What kind of work can I put in to earn a mentor? - futures io
futures io futures trading



What kind of work can I put in to earn a mentor?


Discussion in Traders Hideout

Updated by Giamsterdam
      Top Posters
    1. looks_one CrudeDude with 10 posts (5 thanks)
    2. looks_two secondchance4now with 10 posts (7 thanks)
    3. looks_3 snax with 6 posts (19 thanks)
    4. looks_4 bobwest with 5 posts (26 thanks)
      Best Posters
    1. looks_one Massive l with 5.5 thanks per post
    2. looks_two bobwest with 5.2 thanks per post
    3. looks_3 TheBenefactor with 4.0 thanks per post
    4. looks_4 snax with 3.2 thanks per post
    1. trending_up 9,578 views
    2. thumb_up 151 thanks given
    3. group 39 followers
    1. forum 75 replies
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

What kind of work can I put in to earn a mentor?

(login for full post details)
  #11 (permalink)
Jersey City, NJ
 
 
Posts: 13 since Jul 2019
Thanks: 0 given, 11 received


mtzimmer1 View Post
I have never traded them so Iím not sure but Iíve heard the liquidity on the micro currencies is thin. Take a look at the new micro e-mini futures. I have traded them and have no issue with fills. /MES /MNQ /MYM

Yeah, those are more liquid, definitely, but the margin requirement is higher.

Reply With Quote

Can you help answer these questions
from other members on futures io?
Looking freelancer for MT4 Indicator
Platforms and Indicators
Atm strategy help
NinjaTrader
EQIX - Digital REITs - any experiences?
Stocks and ETFs
Where is the link to download GomiRecorder?
NinjaTrader
Horizontal Line Indicator
Platforms and Indicators
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Legal question and need desperate help
142 thanks
Building a high-performance data system
17 thanks
FIO Journal Challenge - June 2020 w/SharkIndicators
14 thanks
Is Orderflow An Outdated Concept?
11 thanks
VWAP for stock index futures trading?
11 thanks
 
(login for full post details)
  #12 (permalink)
Legendary Embracer of Uncertainty
Indianoplace, IN
 
Experience: Intermediate
Platform: SierraChart
Broker: CQG
Trading: All Micros, especially the ones that move
 
Rrrracer's Avatar
 
Posts: 2,181 since Feb 2017
Thanks: 14,590 given, 8,113 received


secondchance4now View Post
Any idea how to pick a contract to start trading?

I was thinking of the micro currency futures since the margins for that tend to be around $100-$200, does that mean I'll be risking less with that? I want to learn and practice by starting with something that has the least amount of risk.


I've been trading the micro 6E and 6B futures for a while now; if you want to day trade, stick with M6E, it's the only one that has enough liquidity to do so. The rest are good for swing trading.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Rrrracer for this post:
 
(login for full post details)
  #13 (permalink)
Jersey City, NJ
 
 
Posts: 13 since Jul 2019
Thanks: 0 given, 11 received



Rrrracer View Post
I've been trading the micro 6E and 6B futures for a while now; if you want to day trade, stick with M6E, it's the only one that has enough liquidity to do so. The rest are good for swing trading.

Do I need to stare at the screen all day to day trade? I have a fulltime job so I can't do that.

I'm okay swing trading though.

Reply With Quote
 
(login for full post details)
  #14 (permalink)
Legendary Embracer of Uncertainty
Indianoplace, IN
 
Experience: Intermediate
Platform: SierraChart
Broker: CQG
Trading: All Micros, especially the ones that move
 
Rrrracer's Avatar
 
Posts: 2,181 since Feb 2017
Thanks: 14,590 given, 8,113 received


secondchance4now View Post
Do I need to stare at the screen all day to day trade? I have a fulltime job so I can't do that.

I'm okay swing trading though.


You've answered your own question All of the micro currencies provide low risk, low margin, low cost swing trading.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to Rrrracer for this post:
 
(login for full post details)
  #15 (permalink)
Jersey City, NJ
 
 
Posts: 13 since Jul 2019
Thanks: 0 given, 11 received


Rrrracer View Post
You've answered your own question All of the micro currencies provide low risk, low margin, low cost swing trading.

Alright time to have swing trading M6A and M6B...with paper money of course.

Reply With Quote
 
(login for full post details)
  #16 (permalink)
Site Moderator
Sarasota FL
 
Experience: Intermediate
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 5,807 since Jan 2013
Thanks: 45,065 given, 19,542 received

Just a few thoughts:

- The best thing you are likely to do is start a trading journal here on futures.io and post your trades, charts, reasoning, etc. Post as much or as little as you feel you want. (The trades can be in simulation mode -- paper trading -- that's what most people start out with). Everyone here who reads your journal will be pulling for you and will offer their suggestions (you, or course, will have to decide what works for you.)

- Read some of the other trade journals on this forum. Everyone has started somewhere, and some are struggling, while others have gotten past that and are successful. You can learn from both. It helps to see someone working through the same issues that you are (and everyone has the same issues, basically), and it helps to see someone who is doing well.

- Pick something you will trade to start with. The currency micros and the stock index micros, any that suit you, would be good choices. Try some and see. (Some of the currencies have heavy European participation, such as 6E -- the Euro -- and so they have good volume and liquidity before normal US work hours, which would let you work around your regular work times.)

- Simulation (sim) only works for so long, because it has no real monetary risk, and so has a totally different psychological feel compared to real money trading. You'll need to get into live trading at some point. Just be aware of this. Margins for stock index micros are typically in the hundred-dollar per contract range for most brokers (day trading margins -- overnight is higher), and commissions are typically in the one dollar or less range per contract on an all-in (all fees included, including exchange and data fees), round-turn (both the buy and sell) basis. You may want to look around to see what deals are out there. Many brokers will let you try a trial basis of a couple of weeks, during which you can trade in sim, and this often can be extended for another couple of weeks, so you can shop around while you learn.

- If you like what you see in the other traders' journals and in the support you get in your own, you may consider an Elite membership, which gives you access to the broader community of more traders' journals and other threads... but only if you see there's something here for you; it's entirely your choice.

The original question of this thread was how to find a mentor. You've already gotten the idea that basically, you will be your own mentor. There are a lot of people here who will pitch in, and we have all gone down this path before. It isn't easy, but it's rewarding and can be fun. (Also, exasperating. But you do learn. That's life. )

I definitely wish you luck with this project. I think you will see that the membership will rally to assist you. Be ready for a thousand different suggestions, though.

You'll need to pick though them based on what resonates with you and what works out when you try it. Again, good luck.

Bob.

Visit my futures io Trade Journal Reply With Quote
The following 8 users say Thank You to bobwest for this post:
 
(login for full post details)
  #17 (permalink)
Minneapolis
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Optimus Futures, CQG
Trading: E-mini ES,
 
LonnieMSP's Avatar
 
Posts: 27 since May 2019
Thanks: 281 given, 45 received

Start trading and keeping a journal. Find a meetup group and attend regularly. Most of the folks who go to groups like that are not trustworthy and/or are not mentor material, but sometimes you'll find veteran traders will attend and be looking to share their knowledge with those who are hungry and willing to listen.

Reply With Quote
The following 3 users say Thank You to LonnieMSP for this post:
 
(login for full post details)
  #18 (permalink)
Los Angeles, California, United States
 
Experience: Advanced
Platform: ThinkOrSwim, Ninja Trader
Trading: Futures
 
Posts: 115 since Aug 2013
Thanks: 5 given, 76 received


secondchance4now View Post
So what kind of work should I put in? How can I show a mentor I'm worthy?
...

If that's not enough, what else should I do?

A good start would be to be very specific. Saying I would like to find a trading mentor is like saying I would like to find a car racing coach. What kind of car racing, Formula 1, NASCAR, Drifting, Rally...you get the point.

What is your specific goal? Intraday trading, swing trading, position, options?
What have you accomplished thus far? How long have you been paper trading?
What is your current trading strategy and why?

Best,
-John.

Reply With Quote
The following user says Thank You to john5 for this post:
 
(login for full post details)
  #19 (permalink)
Phoenix Arizona
 
Experience: Beginner
Platform: Global Zen Trader
Broker: GFF Brokers
Trading: Crude CL
 
CrudeDude's Avatar
 
Posts: 86 since May 2019
Thanks: 13 given, 77 received

Before you start trading, forget technical analysis and start working on mental analysis for a month or two until you figure it out.


Sent using the futures.io mobile app

Reply With Quote
The following user says Thank You to CrudeDude for this post:
 
(login for full post details)
  #20 (permalink)
New York, USA
 
Experience: Advanced
Platform: Sierra Chart
Trading: RTY, ES, YM, NQ, CL, NG, GC, HG
 
Posts: 54 since Oct 2016



secondchance4now View Post
No, I'm not going to outright ask for a mentor, that's presumptuous. I'm sure there's over a gazillion requests for a mentor. And I get why mentors don't want to take up every offer or why they don't advertise mentorship...it's just not worth it. It's a lot of time and energy spent on someone you know is going to make a lot of mistakes at first, is probably going to frustrate you, but you want it to pay off in the end.

So what kind of work should I put in? How can I show a mentor I'm worthy?

I've thought of posting my paper trades, because I sure as hell am not ready to trade futures with real money. And with each trade I'll post my thought process. If I do that enough times, will potential mentors out there give me a chance?

If that's not enough, what else should I do?

I've heard from some people I should just paper trade until I figure things out. Maybe, maybe that'll work, but it's better to learn from someone with experience.

Take care everyone.

First and foremost, you need to understand that trading is very personal thing and is completely different to EACH successful trader. 90% of people starting to trade failing to understand that the biggest fight they need to win daily in order to make money and be consistent is not against other market participants. That fight is against their own bad habits and lack of discipline. Each trader (just like every human) has a unique psychological profile, temper, level of patience, various personal reasoning and other factors that will directly impact the way he / she trades.

I would strongly suggest to start by signing up to one of the groups that have reputable track record and following them for a while. One of such places is Convergent Trading. The guy who runs that community - FT71 aka Morad Askar also runs his own Prop Firm and has very unique approach on prepping new traders for this business. He focuses a lot on psychological profile of the trader as well as market context. This will be a good starting place for you so you can follow his daily briefings, listen to other people in that community and ask any questions you may have. You can also paper trade at the same time. Once you feel comfortable about your trading routine you can dip your toe into Micro ES and start live trading without having significant risk. Remember, in order for you to learn and progress you must have a skin in the game and micro contract will force you to take your journey seriously because you will have your own money at risk. Becoming consistent and being able to execute your trading plan while sitting on hands when you do not see the setup that allows you to execute your trade is essential. Confidence and psychological comfort is the most preciouses commodity trader possess.

Remember, you only need to master 1-2 trade setups and practice them until you be able to execute them with your eyes closed (this is the level of confidence you need). Once you achieve this level of consistency you can consider yourself a success.

Reply With Quote


futures io Trading Community Traders Hideout > What kind of work can I put in to earn a mentor?


April 20, 2020


Upcoming Webinars and Events
 

Getting Comfortable with Price Action Patterns w/Earn2Trade

Aug 4
 

Live Video Panel: Ask Me Anything w/Ironbeam Brokerage

Aug 6
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
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