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Trading under mentor of a professional trader calibre

  • #1
  • First Post: Edited Aug 24, 2018 12:53am Aug 23, 2018 12:39am | Edited Aug 24, 2018 12:53am
Most new traders should start trading under mentor of a professional trader calibre.


It can save a new trader 10 years of failure and losses , but the major benefit is learning the proper education and training from day 1.It will save the new trader a lot of money in losses and probably make him profitable from day 1. New trader can simply copy profitable trades , of the professional trader,from day 1 and be catapulted to start trading at a professional level.

Have you any say?
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  • #2
  • Aug 23, 2018 12:56am Aug 23, 2018 12:56am
Yea, havent seen a single profitable mentor in my 6 years of trading.
Necessity knows no law except to conquer
  • #3
  • Aug 23, 2018 1:05am Aug 23, 2018 1:05am
Quoting 3ndlessHope
Yea, havent seen a single profitable mentor in my 6 years of trading.
I have spent 20 years , 10 years of I wasted by following all the crap and unlearning the nonsense. If I had a second chance , paying $20,000 to $50,000 in mentoring fees from a professional trader, would have helped a lot, it would have been cheaper than wasting 10 years of my life on charlatan education and discussions.

The only coaches I found to be of great value were trading psychologists.
  • #4
  • Aug 23, 2018 1:08am Aug 23, 2018 1:08am
Sadly the same here too. I get it that success is earned and requires putting the hours in. That is totally necessary. Sadly most that claim to be gurus or mentors offer nothing tangible to actually prove their capability in the long term, or even in the medium.
Also over the years I have found markets have changed. Good traders need to adapt. Mentors that I have seen are often one trick ponies.

FF though if you take the time and trawl through the information here and filter out the bumph and the egos has some good stuff and little gems that you can pick up and use for your own trading style.

We all trade differently and have preferred ways to approach the market and also different time constraints. This makes finding a mentor that has an approach that fits with your style doubly hard.

Good mentors should not necessarily be free either. BUT... finding the genuine ones that are worth $$ though is like looking for an honest politician.
  • #5
  • Aug 23, 2018 3:56am Aug 23, 2018 3:56am
Why don't you work for your forbes billionaire father instead of trying to sell your products here for a little money with no buyer.

Hehe
  • #6
  • Aug 23, 2018 4:03am Aug 23, 2018 4:03am
Quoting loozers
Most new traders should start trading under mentor of a professional trader calibre. It can save a new trader 10 years of failure and losses , but the major benefit is learning the proper education and training from day 1.It will save the new trader a lot of money in losses and probably make him profitable from day 1. New trader can simply copy profitable trades , of the professional trader,from day 1 and be catapulted to start trading at a professional level. Have you any say?
Finding a genuine one is almost impossible.
  • #7
  • Aug 23, 2018 4:27am Aug 23, 2018 4:27am
Quoting genghistar
Why don't you work for your forbes billionaire father instead of trying to sell your products here for a little money with no buyer. Hehe

They pushed this thread to commercial , was not selling anything.
  • #8
  • Aug 23, 2018 4:58am Aug 23, 2018 4:58am
Quoting pooh123
{quote} Finding a genuine one is almost impossible.
Any successful trader can become a billionaire by making 30 pips a week , within a few years.Where are all the billionaires on this site? Who is a forex billionaire?

https://www.forexfactory.com/showthread.php?t=810287

They would be billionaires not teachers.
  • #9
  • Aug 23, 2018 8:54pm Aug 23, 2018 8:54pm
Quoting pooh123
{quote} Finding a genuine one is almost impossible.
Not exactly unless it is absolutely free of charge or its your family members.
Which in both cases highly improbable but not impossible.
OP claimed his father is a Forbes billionaire so I don't understand why he is here in FF instead of helping his super rich father.

Hehe
  • #10
  • Edited 12:53am Aug 24, 2018 12:33am | Edited 12:53am
Quoting genghistar
{quote} Not exactly unless it is absolutely free of charge or its your family members. Which in both cases highly improbable but not impossible. OP claimed his father is a Forbes billionaire so I don't understand why he is here in FF instead of helping his super rich father. Hehe
I can understand you being in the commercial section, but why me?
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  • #11
  • Aug 24, 2018 2:29am Aug 24, 2018 2:29am
Quoting loozers
Most new traders should start trading under mentor of a professional trader calibre. It can save a new trader 10 years of failure and losses , but the major benefit is learning the proper education and training from day 1.It will save the new trader a lot of money in losses and probably make him profitable from day 1. New trader can simply copy profitable trades , of the professional trader,from day 1 and be catapulted to start trading at a professional level. Have you any say? {image}
Dear loozers and thread visitors,

I am sure if given the opportunity, new traders will take the option to be mentored by a professional trader. I am not sure how often that would occur in this industry, since the student of the mentor can potentially then compete with each other. If I put myself in the mentors shoes, I would want some motivation to carryout the mentoring, right? Then thinking further, how the heck would I chose who to mentor? Especially, in Fx, where psychology plays such a big role.. Teaching properly takes ALOT of time, time that would otherwise be used for personal activities or trading related things. So, the question for a good mentor would be, what will it take for them to devote their time, patience, experience, care and kindness, etc... to mentor a novice trader?

Me personally, I have not had the opportunity to get professional mentor-ship, but that is also my fault that I am not actively looking for it. I have chosen to learn what I can on my own or from those kind enough to share their wisdom/ knowledge and slowly piece together the huge jigsaw puzzle that is forex. Everything learned I apply, test and try to understand/ reflect. I take a similar approach in my scientific research and build my knowledge, experience and understanding gradually.

Anyone watched one of the buffets videos where he talks about fondling a HUGE gold cube? From memory he said something about getting 1% income from a lady per year for the rest of her life verses having the cube. He picked the 1% per year income of the lady. (Some would say to take the gold cube worth 100m+ and invest/ trade, but that isn't the point) The point was something like steady compounding growth was better in the long run.

Why not take a similar approach with mentoring? My idea would be for the mentor to receive 2% forex income from their students, per year for something like 10 years. I am not sure if such models exist, but if someone is a good mentor and can have like 5 students per year. That would be 10% of students gains, and as their accounts grow, so would your mentors gains. Alternatively, the bad mentor will get much less as their students would not grow their equity.

Apologies for the long post, hope there is something of value in there

Kind Regards,
Tzamo
"Work hard, put in the effort, and follow your dreams..." -Me
  • #12
  • Aug 24, 2018 2:35am Aug 24, 2018 2:35am
I think anyone would say YES to x% of profit that goes to mentor, at least i would say yes anytime, but finding a mentor who is actually profitable and can teach you how to trade properly is the hardest part. I tried hard, no succes here.
Necessity knows no law except to conquer
  • #13
  • Aug 24, 2018 2:58am Aug 24, 2018 2:58am
I have no intention of mentoring , I would rather write all the good stuff in threads and let the eager learners learn it.

Let us for example a trader was to offer professional signals, he could expect $200 per month or $2400 a year , but most traders would rather eliminate this cost and dump the professional.That is how our brains are designed.

Why bother ,if you are a professional?
  • #14
  • Aug 24, 2018 3:05am Aug 24, 2018 3:05am
Quoting loozers
I have no intention of mentoring , I would rather write all the good stuff in threads and let the eager learners learn it. Let us for example a trader was to offer professional signals, he could expect $200 per month or $2400 a year , but most traders would rather eliminate this cost and dump the professional.That is how our brains are designed. Why bother ,if you are a professional?
Exactly. Thats why 99% of the gurus/system sellers/mentors are scammers. Just look at this forum.
Necessity knows no law except to conquer
  • #15
  • Aug 24, 2018 3:45am Aug 24, 2018 3:45am
Quoting loozers
I have no intention of mentoring , I would rather write all the good stuff in threads and let the eager learners learn it. Let us for example a trader was to offer professional signals, he could expect $200 per month or $2400 a year , but most traders would rather eliminate this cost and dump the professional.That is how our brains are designed. Why bother ,if you are a professional?
Sadly I believe what Loozers has said is likely true. I have spent some years reading from so many sources, trying different ideas, designing EA's (although not coding them as I am not a coder), and subscribing to different forums including FF.

What I have noticed from so many that enter forex as a new direction for them is that;
- they don't often want to read all of the information contained in various threads, but prefer to find a quick fix flitting from one thread/methjod/idea to the next in the hope of finding a simple method that will make them rich. Hence ther are prey to "gurus" that turned out to really just want the annuity payments from their constant rehashing of their tired methods to create new "lessons" and "courses".
- they refuse to believe that 10,000 hours of hard graft makes you a good trader, not a quick process that becomes an instant hole-in-the-wall money dispenser. (ATM)
- Most would not be honest enough to commit to an honest and perpetual % of their income back to their mentor as a genuine thank you
- Often don't realise the value of the information that is shown to them
- Believe that if they could find just one method to trade then they are set for life, forgetting that the markets change, and will continue to do so, not just because of market sentiment due to geopolitics and events, but also because there are other forces at play that are now more AI/algorithmic based under the control of the large financial insitutions that flatten or screw the FOREX markets

Because of all of this, real and genuine mentors are wary, and potential students are wary also.

I too had hoped to find a guru. I even wondered at the idea that I give a percentage back, or even better, give a percentage to a charity of the guru's choice in the hope that the efforts of two people make for a better world, as well as for better education - sort of "paying it forward". If I was able to ever be good enough I would want to do just this. Teach others so that they might genuinely want to gift some of their earnings to others less fortunate that would hugely benefit from the efforts of us.

Orphanages, health programmes, better education for the poor, safe environments for the children, vaccination programmes - that would be a great payment.

Remember, trading FOREX may help to create liquidity and money movement, but it does not offer a service or a product to the world. Giving the gift of education to those that would then offer the gift of charity as a thank you would be in my book a brilliant way of saying thanks.

If I could find a guru such as this, i would love to work together to build such a team of traders, that are genuine and charitable. Is this likely? I guess that is not going to happen, but I live in hope.

Peace to all.
  • #16
  • Aug 24, 2018 4:02am Aug 24, 2018 4:02am
Quoting HarmonicBoy
{quote} . Giving the gift of education to those that would then offer the gift of charity as a thank you would be in my book a brilliant way of saying thanks. If I could find a guru such as this, i would love to work together to build such a team of traders, that are genuine and charitable. Is this likely? I guess that is not going to happen, but I live in hope. Peace to all.

All the education you need is free and available on my threads.

https://www.forexfactory.com/showthread.php?t=805676

If you ever benefit , send some money to children's charities.
  • #17
  • Last Post: Aug 24, 2018 4:43pm Aug 24, 2018 4:43pm
Thank you Loozers. I do so already to kids charities with the profit, and also from personal alternative income, from the systems I currently use - methods I have developed myself and also ideas gained over the years from here and other forums.
We never stop learning though and ideas from threads such as yours and others are very helpful in expanding the FF family knowledge. I thank you for that.

P.S. what I was referring to in my previous post is a little more than just thread reading and applying - its a closer working relationship with someone(s) with a genuine common goal that benefits others as well as self.
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