Maybe you could start a mentors type program Mike. Maybe some of them might be interested in it.
Be nice for some of the intermediate traders to maybe move to the next level of getting/staying CP and trading live.
I already post, do webinars, start discussions, answer questions, reply to journals and overall try to help where I can -- most of which is in the Elite section to support those who support the site.
I am not interested in mentoring. Tried it a couple years ago (free), overwhelming majority were not willing to put in the work, thus wasting my time.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
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I believe that PB's intent was to provide a forum where the professionals might be willling to work more closely with struggling traders. First of all, the futures.io (formerly BMT) community already has that to a great extent in my opinion. The problem with mentoring is that it requires a long-term commitment from both parties, and as Mike states the majority of students are just not willing to put in the effort. Meanwhile, those who do show that they are making the effort to improve will find assistance. "When the student is ready, the teacher will appear."
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"It is important to learn what other people have learned, but too many people have lived and died for me to learn more than a small fraction of what they have learned. There is a prodigious supply of information, facts, opinions, theories, suppositions, and doctrines, but the wisdom needed to sort through the mountain of trash in the hope of finding a gold nugget is not supplied."
-- Colin Low
use others methodology but create your own personal doctrine with it
But examine everything carefully; hold fast to that which is good;
Nothing so Impressive as Simplicity
Last edited by CRM5096; March 31st, 2012 at 07:48 AM.
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That comment says to me he is a trader. Such wisdom in those words.
We start by believing the answer is in the math, and end by discovering the answer is inside us. We can only become a trader by chiseling away at ourselves long enough to reveal it, and that is not a pleasant experience, and we do not always recognize the parts we are searching for. It is no wonder that many hope to bypass that process and instead purchase success from someone else.
Phantomtrader may have just delivered on the money spent. Even if the education you pay for is the best money could buy, and came with years of historical proof of success, all educations lack one important factor; you must find your own way.
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phantomtrader, so glad you posted. i too have come to the conclusion that you have to cook up your own recipe, having tried two "trade alert" services, one "challenge" program and assorted dvds, etc. obviously you can learn from all these other people but i don't really think you can copy. however, the challenge is to know when you are creating something unique and special, and when you are barking up the wrong tree. i wonder if anyone has studied how many trades you need to make to know if a system works? i'm going to ask some of the algo peeps around here.
Du sublime au ridicule, il n'ya qu'un pas. ~Napoleon Bonaparte
Curtis Faith / Richard Dennis proved that beyond doubt, and did so in a simple experiment ....the Turtle books have potent lessons...especially Curtis' book. They talk about the same thing as Mark Douglas...but more elemental. A mechanical, trader will never share his secrets, but for all others (discretionary types)....they could reveal their entire system and it would nigh impossible to repeat that performance. For discretion based executions, the mind is the weapon. How you going to copy that.....?
There is flip side to competing with pros and institutions. Much has been written about how we can't compete with them. This is wholly true but also misleading - you can be nimbler than them, you can change/evolve more quickly. You have greater choice as to not trade at all.
And more importantly, all pros face the same issues as you do - doubt, stress, miscalculation. They will make mistakes - same as you. They are not superhuman, and while we cannot compete with them on technology and access to information - all of us can compete on a mental level. The skills people bring from past successes or professional endeavors sharpen our minds. In that sense being successful in previous competitive/professional endeavors is much more important as it takes your biggest weapon and makes it better.
While one can easily say that pros make lesser mistakes and learn faster, but so can you. They do not have exclusive rights on how quickly they can sharpen their minds and subsequently their performance, you can too......
The retailers that acknowledge their disadvantages, recognize their strengths and sharpen those while minimizing their mistakes have that edge. The question is - do you recognize that your mind is indeed a weapon?.....do you sorta, kinda agree, disagree or is this something that is a burning belief in your mind.......
Last edited by Deucalion; March 31st, 2012 at 10:47 PM.
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