How to find mentor

[noads]

I'm not a mentor, I've never had one, I don't think I've ever communicated with one. I don't believe they are scammers.

This two doesn't go together, you cannot not know somebody to have opinion about him.

 

[noads]

now your mentor through his own experience has not found a holy grail, but you are able to learn from his past mistakes. surely the whole point of a mentor. you are now distrusting. with 99% certainty, as you too have to go through the same mistakes he did. because there cannot be a faster way

No. The mentor is there to show you which is a mistake and which is not. For example, he will show you his mistake that he committed 5 times, he will show you in which context it was. Then you will make the same mistake, but only twice, so the time is saved. So, there is a faster way.
Mentor will have his own edge that he owns, or he learned from somebody else, and it is a "holy grail" for him, so he will not waste time to give it freely. If you have something valuable, you will only exchange it for value.

 

[noads]

For me a scammer is someone who sells something which the reasonably competent client cannot possibly make money with. Selling something which is poor value is not a scam, that's normal business - look at the price of designer sunglasses for example. But it could still even then be good value for some customers.

You are mixing contexts, so it's not applicable to trading. You cannot mix contexts in that way, because if you do, we will end up with saying that if somebody sells parachutes which opens 6 times out of 10 -it's not a great value, but it can be good value for somebody, because it works more than it doesn't.
No, there are certain standards when it comes to trading. We all are making those standards, the higher we go, the fewer scammers will be. This will help new traders and humanity overall.

 

[1nvest]

No. The mentor is there to show you which is a mistake and which is not. For example, he will show you his mistake that he committed 5 times, he will show you in which context it was. Then you will make the same mistake, but only twice, so the time is saved. So, there is a faster way.
Mentor will have his own edge that he owns, or he learned from somebody else, and it is a "holy grail" for him, so he will not waste time to give it freely. If you have something valuable, you will only exchange it for value.

So basically the mentor even if he could show you a round wheel, his job is to point out the mistakes of the square wheel you're still trying to develop. Regardless if a strategy exists that the mentor is aware of, your advice is to say no, no mentor please dont show me a round wheel, thats not your job.
You honestly don't have a clue

 

[noads]

So basically the mentor even if he could show you a round wheel, his job is to point out the mistakes of the square wheel you're still trying to develop. Regardless if a strategy exists that the mentor is aware of, your advice is to say no, no mentor please dont show me a round wheel, thats not your job.
You honestly don't have a clue

Yes, I don't have a clue what you are saying. Get out of your inner world and try to communicate clearly. Not by supposing what others would say if you think that they are saying.

 

[tomorton]

You are mixing contexts, so it's not applicable to trading. You cannot mix contexts in that way, because if you do, we will end up with saying that if somebody sells parachutes which opens 6 times out of 10 -it's not a great value, but it can be good value for somebody, because it works more than it doesn't.
No, there are certain standards when it comes to trading. We all are making those standards, the higher we go, the fewer scammers will be. This will help new traders and humanity overall.

As I've said I don't know any mentors, I have no experience using a mentoring service.

But perhaps you have more experience using mentor services. What can you say about your experience?

Or perhaps you are a mentor? It would be good to get that side of the story, which we don't often see on forums.

 

[noads]

As I've said I don't know any mentors, I have no experience using a mentoring service.

But perhaps you have more experience using mentor services. What can you say about your experience?

Or perhaps you are a mentor? It would be good to get that side of the story, which we don't often see on forums.

Yes, my experience is bad with mentors, thus my involvement into this subject. For example, my bad mentors were saying that you shouldn't feel emotions while trading and if you do, then stick to the plan, ignoring them. Till this day, sometimes I make the simple mistake trading against trend, "sticking to the plan" or allowing the pain to be there. Trading too much with my multiple stop losses taking out. Which in most cases is bad for my trading. When I listen to my emotions, and deconstructing what they try to point out. I usually trade less and make less losses. This is what a bad mentor can do for your trading. After I flipped and ditches many bad mentors, I can generate more profits, because there is less frustration of "sticking to the plan". So my mental capital is preserved, and I can trade the next day better.
Also, bad books can mess you up. For example, "Trading in the zone" was the worst focus for a while in my trading. Because I chased the mental state which exists from time to time, but you will not be 100% of the time in the zone. Sometimes shy trades are the best when you are not in the zone. But the phrase "Trading in the zone" sells best, and generates a lot of profit, not for traders, but for the author selling books.

 

[tomorton]

Yes, my experience is bad with mentors, thus my involvement into this subject. For example, my bad mentors were saying that you shouldn't feel emotions while trading and if you do, then stick to the plan, ignoring them. Till this day, sometimes I make the simple mistake trading against trend, "sticking to the plan" or allowing the pain to be there. Trading too much with my multiple stop losses taking out. Which in most cases is bad for my trading. When I listen to my emotions, and deconstructing what they try to point out. I usually trade less and make less losses. This is what a bad mentor can do for your trading. After I flipped and ditches many bad mentors, I can generate more profits, because there is less frustration of "sticking to the plan". So my mental capital is preserved, and I can trade the next day better.
Also, bad books can mess you up. For example, "Trading in the zone" was the worst focus for a while in my trading. Because I chased the mental state which exists from time to time, but you will not be 100% of the time in the zone. Sometimes shy trades are the best when you are not in the zone. But the phrase "Trading in the zone" sells best, and generates a lot of profit, not for traders, but for the author selling books.

Thanks. Some interesting observations, such as listening to your own emotions, ditching the trade plan and avoiding trying to get "into the zone". This is stuff we don't hear much on forums like this.

Trading against the trend is of course something I agree with right off - surely its like trying to walk across a busy road when you have a red Wait light. I mean you will usually survive but eventually a lorry comes along.....

How would you rate the mentor strategies? Too complex? Too unintuitive? Too risky? To be successful did they demand over-trading? Did they require too much capital? Or too much risk per trade?

 

[noads]

A trading mentor could say to you that 1% per trade is a good risk management.
It really doesn't matter that much (as long it's in a small portion of your capital), because if you are not prepared mentally, trading for example from fear, instead of trading from opportunity. You will be hypnotized by the market and your fear. Instead of risking 1%, you will open 6 trades with 1% risk, because your SL was taken out multiple times.
Trading mentors won't tell you how to prepare mentally to snap out from being hypnotized. I'm speaking from my own experience, being hypnotized multiple times, making a lot of mistakes. I thought that because no human hypnotist can hypnotize me in real life, it would be the same with the market.

This is how you find a good mentor. He will focus on strategy less, and more on counseling and talking with you before and after your trades.

 

[BrainStorm]

First proof

First proof should be about research.
For example, Steve Nison. Back in the days, he was an honest man teaching Japanese candles based on years of research. He simply stated that he is not a professional, but he likes to make the best of candles. He translated and researched candles for years, doing his own research on the chart, studying successful traders. Why would anybody discard his teachings only based on his track record. Maybe there are some traders using his method who are successful? If so, then he would be a good mentor to teach you about Japanese candles.
Better still, why not to make your own research back testing his knowledge? Why not to first take his free materials and research. If you like it, why not to buy his book? And if you proved to yourself that based upon your research it's a good knowledge, but you have questions, why not to buy his course or mentorship?
I'm just saying, I'm not promoting him, nor do I buy his courses. Just simple observation and resolution on how to find a good mentor.
Traders often think that they have to pay first and then... Why not to have cautious approach and use your discernment, researching first?
Who these days want to research? 0.001 percent of traders? I saw many (probably hundreds) wannabe crypto traders who didn't even research anything, just watching YouTube crypto videos, and putting money into Shiba Inu. Everybody saw it. Did it work for them?
Proof is in the charts, I don't have to believe, I just check on the charts if some method works or not. That's how I found a good mentors. It's a modular thing, you don't have to find one and marry him.
So, the real question is how to research charts and people. Then it's easy to find a good mentor or be a mentor to yourself.

uld be about research.
For example, Steve Nison. Back in the days, he was an honest man teaching Japanese candles based on years of research. He simply stated that he is not a professional, but he likes to make the best of candles. He translated and researched candles for years, doing his own research on the chart, studying successful traders. Why would anybody discard his teachings only based on his track record. Maybe there are some traders using his method who are successful? If so, then he would be a good mentor to teach you about Japanese candles.
Better still, why not to make your own research back testing his knowledge? Why not to first take his free materials and research. If you like it, why not to buy his book? And if you proved to yourself that based upon your research it's a good knowledge, but you have questions, why not to buy his course or mentorship?
I'm just saying, I'm not promoting him, nor do I buy his courses. Just simple observation and resolution on how to find a good mentor.
Traders often think that they have to pay first and then... Why not to have cautious approach and use your discernment, researching first?
Who these days want to research? 0.001 percent of traders? I saw many (probably hundreds) wannabe crypto traders who didn't even research anything, just watching YouTube crypto videos, and putting money into Shiba Inu. Everybody saw it. Did it work for them?
Proof is in the charts, I don't have to believe, I just check on the charts if some method works or not. That's how I found a good mentors. It's a modular thing, you don't have to find one and marry him.
So, the real question is how to research charts and people. Then it's easy to find a good mentor or be a mentor to yourself.

This answer is fine if you want to learn ‘technical analysis’ or more specifically candlestick charting but not if you want to learn to trade. Your not going to learn golf from a guy who makes golf clubs or a better analogy a guy who sells golf clubs. Learning enough technical analysis to trade is trivial but won’t make you a trader.

Personally I’m sceptical there are more than a handful of decent mentors exist, maybe none. They sure as hell won’t have glitzy websites and sell a whole bunch of trading BS. At the very least they should be able to show account statements and a blotter as they trade. How else can you know they have overcome the hard wired mental hurdles that interfere with successful trading and mastered the ‘process’? You wouldn’t take diet advice from someone is clinically obese why would you take trading advice from someone who has not mastered their trading demons?

tldr Your point is fine if you want to master technical analysis but not if you want to learn to trade. To learn to trade you have to re wire your lizard brain. Someone that has not done that is unlikely to be able to help.

 

[noads]

Without a good trading edge that works, you won't be able to learn how to trade. Everything is connected. It's easier to "master trading demons" if you know what you are doing wrong -not sticking to your trading edge, then you see your trading demons. Without a good trading edge, there is nothing that can be traded. It should be obvious, but almost nobody seeks for a good trading edge.
Because no time to research,
because no motivation,
because of the belief that it must be working,
because you've read the book
because you don't want to question authority
because you paid for a mentor

Real trading mentor can show you not only statement, because it can be manipulated or traded by somebody else. But also he will show you historical charts and predicting for you, real time, on this data as a presentation. Or simply trade real time for fun. Not recording it, and presenting as if it was "live trade", like for example Humble Trader on YouTube did (last video or so), but trade live with the same chart you have.

 

[BrainStorm]

Assuming you are a discretionary trader you are ‘the edge’. Another advantage of a mentor that shows actual results (rather than all of the made up hindsight stuff many publish) is that you can quickly see if the approach is viable. You can cut the wasted years looking for secret sauce. Learning from someone else’s mistakes is a good reason to get a mentor. Of course because 9999 in 1000 have never overcome them (hence they are teaching rather than doing) they don’t actually know how to overcome them.

If they can’t show proper evidence for all their claims run a mile. Ive got annual brokerage statements going back….. we’ll way way to long. Could they fake it? Sure. But they don’t they just make excuses. Faking financial records that open them up to easy criminal litigation is not worth it. It’s a numbers game a room with 100 members at £99 a month is a nice business, or 10 private mentorship’s at £10,000. If you loose a few sceptics because they want evidence, so be it.

To excuse not doing proper due diligence because they might fake evidence is woeful.

You can give 100 traders ‘an edge‘ and 70% will simply fail, 20% will break even or make a bit and 10% will do well. Same edge for all. Like technical analysis the edge is not the chief stumbling block and really not why most traders fail. Of course not trusting the edge doesn’t help.

Anyway my reason for posting was to save people £99, £999, or £2999 or more from, at best, failed traders that know how it should be done but can’t do it themselves or, at worse, the ever increasing number of outright scammers who see an easy way to make a damn good income.

 

[tomorton]

Nobody on any forum I've used has ever volunteered to report just what their mentor actually did.

This is odd. If they made a profit you'd think they would like to tell people how it happened. If they made a loss and believe the trading system they bought was defective, you'd think they'd be equally happy to tell everyone.

What we have is a lot of opinions (my own included). But no facts.

 

[flashman57]

I might be able to add something of value here. I used to work in the hedge fund industry for several years after I graduated. My first boss was a former head of EMEA equity prop trading at Morgan Stanley. My second was former global head of proprietary trading at Goldman. I sat next to these people and watched them trade for several years. My job changed but generally involved doing risk management, research and modelling for them. So I would say I was mentored, in the literal apprenticeship sense. I got to understand their thought processes and the research/sources they used, and how they managed risk. It was literally invaluable as a formative experience.

If you think of the top investors in the world, a spectacular number came from a very few places - Commodities Corp, Soros, Tiger, Goldman, etc. I think that says it all really. A real mentor (not a trainer) can be game changing and a source of massive competitive advantage I think.

 

[Lord Flasheart]

I might be able to add something of value here. I used to work in the hedge fund industry for several years after I graduated. My first boss was a former head of EMEA equity prop trading at Morgan Stanley. My second was former global head of proprietary trading at Goldman. I sat next to these people and watched them trade for several years. My job changed but generally involved doing risk management, research and modelling for them. So I would say I was mentored, in the literal apprenticeship sense. I got to understand their thought processes and the research/sources they used, and how they managed risk. It was literally invaluable as a formative experience.

If you think of the top investors in the world, a spectacular number came from a very few places - Commodities Corp, Soros, Tiger, Goldman, etc. I think that says it all really. A real mentor (not a trainer) can be game changing and a source of massive competitive advantage I think.

That's fair enough but finding one extremely hard.

 

[YellowWitty]

You don’t need one, tbh! It’s great if you do find someone. But if you are honest with the trading process and critically analyse yourself, then you could also make it your own.

 

[Calinor]

Nobody on any forum I've used has ever volunteered to report just what their mentor actually did.

This is odd. If they made a profit you'd think they would like to tell people how it happened. If they made a loss and believe the trading system they bought was defective, you'd think they'd be equally happy to tell everyone.

What we have is a lot of opinions (my own included). But no facts.

Mentor's are clearly useful in many areas. If you want to be an expert in an academic field, you do your PhD and will need a supervisor. At work you have your boss (sometimes also a mentoring program). In sports you will have a coach. I think it is clear that the concept of mentor has been found to be useful across multiple disciplines. A lot of successful traders had a mentor.

Your comment about why nobody is reporting what their mentors did. Well if I was a mentor to someone here, the first thing I would ask them to do is stop going on forums. And switch off Bloomberg and CNBC.

You mention about trading system, but that's not what a mentor is. That's a salesperson.

To the opening poster: Start a journal, detail your trades, get some free feedback. Keep working on it.

 

[T.C.]

Browse these forums and you might find some very useful info.

 

[darrensammy]

You don’t need one, tbh! It’s great if you do find someone. But if you are honest with the trading process and critically analyse yourself, then you could also make it your own.

True! I myself couldn’t find any genuine mentor.

 

[Liam123]

Hello, I am new to Trade2Win and thinking to start trading. How can I find a good mentor?

I do not have a mentor in cryptocurrency trading, I learned everything myself. But I have a mentor who deals with investments and business, his name is Oskar Hartmann. If you understand how investments work, and how money should work for you, then you can easily trade, the main thing is to learn the basics. And of course, it is desirable to find a mentor, but this mentor does not have to be from the world of cryptocurrency, it should just teach you how money makes money, and then you figure it out yourself.