I need a mentor!!

Lucky_81

Member
Now I know your all thinking dreamer, but I thought it may be worth a shot.

Basically I am looking for someone to give me all their hard earned trading knowledge!

This is where I am so far. I've been working in the city for almost 4 years (back office) with the hope of moving into the trading floor, as the thousands of other people who are in exactly the same situation as me know, this is not the easiest achievement to make (especially without a degree)! I have always wanted to trade for myself but never really knew how. I have been reading books and recently left the city in the hope of making a go of trading for myself. Great guess, I failed! There's a surprise, but to be honest that was what I fully expected, but as so many people say you only learn by your mistakes!

Recently I signed up to Pristine.com and followed their techniques for a while but after reading one of the theads on this website was slightly discouraged.

I am now temping back in the city trying to save fund my trading education.

What I am basically getting to does anyone know a place where you can get real education for trading. Not another rip-off scam that are all over the Internet. I'm not really interested in the learn to trade in 1 week schemes, I want someone I can actually watch and learn from.

Any suggestions are more than welcome! Even better if there are any successful day traders out there who would be willing to show me the ropes please get in touch. (I know keep on dreaming, but you dont get if you dont ask!)
 

one/two

Member
evening lucky 81
how long did you go full time for???
it took me 18 months to find my edge and another 12 months to realise that it was an edge, maybe one day i'll beable to trade it!!!!!!!!!!!!!

a whole lot of patience is all it needs. it was sitting under my nose for months.
 

Lucky_81

Member
Thanks for your encouragement one/two.

To be honest i didn't stick at it for too long (about 4 months), run out of funds in the end. I do agree with you that you need to really have patience and keep going at it, hopefully when I save up enough to have another go i'll be able to keep going a bit longer.

The main problem I come across is that I am reading so many conflicting pieces of information of whats a good indicator, whats not etc. I also think there's so many people out there trying to rip off people like myself who are looking for an education and not a get-rich-quick scheme.

Thanks again for your response.
 

Rognvald

Established member
I've been at it for >3yrs now to reach my present state of (dis)grace - i.e. beginning to feel real progress is being made.
 

a320

Established member
You found a good starting point lucky :cool:

A mentor will definitely speed your progress up..I can recommend one but its around 5K ($)...but if you've got time on your hands search away on this site as there are many gems to be found.
Pop into the chat rooms people are always willing to help/explain what their doing to newbies..we were all there once :cheesy:


CJ
 

divinci

Junior member
How much research had you done before making a go at it?

I have been reading these boards for a couple of months now and paper trading with www.virtualstockexchange.com

I know that it is easer to make money paper trading than 'Real life' but it helps.

I havent got any money to trade at the moment - but I am making sure that when I do I will be able to profit.

A mentor would help, but f you cant find one then just keep on reading and you will learn a bucket load!
 

DaveT

Well-known member
Lucky_81 -

I know of two highly acclaimed 'mentors' who offer courses to buy (On-line or CD-Rom) AND present Interactive Web seminars ('Webinars') or hold seminars at various venues.

This may or may not be what you were looking for. (They are not one-to-one, ofcourse)

They are both US-based.

1) DAVID DUTY, Cta of COMMON SENSE COMMODITIES, (US)

www.commonsensecommodities.com

His course and presentations are commodities-based, but in terms of general trading techniques/Technical Analysis, they apply to ANY markets.

On his website , you will find a free mini-course, a full $300 course,a calendar of WEBINARS accessable via HOTCOMM software (requires a licence fee), and a student's forum.

I have attended a few of these (on-line) and found them VERY enjoyable and instructive.

2) MARTIN PRING

www.pring.com

Lots of educational material and coursework via website/CD-ROM/seminars.


Also check out the following:

www.futurestraining.com
www.tradershelpingtraders.com
www.traderscoach.com

All the above are US-based. I personally think they 'do it better' over there. (T2W excepted, of-course!)

Hope this helps.
 

TWI

Senior member
My advice is to get 20k together and go self funded to an arcade. A good one will be more than willing to teach you the methodology. It is, I believe, a good way to make a living trading and you don't have to commute to the city every day either if you find somewhere nearer to where you live. If you do not have the 20k then I know of some places funding traders at the moment.
 

adalc

Newbie
@TWI: what is an arcade exactly?
@Lucky_81: I suggest whoever you choose to follow be a good trader first (i.e. with a track record or who won some competitions). There are plenty of so-called trading gurus that have no track record.
 
Now I know your all thinking dreamer, but I thought it may be worth a shot.

Basically I am looking for someone to give me all their hard earned trading knowledge!

This is where I am so far. I've been working in the city for almost 4 years (back office) with the hope of moving into the trading floor, as the thousands of other people who are in exactly the same situation as me know, this is not the easiest achievement to make (especially without a degree)! I have always wanted to trade for myself but never really knew how. I have been reading books and recently left the city in the hope of making a go of trading for myself. Great guess, I failed! There's a surprise, but to be honest that was what I fully expected, but as so many people say you only learn by your mistakes!

Recently I signed up to Pristine.com and followed their techniques for a while but after reading one of the theads on this website was slightly discouraged.

I am now temping back in the city trying to save fund my trading education.

What I am basically getting to does anyone know a place where you can get real education for trading. Not another rip-off scam that are all over the Internet. I'm not really interested in the learn to trade in 1 week schemes, I want someone I can actually watch and learn from.

Any suggestions are more than welcome! Even better if there are any successful day traders out there who would be willing to show me the ropes please get in touch. (I know keep on dreaming, but you dont get if you dont ask!)

Sounds like you have the right kind of enthusiasm that a trading firm would like - must be a few trading companies in London offering training roles that lead to full time trading job upon completion/making money?
Alternatively put your own money down and go from there!
 

TWI

Senior member
These days you need to be careful with your selection when it comes to arcade. Many which existed in the days before machines took out the spread arbs require very different methodologies and business models today. I note my last post in this thread was 14 years ago when I was making money trading STIR arbs, that got considerably harder, now back to trend following.
 

CityTrader

Established member
I'm guessing in the last 11 years since the previous post some of the OP's have blown up? I'd be interested to hear how they've gotten on?



@TWI: what is an arcade exactly?
@Lucky_81: I suggest whoever you choose to follow be a good trader first (i.e. with a track record or who won some competitions). There are plenty of so-called trading gurus that have no track record.
 
Actualy if you would find a good set of guidelines and you would be able to stick to these guidelines I am sure you would become succesfull. The hardest part in becomming succesful is not to be found out there but right inside of yourself. Once you realise this, your world already will change.

May I suggest you get a copy of "Trading in the Zone"?
And next to that, right here on this forum there is a guy who offers a free ebook called "The 3 Ducks"

This system is based on trading multiple timeframes and it is a very simply but very effective way to trade. I suggest to do a search in these forums. You will find it for sure.

Best of luck,

Jan
 

Lúidín

Established member
Now I know your all thinking dreamer, but I thought it may be worth a shot.

Basically I am looking for someone to give me all their hard earned trading knowledge!

This is where I am so far. I've been working in the city for almost 4 years (back office) with the hope of moving into the trading floor, as the thousands of other people who are in exactly the same situation as me know, this is not the easiest achievement to make (especially without a degree)! I have always wanted to trade for myself but never really knew how. I have been reading books and recently left the city in the hope of making a go of trading for myself. Great guess, I failed! There's a surprise, but to be honest that was what I fully expected, but as so many people say you only learn by your mistakes!

Recently I signed up to Pristine.com and followed their techniques for a while but after reading one of the theads on this website was slightly discouraged.

I am now temping back in the city trying to save fund my trading education.

What I am basically getting to does anyone know a place where you can get real education for trading. Not another rip-off scam that are all over the Internet. I'm not really interested in the learn to trade in 1 week schemes, I want someone I can actually watch and learn from.

Any suggestions are more than welcome! Even better if there are any successful day traders out there who would be willing to show me the ropes please get in touch. (I know keep on dreaming, but you dont get if you dont ask!)

Why do you think you need someone else to show you how to lose money?

If you worked in a back office then you must have picked up some idea about how important risk control is above all else.

Listening, or taking advice from someone else might be the worst decision you make in your life, as nobody, and I mean nobody, cares whether you make money or not.

My advice is, never ever give your money to anyone else, and that means for books, courses, seminars, one to one tuition, or whatever spin they put on it. If you take the time to sit back and think hard about it, you will see that they are nothing but car salesmen, telling the customers what they want to hear and the only real interest is getting the buyer to part with his/her money asap.

Start small, take your losses and get down to business. Most who try this just tinker around and do not commit themselves, and they then wonder why they lose money. Like any business you have to learn what works best, and then use it to your advantage to make money. You will not make money by throwing it away to car salesmen, that is one sure thing.

Lúidín
 

CityTrader

Established member
If you can get your head round the dry, long winded writing style " mind of a disciplined trader" is an excellent resource

Actualy if you would find a good set of guidelines and you would be able to stick to these guidelines I am sure you would become succesfull. The hardest part in becomming succesful is not to be found out there but right inside of yourself. Once you realise this, your world already will change.

May I suggest you get a copy of "Trading in the Zone"?
And next to that, right here on this forum there is a guy who offers a free ebook called "The 3 Ducks"

This system is based on trading multiple timeframes and it is a very simply but very effective way to trade. I suggest to do a search in these forums. You will find it for sure.

Best of luck,

Jan
 

dbphoenix

Legendary member
Why ridicule someone who overlooks posting dates? It happens every day. People generally search based on content, or "tags", not by dates. What is more important is whether or not the OP's question is a good one.

Db
 

timsk

Legendary member
. . . Listening, or taking advice from someone else might be the worst decision you make in your life, as nobody, and I mean nobody, cares whether you make money or not.

My advice is, never ever give your money to anyone else, and that means for books, courses, seminars, one to one tuition, or whatever spin they put on it. If you take the time to sit back and think hard about it, you will see that they are nothing but car salesmen, telling the customers what they want to hear and the only real interest is getting the buyer to part with his/her money asap. . .
Hi Lúidín,
Wow, this is an extreme - and some would say - very cynical view. I hear what you're saying and, certainly, your comments do apply to some authors and coaches etc., but by no means all. I say this as an employee paid by T2W to write the official content for the site, and I can tell you hand on heart that I do care about the members and I do want them to make money. I really do. It doesn't happen often but, every once in a while, someone posts or PM's me to say that something I've written has at least helped them to save some money - if not to make it - and that really makes my day. It is extremely gratifying.

So yes, there's lots of dross and ne'er-do-wells out there with no integrity and who don't care about their customers but, equally, there are plenty who do and whose writings / teachings are worth heeding. Just my $0.02 worth of course.
;)
Tim.
 
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