why I DON'T need a forex mentor | Page 2 | Forex Factory

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why I DON'T need a forex mentor

  • #21
  • Aug 11, 2009 11:36pm Aug 11, 2009 11:36pm
Quoting whitegoodman
must have stumbled across a flock of geese
UH .... that would be a gaggle of geese....
Same Whore .... Different Dress
  • #22
  • Aug 11, 2009 11:51pm Aug 11, 2009 11:51pm
Quoting johnedoe
UH .... that would be a gaggle of geese....
Yes.... it couldn't be a skein of geese if he stumbled across them !!
  • #23
  • Aug 11, 2009 11:58pm Aug 11, 2009 11:58pm
Quoting DragonGate
Here is my point of view: if we want to trade forex well, we had better think independently.

Study more, Practise more and Think independently.
How do you know that your thinking is in the correct order? It's easier to lie to yourself than you would initially think before delving into the subject.
I dream, therefore I become.
  • #24
  • Aug 12, 2009 4:20am Aug 12, 2009 4:20am
Quoting Zen
I DON'T need a forex mentor cos I couldn't pay one when I started. And now when I'm on my way, why do I need one?
That's OK, Zen. You are right.
  • #25
  • Aug 12, 2009 4:30am Aug 12, 2009 4:30am
Quoting philmcgrew
Last week he was asking people how to become a full-time trader. This week he's a pro. Must have been an interesting weekend.

You probably have not read my post carefully. Last week, I started a thread "How to trade for or cooperate with a forex hedge
fund?"(http://www.forexfactory.com/t/188399...ge-fund-1.html)
NOT "how to become a full-time trader?".

To be or not to be a fulltime trader is just a decision need to be made, it's unnecessary to ask for your opinion, dude.


Quoting whitegoodman
must have stumbled across a flock of geese
Quoting johnedoe
UH .... that would be a gaggle of geese....
Quoting price
Yes.... it couldn't be a skein of geese if he stumbled across them !!
Quoting Craig
LOL, best comment in one of the stupidest threads I've seen in awhile, this baby is going straight to 100 pages, just watch.

Don't be a smart aleck, please. That's the only advice for you guys.
  • #26
  • Aug 12, 2009 4:31am Aug 12, 2009 4:31am
Quoting philmcgrew
Last week he was asking people how to become a full-time trader. This week he's a pro. Must have been an interesting weekend.
LOL, best comment in one of the stupidest threads I've seen in awhile, this baby is going straight to 100 pages, just watch.
The breaking of a wave cannot explain the whole sea.
  • #27
  • Aug 12, 2009 4:48am Aug 12, 2009 4:48am
Right, first time posting here.

Coaches serve as guides to put the target individual on the right track, it may be true for some people but here's my point of view.

Coaches, like shrinks, listen to your problems and motivate you but they will let you do your thing, despite telling you what to do, they did their job.

I really don't think that trading is like any individual sport, sport coaches force you to work hard while trading mentors don't.

Furthermore, there is a huge load of information available everywhere from where you can find anything that fits you and for free. And learning by yourself and from your own mistakes is the best approach to this job.
  • #28
  • Aug 12, 2009 5:01am Aug 12, 2009 5:01am
Quoting CindyXXXX
Hey if Tiger ofered to teach me golf I'm not gonna say no
Sure, but are you at a stage in your golf where you could benefit from his experience, he's not going to waste his time teaching you which end of a golf club to hit with
  • #29
  • Aug 12, 2009 5:07am Aug 12, 2009 5:07am
Quoting philmcgrew
Last week he was asking people how to become a full-time trader.
I think he was asking how to trade for a fund wasn't he, in order to have access to more capital and gain experience in fund management. For someone planning on going full-time and perhaps managing a fund himself it makes perfect sense to see how the professionals do it first.
  • #30
  • Aug 12, 2009 8:16am Aug 12, 2009 8:16am
Quoting TwoBuckChuck
There's no doubt a mentor can be helpful, if suited to your style of learning.

I cannot argue however, that screen time is the most beneficial.

Surgeons go to university for 9-10 years before they are allowed to butcher people on the table. 9 out of 10 surgeons do butcher their first few patients before obtaining the experience necessary to do the job right.

Sad and scary, but oh so very true.....

Trading is not like accounting where the practical side of accounting can be adequately practised at university before being unleashed...
Forex is more difficult than all the Brain surgeries I have done-lol-and I learned both thru Internet only.
FF = Forex Faggots
  • #31
  • Aug 12, 2009 11:41am Aug 12, 2009 11:41am
Quoting 8fingers
Forex is more difficult than all the Brain surgeries I have done-lol-and I learned both thru Internet only.
Just stay at a Holiday Inn Express.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #32
  • Aug 12, 2009 12:31pm Aug 12, 2009 12:31pm
Quoting LasVahGoose
Just stay at a Holiday Inn Express.
LOL-thats a good one-but Holiday Inn Selects are really the way to go.
FF = Forex Faggots
  • #33
  • Aug 13, 2009 9:33am Aug 13, 2009 9:33am
The goal of trading Forex is to make money. So why would you not use the expertise of a mentor to get you through the learning curve as quickly as possible? And why wouldn't you adopt a proven strategy for being profitable?

Of course, if you're goal in trading Forex is to prove you are smarter than the next guy, or that you can beat the market, or that you have develop your own trading system to prove you really are a trader, then I'll be glad to recommend a good therapist.

My guess is that many of the people who say you have to figure out this market yourself are those who didn't find a real mentor - instead they got burned by one, or many, people who claim they can teach you Forex.

Of course, there is no substitute for "time in front of the charts" to build you trading intuition/understanding. However, that time is much shorter under the tutelage of a real mentor.

The real question is how do you find a mentor. How can you sort through all the nonsense out there and find someone who really does know how to trade, who has a system that works, and persuade them to teach you?
  • #34
  • Aug 13, 2009 10:40am Aug 13, 2009 10:40am
Quoting FxGirl

My guess is that many of the people who say you have to figure out this market yourself are those who didn't find a real mentor - instead they got burned by one, or many, people who claim they can teach you Forex.

Even if you have a great mentor, you still have to figure it out for yourself. You still have to own the thoughts and abilities that make a trader. Just because someone else around you is wise does not mean that it will rub off on you. It's like a having a music teacher - they can show you the chords and technique, but to become a maestro, you have to take those building blocks and master them. In trading, those building blocks could come from a mentor, reading a book, reading an internet forum, or through your own observations. Paying someone to talk to you about trading might speed up the process, but then it might fill your head with a load of rubbish.

Personally, I think a true mentor in the purest form wouldn't necessarily care which way the mentee trades but would tell them to build their own trade plan based on intelligent observations and theories borne out in reality. The mentor would then go over it with them and discuss the components that make it a good plan, give them some pointers, encouragement and let them run with it. Constant hand-holding and dictating what to do doesn't cultivate the independent thinking that I believe is necessary to make it to the top in any field, not just trading.
  • #35
  • Aug 14, 2009 5:33am Aug 14, 2009 5:33am
Quoting FxGirl
The goal of trading Forex is to make money. [..]

Of course, if you're goal in trading Forex is to prove you are smarter than the next guy, or that you can beat the market, or that you have develop your own trading system to prove you really are a trader [..]
We trade Forex for the money, that's obvious.
By making money consistently you prove that you are smart* and you won against the market on the long run.

Talkin' about screentime, I think that mistakes should be experienced in order to know how to avoid them, not just by hearing them from a chatroom or by studying screenshots at seminars.

There are people that can manage by themselves and people that can't do that very well. As long as both experience the "Eureka Moment" and figure out how to trade, then it doesn't really matter. Credit should be given to the source of the information which developed your skills.

To end my statement, I don't advocate against mentors yet I support individual work.
  • #36
  • Aug 14, 2009 6:30am Aug 14, 2009 6:30am
Quoting birdt
Even if you have a great mentor, you still have to figure it out for yourself. You still have to own the thoughts and abilities that make a trader. Just because someone else around you is wise does not mean that it will rub off on you. It's like a having a music teacher - they can show you the chords and technique, but to become a maestro, you have to take those building blocks and master them. In trading, those building blocks could come from a mentor, reading a book, reading an internet forum, or through your own observations. Paying someone to...
Great Post
Time hides Nothing
  • #37
  • Aug 14, 2009 6:33am Aug 14, 2009 6:33am
Quoting pipmutt
Sure, but are you at a stage in your golf where you could benefit from his experience, he's not going to waste his time teaching you which end of a golf club to hit with
For Shizzle my nizzle
Time hides Nothing
  • #38
  • Aug 14, 2009 7:10am Aug 14, 2009 7:10am
Quoting birdt
It's like a having a music teacher - they can show you the chords and technique, but to become a maestro, you have to take those building blocks and master them. .
But you need someone, a mentor or teacher, to show you the chords and techniques. You will NEVER become a maesto by trying to learn it all on your own with no-one to help you
  • #39
  • Aug 14, 2009 7:21am Aug 14, 2009 7:21am
Quoting birdt
In trading, those building blocks could come from a mentor, reading a book, reading an internet forum, or through your own observations. Paying someone to talk to you about trading might speed up the process, but then it might fill your head with a load of rubbish.
.
Or a mentor that is experienced, has a proven successful profitable track record over long time frame and who is word of mouth recommended by other traders, will fill your head with condensed knowledge and profitable trading techniques
  • #40
  • Aug 14, 2009 7:27am Aug 14, 2009 7:27am
Quoting birdt
Personally, I think a true mentor in the purest form wouldn't necessarily care which way the mentee trades but would tell them to build their own trade plan based on intelligent observations and theories borne out in reality. The mentor would then go over it with them and discuss the components that make it a good plan, give them some pointers, encouragement and let them run with it. Constant hand-holding and dictating what to do doesn't cultivate the independent thinking that I believe is necessary to make it to the top in any field, not just trading....
Good post, some great points!
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