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Need a true Teacher Mentor


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Need a true Teacher Mentor

  #41 (permalink)
Chicago IL
 
Experience: None
 
Posts: 12 since Apr 2019
Thanks: 1 given, 10 received

I feel your pain, many here do. Been trading 4-5 years and while I'm making improvements, still not where I want to be. Every successful trader seems to have had a mentor, I never have. I've always found this frustrating and discouraging. However, a mentor doesn't NEED to be someone in real life that you talk to on the phone or in person each day. A mentor can simply be a successful trader's video, book, article. I've accepted that this is the next best thing.

Take for example the Market Wizard series books. These are essentially distillations of hundreds of mentors giving their best wisdom, TO YOU. When you read their words, pretend they are talking directly to you. Believe and implement every word they say. So what if it's on a printed page. It's the same thing they'd tell you if you sat down with them for coffee.

On a final note, one wizard I really really resonate with is Marty Schwartz. Marty lost money for 10 years before he finally figured things out and guess what, he didn't have a mentor. He figured it out all on his own and then went on to be one of the most successful traders in history. He's driven, likes to work alone, and has never ever given up.

Never give up. Ever. If you want to trade, you will find success eventually.

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  #42 (permalink)
Naples FLA
 
Experience: Beginner
Platform: Ninja Trader 8
Broker: NinjaTrader
Trading: Currency Futures, RTY, ES, NQ
 
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DrPatrick View Post
I highly recommend Randall Hudgens as a trading coach and mentor. He loves options but also trades futures. He teaches daytrading, but also swing trading and longer term trading. He is the real deal and also works with a trading mindset coach (who I also highly recommend.) You can see him on Twitter @stkoptioncoach or his website https://www.stockoptioncoach.com/. He is a great guy and the real deal.

How much does he charge?

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  #43 (permalink)
Fort McMurray, AB Canada
 
Experience: Beginner
Platform: NT, MT4, Jigsaw
Broker: Continuum
Trading: ZN, ES
 
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Posts: 142 since Mar 2015
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trader1419 View Post
On a final note, one wizard I really really resonate with is Marty Schwartz. Marty lost money for 10 years before he finally figured things out and guess what, he didn't have a mentor. He figured it out all on his own and then went on to be one of the most successful traders in history. He's driven, likes to work alone, and has never ever given up.

Never give up. Ever. If you want to trade, you will find success eventually.

Pitbull by Marty Schwartz was a fantastic book. I read it a couple of months ago and it was highly entertaining while also showing his drive and motivation.

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  #44 (permalink)
Frisco
 
Experience: Beginner
Platform: Sierra Chart,NinjaTrader
Trading: Emini ES
 
Posts: 1 since Mar 2017
Thanks: 5 given, 0 received

Price action can help you. I was in a similar position and i have seen lot of improvement. I have not been consistent in profit making , but my winning rate has increased after joining here. You can trade Oil, ES and other Futures with mechanism thought in this group.

https://www.oiltradinggroup.com/

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  #45 (permalink)
Netherlands
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: IB, NinjaTrader Brokerage
Trading: Futures
 
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Posts: 94 since May 2012
Thanks: 117 given, 176 received

Be wary of posts directing you to algorithmic / system trading. I would say this is a difficult and slippery path where curve fitting makes a system looks great in a backtest but will likely not make profits trading live. At least not in the long run. This also would require a lot of education (which I am sure they would like to help you with).

If you like to be active this is not for you (I would say). You could not sit on your hands seeing your system burning money and trusting it's gonna be okay.

Linda Raschke knows a lot of professional traders. This is what she wrote:

"Iíve known hundreds of professional traders throughout my career. I donít want to disappoint you, but I know of only two who where able to make a steady living for themselves with a mechanical system. (I am not counting the well-capitalized CTAís who are running a money-management program with ďOPMĒ Ė other peopleís money.) All those other traders used some type of discretion that invariably involved watching the price action at some moment Ė even if just to move a stop up or down."

Source: Linda Raschke, Tape Reading (read the article)

Focus on the foundation, what makes price move.

Take care,
-Mich

p.s. riding a bike, swimming, skating, car driving and so on. You will only learn by doing (and by making mistakes). Don't be hard on yourself, be patient, go slowly and remember capital preservation comes first.

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  #46 (permalink)
Dubai, UAE
 
Experience: Advanced
Platform: Sierra Chart, Ninja Trade
Trading: ES, CL, FX
 
Posts: 9 since Mar 2012
Thanks: 208 given, 4 received

I'm not affiliated, and can strongly second what Pilot has written before about SMB Futures and Merritt Black.
He's a futures trader first and foremost (within the SMB Capital prop desk structure, and yes, the firm mainly trades stock, but Merritt only trades futures and some options).
He traded live on youtube for several years every day at the CL open for everyone to see. No hype, no bs.
He's a consistently profitable trader.
And he is in the process of building a futures desk within the SMB structure, hence the coaching and mentoring.
He is backed by years of experience within SMB rg. what it takes to become consistently profitable.
He's had his ups and downs, he knows what it's like and what it takes.
He is walking the talk.
I can highly recommend him as a personal coach.
And depending on your level of knowledge, his "futures foundation course" as well.
He does group mentoring which is less expensive than individual coaching.
In both he teaches EVERYTHING he uses daily, shares his screen setups, shows his trades and reasoning behind them.
He's a very successful trader, who also coaches.
His motive is NOT making money through coaching, but finding talented traders who want to trade for the SMB futures desk.
Dr. Brett Steenbarger refers to him in several blog posts and uses him as a positive role model / example.
If your serious about finding a coach, you need to check out Merritt Black.

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  #47 (permalink)
Bangor Maine
 
 
Posts: 21 since Nov 2018
Thanks: 12 given, 19 received

WOW ---- Sure are lots of do this and don't do that . It goes to show there are many ways to succeed and also to fail . One person mentions 4 years may not be enough time and I don't disagree with that as it took me more time then that . That being said I know people who caught on really quickly , sure wasn't me . My biggest mistake was trying to look at several mkts at once rather then to really concentrate on one . Once you master one mkt others will become much easier . It took me years of chart time , every single time the mkts. were open to grasp hold of a plan that worked for me . I also made the mistake of trying to find the perfect plan where I would never lose and there is no such plan . Remember what works for one may not work for you . The best plan may just be the one you come up with as you gather knowledge over time . I never stop looking for ways to improve , that's what makes trading so interesting to me . There are many ways to to succeed at this the question is will a mentor do that for you . A mentor will will hopefully show you what works for them , the question is will his or her methods work for you .

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  #48 (permalink)
Market Wizard
Columbus OHIO
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES,
 
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DavidHP View Post
You can use any system that has an edge for you.
The reason I suggested a mostly empty chart with just moving averages is because the exercise is to get screentime in the market of your choice. If you put moving averages on a chart you should understand their purpose. They are to show how extended from the 'average' price is. They give you and idea of the way the market moves above and below average and then returns. (rhythm).

I personally don't take trades from standard moving averages. My trading chart uses anchored VWAP mostly but I have at least one ema/sma on my charts.

Here is a chart I posted in a different thread.
I posted it to show how I was thinking short but the market was saying ??? You are going short when the market keeps bouncing from the 50. What are you thinking.
As you can see, the average shows the market is in a uptrend and shorting was not wise unless it was a scalp at the top of the rhythm waves. (there was more risk to be short)

50 Bounce (ES on 1000 Delta Chart)

might be having a brain fart but care to explain the "1000 delta chart" that makes my 4500 tick look like a sloppy mess. And honestly would rather trade off that, looks very clean... and I thought my 4500 tick was clean.. please share details/set up. Is this an add on I assume?

-P

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
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  #49 (permalink)
Denver, Colorado
 
Experience: Advanced
Platform: NinjaTrader/TOS
Broker: TOS/DTN IQFeed
Trading: Emini ES/NQ
 
Posts: 3 since Jul 2018
Thanks: 1 given, 4 received


Big Mike View Post
Why not post in public? Instead of spending all of your time (the most valuable commodity on earth) in a single private message thread, if you make public posts then tens of thousands benefit simultaneously.

Plus, your kind of post is notoriously suspicious -- in my experience, it usually indicates you want to "recommend" something for them to buy or subscribe to, but don't want to get banned so you do it in private. Of course, "usually" does not mean "always". I'm sure you won't be doing anything like that...

Mike

Sorry Mike,

New to posting here. Not always easy for me to see if it is private or public. Great community here. I dislike vendors and snake Oilers in the industry. Wont get any of that from me.

Cheers.

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  #50 (permalink)
Fort McMurray, AB Canada
 
Experience: Beginner
Platform: NT, MT4, Jigsaw
Broker: Continuum
Trading: ZN, ES
 
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Posts: 142 since Mar 2015
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MiniP View Post
might be having a brain fart but care to explain the "1000 delta chart" that makes my 4500 tick look like a sloppy mess. And honestly would rather trade off that, looks very clean... and I thought my 4500 tick was clean.. please share details/set up. Is this an add on I assume?

-P

Ninjatrader has delta bars, although Iím not certain what platform @tigertrader uses.

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