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If you needed one-on-one help with any trading issue, how much would you pay?
This poll is designed to ask people about one-on-one help they may need (or have needed in the past) with their trading. I want to better understand the needs of the community.
I am very new to trading, in fact have only traded my broker's recommendations and she of course puts them in. If I could dream up anything it would be for someone to show me a simple indicator and point out where i could enter and exit the trade. People talk a lot about "finding their edge" and I'd just like to be able to put in a trade on my own. I have tried the CME simulator and I have learned it is hard to trade, :-) indicators or not. I feel like I am guessing. A guide would be great.
Anecdotally...I don't think I have read, or heard, of anyone paying for one-on-one help and it actually leading to sustained success. Mostly it seems to lead to hard feelings on the part of the payee. I sort of like the idea of handing someone some cash and having them show me how to shore up my trading issues. I like the simplicity of that. But I think my skepticism will always prevent me from going down that road. For my money, the tried-and-true method of bombing and putting the pieces back together again seems like the only way to go.
I think that someone who is successful has had to work within themselves to deal with their own difficulties in trading. I don't really think this can be taught to someone else, who will inevitably have their own issues, which will not be exactly the same as the teacher's were. So while the teacher can teach the intellectualized version of his trading, he may not (and probably will not) be able to teach how he overcame his own obstacles in trading, since his obstacles and anyone else's obstacles will be different.
This is all aside from the question of whether the teacher is really any good at what he's supposedly teaching, which is a matter of whether he is genuine. Many are not.
I have learned a ton of things from others, and often not from someone with some special knowledge either -- but I have never found something that I could just put in place as it was taught and had it work. Most of what I have learned from others has been when they said or did something that illuminated the shared experience of traders, what we all go through.
So I am skeptical of seeking paid (or even free) help. It may not always be a bad idea, but it doesn't suit me very well, and I don't really believe in it.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
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Posts: 5,048 since Dec 2013
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Replied No. To me this poll is as much a "Can you find somebody worth paying?" as it is "Would you pay them?". Since I think the answer to this first question is generally no, the second part became moot.
Saying all of that I have taken @kevinkdog course and it was money I have no regrets spending. So maybe I shouldn't have responded no.
I am lucky that if trading wasn't my career it would be my #1 hobby. In reality it is my career and my #1 hobby. So I spend a lot of money and time and trading not just for the financial rewards, but also for the enjoyment (I restrained from using entertainment) I get from the time I spend. (I genuinely get a kick out of running risk of ruin monte carlo simulations on my laptop in the evenings, regardless as to whether it impacts my actual trading.)
Some of the most painful times in trading also happen to be the moments where you learn something crucial about yourself or the market. No one can force these awakenings on you. There are of course those who are of great help along the way, but in my opinion this help is usually in the form of expanding your awareness or seeing things in a different light. It is up to you to take that help and run with it.
Collaboration in small groups is valuable, but what passes or help or mentoring around the retail industry is a complete waste. I would require a significant amount of empirical evidence on the efficacy of their methods before I paid for any such service.
I did not mean for coaching or "how to make money". I was talking about people that need help first time setting up their platform, charts, etc. People that want custom indicators created. This kind of thing.
