Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

rsagi

Finding a MENTOR / Course - Things to Look Out for

Recommended Posts

I think if I did it, it would be local and w/ someone that I knew first. I'd want the face-to-face interaction.

 

As someone, who is still new, and has gone through mentorship, while I received a very educational training, the face-to-face interaction would have been the most beneficial thing.

 

I realize that everyone learns different, however nothing beats learning the basics and than watching someone actually trade and explain why he/she made those decisions. To me, that would have been the most helpful.

Share this post


Link to post
Share on other sites
Guest forsearch
Some may, in fact, be looking not for a mentor but a coach:

....

(John Forman)

 

Don't know why DB would obfuscate the source of this article at the bottom of a lengthy cut-and-paste, but here it is for anyone looking for it....

 

SOURCE:

The Value of Coaching And The Difficulty in Finding One

by John Forman - Apr 24, 2006

 

-fs

Share this post


Link to post
Share on other sites

Bootstrap what you are talking about sounds similar to the prop shop model (another way to fleece would be traders). Do you really think a successful trader would teach you to trade (the way you want to learn rather than the way they want to teach) for absolutely nothing, next you' will be saying they should fund your account (oh wait you are saying that!) Do you also expect a wage while you learn? :) come on do you really expect that to happen?

 

the first thing that i tell any would be trader is never pay anybody for anything. do i really think a successful trader would teach you to trade your own way? yes i do. in fact i have done it and know several others that have done it as well.

 

did i ask for anything in return? yes i did. i asked that they give me an honest try.

Share this post


Link to post
Share on other sites

I see how a good mentor can help you help you find and refine your style and of course deal with the real issues (behaviour). But if you where lets say a VSA trader I am not sure why you would get involved with mentor who practised MP or Fib or point and figure and I can't see that they would change to teach you.

 

That does raise an interesting point does a mentor need to even be a practitioner themselves? I say yes where as a coach does not. It's kind of picky semantics I guess.

Share this post


Link to post
Share on other sites
the first thing that i tell any would be trader is never pay anybody for anything. do i really think a successful trader would teach you to trade your own way? yes i do. in fact i have done it and know several others that have done it as well.

 

did i ask for anything in return? yes i did. i asked that they give me an honest try.

 

That is exactly right.

Share this post


Link to post
Share on other sites
I see how a good mentor can help you help you find and refine your style and of course deal with the real issues (behaviour). But if you where lets say a VSA trader I am not sure why you would get involved with mentor who practised MP or Fib or point and figure and I can't see that they would change to teach you.

 

That does raise an interesting point does a mentor need to even be a practitioner themselves? I say yes where as a coach does not. It's kind of picky semantics I guess.

 

 

i will say that most students will seek out someone who is trading the style/strategy that they are interested in.

 

but you don't have to change your style to teach someone how to trade a style that is different from your own. the learning process is still the same. and if you teach someone a strategy different from the one you are currently using, you just may learn something new too.

 

you still have to walk them through the personal stuff. why do they want to trade? what is the goal? why does a particular style/strategy appeal to them?

this piece usually takes the longest to get through, and is usually where the wanna bees move on.

 

they still have to pick the time frame, a market to trade, how does a random entry/exit strategy perform in the chosen time/market, identify market characteristics to exploit, design the basic entry and exit rules, position sizing, whether to scale in/out, what can be done to improve the strategy, can it even be improved, how much money is needed to trade it successfully.

 

you can use a simple strategy to show them how each step works, but the steps can be applied to any strategy that they want to learn.

 

Chris

Share this post


Link to post
Share on other sites

Very good points Chris. Actually it would be churlish to argue with any of them. I guess a mentor should help guide you to the correct questions to be asking yourself rather than offer 'answers'.

Share this post


Link to post
Share on other sites

to be a trader or to be a winning and consistently every day, every month and every year making good money ? please confirm your choice.

 

thats sound easy but it is the first decision you have to make in order to live in abundance.most traders are trading due to outer influence...not from within their heart. Do this first and decide how wealthy you want to be.

 

may you be bless and be a truth seeker every moment.....

Share this post


Link to post
Share on other sites
I guess a mentor should help guide you to the correct questions to be asking yourself rather than offer 'answers'.

 

BF, you guessed right! ;)

 

Mentors bring forth wisdom not via answers but via questions. That is the way to qualify a mentor. A true mentor will NEVER offer or respond with advice. Rather than offer 'answers', a true mentor only helps to guide you to the correct questions to be asking yourself. Very few potential mentors realize this, even fewer learn how to actually do it consistently. This ‘answers’ business also explains why so few truly qualify to be mentored… the great majority are looking for guidance and answers and avoid the tough questions that take years to answer… Combine these and it becomes obvious how modern psychological counseling and the ‘coaching industry’ is a pitiful charade of true mentoring.

 

Two egos must truly step aside – and to withstand the failed and successful ‘tests’, they must commit to stepping aside multiple times…Such a process involves certainty of some discomfort and the risk of great discomfort. Such work may start with trading among the dominant concerns but it also requires that whole life issues be opened and examined – issues of bodies minds souls and spirits.

 

… a mentor can not be mentoring if need or want to charge money. Just as the old souls passed on wisdom via oral traditions in pre tablet times, true mentoring is not an exchange or a ‘trade’

… when passing a torch with two hands one does not hold out an empty hand for recompense…

 

http://www.traderslaboratory.com/forums/3/how-much-would-you-pay-to-3619-2.html#post32448

 

http://www.traderslaboratory.com/forums/f30/the-right-coach-mentor-3335.html#post29096

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date : 20th Sepember 2019. MACRO EVENTS & NEWS OF 20th Sepember 2019.FX News Today Overall dovish signals from central banks yesterday underpinned Asian markets, which are mostly posting fractional gains. Bund futures are fractionally higher in pre-market trading, while GER30 and UK100 futures are slightly lower. Japan inflation hit a two year low, with CPI excluding fresh food coming in at just 0.5%, in line with estimates and the lowest rate since 2017. BOJ: This may complicate the outlook for the BoJ, although excluding energy, prices actually nudged higher. The data will add to easing expectations after BoJ head Kuroda signalled a review of the overall situation and the impact of slowing world growth on price momentum in Japan. Brexit developments: Negotiators from both sides are set to meet today, after the European Commission confirmed that it received some technical papers on alternative arrangements to the backstop. German PPI inflation much weaker than expected at 0.3% y/y (median 0.6%). OECD cut its 2019 and 2020 outlooks for growth globally, and across most of the world, versus the prior May estimates. And it indicated growth is set to slip to its slowest since the financial crisis thanks to the trade tumult. Charts of the DayTechnician’s Corner GBPUSD rallied from 1.2490 to over 1.2570, a 2-month high after EU commission president Juncker told Sky News he believes “we can have a deal” on Brexit by October 31. It remains to be seen, how Mr. Juncker plans to make a deal, since there has been no movement from the EU side in months. Cable had been languishing in the upper 1.25s. USDJPY has again been range-bound through the session, sticking to a 107.90 to 108.08 trading band. Improved expectations for movement on the US-China trade war may limit USDJPY downside for now. Support comes at Monday’s 107.45 low, with Resistance at 108.50. Main Macro Events Today   Retail Sales ex Autos (CAD, GMT 12:30) – Retail sales and Core for August are seen steady, while the headline is anticipated to drop to 2.9% y/y from 3.3% and core to 2.5% from 2.9%. Support and Resistance levelsAlways trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Hallo,  Freue mich hier sein zu können. Handel seit 7 Jahren. Sierra Chart ist meine bevorzugte Handelsplattform. NQ, ist mein Lieblings Asset   Gruss Thomas T.
    • Date : 19th Sepember 2019. MACRO EVENTS & NEWS OF 19th Sepember 2019.FX News Today The FOMC announcement that delivered the expected 25 bp cut that was widely expected, but didn’t signal further moves down the line. It repeated will act as appropriate to sustain expansion. BoJ held monetary policy on old for now, but flagged review in October. Australian Dollar slumped on the back of a rise in unemployment at 5.3% from 5.2%. Asian stock markets traded mixed, JPN225 gained 0.58%. The Japanese stock markets up from yesterday’s lows, but below the highs seen early in the session. EGBs rallied yesterday and are likely to remain supported going into today’s central bank announcements from BoE, Norges Bank and SNB . Brexit: UK given ultimatum to submit Irish border proposals by Sep 30. The focus now turns to central bank decisions in Europe, where BoE and SNB are expected to hold policy unchanged, while Norges Bank could dodge the trend and deliver a hike. Charts of the DayTechnician’s Corner YEN: The Yen posted fresh trend lows against the Dollar, though remained just off the lows it saw against the Euro, Australian Dollar and other currencies yesterday. USDJPY printed a 6-week high at 108.26 in what is now the fourth consecutive day of higher-high making. The Japanese currency has been deflating amid a persisting phase of risk-on conditions in global markets. Main Macro Events Today   Interest Rate Decision, Monetary Policy Statement (CHF, GMT 07:30) – The SNB kept policy on hold at the June council meeting. The Libor target was replaced with a key policy rate, but the central bank was adamant that the degree of monetary accommodation remains unchanged. After the ECB cut rates, while the Fed is now widely expected to ease rates, the SNB has little room to manoeuvre, especially against the backdrop of ongoing Brexit uncertainty and geopolitical trade risks. The SNB’s central message remains that the situation remains fragile and the currency “highly valued”. Interest Rate Decision, MPC Voting (GBP, GMT 11:00) – Shadowed by the ongoing political developments in Brexit, the BoE is not expected to proceed with any interest rate actions. Support and Resistance levelsAlways trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Brain Trend Signal Alerts is Client Side VTL indicator that plots buy and sell signals. This follows the short-term trend and is a great intraday trading tool. The indicator identifies the trend changes using candle high lows and Average True Range.  The red arrow appears when a down trend is identified and green arrow appear when trend changes upward.     For best results, Brain trend alerts can be used together with a long term moving average like the 200 period simple moving average. Buy signals are valid when the signal is generated above the moving average and sell signals are valid when they form below the moving average.   The indicator writes the current signal and last trade details on the information panel on chart. When a new signal appear, it raise an alert. BrainTrendSignalAlerts.zip
    • Ichimoku Alert is based on the Ichimoku Cloud charts. This is a simplified VTL Alert based on price crossing the Kijun Sen of ichimoku chart. The Ichimoku Cloud is a type of chart used in technical analysis to display support and resistance, momentum, and trend in one view. The Ichimoku alert takes the Kijun Sen and raises an alert when price crossover happens. This should be used together with an ichimoku chart or other indicators. A signal in ichimoku alert means there is a high probability that a new price wave with momentum can form. For traders using ichimoku charts, these alerts inform them that a trend change is occurring in ichimoku chart and they can switch to ichimoku chart and analyse the situation. In trading ranges, this indicator generates whipsaw signals, so always use it together with other indicators or ichimoku chart. Ichimoku Cloud indicator is available in vStore. Ichimoku_Alert.zip
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.