Newbie mentorship

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vvsignin

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Hi,

I'm Ed and I'm from Denver, CO. I love trading but I suck at it. I would really like to find a mentor who can help me trade the S&P emini. I don't have $2k-$10k to spend for this mentorship. This seems to be the going rate for the mentors that I see online. Any suggestions? Thanks!

Ed
 
vvsignin said:
Hi,

I'm Ed and I'm from Denver, CO. I love trading but I suck at it. I would really like to find a mentor who can help me trade the S&P emini. I don't have $2k-$10k to spend for this mentorship. This seems to be the going rate for the mentors that I see online. Any suggestions? Thanks!

Ed
Click to expand...

I have a suggestion. Start a thread in the Journals section. Your journal/thread must consist of a plan to trade the market. If you do not have a plan then simply make a plan based on what you know about the market and how you think it should be traded. If your plan is incorrect someone will tell you or criticize your plan which should guide you. Make sure you attach pics to your journal.

This is just a suggestion
 
Hey there,

I´d gladly spend 2k if someone could recommend a "mentor" who is not full of it !

Everything I have found seems to be bull, or have distinct smells of bull when any research is done. :confused:
 
Yes, I saw that you had posted this earlier before my reply to vvsignin. Gonna look at it in further detail. I did scour through already and I am skeptical of anyone who says you can trade with just 10 minutes a day, but I better read it through first before making any more noise on this.

How long have you been with this guy yourself ?
 
I sort of agree. And sort of don´t. While there is a lot of useful information out there there is also a lot of crap, and sometimes it is difficult to distinguish between the two. A lot of time can be wasted barking up the wrong tree and I think that it is difficult enough without all the disinformation out there.

While someone might possibly be able to learn to trade profitably and consistently without guidance, it would be nice to be guided through the process of learning (like a uni course or college) so that you know you are getting the right information.

I mean, how long would it take someone to learn how to become a car mechanic if they had to sieve through all the material on the internet to learn it professionally, how would you know what to learn, what not, what it right what is not ? And lets face it, trading is a profession, it is not a simple game of Monopoly.

I for one have been around a while and I know of and have visited hundreds of trading websites, few have taught me anything of worthy mention, but some have - AND yes, I have also spent a great deal of money on "Mentorship" and they have all been fruitless pretenders so far, this is why I do agree with you that it is possible to learn to trade for free, it is just a shame there are no proper professional mentorship guides which can be trusted, IMO.
 
The biggest issues you'll face are psychological, what will this mentor of yours teach; how to enter a trade, when to take profit? First bit simple (90% of my entries go into profit at some stage), second bit is potentially a lifetime of self learning.
Get stuck in, DYOR and use your 2K for trading, that could last you a year of 'micro trading learning'...after all, it'll be your plan you trade...:)
 
While I agree with the Psychological aspects and the lifetime learning, I think it is unfair to say that a new trader should just throw their money at the market (whether microtrading or not) and learn that way - There´s going to be a lot of people with zero left of the 2k, after a very short space of time - A lot less than a year in most cases.
 
LoveToTrade said:
While I agree with the Psychological aspects and the lifetime learning, I think it is unfair to say that a new trader should just throw their money at the market (whether microtrading or not) and learn that way - There´s going to be a lot of people with zero left of the 2k, after a very short space of time - A lot less than a year in most cases.
Click to expand...

I suggested 3 aspects to his initial journey; get stuck in, do your own research and trade the money rather than handing it over to a schill...tbh it's the DYOR *bit* that'll help the OP discover whether (or not) he has the intellectual curiosity and mental stamina to make trading work for him...all IMHO of course...:)
 
LoveToTrade what is your trading plan? What is your entry setup and when do you exit, what market will you be trading and what time frame will you be entering on and why.

If you have been on many websites and have had your fair amount of fruitless pretenders you should have came up with a plan by now even if your plan is making you lose money.

EDIT: If you have one could you post it please?
 
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Black Swan said:
I suggested 3 aspects to his initial journey; get stuck in, do your own research and trade the money rather than handing it over to a schill...tbh it's the DYOR *bit* that'll help the OP discover whether (or not) he has the intellectual curiosity and mental stamina to make trading work for him...all IMHO of course...:)
Click to expand...

I agree that doing my own research is the best way, assuming that I know what to look for. I guess I'm looking for a push in the right direction. The last time I took a swing at trading I learned the hard way to NOT use my cash and hope things go my way. I'm using a paper trading account, which I'm sure is not the same thing as using real money.
 
YES I AM legit, Masquerade. Just trying to help, guys, as I wish someone had told me about him earlier.

Now, in reply to Ed, I did course 5 months ago with Mike with 4 weeks support afterwards including live trading which made a huge difference
 
What a load of ********, you cannot learn to trade in 10 minutes a day.

I am going to stick my neck out here. I was mentored, I truly believe that it saved me YEARS of struggle and it paid off. I am now trading full time.
The guy who mentored me never once helped me with trading signals, entries or exits. What he did do is help me find my own style, guided me in the work that was required to make it (and it is work) but the biggest help was with mental discipline.
If you really don't want to spend for a mentor then the next best thing would be a live trading room I suppose. I started in one, which was really good, and they will all give you a free trial to see if it works for you.
But there will come a time when you realise the biggest thing you have to learn is how to conquer the demons in your head. I saved a lot of time (and therefore money) not doing it alone.

Good Luck
 
Hi Elitejets what do you mean by a live trading room?
Is that something like what Newtron Bomb offers?

thanks
 
Who said you can learn to trade in 10 mins????? - if only. However, knowing how to trade (some), I do spend 10 minutes each evening after work checking the markets and if I'm in a swing trade I either adjust my stop/close the trade depending on the price action. That's where 10 minutes comes into the equation. Hope this clears it up elitejets
 
Yes he offers one, there are a number of them around. I started in fx500club which was good. I think Oztrader is offering one. Obviously there is the Omniac one for indices/futures trading.
MrCharts is excellent for US stocks.
They are a pretty supportive environment to start out in.
If they don't offer a free trial don't go.
There are places like Forexpeacearmy to read training reviews.
You won't find mentors there, but you would be surprised at the professional traders who frequent this forum who are willing to help if you show willingness to work. I met my mentor here.
 
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The various trading clubs, whilst a few are run by honest *good eggs*, exist to take money off you, month after month, end of...Suppose they teach you how to swing trade the forex across 9 pairs, what you gonna do all day there, talk about the weekend's footy results, or the Shakesperean tragedy of the Terry V Bridge snub? Which is why they *teach* you a bit of mysterious price action off 15 min TFs, it creates dependency...you're making a pitiful pin money sum each month? Then you'll glady give them a percentage to them 'cos you become too scared to move on and after all it's working isn't it? :rolleyes:
You want trading buddies? Then make friends with your charts and your broker, or platform supplier...
Ask your mentor a question, "who mentored you mentor?" Er..no-one will be the answer...
 
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