I am looking for highly-motivated people who are keen on learning financial trading to work for others or trade on own account.
I can mentor only those who possess any basic skills they need for their own career development besides helping me develop e-trading lab, algorithmic programming platform and e-learning or video lessons or webinars for non-profit learning courses.
Skills required are relating to:
- Experience with mobile platforms - Metratrader 4 and/or Interactive Broker's IBKR
- Production of video or e-learning lessons
- Speaking or making a presentation for a webinar
- Algorithmic (algo) programming or Metatrader EA
I will personally mentor them free of cost in exchange for their time for producing community e-courses for the elderly community.
I have no commercial agenda but I am confident by the time the trainees complete producing the courses, they would be in a position to trade by themselves (if they are sufficiently funded) and can demonstrate live trading publicly and effortlessly with full confidence.
If they have oratorical skills, they can become educators as well and pursue their own career.
What qualifies me as a mentor?
I am nearly 70, a retired Financial journalist, having experience of trading Currency options (35 years) and online fx spot trading since 2004.
I use a combination of fx spot, currency futures and currency futures options.
Based on my experience:
Fx spot traders need deep pockets and a high tolerance for risk. Underfunded traders (minimum $25,000), as well as those who can't handle their psychology, should keep away from real-trading and do simulated trading for months before thinking of trading with real money. Psychology factor contributes 85% to success and skills account only for 15% because you are trading against unseen forces of demand and supply.
Fx spot or Fx futures exposure is linear. For $1 move the instrument will gain or lose the value of $1.
On the other hand, Option buyers enjoy the prospects of achieving exponential growth in their account. Health insurance is basically a Put option. Think of the kind of non-linear exposure gains a health insurance policyholder/buyer enjoys. A payout of $100,000 as reimbursement of surgery costs while the premium paid was just $2,000 a year!
Look at how just changing from linear to minor non-linear (compounded) exposure gets better returns:
Buying of Fx options needs small capital of $5,000 and need skills of predicting breakouts in the shortest possible of time. Psychology factor is not that important because the risk, breakeven, probable profit or loss can be figured out before trading.
Selling Fx options need $25,000 (selling options won't be approved by brokers easily) and strong skills of managing risks. A seller is like an insurer who sells 2,000 health policies and willing to take some risks and looking for a limited but regular income.
Buying and selling of Future options as a spread or a combo is again a skill requiring risk controls.
If you trade on mobile, you don't need any technical analysis skills of your own. All are available free on the internet. A dozen of free sites provide you with all the information you need.
Why should you learn to do technical or even fundamental analysis when experts are doing it for free of cost. Employ experts free of cost.
Why do you want to get involved in doing all mundane things except to give space to your brain to make a decision?
How to focus will be taught by me from my personal experience.
I will help you reduce stress, and make your trading clutter-free and efficiently provided you are sufficiently funded and have high motivation to do it without overloading your brain with information or get distracted by the market noise or lures of earning quick and big money by investing tiny capital.
Just focus on what you want to be?
A trader. Yes. But have no money. So what?
Just focus on trading on your account from 3 years from now.
Yes, you can be in a win: win situation if you decide to pick up the trading skills waiting for capital to be raised Without investing your money but your time you remain focussed on your ultimate goal of trading in future.
Get a career education and become a gig - trainer in your spare time - and save money.
Trading like any other profession needs at least three years of time to pick up skills.
I can mentor you without expecting any reward in you becoming an educator, trainer and programmer in six months of time.