise make on the expense of your bank account.

I would say that a mentor can increase a beginner trader's chances of success by at least 5x.

Now the tricky part is finding someone that could actually do all those things for you
paulkoger is offline Trading arcade or proprietary trading company   Reply With Quote
Old Sep 29, 2017, 12:29am   #75
 
Quantt's Avatar
Joined Jul 2017
Quote:
Originally Posted by paulkoger View Post
I think you've understated how much effect a mentor can have on a new trader.

1) They can give you a strategy that actually works..finding one yourself through trial and error is going to take ages and you're probably going to quit before it happens.
2) They will show you exactly how they do it, from where to find the stocks in play to the actual execution. Basically you can get a process that you need to follow.
3) You will be guided to avoid mistakes that you would otherwise make on the expense of your bank account.

I would say that a mentor can increase a beginner trader's chances of success by at least 5x.

Now the tricky part is finding someone that could actually do all those things for you
Who is the crazy one? Or wait, maybe the crazy one is the newbie who'll spend all the money and the "mentor" is going to be laughing all the way to the bank...
__________________
"If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett, CEO of Berkshire Hathaway.

My number 1 trading rule: EDUCATE YOURSELF!

Before you trade even single penny on the stock market, please spend the time and educate yourself by back testing different trading strategies and ideas - go to eBay and search for "historical stock market data", you can buy 20 years of data for less than $100 - that's all you need to start.
Quantt is offline   Reply With Quote
Old Oct 17, 2017, 11:18am   #76
Joined Sep 2006
Price moves because of buying and selling volume coming in and out of the market in different forms (limit orders, buying selling at market price) at key levels where liquidity lies.
A successful trader understands what levels to look for where liquidity is likely to be resting, watching the price and volume relationship to gauge whether price will reverse or continue in order to enter.

Forex is a bust because there is no volume reading. Futures is the only way forward if you want to see volume. A friend of mine used to run an fx brokers in the US (you know MT4 etcetc) and did very well before his dodgy partner messed things up. His quote always resonates: "I've never met anyone trading fx who makes any money."

Of course there ARE people out there in fx that make money. But they are few and far between and will most likely have institutional experience.

If you want training then your first bet is to make sure you look at futures, volume/market profile and auction market theory. The latter term basically means "how volume and price interact with each other at different levels."
bootsyjam is offline   Reply With Quote
Old Oct 17, 2017, 12:55pm   #77
Joined May 2012
Quote:
Originally Posted by bootsyjam View Post

Of course there ARE people out there in fx that make money. But they are few and far between and will most likely have institutional experience.
I agree that fx traders with institutional experience have a leg up because of the tools they use. Fx price movements are driven by economic news and data. Those traders have Bloomberg terminal or Reuters Elkon.
Brumby is offline   Reply With Quote
Old Oct 18, 2017, 2:13pm   #78
Joined Sep 2006
Quote:
Originally Posted by Brumby View Post
I agree that fx traders with institutional experience have a leg up because of the tools they use. Fx price movements are driven by economic news and data. Those traders have Bloomberg terminal or Reuters Elkon.
If they are not part of the interbank liquidity pool that is responsible for placing massive spot fx orders in for sovereign wealth funds/hedge funds/companies, and don't have the front end tools to analyse this volume, then all the terminals in the world won't be much help.
bootsyjam is offline   Reply With Quote
Old Oct 18, 2017, 3:10pm   #79
FXX
Joined Oct 2017
Quote:
Originally Posted by bootsyjam View Post
If they are not part of the interbank liquidity pool that is responsible for placing massive spot fx orders in for sovereign wealth funds/hedge funds/companies, and don't have the front end tools to analyse this volume, then all the terminals in the world won't be much help.
You don't need access to order flow information to make money in fx. I have several friends that trade for either hedge funds,investment banks, or privately (leaving their firm) and they have shown me exactly how they do it and it doesn't involve order flow data. All their trading strategies revolve around fundamental analysis for opportunities after which they employ basic technical analysis for entry\stops\targets.
FXX is offline   Reply With Quote
Thanks! The following members like this post: Brumby
Old Oct 18, 2017, 11:06pm   #80
Joined May 2012
Quote:
Originally Posted by FXX View Post
You don't need access to order flow information to make money in fx. I have several friends that trade for either hedge funds,investment banks, or privately (leaving their firm) and they have shown me exactly how they do it and it doesn't involve order flow data. All their trading strategies revolve around fundamental analysis for opportunities after which they employ basic technical analysis for entry\stops\targets.
I completely agree with your view provided you are trading FX and not stocks. I had to re-tool my whole trading approach to FX once I understood how institutional traders were approaching it. The problem I think is because most trading books are written by retail traders. Basically retail traders approach from the premise of "how" and not "why" in positioning trades.
Brumby 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
EOD coach/mentor Cigar Educational Resources 3 Apr 23, 2017 11:38am
trading coach nevets24 Forex 6 Jun 25, 2010 2:37pm

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