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I am looking for a experienced mentor. I am completely confused and need help in the worse way. I trade CL and starting trading 3 years ago. I consider myself "serious" starting May of 2013. I have good stats, but can't seem to glean an edge. My stats give me good info regarding CL daily range, how often O/N hi and lo is broken, how often the 15 min range is broken and to what side...etc. I'm not looking for someone to give me an edge or tell me what to do. I just need the support of someone to keep me on track from time to time. I am lost. I'm not looking for a vendor (nor will I pay for one). I pay as much as I'm going to pay right now for data feed and software.
I'm not really expecting much, but if anyone is trading fulltime and has been consistently profitable for a number of years, and wouldn't mind receiving an occasional email/call from me....please let me know. I know fulltime traders are busy with their own lives, so I won't take much time and I'll keep right to the point.
Thanks wldman. My lack of journaling is probably a major problem. I'm just not really sure what to journal when I don't have a good methodology. Any good edges I find seem to only give me a trade a couple times a month (if that). I'll keep trying to find some daily trades. I'd prefer an edge that gives me a couple signals a day, so I'll keep doing my homework and hopefully something will emerge.
You really should start a journal if that is what you expect.. There are plenty of people who will give you some input if asked I do believe.. The answers to your situation are fairly straight forward if you will put in the time.
A couple of questions:
1. Do you have a defined edge that will deliver you the results you are looking for?
2. Is that trading edge consistent with your personality type?
3. Is it written in a detailed trading plan?
4. Have you back tested this trading plan at length to validate its edge?
5. Have you traded it in SIM long enough to insure you can see all of the setups well enough at the hard right edge?
6. Have you then taken it live and seen what gaps you have from your theoretical plan and your ability to trade it?(most likely psychology issues)
If you haven't completed all of these steps .. you do not need a mentor.. you need to go back to work.
What you need to work on should be very very obvious.. And there are plenty of threads on edges, trading plans, psychology, as well as some great books..
Thanks Traderwolf. After having a night to sleep on it. I think I became overly frustrated yesterday after looking at stats all day and not finding a true executable edge. That is probably just part of the journey to finding an edge. Truthfully, I think I just wanted an edge to "come" to me. I wanted to just watch the market and see an edge jump off the page. After realizing it takes real work. I started using my software and creating stats to find an edge. Well, I haven't found and edge yet, but I learned a LOT about my software and how to test using excel over the last week. Back at it today.
For me, strip it back and try to journal the conditions of the market and your system when you enter and exit. You basically want to journal not just for the sake of it but as a tool to learn from and not repeat mistakes and to improve and to try and enforce rigor in sticking with your trading plan.
E.g. where you followed it incorrectly, you let emotions make you do something different than usual. etc. So you can see patterns in behavior that have worked against you. And I think also record where it worked for you. In the case of the latter to know what you should continue to do.
Regarding mentors, just try and use the forum actively and make friends, that has worked for me to meet some very knowledgeable people and they've been very friendly across the board. A pleasant exception in comparison to other forums I've seen.
