Traders Laboratory - View Single Post - The Right Coach/Mentor?
View Single Post
  #3 (permalink)  
Old 01-29-2008, 10:30 AM
brownsfan019's Avatar
brownsfan019 brownsfan019 is offline
brownsfan019 is feeling the pain of losing a dog

 
Join Date: Jan 2007
Posts: 2,105
Thanks: 34
Thanked 86 Times in 56 Posts
Arrow Re: The Right Coach/Mentor?

Eva,
The coach/mentor thing is a tricky one. You'll want to screen any services that you pay for very hard. In particular, you'll want:
  • Someone that trades similar to you. No point of having a scalper mentor you if you plan to trade 1-3 times a day.
  • Similar/same markets.
  • References that you can contact would be great.
  • Local or in the area, would be even better.
  • Need everything in writing when paying.
The value of a coach/mentor cannot be underestimated. The problem in trading is that there are many 'coaches' out there more than willing to snatch up your dollars. You really have to do some research to make sure it's a good fit.

As a side note, I've thought about doing something along these lines down the road. The problem is that I think my fees would not be manageable for a new trader. That's the catch 22 here - any good coach, is probably going to be real expensive. And when new to trading, that can be a large capital expenditure.

I would start with checking the ads and articles in trading magazines. One that I see a lot BUT CANNOT SPEAK TO THE VALUE is http://www.tradingontarget.com/

Here's a thread I started on the same topic: http://www.traderslaboratory.com/for...rent-2084.html

Keep us posted on your search. If you came back to this thread and provided reviews, that would help many traders out.

Reply With Quote