Why write this thread?
1, Got PMs about mentoring. It s an answer to them.
2, Reading similar threads with a lot of scammers. Even looks the thread starter wrote it as an advertisement. This will be a clean thread, no ads here.
Who I am?
Read My thread (be calm, it s short), it will show You. Help to those, who want to grow their account http://www.forexfactory.com/showthread.php?t=215528
The topic:
I try to show You trading from the other side. AFTER You made it, with My, and some other traders, I know personally, stories.
My stance:
I read forums many years ago, as a time passer activity. Lately, My trading pals retired, I got bored more, so started My thread. May be I should retire, too, but I like to win, where others lose. (Yes, EGO keeps Me in the game. And You must do something. All day doing nothing is good for 2-3 weeks, but after…I know most of Us want to reach this, but believe Me, it s very disappointingly boring after a time.)
Without Money is hard to be happy, but with money, without social relationships is impossible, too.
My pal experience as mentor:
He took 3 guys, 2 payed quite a sum, the 3. was taken almost free.
He explained, He wanted them to work as a group and help each other on the road, mainly psychologically. He teached them the basics, not withholding anything. Than, showed them how He does it. Took trades, followed together, analised them. Told them, They can do it on this way, or can come up with any own approach, based on the outlined principles. One of them, the free guy, almost at once came up with His approach, the other 2, tried the Mentor ones.
There was a basic rule, in the free guy approach, He frequently violated. It was quite a time to show Him again and again, but at last, after enough pain, He kept that rule, too, and got it. (As My friend told, He did it even better than He, himself, if We just watch the return per year compare to the basic risk.) The other 2 started to ask more Qs about, and made theories and systems and…..
Not did it, just talked about it. When at last did a trade, and was corrected, what was not good in that trade, they started to think again. And again. And after a time, gave it up. Without really doing it. The theory killed them. They wanted a perfect system. This is not that game, as My friend stated.
My experience:
I took only one. Better to say, He took Me. I told Him for months, I am a Trader, I must concentrate on that, not somebody else problems. And anyway, how does He want to compansate for that? I have much more. If He is a failure, as statistically probably He would be, I lost my unpaidable time, He just His money. He kept chasing Me, always wanted to invite Me to anything, sweared to anything, to would never give up…etc.
At last I took Him with the following conditions:
He paid Me 80% ! (yes, 80%) of His capital, and He accept 100% everything I say, and do it accordingly. (It s easy to say yes, but very hard to do. Like a boss behind You. You want to get rid of the boss, and get ’free’, don t You?)
And if I see it s not works, even tomorrow, I keep the fee, and We done it.
He accepted to my big astonishment. Crazy, isn t He?
And He learned it. After a year, He did quite well with his approach, what was a twisted version of My one. (I offered Him to give back to His fee. He felt hurted, and said He want to keep the plan.)
Now, what can You learn from these?
1, You must WANT it, and DO it.
2, There are NO GUARANTEES, just RISK. (Even with a really good Trader, just made 1 from 3. And there were no intellectual problems, at all!)
3, Mentor services, are craps. No Trader, I know, do mentoring as businness. Who knows, does it. Ocassionally take one or two mentoree, who looks determined enough, but We can get much better return on our time and energy, than with any other job.
4. After some Years, very hard to keep up the motivation to trade. If You get a lot of money, (compare to Your earlier financial situation, that is why We start trading, don n t We?) , why continou to work and concentrat hard? (Yes, that s trading, like a job, after You learned it, just bigger bonusses.)
So, lot of trader retire, or start to live expensive, to keep some aim alive. None of the cases probably want to work more.
1, Got PMs about mentoring. It s an answer to them.
2, Reading similar threads with a lot of scammers. Even looks the thread starter wrote it as an advertisement. This will be a clean thread, no ads here.
Who I am?
Read My thread (be calm, it s short), it will show You. Help to those, who want to grow their account http://www.forexfactory.com/showthread.php?t=215528
The topic:
I try to show You trading from the other side. AFTER You made it, with My, and some other traders, I know personally, stories.
My stance:
I read forums many years ago, as a time passer activity. Lately, My trading pals retired, I got bored more, so started My thread. May be I should retire, too, but I like to win, where others lose. (Yes, EGO keeps Me in the game. And You must do something. All day doing nothing is good for 2-3 weeks, but after…I know most of Us want to reach this, but believe Me, it s very disappointingly boring after a time.)
Without Money is hard to be happy, but with money, without social relationships is impossible, too.
My pal experience as mentor:
He took 3 guys, 2 payed quite a sum, the 3. was taken almost free.
He explained, He wanted them to work as a group and help each other on the road, mainly psychologically. He teached them the basics, not withholding anything. Than, showed them how He does it. Took trades, followed together, analised them. Told them, They can do it on this way, or can come up with any own approach, based on the outlined principles. One of them, the free guy, almost at once came up with His approach, the other 2, tried the Mentor ones.
There was a basic rule, in the free guy approach, He frequently violated. It was quite a time to show Him again and again, but at last, after enough pain, He kept that rule, too, and got it. (As My friend told, He did it even better than He, himself, if We just watch the return per year compare to the basic risk.) The other 2 started to ask more Qs about, and made theories and systems and…..
Not did it, just talked about it. When at last did a trade, and was corrected, what was not good in that trade, they started to think again. And again. And after a time, gave it up. Without really doing it. The theory killed them. They wanted a perfect system. This is not that game, as My friend stated.
My experience:
I took only one. Better to say, He took Me. I told Him for months, I am a Trader, I must concentrate on that, not somebody else problems. And anyway, how does He want to compansate for that? I have much more. If He is a failure, as statistically probably He would be, I lost my unpaidable time, He just His money. He kept chasing Me, always wanted to invite Me to anything, sweared to anything, to would never give up…etc.
At last I took Him with the following conditions:
He paid Me 80% ! (yes, 80%) of His capital, and He accept 100% everything I say, and do it accordingly. (It s easy to say yes, but very hard to do. Like a boss behind You. You want to get rid of the boss, and get ’free’, don t You?)
And if I see it s not works, even tomorrow, I keep the fee, and We done it.
He accepted to my big astonishment. Crazy, isn t He?
And He learned it. After a year, He did quite well with his approach, what was a twisted version of My one. (I offered Him to give back to His fee. He felt hurted, and said He want to keep the plan.)
Now, what can You learn from these?
1, You must WANT it, and DO it.
2, There are NO GUARANTEES, just RISK. (Even with a really good Trader, just made 1 from 3. And there were no intellectual problems, at all!)
3, Mentor services, are craps. No Trader, I know, do mentoring as businness. Who knows, does it. Ocassionally take one or two mentoree, who looks determined enough, but We can get much better return on our time and energy, than with any other job.
4. After some Years, very hard to keep up the motivation to trade. If You get a lot of money, (compare to Your earlier financial situation, that is why We start trading, don n t We?) , why continou to work and concentrat hard? (Yes, that s trading, like a job, after You learned it, just bigger bonusses.)
So, lot of trader retire, or start to live expensive, to keep some aim alive. None of the cases probably want to work more.