[DbPhoenix]

Originally Posted by timgallaway »

I'm looking for a mentor or a trading room with an educational bias. I've joined several that after a few weeks it was obvious that I can be just as successful as they are on my own with basic charting setups (ie EMA and SMA, stochs and MaCD).

I need help. I've read so much online literature over the past 4 months my eyes are about to pop out.

Sorry your reception has been so chilly. I see you're from Afghanistan, so you probably have plenty on your plate already.

I also see that your only post -- other than those to this thread -- had to do with an indicator, and you mention several indicators above. I assume, then, that you're looking for an indicator-driven strategy. Have you tried to develop one of your own? One way or the other, is there some particular reason why you're looking for a mentor or room to show you how to use indicators to trade?

Whatever you do, expect both a mentor and a trading room moderator to demonstrate to you that they are consistently profitable, at least if they're charging you anything (if they're not charging anything, you may pick up some bad habits, but at least you won't lose much, if you're careful). This is where the opening post to this thread will come in handy. But whether you travel that route or go it alone, perhaps with the advice offered in the thread link I provided, remember that your first priority should be to hold onto your capital. Beginners are for some reason desperate to give away their money, either to gurus or to the market. Take your time. There's no hurry.

[timgallaway]

DB, dude I'm in NY.. LOL

Thanks for the info above.. I think what I'm looking for is someone to show me or let me know how to be profitable consistently.. on my own, I'm up and I'm down.. staying suspended and not making any money but yet thankfully not losing money. As for the mentors and rooms that I've joined.. once I allow myself to "accept" their strategy and breakaway from my own, I tend to LOSE and lose big.. and it's not because I'm not letting go of my habits.. I have no problem with that.. I just need something to learn that works.. and is consistent

Because quite honestly.. there is nothing worse than me letting go of my habits / basic strategy for something or someone else's strategy that doesn't work and loses money. That's like getting shot with your own gun.

I use X-Trader with X-Study for charting. It sucks. I need to get TS or something similar.. I think that's my starting point.

[DbPhoenix]

Originally Posted by timgallaway »

DB, dude I'm in NY.. LOL

Sorry, your profile said Afghanistan

BTW, speaking of indicators, you may want to look at this as well.

[DbPhoenix]

Originally Posted by timgallaway »

I think what I'm looking for is someone to show me or let me know how to be profitable consistently.. on my own, I'm up and I'm down.. staying suspended and not making any money but yet thankfully not losing money. As for the mentors and rooms that I've joined.. once I allow myself to "accept" their strategy and breakaway from my own, I tend to LOSE and lose big.. and it's not because I'm not letting go of my habits.. I have no problem with that.. I just need something to learn that works.. and is consistent

Because quite honestly.. there is nothing worse than me letting go of my habits / basic strategy for something or someone else's strategy that doesn't work and loses money. That's like getting shot with your own gun.

I use X-Trader with X-Study for charting. It sucks. I need to get TS or something similar.. I think that's my starting point.

We appear to be playing post tag.

Rather than search for rooms, perhaps you'd be willing to open up a journal thread or a blog and post a few charts showing what you're doing and why. Then at least those who are interested would be able to give you something more than the usual hypothetical theoretical generalizations like "cut your losses short". If not, someone might at least be able to route you toward a room that uses the same indicators in which you're interested.

[edabreu]

Originally Posted by timgallaway »

Can you please recommend some because I'm gonna go broke trying to find a legit trading room!!!! Thank you.

oH BOY...ANOTHER RECOMMENDATION REQUEST.

Firstly, why do you think you need a trade room anyways? Are you impatient? Are you trading live without first having tested your trade setups? Are you pushing an age where you think time is running out? Do you think that you are incapable of devising a method and trade setups yourself? Have you been un-willing to follow the advise of this and other good forums, to start slowly, testing and re-testing before you started trading your cash? Have you kept a comprehensive journal and do you know what kind of trader you are? Are you a scalper, a swing trader, trend trader,, etc?
I do not mean to be mean, but no trade room is not going to help you if you are already losing your shirt trading live when you should not be.

From your statement and request I can only recommend that you do one or more of the following.

Stop trading cash.
Stop looking for a room.

Take a close look at the defined trade setups you are using. Do you know their performance rate?
Can you answer the question about the type of trader you are? Which is it?
Are you employing the right method for that type of trader?
Have you passed any kind of strict performance test with regards to your trade sets and methods and style?

The only most legit reason I can think of for not doing all the work required is that you are pushing 60 and you feel you are running out of time. Then you may need a mentor. There are lots of trader's here who may be willing to help you. But none of them are going to do the work for you because there is no way they can. Really. Every trader has to learn who they are as a trader, their risk tolerance, and develop their own style.
However, you can look over the shoulder of a successful trader and copy them until you learn something of your own approach and develop as a trader.

The cold hard reality is that not everyone is cut out to be a trader, just like not everyone is cut out to be a surgeon, pilot, bus driver, or nanny. But some professions are easier than others. This is not one of the easy one's.
I would be doing you a dis-service if I told you anything different.

If you need to make money and think this is the way, then the other option is to let someone else trade your money for you. This can be another can of worms, but it's a better chance than continuing to trade yourself and lose all your money.

If time and the need for income is the issue, consider the managed accounts option while you are learning to do this yourself. You will be giving away most of your gains, and you will need to do some serious indepth homework to find a safe systems program (if one even exists) that is publically available. The better one's are usually private, with very high minimum account requirements, and moderate but consistently profitable returns.

Now, having said all that...there is no way I am going to recommend a trade room. I know of 2 people who would pounce all over any recommendation and I have no desire to go through that again.

However there are a couple of excellent rooms out there.
Take your time to qualify all the rooms you have attended. Use the trade rooms guidelines post and you may have a chance of finding a decent one with a serious coach who rather than try to impress you with his trading, focuses on your ability to make money in their room as you develop into an independent trader.
If one of the previous rooms you visited qualifies, try returning there and observe again very closely focusing on what is being done. Could be the first time you approached it all wrong, as in trading cash when you should not have been. Re-qualify it using the guidelines.

Let me know of your answers to those questions. If you don't have very clear precise answers, then those are some of the reason's you are not having success.

This brings me to my final point about trade rooms. As in methods and indicators, and most all else about trading... what works for me may not work for you. Do not take anyone elses opinion about anything as defacto truth. You and you alone have the burden of discovering what works for you. IF trade rooms is what you need, then only you know that. If mentorship is what you need, then only you know that. If managed accounts is for you, only you know that. No one else has 'your' right answer. We can only say what has worked for us, and what still works for us.

[stevethetrader]

Not very good stuff unless you tell us where there is a room with those criteria?????

[stevethetrader]

So you give LOTS and LOTS and LOTS of advice but no "guidance" WHATSOEVER. is there really such a room?????? WHERE?????

[stevethetrader]

would you like to talk about these issues thru private message??? I have many of the same veiws but a little bit different conclusions.