Do you need a mentor to be successful? - Traders Hideout | futures io social day trading
futures io futures trading

Do you need a mentor to be successful?
Updated: Views / Replies:39,455 / 115
Created: by Big Mike Attachments:1

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Thread Tools Search this Thread

Do you need a mentor to be successful?

  #41 (permalink)
Elite Member
Wodonga Australia
Trading Experience: Intermediate
Platform: NT, MT4
Broker/Data: NT
Favorite Futures: Dax
Linds's Avatar
Posts: 352 since Jul 2010
Thanks: 569 given, 396 received

Deucalion View Post

PS - I did learn by myself, but I finally got a couple of teachers after 3years, and it greatly shifted my goalposts, so If I was to do it again I would never do it without a mentor. That's my slant, and of course it's 1 opinion.

Hi Deucalion
Good post thanks. How did you go about finding your coaches/mentors? How did you establish their credibility and 'qualifications'? I think this is a critical question that needs to answered in this discussion.


Reply With Quote
  #42 (permalink)
Membership Revoked
Oslo, Norway
Trading Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
Lornz's Avatar
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,239 received

I think the question is moot... The vast majority will never even meet a successful trader, let alone someone willing to mentor them.

A mentor does not charge for his/her services...

Last edited by Lornz; December 12th, 2011 at 07:18 AM.
Reply With Quote
The following 2 users say Thank You to Lornz for this post:
  #43 (permalink)
Trading Apprentice
Trading Experience: Master
Platform: NT
Favorite Futures: ES
Posts: 6 since Sep 2010
Thanks: 2 given, 1 received

Lornz View Post
I think the question is moot... The vast majority will never even meet a successful trader, let alone someone willing to mentor them.

A mentor does not charge for his/her services...

This is very true. Another reason why getting into the business is difficult. There is also the issue if the mentor's style will fit in with your trading. I believe a mentor's job is to simply give the trader the foundations and the individual over time has to built their own unique way of looking at the mkt that makes sense to them.

Futurestrader71: "The best analogy I use for trading is race car driving. You can jump into Ayrton Senna’s car (deceased legendary Formula 1 racer) and use his exact seat adjustment, mirror positions, helmet and everything else. The results will not be the same even if Ayrton talked you through it all. You have to make it your own. You have to come with the right attitude. If it makes sense, then who cares who I am?"

Reply With Quote
  #44 (permalink)
Elite Member
Czech Republic
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Ninja/ Continuum
Favorite Futures: Anything that move
Lejcus's Avatar
Posts: 43 since Apr 2010
Thanks: 216 given, 64 received

I think tahat you dont need one to become successful but it can speed up your learning in the start if you found good one.
Remember none mentor will do your homework !!!

Reply With Quote
  #45 (permalink)
Elite Member
Northern Germany
Trading Experience: Intermediate
Platform: NT
Favorite Futures: FDAX, CL
vvhg's Avatar
Posts: 1,583 since Mar 2011
Thanks: 1,016 given, 2,819 received

A good mentor is probably quite similar to a wise dictator... Incrediby hard to find, probably desastrous if you pick the wrong one but invaluable if you really hapen to find him.


Hic Rhodos, hic salta.
Reply With Quote
The following user says Thank You to vvhg for this post:
  #46 (permalink)
Elite Member
Duluth, Minnesota, United Stat
Trading Experience: Intermediate
Platform: Open Ecry
Favorite Futures: ES, NQ
JEHs's Avatar
Posts: 271 since Aug 2010
Thanks: 320 given, 416 received

I have a son who excels in baseball. He is only 8th grade but plays on the varsity team.
Some of the older kids resent this a little.
But some of them like to help him about and talk him through nerves and things.
They think it's cool and they like to bring him in and make him a better player...
I always tell my son to remember those guys... When you are in 11th or 12th grade or even older there will be some little kid like you who just loves the game and wants to learn... Be the type of older kid that you like to be around now.

I admire good coaching when I see it. It is a skill.
Hopefully, if I ever get somewhat proficient at trading, I will be able to be that coach for someone else.

I started a business 25 years ago. I am not a huge success, but I have done OK. I did not have any sort of a mentor there ever. Totally self taught...
I build some amazing things in my shop. Because I never apprenticed under a master woodworker, I can probably not ever call myself a "master", but I do pretty well with it.
I have always told my kids, success in most things come from just being a nice person... Waking up in the morning with the simple goal of doing the right things. Living the right life. I think now matter what you are pursuing, a good coach teaches you these things above all else. Maybe I am naive...

Just some random thoughts on the subject...

You can get help from teachers, but you are going to have to learn a lot by yourself, sitting alone in a room.
Dr. Seuss
Reply With Quote
The following 6 users say Thank You to JEHs for this post:
  #47 (permalink)
Banned: User asked to be banned
Calgary, Canada
Trading Experience: Intermediate
Platform: Multiple
Broker/Data: Multiple
Favorite Futures: Multiple
Deucalion's Avatar
Posts: 430 since Aug 2009
Thanks: 103 given, 1,209 received

Linds View Post
Hi Deucalion
Good post thanks. How did you go about finding your coaches/mentors? How did you establish their credibility and 'qualifications'? I think this is a critical question that needs to answered in this discussion.


Lornz is correct, a newbie who has no idea WHAT to think, cannot objectively stand a good chance of finding a constructive mentor. In contrast, I also firmly believe what JEH said below - he knows skill when he sees it. I don't know how to answer that objectively. I can tell you my evolution in that process.
  1. He cannot be a teacher only. His primary occupation must be a trader.
  2. He does not have to give it away (I distrust free stuff AS MUCH as I distrust pie-in-the-sky prices).
  3. If he shows me his screen (a must) he must be able to identify with immediacy something I never thought of, something that pops out immediately on say, a simple plain non-indicator 5min candle chart.
  4. His primary goal must be to control his risk, not to make money.
  5. He cannot ever blame the market, ever!
  6. It is not important to me whether he shows me his trading statement (no one will do that). I want to see immediate value in his analysis of the market, no matter what chart, as long as its a big enough chart.
  7. Pro traders often share similar traits, they are humble to the market yet enormously confident of their ability to stick to a stop and target.
  8. They have very little opinion on ANYTHING under the sun.
  9. Anecdotally, they are boring people... because they are actuarial in not just their trading but to everything in life. They will often be right brained thinkers (most will have multiple careers, and either be serially successful or serially failures until trading).
  10. They all have a 10yr and a 20yr plan, with weekly, monthly benchmarks.
  11. They take each day as a single performance.
  12. He must be able to identify trends, amplitudes, pull-backs and all price action with logical reason. If he can't he must not commit any risk to the market. And he must wait as long as it takes. All day, all week if necessary.
  13. Each and every trait above must be immediately perceived by you.

It cannot be esoteric, no magical stuff here, simpler is better....if you don't get what he is selling within minutes and say....aha!, and can't get your blood tingling...then leave. he is after your money. Or worse, a charlatan.

Such people exist, they are not chimeras. It takes time and effort to uncover gems. Why should stuff reveal itself to me unless I am willing to sweat blood for it. I have no entitlement, I do my best and then I do more...

Let's simplify this, how do you tell if some one is skilled at ANYTHING in life. Doctors, lawyers, carpenters, mechanics, anybody? Throw away degrees and reputations and anything perceived. How can you tell if Kyle Bass is the real deal and Dennis Gartman and Jim Rogers are trolls?

So how do you scientifically find them? I have no answer, I asked my broker - he gave me leads immediately to pros who, in one way or another agreed to be contacted. I asked, one thing lead to another...some conversations later I found one....and through his network 4months later I found another.

In the last few months, I found 2more, more or less same way. But I have enough homework already for the next 5years!

I hope this helps in some manner. Its not a how to manual, or the right or wrong way, pick A way and refine it as you go along, keep your eyes and ears open and your trap shut.

And now, I will shut my trap, since I have yapped for far too long. I read somewhere on this site, that a trader once said he wished he could take back EVERYTHING he ever said or wrote. I concur

Last edited by Deucalion; December 12th, 2011 at 10:34 PM.
Reply With Quote
The following 5 users say Thank You to Deucalion for this post:
  #48 (permalink)
Site Administrator
Manta, Ecuador
Trading Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
Big Mike's Avatar
Posts: 46,925 since Jun 2009
Thanks: 29,917 given, 86,935 received

Please, continue...


Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
  #49 (permalink)
Elite Member
Greensboro NC
Trading Experience: None
Platform: TOS/ NT Dorman
Favorite Futures: ES TF CL
Rad4633's Avatar
Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 889 received

Beat it or be beat!

I'm 6000 plus hrs in, been full time trading going on 2 yrs, I move as fast as anyone trying new charts,backtesting etc. I read my first book cover to cover 5 mths ago and it was on trading-Go Figure lol. They say 95% of daytraders fail,well so does 95% of small buisinesses. Ive started 7 still have 2 sold 2 others let others go when something better came along. In life I always used a different path from the norm, because if everyone enters the same path on one side of the forest who comes out first on the other side first,Everyone. You cant win a race like that! But for some reason when I started trading, I've used the same path as everyone else.

I was as green 2 yrs ago as anyone can be to the markets. I researched a broker that is well know and went with it. The broker demo/sim was down all the time. They said it was because it was for teaching you how to use there live account not trade with it. Can you say I paid them alot of commissions. I was in stocks then now I'm trying to get the ES. Switched to Ninja/different broker and now I'm trying to get a system that works day in and day out. Yes I've had uptrending and downtrending and chop trading setups. They all worked on the right days but who can predict the movement for this day?

I found Mike and (formerly BMT) when I switched to Ninja, I've read ALOT of post and have gotten a good read on ALOT of the people posting. When you start a new business you have upfront investment which you can lose. My thoughts on trading was no different. You have to have experience it can't be taught it has to be learned, but man what I would have gave for a mentor in the beginning or even now. Its been a costly journey for me to get here. I ve got stories geez!!!!! I have replied to certain members looking for some guidance. I understand most are busy so no reply isnt taken the wrong way. As many have stated why would a mentor want to help you? They had to learn it the hard way guess you should have to lose as they did. I used to have a similar attitude in the real world business. But the markets have made me humble, I'm more compassionate to others.

I wasted alot of time trying to find chart setups with this or that indicator.MISTAKE
Ive never paid one person that offers trading schools,videos,indicators etc because I would have gladly paid if they could show me them trading live on a few days and been successful >NONE would accept that offer. I understand their business model, SELL product So Ive let the market teach me how it moves, can you predict a accident before it happens when driving,no matter how alert you are? I have set a date by the end of Feb 2012 if I don't feel confident with my trading I'm done! I'm a break even trader now if thats good or bad I dont know. Im tired, Ive sacrificed more in this thing than anything in my life!

The reason I had such a long response is I want any new trader that reads this to know whats ahead! Yes If you can find a MENTOR, first make sure he's got a proven track record because I can talk the talk and show you backtesting or perfect day scenarios. But if he will help you by all means listen and learn.

Im back to price action, trend lines from today forward! (formerly BMT) members I hope I get to stay around I'm still forward fast, because more than anything I dont want this to be my first failure at 40yrs old!!!!!!!!!!!!!!! LMAO

Best Wishes to Everyone
Happy Holidays

FYI I dont talk about myself or my business,I almost deleted this but maybe it will help some moving forward

Reply With Quote
The following 5 users say Thank You to Rad4633 for this post:
  #50 (permalink)
Elite Member
Northern Germany
Trading Experience: Intermediate
Platform: NT
Favorite Futures: FDAX, CL
vvhg's Avatar
Posts: 1,583 since Mar 2011
Thanks: 1,016 given, 2,819 received

Thanks @Rad4633, one of the best posts I have read in quite a while!


Hic Rhodos, hic salta.
Reply With Quote


futures io > > > Do you need a mentor to be successful?

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

Journal Challenge $1600 in Prizes & Free Journalytix for all participants!


Trading Resolutions for 2019 - Avoiding Mistakes w/GFF Brokers

Feb 19

3 Excellent Entries, and How To Automate Them w/Kevin Davey

Feb 21

The Driving Force Behind the Market w/Earn2Trade

Mar 5

TBA w/Stage5 & iSystems

Mar 12

TBA w/John Grady @ No BS Day Trading

Mar 19

Day Trading Oil Futures: Reducing Risk & Increasing Profits w/DTN IQFeed

Mar 26

Similar Threads
Thread Thread Starter Forum Replies Last Post
Day Trading Mentor im deutschsprachigen Raum ikeaboy German Traders 26 January 15th, 2013 03:06 PM
Market Profile Mentor wanted arbman1 The Elite Circle 16 October 2nd, 2011 11:23 AM
NATURE, OUR GREAT MENTOR. joyginy Psychology and Money Management 12 January 6th, 2010 01:34 PM

ats, average, backtesting, brett steenbarger, broker, brokers, buy, charity, coaching, code, crossovers, data, dom, dow, elite, email, emini, es, feedback, futures, gann, guru, holy grail, holy_grail, how to, how to trade, indicator, indicators, information, journal, live trading, margin, mark douglas, moving average, newbie, ninja, ninjascript, order entry, patterns, price action, profitable, psychology, review, risk management, search, short, signal, silver, sim, sim_trading, standing, statistics, steenbarger, strategy, strength, successful trader, support, swing, systems, taylor, thoughts on trading, tor, trading, trading platforms, trading robot, trading schools, training, trend, trend lines, trends, type, university, webinar, white

All times are GMT -4. The time now is 08:18 AM. (this page content is cached, log in for real-time version)

Copyright © 2019 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432 WhatsApp Business,
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2019-02-18 in 0.22 seconds with 15 queries on phoenix