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 Giamsterdam4x
      Top Posters
    1. looks_one secondchance4now with 10 posts (7 thanks)
    2. looks_two CrudeDude with 10 posts (5 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 8,479 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)

 
Thread Tools Search this Thread
 

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

  #71 (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, 76 received


snax View Post
@TheBenefactor,



Thank you for sharing your thoughts, I enjoy seeing your perspective and I think we are on the same page about being creative and finding a way to grow as a trader.



I do both now, and though its a little strange, it does kind of work. I always feel like I'm living a bit of a double-life, but that isn't such a bad thing and it makes life more interesting!



This quote though is what I think we all want to find:







This is really the only reason I would switch careers, simply to gain knowledge. Maybe I will find it on my own, eventually. I do have a few theories on how you knew to short the close, assuming you took that trade. They could be incorrect, but I like this puzzle, that is just another reason why I love trading, ha!



Cheers!



Try not to get all starry eyed over a bunch of BS. Shorting the high because it was near the end of the day is really bad advice.

Also, just because someone made it as a professional trader does not make them a brain surgeon. Maybe a really big head, but no brain surgeon for sure.

Think of it more like being a professional golfer or a professional poker player. It is a special skill set for sure, and it takes a special mindset for sure. A poker player knows how to keep his emotions in check, stay confident in the face of losses, and most of all he knows how to keep the odds in his favor.

It is true that most people will never trade their way to success because most people donít have the correct mindset and they are just reinforcing bad mental habits every time they trade.

When I have traded in the past I have tried harder and harder not to lose money and the harder I tried the more I lost. Sound familiar?

The threat of pain, and the fear of losing money, and the mounting losses became so great that I had to quit trading until my emotions were back in check. Sound familiar?





Sent using the futures.io mobile app

Reply With Quote
The following 3 users say Thank You to CrudeDude for this post:

Can you help answer these questions
from other members on futures io?
Convert NinjaTrader NT7 indicator to Tradestation EasyLanguage and RADARSCREEN
Platforms and Indicators
Issue meeting order entry conditions
Elite Automated NinjaTrader Trading
Last 5 minutes Label
ThinkOrSwim
Moving average with Lag reduction
NinjaTrader
Linux?
ThinkOrSwim
 
Best Threads (Most Thanked)
in the last 7 days on futures io
FIO Journal Challenge - June 2020 edition w/SharkIndicators
59 thanks
Spoo-nalysis ES e-mini futures S&P 500
56 thanks
June Charity Fundraiser - Feeding hungry families
51 thanks
Fixed vs trailing stops
28 thanks
AMP Futures / AMP Global Review
27 thanks
 
  #72 (permalink)
Pensacola FL
 
 
Posts: 57 since Jun 2016

Bad or good advice - time is the judge

Actually 99% of free internet advice is bad.

If you read my post, I did not say "short the high all the time."

I said 99% of traders would not have known to short the high, just like right after the employment report, 99% of traders would not have gone long around 26413.

If 90% of the public thinks a certain idea is bad, then that is good, since 90% of traders lose.

Anyone here has the right to state my advice is bad or good; you also have the right to boo Tom Brady.

Know one here knows my history or the history of the people I have worked with for over 40 years.

Someone at our firm thought our advice was good or we would not have managed over a Billion dollars.

By the way, I keep in touch with my successors at said firm, who are now running over 6 Billion dollars.

They were buying the lows so I jumped in with them.

Please remember this: The smart money does what 90% of the public thinks is stupid.
TB

Reply With Quote
 
  #73 (permalink)
Legendary Market Wizard
Chicago
 
Experience: Beginner
Trading: MYM, MES, YM, ES
 
snax's Avatar
 
Posts: 1,144 since Feb 2019
Thanks: 4,822 given, 4,179 received



CrudeDude View Post
Try not to get all starry eyed over a bunch of BS. Shorting the high because it was near the end of the day is really bad advice.

Also, just because someone made it as a professional trader does not make them a brain surgeon. Maybe a really big head, but no brain surgeon for sure.

I was really just referring to knowledge of market-behavior that takes years to acquire. I wouldn't have thought to short that close either, I usually stay away. But I found it to broaden my perspective in terms of general market behavior that I am unaware of at present. Not the particular setup, but the "why" behind it...the general idea of "I know so little, and there is so much potential, given a sufficient level of knowledge of how the market works".




Quoting 
When I have traded in the past I have tried harder and harder not to lose money and the harder I tried the more I lost. Sound familiar?

Yes. I found that no matter what I did I would lose. I would go back to sim and win. Come back to live and lose. This has changed now, but it is a careful, painstaking process like picking through thorns and brambles to get a few berries for the time-being, if that analogy makes any sense

Feel free to call me "Bad Analogy Guy" moving forward if necessary. Cheers!

Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to snax for this post:
 
  #74 (permalink)
Pensacola FL
 
 
Posts: 57 since Jun 2016

A different view

What I try to do within the boundaries imposed by the "terms of service" is to present a true picture of the world
of High Finance, Wall Street and mega money.

On most gatherings of traders, speculators, curiosity seekers the dialog is palpable.

The image, of course is that a few "enlightened" people have found the holy grail by back testing or buying some indicator or taking some $29.00 course or attending a webinar.

The markets are still run by mega corporations. When they buy markets go up; short then the markets go down.

The only way to make money almost all the time is know what the corporations are going to do (I worked for them so have been part of this).

That is why the big boys have Gulf Stream jets.

We can move the markets short term and teams of researchers let us know what the government reports are going to show at 8:30 am for example.

The only people "surprised" are the people not in the know.

The $29.00 Fibonacci / regressive wave system is not going to beat Goldman Sachs.

If you understand this, and accept it, one can make a decent living trading.
TB

Reply With Quote
 
  #75 (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, 76 received

Itís funny because if Mark Douglas had charged anyone here 50K for a mentorship they would be doing everything he said to do, and working very hard to listen to everything he has to say. But I guess because itís in a book that cost $30 people around here think it is just ďshitĒ


Sent using the futures.io mobile app

Reply With Quote
The following user says Thank You to CrudeDude for this post:
 
  #76 (permalink)
Amsterdam
 
Experience: Beginner
Platform: Sierra Charts
Broker: AMP
Trading: FGBL, FESX
 
Giamsterdam4x's Avatar
 
Posts: 82 since Jan 2018
Thanks: 121 given, 79 received

Great Post! Im trying to figure out how to send you a DM but doesnt seem possible?!


Huaba View Post
To be very honest, it's attitude like OP's where I know the guy is not gonna make it without a personality overhaul.

Nobody owes you anything, nevertheless people put in effort to help you out or at least get your facts straight and prevent you from chasing a pipe dream.

Usually you can see some improvements after 6 months break even or small win after a year and a good life after 3 years IF you put in the hours. Practise doesn't make perfect, perfect practise does.

So if you are still running with the sheep you must have done something wrong. And my educated guess is that you tried to copy a method that either did not work or you did not understand.

So my proposal is as follows:

Get yourself a journal, tradervue.com works best for this. Also get yourself a notepad, I'd suggest a simple google drive folder you can share.
Every day you write down were Gold trades and the $ difference to yesterdays close, do the same for the ZN and the ZB, Copper, Oil, the EURUSD as well as AAPL, FB, C and XOM

Next you write a commentary about todays headlines (if there are any), important prices (like 1400$ in Gold right now).

Next, you outline the trades you want to do for the day. Don't put in too much detail, things change quickly anyways. Just a basic plan and a reason for the trade. E.g. "Looking to buy the bounce in the ES when Gold drops below y and ZN doesnt go above x"

This should take about an hour.

Then you trade.

After your trading day, put all your executions into tradervue.com and add a commentary what you did and why below every trade you made. Next, you write a review of your trading day, what happened during the day, if any important prices have formed, relevant news and sentiment changes. This will be the basis for tomorrow.

It does not matter weither you have 50 trades per day or 2 trades a week. You need to do your daily prep every single day.

Do this for an entire month, then come back and share relevant trades and stats you have collected via tradervue, share your notes in your drive folder and then we can talk.



If you are willing to do the work, you will see improvements even after one month. If you are not, there is no point for you to look after a mentor since you either will fail again or get kicked anyways.

Good luck.


P.S.: A guideline about real life trading can be found in the book "An end to the Bull" by Gary Norden. He discusses how to create watchlists and organize yourself.


Reply With Quote



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




Upcoming Webinars and Events
 

Free BloodHound Licenses for everyone!

June
 

Every journal equals ten meals for the hungry

June
     



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