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Experience at Live Trading Rooms

  #64 (permalink)

Juno Beach
 
Trading Experience: Advanced
Platform: Ninja and TS
Broker/Data: Optimus Futures / Matt
Favorite Futures: multiple
 
JamTheTrader's Avatar
 
Posts: 135 since Sep 2009


Jaguar52 View Post
I agree that emphatically telling someone to just go it alone is not the best way. It does eventually come down to that, but it depends on how many years and how costly you want the ride to be until that point. Training with someone who has gone the road before you and come to their destination can shorten the learning curve and make it less expensive. The problem arises when you think that a mentor equals no loss and an easy road. IT does not. You still will have pain and suffering, but a mentor can help you control it just by his/her example, and help you understand that whether you make it will eventually come down to you as an individual. If the mentor is any good he can teach you to fish well enough to at least eat regularly. Whether you will feast on cake and ice-cream will be completely up to you and no mentor can do that for you.
So I think having a plan whereby you spend 6 months getting your initial training with someone who YOU MUST VERIFY THEIR TRACK RECORD, can go a long way to get you started out with the least amount of pain.
The hard part is going to be finding the right mentor and first method that you are able to understand and work with.
Alternatively is to find a trading buddy or group and help each other. This is where a forum like this can help. It means a bit more work on your part, and you may have to really find a sympathetic ear to spend some real 1:1 time with you, but it is an alternative, but not necessarily a cheaper alternative or efficient method.
If you plan has a time line and goal projections, then you can gauge whether the progress you are making is suitable for you, and go from there with alternatives.

Mike,

Very well put. I would consider your forum to be hands down the best out ther period. And no better place can be found for finding help and a great community and believe me I have been out there and there is a lot of crap both vendors, and traders that want to blame everyone else for their shortcomings.

Finding a mentor is not easy, but having one that trades large fund money and private accounts and especially in the live trading room is a huge plus. You can expect to pay more for this service I am sure as you are getting experience and not fluff.

Great words Mike!

Jam

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