DislikedI suppose it's wishful thinking to consider turning this thread back toward the title--Forex Mentors-The Best Investment You Can Make?
Daytrading: I'd like to know what your definition of a good mentor is, or if you even believe there is such a thing. This isn't a challenge. Your posts tend to go a few layers deeper than most and I, along with others, value your opinion. And maybe you could tell us a little about how you became a trader. I'm convinced that you're successful and it would be interesting to know a little about the road you...Ignored
Welcome to the geriatric club, hahaha. I remember the DM very well and times without computers that would fit in a suitcase.
Sure, mentors exist - otherwise the term would not exist. I would say though, to cross path with an individual that could be that person who takes it upon him/herself to look after you in an almost parental type of way, protecting you, passing on wisdom without prejudice and only having your absolute best interest in mind - without charging you a penny - is one of the rarest occurrences.
It is in my opinion not someone you will find - a mentor will find you, because you display attributes that would attract such a person in a given environment. There is a lot more chemistry behind such a relationship than the mere wish for the pupil to learn, or the mentor to teach.
I came across someone like this very early in my career - when I first worked for a broking/investment house in Frankfurt. I used to be the guy who wrote prices on the board for the brokers/traders of the deposit and bond department. I was of course eager and inquisitive, but so were most of the newer people there. That person saw something in me that I didn't even believed I had - so he got me on the trading desk and our relationship and my career took off like a rocket. We parted for a year or two since he joined a different firm, only to hire me to once more to work with him after he had built a new derivatives department.
Just watching him, being around when he did business and listening changed it all for me. Unfortunately, after a few more years it became sort of a Darth Vader vs. Obi Wan Kenobi relationship (me being Vader) and we parted because I had greater visions (I have no contact anymore - sadly).
I met other people along the way, like Schwager who wrote the Market Wizard books and a very close friend of mine is associated with Bruce Kovner, one of the Wizards. Although those were interesting occasions, everything that guy taught me in my early days was worth 10 times as much. It was mostly about having your heart in what you do - the technical side is a learning aspect that anybody with half a brain can figure out.
I still lost money (on occasions large amounts) after having my first trading accounts set up almost 20 years ago - and I am grateful for the painful experiences, which are better lessons any mentor can teach - that feeling when your gut wrenches after losing $50K of your own money in a day can't be taught....you have to feel it yourself (even with smaller amounts, haha).
The most essential bit of wisdom he gave me was not to follow, but to lead - you can't win anything in life on the back of someone else's confidence.
regards
daytrading
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