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Trading Psychology How do we learn to conquer our fear and greed? Discuss the mental aspects of the game.

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Old 11-22-2008, 11:53 PM   #1

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Anyone Up to the Challenge of Mentoring?

Hi Everyone,

I was curious to know if any highly successful experienced traders are up possibly speaking to and masterminding with me. I have been trading commodity futures for 5 years and have been day trading them for the past year. I’m very pleased with my system and strategies I’ve developed however there are some changes I have to make with my mindset as it pertains to properly executing my system.

I’m looking to learn how a highly successful trader thinks and view the markets. I’m not looking to trade anyone’s system, instead l’m looking to understand how consistently successful traders perception and behaviour works. I’m still young at 27 years and have a ton to learn.

I would be incredibly grateful if anyone would share some of their views of how they have gained the consistency they have achieved. They can trade any market because I’m only interested learning how they view the markets and what kind of mindset they have.

I would love to have the opportunity to speak to someone for only 30-60 minutes a week. Just to touch base and heed and expert advice. I have a huge passion for trading the markets and define trading success as properly executing my trading system and strategies. I’m getting closer and understand it is a process.

I’m not sure how to return the favour yet, but I will come up with something. I know this may be strange to ask, but if I don’t put it out there I’ll never know!

Please post me here if your up to it, and then we can move forward from that.

Thanks for your time everyone.

Ryan
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Old 11-23-2008, 01:52 AM   #2

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Re: Anyone Up to the Challenge of Mentoring?

Well one can't fault you for trying to economize on this element of your development, however I doubt that any highly successful professional will be willing to spend much time with you (not impossible but I believe highly improbable). My suggested solution is posted in your other thread. I suggest you approach this in a businesslike manner and find a skilled professional to help you on an hourly fee basis. Depending on your level of motivation, I think you may realize your goals sooner, or at the very least you will end up with a good understanding of what might be holding you back.

Good luck
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Old 11-23-2008, 01:23 PM   #3

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Re: Anyone Up to the Challenge of Mentoring?

Hey Steve,

Thanks for posting your solution. I appreciate that. That’s a great option and probably a better route that what I was thinking. I should have re-framed my question. I'd be happy to speak with another individual trader having consistent success earning $250K+. As it pertains that my annual goal and I have yet to come close to hitting the target.

However, with that said, it may be best just to invest in the service and gain my personal experience with the experts anyway. Or do both.

Great ideas Steve, I'm also in the process of touching base with an NLP technician.

Thanks,
Ryan
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Old 11-23-2008, 09:02 PM   #4

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Re: Anyone Up to the Challenge of Mentoring?

Hi Ryan,

I highly recommend working with someone within your area that you can actually meet, have a drink, and discuss your trading. Though the internet provides a great environment for information to flow freely, matters like trading ought to be discussed, tweaked, reviewed, etc... in person; in a business like manner. I interact with a few traders myself on a weekly basis just to brush off ideas, design strategies, etc...

I may be worth while for me to build something that allows members to find traders in their area.
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Old 11-23-2008, 09:39 PM   #5

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Re: Anyone Up to the Challenge of Mentoring?

Hi Soultrader

First off thanks for founding a great place for traders to network and mastermind. Yes, I absolutely agree with you that it’s much better belly to belly. I’m up in Vancouver, Canada (BC) and I know there are tons of traders here. I just haven’t made the decision to get into contact with anyone. Actually, I’ve been trading for over 5 years now and in the past week this is the first time I’ve ever got into contact with other traders. Stubbornness and Ignorance could play a role here! I suppose that all changed when a friend told me your going to have to do it on your own, but you cant do it alone.

Thanks for the great tips. With that said, if anyone is located out near Vancouver, Canada shoot me a post or an email. I’d love to meet up and bounce some ideas around.

The ability to network with other traders in their location is a great idea.

Thanks again,
Ryan
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Old 01-17-2009, 11:42 AM   #6

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Re: Anyone Up to the Challenge of Mentoring?

I've found many traders who profess to be consistently profitable, but are not willing to share actual data. I've joined local meetups of traders, and still all I find are losers, still trying to learn to be profitable. Even if I found a mentor who charges for services, I would still want to see records of trading activity over the last year to convince me that their fees are worth it.

I was lucky to find a mentor in my darkest hour. This man spent about 60 (Not a typo) hours a week with me for nine months. That just doesn't happen normally. He never charged me a dime. It was simply an act of kindness on his part. Be honest about your situation and you may attract somebody like that.
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Old 01-17-2009, 12:35 PM   #7

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Re: Anyone Up to the Challenge of Mentoring?

Quote:
Originally Posted by Uli Schmuli »
Be honest about your situation and you may attract somebody like that.
That shows that good things can happen to anyone provided that they want something bad enough and they can be honest about it. Glad to hear that and I hope it was helpful to you.

One of the bigest mistake,begining retail traders make, is to not be honest about their performance, costly to the trader and the to the trading community at large, because they help perpetuate the illusion that to trade successfuly is too hard.


Regards..
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Old 01-17-2009, 01:28 PM   #8
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Re: Anyone Up to the Challenge of Mentoring?

Quote:
Originally Posted by evolved trader »

I’m looking to learn how a highly successful trader thinks and view the markets. I’m not looking to trade anyone’s system, instead l’m looking to understand how consistently successful traders perception and behaviour works. I’m still young at 27 years and have a ton to learn.

I would be incredibly grateful if anyone would share some of their views of how they have gained the consistency they have achieved. They can trade any market because I’m only interested learning how they view the markets and what kind of mindset they have.
In my opinion, only successful scalpers are consistently profitable day in and day out in this extremely volatile environment. If that is your cup of tea , then I would recommend the daily reading of the attached SFO article entitled: " 25 Rules of Trading". It has been an invisible mentor to me.
Attached Files
File Type: pdf 25 Rules Of Trading.pdf (121.8 KB, 103 views)
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