Having a mentor is not a bad idea, it is like hiring a specialist (in this case, analyst) for your line of business. But, let us remember that every one of us has their own ideals and aspirations. Always remember the poem invictus.
[B]one does not need much study of “Invictus” to realize a definite hypocrisy contained within — at first he thanks the gods for the abilities he ha been given but in the end, places his courage with HIMSELF, which one must recognize as a hubris that grows out of hypocrisy ---- in todays words, he simply BELIEVED his own press ![/B]
Regardless of the spreads, commissions, number of hours that you have practiced on the demo, and your mentor, it all boils down to how committed you are to invest in FOREX.
[B]ah — an echo methinks, and the BASIC truth behind ANY action or activity ![/B]
Knowledge and experience can make you intelligent, but MONEY can make you rich.
[B]Knowledge and experience is what LEADS to making the money that can make you rich — you must START at the beginning of the uphill climb to money, not somewhere in the middle ![/B]
In totality, FOREX is not a game…It is a business, a form of investment. Investments require time and money. I would rather hire a seasoned analyst than my finance professor in college.
[B]ah, the finance professor — full agreement there ! BUT allow me to agree partially with your first statement — it IS a business AND it is a GAME, and the most successful are those who are laughing at how the game was played at the end of each day. I will grant you that this could be construed as a semantics discussion, but i prefer laughing at the shennanigans of the game, then sitting bookish and boring, like some scrooge accountant, and singing while i trade ![/B]
“If you want to make money in FOREX, open two big accounts and hedge…”
[B]far too slow, even in an ECN with a subaccount, and anyway two seperate accounts do NOT give you the benefit of the margin protection that is such an important part of the hedge situation — far better to open ONE MT4 brokerage account, which allows you to hedge any and all things, AND protect margin with two trades of the same currency, that are moving in different directions, although the idea of “hedging” is one of COVERING your nether regions because you simply dont know WHICH way the wind is blowing.
I “hedge” but for very different reasons — i play multi timeframes, and one of those may be going up, while another is going down and in this way i can take advantage of both sides of the movement, cover my margin, and profit as one would with the doublemint twins — double your pleasure and double your fun ![/B]
[B]BTW — although what i teach is serious, dont ever make the mistake of taking ME too seriously — i wont even do that ![/B]
mentor or no mentor…
[B]your ability to write and post sentences that make some sense, are easy to read and not monkey gibberish is due to having had a TEACHER somewhere in the past and not grabbing a bunch of books (which you would not have been able to read) about HOW TO WRITE A LETTER ! All things are better with a teacher, and while one must “solo” sooner or later, its a whole lot easier to do after being “taught” then to try to do it with a book on flying in one hand, and your other hand on the stick ![/B]