A reality call...

[tony1979]

There's a misguided and very damaging thought that exists on these types of forums, where wannabe traders are encouraged to believe that you can achieve all your trading dreams in isolation, and from the comfort of your home using free information from the internet....wake up and smell the bacon, you can't.

You'll get so far, but trust me when i say this, you need to know people who've proved themselves year after year to be consistently profitable through changing eras of political regimes, economic bubbles and busts, wars and social unrest. In case you didn't realise, those individuals who've prospered through these times (20 years+) are very few in numbers.

Do not waste any more time trying to do this on your own...i can testify from personal experience, that you need a mentor, or someone in a similar capacity. And no, the mentors/coaches you see on these boards are not the people i'm talking about. Do you really think they'd spend their time on trading forums!!?? Hopefully this will save someone some journey time.

Good luck.

 

[BILLV]

You've raised some good points there Tony.
I agree that there is no substitute for 1 to 1 coaching and like you said the free stuff can only get you so far.

At the end of the day it depends on the individual and how determined a person is in learning something well and to practice till he gets the technique perfect.

It also depends on your trading style because as I found out, if you do many frequent trades the spread costs can make a big difference to your profitability.

 

[pboyles]

Do you know a one to one trainer that could help?

 

[fayalac]

When i first started college, i mean the first day, i used to see those guys who were about to finish their studies and the first thing that came to my mind was "how the hell they can know all that????".
I wondered, how it was possible to understand all those things about economy, maths, statistics, management, accounting, finance, and......., some years latter, i was in my last months of college, i walk throughout the same way i walked at my first day and taught to myself, "after all, it was not impossible".
Everything tony, everything in this world is possible.
Even those coaches you talk from, they started somewhere and maybe they felt hopeless as you feel today.
If you work hard, you´ll make it...., i can tell you.
If you ask, i felt the same way you do when i started trading, after many years, a huge effort, hopelessness and everything else you can name, i win.

 

[traderman1]

Do you know a one to one trainer that could help?

I am sure that he is about to tell us.

 

[tony1979]

Do you know a one to one trainer that could help?

That would be up to the individual to find someone's achievements they want to replicate.

However, the traders i'm talking about would not have the time or motivation to take on "students", that's why you have to know them on a personal level.

 

[tony1979]

When i first started college, i mean the first day, i used to see those guys who were about to finish their studies and the first thing that came to my mind was "how the hell they can know all that????".
I wondered, how it was possible to understand all those things about economy, maths, statistics, management, accounting, finance, and......., some years latter, i was in my last months of college, i walk throughout the same way i walked at my first day and taught to myself, "after all, it was not impossible".
Everything tony, everything in this world is possible.
Even those coaches you talk from, they started somewhere and maybe they felt hopeless as you feel today.
If you work hard, you´ll make it...., i can tell you.
If you ask, i felt the same way you do when i started trading, after many years, a huge effort, hopelessness and everything else you can name, i win.

With the exception of Bobby Fischer and you it seems, all great people become successful after paying their dues and learning from the best in their respective fields. Trying to do it on your own is not advisable, and it certainly isn't free. Your positivity is a good thing, but that's just a prerequisite.

P.S - I'm not new to trading, I've been a full time trader for 7 years.

 

[new_trader]

That would be up to the individual to find someone's achievements they want to replicate.

However, the traders i'm talking about would not have the time or motivation to take on "students", that's why you have to know them on a personal level.

So, what you are saying is that it is impossible for someone to learn to trade on their own so they need to find an individual that they want to replicate.

But, it can't be any of the traders you are talking about because they don't have the time or motivation to teach strangers.

So, if an aspirant doesn't know any other trader on a personal level, they must either find a mentor who is willing to teach strangers, or, find a trader who isn't willing to teach strangers and then get to know them on a personal level.

Then, after weeks or months of wining and dining or whatever is required to get to know them on a personal level, you ask them to mentor you.

This has got to be the most convoluted, ridiculous and treacherous path to profitable trading I can think of.

 

[tony1979]

So, what you are saying is that it is impossible for someone to learn to trade on their own so they need to find an individual that they want to replicate.

But, it can't be any of the traders you are talking about because they don't have the time or motivation to teach strangers.

So, if an aspirant doesn't know any other trader on a personal level, they must either find a mentor who is willing to teach strangers, or, find a trader who isn't willing to teach strangers and then get to know them on a personal level.

Then, after weeks or months of wining and dining or whatever is required to get to know them on a personal level, you ask them to mentor you.

This has got to be the most convoluted, ridiculous and treacherous path to profitable trading I can think of.

You're getting confused with a very simple message; you need to know the people, whose achievements you want to achieve, on a personal level.

I also accept that these posts will put a lot of noses out of joint, as most want to believe you only need a computer and the internet.

 

[MoonRocket]

You'll get so far, but trust me when i say this, .......

And why can I trust you?

 

[DionysusToast]

There's a misguided and very damaging thought that exists on these types of forums, where wannabe traders are encouraged to believe that you can achieve all your trading dreams in isolation, and from the comfort of your home using free information from the internet....wake up and smell the bacon, you can't.

You'll get so far, but trust me when i say this, you need to know people who've proved themselves year after year to be consistently profitable through changing eras of political regimes, economic bubbles and busts, wars and social unrest. In case you didn't realise, those individuals who've prospered through these times (20 years+) are very few in numbers.

Do not waste any more time trying to do this on your own...i can testify from personal experience, that you need a mentor, or someone in a similar capacity. And no, the mentors/coaches you see on these boards are not the people i'm talking about. Do you really think they'd spend their time on trading forums!!?? Hopefully this will save someone some journey time.

Good luck.

I have to agree.

Most people here say "everything you need is on the forums" then they don't say where it actually is.

Thing is, everything you need to become a brain surgeon is available in books too - but I sure wouldn't let someone near me with a scalpel if they hadn't had professional training.

Still - trading is different, eh? I mean, you just need a setup, right? It's not as if lots of people are competing for the same money is it?

I'd love one of the guys that says "all you need is on the forums" to one day step up and point out exactly where it is buried amongst the BS.

 

[DionysusToast]

And why can I trust you?

How's learning off the internet working for you?

 

[new_trader]

You're getting confused with a very simple message; you need to know the people, whose achievements you want to achieve, on a personal level.

I also accept that these posts will put a lot of noses out of joint, as most want to believe you only need a computer and the internet.

You're the confused one. What if someone is interested in trading but doesn't know any other trader on a personal level? What do you suggest they do? What if they aren't very sociable or extremely shy?

All you're saying is that you were lucky enough to know some traders personally and they were generous enough to mentor you...that's it. To suggest that this is a prerequisite to profitable trading is supposition based on a sample size of one.

 

[tony1979]

You're the confused one. What if someone is interested in trading but doesn't know any other trader on a personal level? What do you suggest they do? What if they aren't very sociable or extremely shy?

All you're saying is that you were lucky enough to know some traders personally and they were generous enough to mentor you...that's it. To suggest that this is a prerequisite to profitable trading is supposition based on a sample size of one.

I had no contacts or connections related to the type of trading i wished to do, so guess what, i decided i had to make some.

 

[new_trader]

I had no contacts or connections related to the type of trading i wished to do, so guess what, i decided i had to make some.

So, your practical advice to someone who is interested in trading is to go out and make some contacts...not on the internet or anything because successful people don't spend time on forums...which means you must be a failure, right?

Which means what? Ask every 2nd person you meet if they know a successful trader? Perhaps it means trawling the trading personals section in a newspaper or hanging around bars near a stock exchange.

F*ck that for advice...I just did it the good old fashioned way...hard work, study and practice.

 

[DionysusToast]

It's called networking, isn't it?

Perhaps start with a few AA meetings and work your down way from there.

 

[DionysusToast]

I had no contacts or connections related to the type of trading i wished to do, so guess what, i decided i had to make some.

What is it you do?

 

[MoonRocket]

How's learning off the internet working for you?

I didn't learn from the internet, most of my learning is done just watching the screen and throwing a few dollars at what I see.
And sometimes what I learn is confirmed from what someone has posted or from something I read in a book...........my goodness, did I say book?
Let me make myself perfectly clear here....I AN NOT TALKING ABOUT METHODS.
It amuses me when a trader makes the grandiose claim you can not be self taught.
Just because that poor bugger couldn't do it alone doesn't mean others cannot.
The world is full of successful artists, writers and tradesmen that have never been to schools or mentored.
To be sure, to be mentored could speed up things up. But then again plenty of high powered traders would be and have been deadset losers when they had to go it alone.
When people make these grandiose statements it's only because they imagine its their edge or............................Tony1979 is a muliple nick here to create grief.
See yer Tony1979, you'l be gone to cyber heaven soon.

 

[new_trader]

Tony1979 is a muliple nick here to create grief.
See yer Tony1979, you'l be gone to cyber heaven soon.

That wouldn't surprise me at all...it is already looking like another vendor/shill roadshow

 

[Lord Flasheart]

Tony

you raise some valid points. Problem is I have yet to come across any mentor who is worth learning from. Most of this game is emotional and takes hours of screen time which is why most of us are skeptical about mentoring and as you say, a good trader will probably not bother to mentor. everything you can learn is easily available on the net,the rest is up to you.