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I am in Desperate Need of A Mentor


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I am in Desperate Need of A Mentor

  #1 (permalink)
N00bdayraider
Jersey City, NJ
 
Posts: 8 since Jul 2015
Thanks Given: 2
Thanks Received: 6

I've been trying to trade since 2012, by "trying" I mean losing money or trading sim to no avail for that long. I started with Options, and right now my capital is split between options, forex, and futures -- with futures containing the majority of it.

After scouring the Internet for years, watching tons of video and doing tons of reading, I came across Wyckoff. I read his stuff multiple times, saw videos explaining it all, and it seemed to make sense. The major players buy on dips and sell on bulges, whereas the retail public does the opposite. With Wyckoff's method you're supposed to use price movement and volume to look at when a stock is accumulating and distributing. It all made sense to me as I learned it, but when I looked at stocks I couldn't read volume for the life of me. It was just a bunch of bars that made little sense to me. Sure, price made sense, but I couldn't tell if price was accumulating or distributing because I couldn't tell what volume was doing.

Doing more research I came across Alan Andrews and his median lines. This was something I liked because all it required was price -- no volume, no indicators, just price. I read his original material and I didn't really get it, but I came across Tim Morge. I watched and read A TON of Morge's stuff. He really knew how to explain things. I admit I didn't get all of it, but I felt like I got enough of it to apply it. Following price and plotting out a median line seemed simple enough. I'd find the three major pivots and saw price act how Andrews said it should.

But putting it all into practice is where the difficulty and frustration came. I'd plot a median line out and watch price. It would touch the center and that would be a signal to plan a trade. Then I'd wait for price to get to the parallel, look for a test with good separation, then execute my trade on the retest. Sometimes price would do what I expected it to do, sometimes price would blow through my stop, sometimes price wouldn't reach the parallel, and sometimes price wouldn't get a proper test/rest. Of course you're not going to get every trade right, but consecutive losing trades made me question myself. Did I really understand these methods?

So I studied some more and tried narrowing down my scope, focusing on something simple instead of being all over the place. My plan is to daytrade QM (while charting CL), ES, YM, and NQ. And I'm debating about whether I should trade currency futures or not, but when I do try to trade them I get burned for some reason. I'm also planning on trading options for longer term plays (holding for a few days or weeks) because I can't afford the stop for holding a currency future -- meaning I can't risk the same amount in a longer term move or else I'll get easily stopped out.

The thing is that every day there won't be a trade, I understand that, but I'm still questioning and second-guessing myself. One thing I do every night is look back at the chart, replot median lines, and see what I missed -- this definitely infuriates me. Maybe I shouldn't do this, maybe I should accept that I can't stare at the charts 24/7 (and I can't because I work nights and have other things to do in life). Still, it makes me wonder if I'm doing this right or not.

This is why I say I desperately need a mentor, someone to show me whether I'm doing this correctly or not. Right now I'm only trading sim and I will continue to trade sim until I feel like I've grasped this. However, it still feels like I'm in sink/swim mode and I'm not doing anything. It's like learning a martial art by reading books and watching movies. Maybe you'll get it, maybe not, but you won't know until you're in a real fight. However, when you're taught that martial art by an instructor you'll truly learn. You'll see what works for you and what doesn't. And you'll know what to apply in a real fight thanks to the instructor.

Some people are gifted enough to read and watch the material to pick trading up, and I accept the possibility that I'm not one of those people. Tim Morge was lucky enough to be taught by Alan Andrews, and I think Alan Andrews was taught as well before he came up with median lines. I'll never be as great of a trader as those men, and if they needed mentors I most likely do as well.

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  #3 (permalink)
 
srgtroy's Avatar
 srgtroy 
Los Angeles, California Republic
Legendary  R.I.P. 1965-2023 
 
Experience: None
Platform: Sierra Chart
Broker: CQG
Trading: ES
Posts: 1,928 since Jan 2011
Thanks Given: 1,375
Thanks Received: 3,722


Consider the following site:

Lizard Trader

I am not affiliated with them in any way, but I think they have a nice, logical and simple approach with which to really form a base. The co-owner created many indicators for this site and his reputation is unblemished. They have a nice little free mini course to get you going.

Just a suggestion. No guarantees.

p.s. -- another suggestion is that you drop the options trading for now. That's for more advanced traders. Start with either Futures or Forex. Choose one and get it down.

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  #4 (permalink)
 
mk77ch's Avatar
 mk77ch 
Switzerland
 
Experience: Advanced
Platform: NinjaTrader
Broker: Dorman
Trading: Currency Futures, ES
Posts: 132 since Oct 2010
Thanks Given: 27
Thanks Received: 350

i think a good way would be to go with this guy:

YourTradingCoach | Because You'd Rather Be Trading For A Living!

I never lose. I either win or learn.
Nelson Mandela

The Potion
Konje
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  #5 (permalink)
 Bader 
Sydney
 
Experience: Intermediate
Platform: Sierra chart
Trading: Crude
Posts: 7 since May 2016
Thanks Given: 10
Thanks Received: 13

IMO, start a journal on here and ask members to critique your trading. Post up your charts and ask for feedback. Sometimes another set of eyes looking at your trading is all you need to turn that corner.

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  #6 (permalink)
 marin 
Sonoma, CA, USA
 
Posts: 44 since Aug 2010

Learn how to finger rub dowse...then you can ask your questions in any area and get a correct yes or no answer...

Here is a link on this...scroll down for description on finger rub dowse...
Deviceless Dowsing Archives | Discovering Dowsing

Take a look at The Divining Hand by Christopher Bird...a superb book on dowsing....why and how it works....discusses finger rub dowsing too...

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  #7 (permalink)
 bmtrading9 
Atlanta, GA, USA
Market Wizard
 
Experience: Advanced
Platform: MC and Jigsaw
Trading: ES, MES
Posts: 1,833 since Mar 2013
Thanks Given: 3,001
Thanks Received: 2,159

Just follow these threads, if you haven't done it already...no one can help you except you and only your brain...good luck








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  #8 (permalink)
 
Palais Brongniart's Avatar
 Palais Brongniart 
Paris France + Dresden Germany
 
Experience: Advanced
Platform: Proprietary
Posts: 181 since Mar 2018
Thanks Given: 41
Thanks Received: 200


N00bdayraider View Post
I've been trying to trade since 2012, by "trying" I mean losing money or trading sim to no avail for that long. I started with Options, and right now my capital is split between options, forex, and futures -- with futures containing the majority of it.

After scouring the Internet for years, watching tons of video and doing tons of reading, I came across Wyckoff. I read his stuff multiple times, saw videos explaining it all, and it seemed to make sense. The major players buy on dips and sell on bulges, whereas the retail public does the opposite. With Wyckoff's method you're supposed to use price movement and volume to look at when a stock is accumulating and distributing. It all made sense to me as I learned it, but when I looked at stocks I couldn't read volume for the life of me. It was just a bunch of bars that made little sense to me. Sure, price made sense, but I couldn't tell if price was accumulating or distributing because I couldn't tell what volume was doing.

Doing more research I came across Alan Andrews and his median lines. This was something I liked because all it required was price -- no volume, no indicators, just price. I read his original material and I didn't really get it, but I came across Tim Morge. I watched and read A TON of Morge's stuff. He really knew how to explain things. I admit I didn't get all of it, but I felt like I got enough of it to apply it. Following price and plotting out a median line seemed simple enough. I'd find the three major pivots and saw price act how Andrews said it should.

But putting it all into practice is where the difficulty and frustration came. I'd plot a median line out and watch price. It would touch the center and that would be a signal to plan a trade. Then I'd wait for price to get to the parallel, look for a test with good separation, then execute my trade on the retest. Sometimes price would do what I expected it to do, sometimes price would blow through my stop, sometimes price wouldn't reach the parallel, and sometimes price wouldn't get a proper test/rest. Of course you're not going to get every trade right, but consecutive losing trades made me question myself. Did I really understand these methods?

So I studied some more and tried narrowing down my scope, focusing on something simple instead of being all over the place. My plan is to daytrade QM (while charting CL), ES, YM, and NQ. And I'm debating about whether I should trade currency futures or not, but when I do try to trade them I get burned for some reason. I'm also planning on trading options for longer term plays (holding for a few days or weeks) because I can't afford the stop for holding a currency future -- meaning I can't risk the same amount in a longer term move or else I'll get easily stopped out.

The thing is that every day there won't be a trade, I understand that, but I'm still questioning and second-guessing myself. One thing I do every night is look back at the chart, replot median lines, and see what I missed -- this definitely infuriates me. Maybe I shouldn't do this, maybe I should accept that I can't stare at the charts 24/7 (and I can't because I work nights and have other things to do in life). Still, it makes me wonder if I'm doing this right or not.

This is why I say I desperately need a mentor, someone to show me whether I'm doing this correctly or not. Right now I'm only trading sim and I will continue to trade sim until I feel like I've grasped this. However, it still feels like I'm in sink/swim mode and I'm not doing anything. It's like learning a martial art by reading books and watching movies. Maybe you'll get it, maybe not, but you won't know until you're in a real fight. However, when you're taught that martial art by an instructor you'll truly learn. You'll see what works for you and what doesn't. And you'll know what to apply in a real fight thanks to the instructor.

Some people are gifted enough to read and watch the material to pick trading up, and I accept the possibility that I'm not one of those people. Tim Morge was lucky enough to be taught by Alan Andrews, and I think Alan Andrews was taught as well before he came up with median lines. I'll never be as great of a trader as those men, and if they needed mentors I most likely do as well.

Before you pay any money to Timothy Morge, consider this thread pls.:

https://www.elitetrader.com/et/threads/tim-morge-and-the-well-chosen-example.305061/page-23

I don't explain my charts. If you like to follow my trades, look for these lines.
Visit my NexusFi Trade Journal Reply With Quote
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  #9 (permalink)
 
Palais Brongniart's Avatar
 Palais Brongniart 
Paris France + Dresden Germany
 
Experience: Advanced
Platform: Proprietary
Posts: 181 since Mar 2018
Thanks Given: 41
Thanks Received: 200

https://www.elitetrader.com/et/threads/trading-with-without-a-mentor.333962/page-6

I don't explain my charts. If you like to follow my trades, look for these lines.
Visit my NexusFi Trade Journal Reply With Quote
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  #10 (permalink)
 
Oriole's Avatar
 Oriole 
Naples FLA
 
Experience: Beginner
Platform: Ninja Trader 8
Broker: NinjaTrader
Trading: Currency Futures, RTY, ES, NQ
Posts: 97 since Dec 2019
Thanks Given: 202
Thanks Received: 72


I need a fresh education start and want to say thanks for the 2 suggestions. Wondering if the Jigsaw Daytrader platform is a worthwhile expense at around $597? It’s all based on order flow and has some starter education. Thank You.

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