A mentor , at least to me is someone who is doing for free not for the money they charge. how many times have u heard people talking about mentors they had at their place of business that had to be paid.
[QUOTE=āMichaelHuddleston;720101ā]LOL! Iād wager your opinion is far from educatedā¦ First Jarratt Davis - the selfproclaimed number 2 trader in the world. Uhmā¦ thatās a joke. Secondly, I donāt charge money for training but Iām certain my net worth is many times over the whole lot of them collectivelyā¦ in your list. I show I can trade and I prove I can teach others without panhandling for profits. If you want a Mentor outside of those listed here, myself included, Chris Lori is the only other teacher Iād recomend. ICT[/QUOTE]
Put simply, you are a joke. I have seen newbies following you end up with more misinformation and damaging bad trading habits than if they had followed no one at all. They seem to get less then what they paid for, which is a testament seeing as you charge nothing.
Better get back to trading your myfxbook demo account.
Jarrat Davis has an actual track record, and his trading philosophy actually jives with how the market operates. I reiterate he is the only guru Iāve seen that could be worth a new trader paying for.
So people should fork over the money not knowing if the so called mentor is any good. if someone is buying a car and dealer tells u it only has 5,000 miles on it r u not gonna want to see the odometer statement. How about buying land should it be checked out to make sure it is what its being claimed to be. If not I got some really beautiful water front property he for sale. Its a steal.
I didnt call anyone out by name. I just told the OP to be as careful as u would with any purchase and asking for proof doesnt make me what u claimed.
Says the nobody - with no credibility to offer any opinion - least of all āeducatedā.
I have seen many making amazing results and some are trading full time as a result of their time with me and my teachings. Truth hurtsā¦ I know. Wallow in it babyā¦ wallow in it. 
I stand by my comment on Davisā¦ if he was good heād be trading and not selling his fundamental nonsense. Then there are those who donāt need to. Chappy.
I will let this be my last input on this thread as it is quickly running away from the OPās intent Iām sure.
If you are looking for a balanced Price Action based and Long Term Fundamental perspective Chris Lori provides that. Lori manages funds and you can attribute that to knowing something on itās own merit.
Personally, fundamentals are not needed and I can attest to seeing many folks learning it is not needed to have accurate well timed entry and exitsā¦ all trading styles included.
I have seen Davis stuff first hand it is not worth the money or the time. I have seen the majority of what your retail folks contemplate plunking money down forā¦ unless I mentioned itā¦ you can glean my thoughts on them.
There are Traders in the social media circles that offer education for pay and freeā¦ just ask them to prove they know what they are talking about before you pay. If they are not willing to do that, avoid them. Itās that simple. Anyone that wants to play the role of āMentor or Teacherā will have no problem doing thatā¦ no one worth their salt that is.
[B]Good Luck & Good Trading![/B] :57:
Problem is that learning to trade is the easy bit. You enter a position then exit for a profit or a loss. Pretty god damn simple. However to master it you have to undertake a journey. And that journey is one of self discovery over knowledge. My journey is pretty much documented here at BPās. And from all the knowledge Iāve gain the only thing I care about now is highs and lows. But it wasnāt until I became true to myself that my speculating turned the corner.
Iām agressive, patient and need instant satisfaction making low frequency day trading perfect for me. I overthink and read to much into the charts if given time to study them.
Regardless of what they claim, anyone that declares themself a teacher is full of it. They can offer no knowledge that hasnāt all ready been chewed up, digested, regurgitated and spat out. And they will be blinded by their own techniques regardless if they have proof of their trading or not. So nobody needs a teacher.
But a good business coach will go a long way. Someone whom will work with you and help define you as a speculator. They are a lot harder to find. And from my experience you still have to pay them and when those payments stop rolling in so to the support. But thats the same in any business venture.
So to the OP, itās a long lonely journey. One most of us have to take alone. But you will find friends here. And they/we will help in whatever way we can. Being active in the community IMO is the best way to succeed.
Awesome! Thanks for sharing! And yeah feel free to flick me a PM with your story. Iām starting to revert back to the simple PA method now and so far so good (on a demo account of course).
One question: Do you always stick to daily charts? Have you ever tried weekly? or 4hr?
So just logged in during my work break and all I can say isā¦ this thread escalated quicklyā¦ !
All good points, but then again Iām a newbie trader so I canāt really speculate on whoās right or wrongā¦ Keep it friendly boys and girls! 
[QUOTE=ādavenz;720131ā]So just logged in during my work break and all I can say isā¦ this thread escalated quicklyā¦ ! All good points, but then again Iām a newbie trader so I canāt really speculate on whoās right or wrongā¦ Keep it friendly boys and girls! ;)[/QUOTE]
When in doubt go with the mentor who actually has a verified performance record. That will filter out the muppet gurus you will find lurking about.
http://www.jarrattdavis.com/perfomance/
If you canāt find an audited performance record from a mentor (or even worse if they offer demo account performance as proof), move on as fast as possible.
Hey Dave. I do use the 4hr but only if I know I have a couple of days free to manage them which is rare.
Firstly Iāve got no idea how to make a private messageā¦ maybe itās so obvious that I canāt see it. Maybe you should PM meā¦
Secondly this the the screen shot of the trade on Tuesday at 1306 (GMT +10) even though I ignored my rules this trade has moved somewhat in my direction so far but we will see what eventuates. This trade is a catch 22 because I made a bad trade and it is rewarding me for it which in turn will help reinforce bad trading habits.
Mark.
Well done MLAlford! Good trade!
Iāve reverted back to the good old PA strategy and so far Iām doing alright, just trying to work out my exit strategy. Could you answer a few questions:
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Do you scale in and scale out? e.g add 0.25 lots first, then 0.25 lots at a better price to total 0.50. Alternatively, scaling out would be sell x amount of your position at a certain price, then another x amount at another price and so forth.
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Do you monitor your trades or do you simply set your SL and TP then leave it? i.e āset and forgetā.
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Whatās your definition of drawing S/R? Do you apply it to the highs and lows? Do you draw it through the middle of consolidation? Do you draw a ārangeā rather than straight line? Maybe post a random chart and show where you would draw the S/R lines? I have a feeling this is the sole reason Iām not profitable ā Iām getting my S/R levels wrong!
Hey Dave. Now youāve reverted to probably one of the most basic and also oldest methods of trading I would suggest you donāt trade anything else for a decent period of time.
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I do not scale on entry I generally enter at market then wherever possible I set one take profit for 50% at the nearest relevant S&R usually no less than 1:1.5 R/R based on my stop. Then after the first TP has been hit Iāll move my stop to break even and then Iām not actually risking anything anymore and Iāve taken some profit off the table so it doesnāt really matter what happens after that of course more profit would be good but being stopped out doesnāt cost me anything either.
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I do monitor my trades but because they are mainly on daily TF I donāt actually need to check them very much and I always feel safe in the fact that my SL and TPās are always set so whatever happens happens. I do find myself checking them first thing in the morning after work during the evening and before bed which if probably way too much. Technically it is a set and forget if you only use one TP, but because I use two it needs a small amount of managing.
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S&R is a tricky one everyone seems to have a slightly different idea of what it is. I personally set my S&R at significant swings in the trend I always zoom out far and try to draw my S&R in a position where price has bounced at a certain level several times generally speaking the more bounces the merrier. I also try to keep in the back of my mind the strong psychological levels with 0ās the more 0ās the stronger the level. ie. 1.50000 is going to be stronger than 1.56800 because it has four zeros instead of two.
I had a quick look and found this portion of the NZDJPY Daily. Price found resistance at the 60.380 area(I say area because S&R is always an area not an exact number IMO) you can see where price tried to break up through the green S&R line twice before it actually did then it used the green line as support before breaking/faking through it then moving back up and using it as support again pretty much right through to the end of the chart. I have marked all the points that I think are good examples of price testing S&R with the little red arrows. (I hope you have a decent size/definition screen to view this on)
I urge you to stick to whatever system you decide to use for a good period of time. In this case you will need to give yourself time to fine tune where you place your S&R. By keeping a solid journal with at bare minimum screen shots of your trades and the reasons you took them and then the screen shot of your failed/profitable trades you can teach yourself how to fine tune your system.
If you have any other questions donāt hesitate to ask
Mark
Thanks MLAlford! Youāve helped me out more than you realise. Maybe this is my āah ha!ā momentā¦ going back to basics. I originally started trading this style with mixed results but I once read to write S/R levels based on the past 6 months only. I had tried zooming right out and itās helped out a lot seeing what price has done around that level months previously! Iāve been spotting some very obvious set-ups that I otherwise wouldāve missed from not zooming out.
My demo accounts have been positive all this week from reverting back to the old PA method. Maybe Iām not an oscillator guy as I once thought I wasā¦
One last question (and if anyone else is still reading this thread feel free to throw your 2 cents in): How do you handle psychological stress in moments when profits are diminishing because the pair is pulling back? Lately (when on a live account) Iāve been getting nervous and simply closing my position even though I know I should probably just walk away and let it runā¦
Your welcome Dave, Itās super easy to get caught up in a world of trying to add more and more confusion(indicators) to your charts. glad i could help clear the fog.
As for stress and the psychological element for me it is all about being confident with my system having solid risk management and trading only enough capital to put me in the ādonāt really care if i lose itā basket.
You should post a couple of your trades up here, I would be interested to see them.
I think there is no better teacher in trading except your own experience. There are some traders who can learn from other traders as mentor for you but in reality, itās only few people who could find out mentor for learning about trading. Mostly traders are learning personally because there are many source of knowledge about forex. Beside, mentor will help you to know about forex and effective strategy faster than normally traders so the most important is your own experience.
Just entered a new trade on demo.
AUDNZD is trading in range on the daily so I dropped down to the 1hr chart and entered for a quick trade.
See the image below and hereās the key:
Orange dotted line: S/R on daily chart
Blue dotted line: S/R on 1hr
Yellow upside-down triangle: My entry
Red solid line: Stop loss
Green solid line: Take profit
Thin solid black line: current price level
EMAās: Ignore these as I only use them to identify a trend - theyāre irrelevant for this trade.
If the trade goes in my favor and hits my TP, then there could be a good buy opportunity at the bottom support level (marked up from daily chart) for a longer-term trade.
Hey Dave.
The ATR on all TFās is down right now. Of course, no Pro Traders use ATR, so itās probably better to just ignore it. Also, on the Daily, the price is just below the MidPoint of the range, this range started with itās top on June 30th till current. Eight days ago on 08/24, there was a bounce off .0948 which is coincidentally, or not, the bottom of the range with a spike, from there price has moved in a steady uptrend, so I guess the question is why Short with 7 upward bars, would it not be more logical to look for Long entries??
The Ever Questioning VIPER
Hi Viperā¦ interestingā¦ Iām sure you should really be asking me questions as Iām just learning. Currently my short position is in profit so are you looking at a longer term bull trade?
Hi Dave.
That entry triangle looks strangely familiarā¦ Are you trading with CMC marketsā¦? I had a CFD account with themā¦ If you are then I can almost guarantee they are the reason why you are having such a hard time with your trades. I found when I was using them they had some serious discrepancies with their data for stocks and indicies. Also I found that my stops got hunted and time after time I was stopped out when price wasnāt actually close to my level. I also found that their 400 to 1 leverage was well out of my skill level. Not sure how your experience is with them but i would be interested to know. When I finally asked cmc about why their data was between 20 and 140 pips different in swing highs and lows to the data I was receiving from eSignal(who have no reason to manipulate their data) they referred me to some Terms and Conditions BS.
As for above I took a look at it in the 1hr I think if i had traded this set up i would have set my TP at the next closest S&R to price which is the next trough along from that giant pin bar. At 9am GMT +10 that trade is still moving down looks like that trade is going well good work!.