Mentors and Intra Day Traders

[sigmund1]

Gann mentor.

On the internet I find that Gann Management out of Stockport have gone bust.

The receivers were called in, so much for their mentoring, they couldn't even mentor themselves!

I attended one of their 2 day seminars at the country club, it was a joke!

Surprising though just how many people were taken in by it all, like lambs to the slaughter.

One of Fred Staffords female employees advised me to up grade my room to one that had a jacuzzi. I followed her advice.

She later proceeded to show me how to fill it up.

The seminar was rubbish but the customer care was excellent!

 

[wallstreetwarrior87]

This reminds me of a post I came across on this site in the past..the poster was saying that he paid a certain person on this site over 1,000 pounds for a course on daytrading US stocks..but..even though he has not made any money from the methods he was shown..it was not the mentors fault

how silly can people be..imagine that person could not even see how ridiculous his statement was..of course it is the mentors fault..as..it is the mentors job to make sure that you understand what it is you need to do..and more importantly..show you how to go about turning words into actions..and actions into profits

a bad teacher is one who can not show the student the best and correct way to learn what is required..and who fails to recognize why the student is not progressing

most are clueless when it comes to making money trading..hence that is why they are bad teachers

Good points, but in reality no one likes to hear what really needs to be done, and also the teacher does not always understand the importance of where we are as a person, and the weaknesses we have in our personality/ and have to overcome to be able to even stand a chance in trading.

Not many people would go on a trading course that did not talk about, or show you how to trade. But in reality, from evidence I have seen the courses needed to be taken should be about understanding who we are/why we do what we do/why we desire what we desire etc.

Sounds like waffle but this is the key ingredient, but most would rather rush into this having learnt a few rules, but are oblivious to the fact they will never be able to follow them because they do not possess what is needed to begin with. This is through natural ignorance, and it is nothing to be ashamed of, but what is to be ashamed of is conscious declaration that you don't think you need/require these traits before getting stuck in.

Then, when you step into the ring, you will realise what you seek is to be able to test and improve yourself, as a a system/method will NOT hide our shortcomings.

This will only relate to those with experience, but if others chose not to listen or open their mind, then at least no one can say others did not try to help.


By the way, to join the armed police, or traffic police, we don't just get given a gun/car and told to get on with it. What do we think goes on behind the scenes before any individual is selected to possess these roles? Trading is no different.

Of course I could always go to a gun club, and after an hour I will be ready to roll!

 

[Lúidín]

Good points, but in reality no one likes to hear what really needs to be done, and also the teacher does not always understand the importance of where we are as a person, and the weaknesses we have in our personality/ and have to overcome to be able to even stand a chance in trading.

Not many people would go on a trading course that did not talk about, or show you how to trade. But in reality, from evidence I have seen the courses needed to be taken should be about understanding who we are/why we do what we do/why we desire what we desire etc.

Sounds like waffle but this is the key ingredient, but most would rather rush into this having learnt a few rules, but are oblivious to the fact they will never be able to follow them because they do not possess what is needed to begin with. This is through natural ignorance, and it is nothing to be ashamed of, but what is to be ashamed of is conscious declaration that you don't think you need/require these traits before getting stuck in.

Then, when you step into the ring, you will realise what you seek is to be able to test and improve yourself, as a a system/method will NOT hide our shortcomings.

This will only relate to those with experience, but if others chose not to listen or open their mind, then at least no one can say others did not try to help.


By the way, to join the armed police, or traffic police, we don't just get given a gun/car and told to get on with it. What do we think goes on behind the scenes before any individual is selected to possess these roles? Trading is no different.

Of course I could always go to a gun club, and after an hour I will be ready to roll!

Trading is not like anything else that most have tried..hence why so many find it so hard.

Back in the good old days..Socco received lots of bad press about his methods for how he gave his course on trading Futures..during the course..he would blindfold a participant in front of others and ask him some trading related questions..and not take off the blindfold until the answers given were correct..a bit harsh even for me..but I can see where he was coming from

I often thought of giving some evening courses in relation to trading..and how I would go about it in relation to getting the main points that matter thru to the participants..and..the first thing I would say to all who attented..would be as follows..

this course has absolutely nothing to do with you trying to copy what any other person has done..famous or infamous..be it in relation to Fundamental or Technical Analysis..and if any person here is not willing or able to accept this then I suggest that you leave the room now and go elsewhere to try and learn about making money trading

this course will be all about the way you need to approach any financial market..why you need to understand the basics of finance..the intricate details of the market you choose to trade..why you will lose money at the start..and what you need to do to stop you losing too much as you gain the required experiences

the amount of time it will take you to become profitable..will be in direct proportion to how serious you are about trading..your time commitment..and your family and work circumstances

it will be one the hardest things that you will ever try to accomplish..but the benefits are such that it will be well worth your time and effort..should you have the temperament to stick with it..which most do not have

the first thing we will cover is......

 

[Lúidín]

On the internet I find that Gann Management out of Stockport have gone bust.

The receivers were called in, so much for their mentoring, they couldn't even mentor themselves!

I attended one of their 2 day seminars at the country club, it was a joke!

Surprising though just how many people were taken in by it all, like lambs to the slaughter.

One of Fred Staffords female employees advised me to up grade my room to one that had a jacuzzi. I followed her advice.

She later proceeded to show me how to fill it up.

The seminar was rubbish but the customer care was excellent!

We all done it..so do not think you are the only stupid person out there

Unfortunately..very few have the ability to show that what they speak about is in fact the best way to approach trading..and even fewer know what actually is the best way.

Imagine a service advertised on the internet as follows..

we guarantee to show you how to not lose too much money when you start trading..you can expect the losers to continue for at least 6 months to 2 years..depending on how frequently you trade..we will not show you anything about how to win

Do you think any idiot would part with his/her money for that service

 

[Lúidín]

actually..Socco would tie the person to a chair and then blindfold the person..and not remove the blindfold and the ropes until the person got the answers correct!

 

[itspossible]

actually..Socco would tie the person to a chair and then blindfold the person..and not remove the blindfold and the ropes until the person got the answers correct!

thanx 4 the info

 

[Lúidín]

The Irish never tell lies, well, the real Irish that is:cheesy:

http://www.financial-betting.org/about/

Btw, she really knows very little about daytrading.

 

[Inquisitor]

Is that you Lúidín as the "Irish" new follower this week?

 

[Lúidín]

Is that you Lúidín as the "Irish" new follower this week?

Nope..i seen that last night..also seen that most of her followers are from USA..very few from GB.

She learned the saleswoman pitch from Socco

Socco had me laughing with his stories of how he traded in a bunker at his house..and it was all booby trapped in case anyone tried to steal his secrets..i looked him up last night..and i see he is back into the financial world in Gibraltar..he has some good experience..but i never got interested in his VSA studies..as much easier ways to trade

As for the lady trader/investor..well..let's just say that she will never get any of my money:cheesy:

 

[sigmund1]

It's in the Genes.

Why do so many lose at day trading?

Easy...Almost all humans are hardwired to lose.

It's in the genes.

They can't help it.

Let your profits run and cut your loses.

Ain't going to happen.

 

[sigmund1]

Isaco

I love these 2 guys.

The brothers Paul and Stephen Sutherland.

Their company, ISACO.

All you have to do is pay them £3000 a year and they will allow you to watch them buy and sell mutual funds.

Their sales pitch is...you can out perform buy and hold.

You sell when the markets go down and buy when they go up.

They're so confident in their abilities they even post their performance results on their web site.

But there's a problem.

And it's a BIG PROBLEM.

Anyone dopey enough to have followed their flawed advice is now under performing the BUY and Hold approach by a country mile.

So what did this dynamic duo actually sell?

An illusion coupled with moronic stupidity, injected with arrogance wrapped in ignorance.

And it only cost £3000 per year to find that out.

 

[foroom lluzers]

Everyone has the right to waste their money anyway they see fit.

But really how dumb is dumb.

Years of solid scientific unbiased evidence clearly shows that Day Trading is a losers game.

Most go bust sooner, in the end all go bust.

Don't take my word for it, this information is free on the internet.

So how come multitudes of mug gamblers still don't get the message.

Keep in mind your friendly day trading Mentor asking £1000 for a crash day trading course is in all probabilities a Failed Day Trading Gambler Holic.

Not interested in wealth creation but rather topping up their gambling account for that instant adrenalin rush that feels soooo goood.

As our Nan say's, society wouldn't function without fools and nor would the markets.

Define day trading and compare it with placing bets on a roulette wheel.
Add in emotions ,stress ,biases , beliefs and human handicap in processing information , then add in the probability of price behaving in the trader's desired way i.e up,down or does nothing (33%) , add in equation "market ranges 80 % of the time , it rarely trends " ...... add in human behaviour is based on certainties but markets are uncertain , add in how humans hate losing and their consequential behaviour , after a few losses .

Toss a coin on roulette wheel and look for a certain outcome /behaviour of spinning wheel.

What are the odds of being a successful day trader?

 

[verial]

Define day trading and compare it with placing bets on a roulette wheel.
Add in emotions ,stress ,biases , beliefs and human handicap in processing information , then add in the probability of price behaving in the trader's desired way i.e up,down or does nothing (33%) , add in equation "market ranges 80 % of the time , it rarely trends " ...... add in human behaviour is based on certainties but markets are uncertain , add in how humans hate losing and their consequential behaviour , after a few losses .

Toss a coin on roulette wheel and look for a certain outcome /behaviour of spinning wheel.

What are the odds of being a successful day trader?

How refreshing. I’m always surprised to meet someone who’s so objective about the market and the possibility of success. As you point out, success is more than a trading strategy; it’s the control over your own psychology.

 

[foroom lluzers]

How refreshing. I’m always surprised to meet someone who’s so objective about the market and the possibility of success. As you point out, success is more than a trading strategy; it’s the control over your own psychology.

Do you really believe that we can control our phsychology?Do you have a brain that is rational or emotional ?Is your amygdala regulated or irrational?:smart:

 

[dbphoenix]

How refreshing. I’m always surprised to meet someone who’s so objective about the market and the possibility of success. As you point out, success is more than a trading strategy; it’s the control over your own psychology.

Actually it's understanding, not control. Attempt to "control" your own psychology and you become your own enemy.

 

[foroom lluzers]

Actually it's understanding, not control. Attempt to "control" your own psychology and you become your own enemy.

The best solution is to find a method ,with least phsychological conflicts between human brain and trading , usually it has to be a mechanical method.

Understanding your own trading phsychology is a full time study course , equivalent to several years at a university.

 

[dbphoenix]

The best solution is to find a method ,with least phsychological conflicts between human brain and trading , usually it has to be a mechanical method.

Understanding your own trading phsychology is a full time study course , equivalent to several years at a university.

The method is irrelevant unless and until one figures out just what it is that he's afraid of.

 

[foroom lluzers]

The method is irrelevant unless and until one figures out just what it is that he's afraid of.

Dbp

I take this post as that from a phsychologist "who knows it all" .

With all due respect , not even the top trading phsychologists , no-one knows the solution.

Fear is the only issue , in your opinion , greed ,impulsive trading , the need to be right , stress , amygdala hijackings , revenge (emotions) trading , mistakes in trading , frustrations -anger-loss and many other emotions like the fear of missing out on entries/exits , patience /impatience etc etc are not phsychological issues according to your statement.

 

[dbphoenix]

Dbp

I take this post as that from a phsychologist "who knows it all" .

With all due respect , not even the top trading phsychologists , no-one knows the solution.

Fear is the only issue , in your opinion , greed ,impulsive trading , the need to be right , stress , amygdala hijackings , revenge (emotions) trading , mistakes in trading , frustrations -anger-loss and many other emotions like the fear of missing out on entries/exits , patience /impatience etc etc are not phsychological issues according to your statement.

All the things you list are manifestations of fear. You may find this article to be of interest.

 

[foroom lluzers]

All the things you list are manifestations of fear. You may find this article to be of interest.

I read the article , the article does not solve all the phsychological demons , fear is only part of the problem.The article needs to be rewritten ,by adding stress response .The O P needs to learn about stress response and how it affects traders.

We've all had those trading moments, whether just before making a trade entry or exit , when our minds have gone completely blank. The O P needs understanding why we have developed such a counterproductive (and embarrassing) response to stress.Stress is also caused by other issues in trading.

There is plentry of free knowledge about this subject on the net .