@Blackduck I’m a pure price action trader. I don’t use indicators, candlestick patterns or chart/harmonic patterns. I use price action patterns and market structure for analysis. I did not have the good fortune of working with a mentor. I adopted several YouTube personalities as mentors.
If I had a real mentor I would be much further ahead than I am now. I learned some basics on price action and subsequently developed my trading methodology on my own. I keep learning and refining continuously.
I to am a price action trader and mainly swing trade using bar charts. I also like to position trade the futures market with both futures contracts and options.
I studied Al Brooks who I believe is one of the best price action traders around. I also like Bob Volman. I am also mentored by David Duty at Common Sense Commodities in regard to position and options trading.
A mentor can teach you so much but it takes disipline to stick to what you have been taught. Nevertheless trading is the best vocation and I love it.
Hahaha lol well you really cracked me up! You dont even have a mentor and here you are advising people to get one. You say you’re still learning so why dont you pay for a mentor if they are so good. How can you advise something if you yourself have not tried it. That doesnt even make sense!! You should take your own advice: information is not enough, you need a practical basis too. Atleast the previous guy was going off his actual experience you just made it up from somewhere.
You yourself said you do not know what to ask. Exactly! How can you advise beginners to pay for a mentor when they dont know what to ask.
Does trading fit their lifestyle? What style fits their personality? Are they a scalper, swing trader, a day trader. What are they? How do they know?! You need to read information, try yourself then when you have an idea of what kind of trader you want to be, you find that mentor. How can you just pay a mentor who might prefer scalping but you realise you need a mentor who does swing trades every few days. First of all paying for a mentor is not required because you dont even know what kind of mentor you need. So I never give that advice.
Secondly, I feel a mentor is what everyone on here is. Giving advice as per their experience and hello it’s free. You’re not getting paid to post are you? I’m sure you’ve posted material that could help a beginner. There are a lot of experienced traders who explain things and point people in the right direction. Everyone expends time and energy writing posts, do we get paid? So why do you have to pay someone? Everyone here gets coached for free right or do you want to start charging because we are not friends or family.
I trade fundamentals and am trading full time profitably. By the time I realised I like trading fundamentals, I was already profitable. I still follow people on youtube and instagram but find with time most of them are just marketers. I like to learn about other methods and I’m still following a few now but havent done enough research to make a decision if they’re real. I did not have a mentor therefore I do not advise it in the first instance. If someone says I want to swing trade and I need a mentor to teach me their strategy then go for it, but ‘I am new to forex i want to pay for a mentor’: you wont hear me say get one. When did you show how to trade a trending market?!
Maybe I’m missing a glaring point, but I have no idea where some of you guys are coming from.
I’ve linked below where I showed how to trade a trending market. You even commented on that thread. LOL. This is exactly why you need a mentor.
And, yes you are most certainly missing the point. You are a fundamental trader and I’m a price action trader. Our philosophies and thinking are diametrically opposes. So, let’s agree to disagree.
You need to just ignore Rickster99 as he is a fool who seems to think he is the only one entitled to an opinion and that just because he, apparently, taught himself to trade that everyone else can do the same. He asserts that his opinion is the only opinion that is right. Pure arrogance.
If you read some of his replies that he sent to me you can see that he is seriously lacking the ability to think in a logical common sense way. He cannot or does not want to acknowledge that there are those who really need a mentor to help them learn to trade. His comments really make me question his claims that he is a successful trader.
Here is how my charts look and I have pointed out some of the things I am looking for when I enter a trade. This is a trade that I unfortunately missed as I was away at the time.
But I use it as an example as it is a great setup. Increase in momentum after it crossed the 20EMA and also broke trend at the same time. This indicates that buyers were keen to buy.
Blackduck, you are right. Rickster’s comprehension is almost nil, as is his reasoning ability. The first line in my very first post in this thread I say the following (quoted below) and, only after I explicitly stated it, did he realize that I did not have a mentor. He comments on my post on how to trade a trend and then asks when I showed how to trade a trend. In Rickster’s case, I too have my doubts that he is a profitable trader. I don’t think even mentorship can help him. He seeks trading information but wouldn’t recognize it if it slapped him in the face.
Is this the strategy you learnt from david duty, sterling suhur or al brooks??
I dont believe I’m always right but I dont think the only way to become profitable is via a paid mentor. Especially if you dont know what way you want to trade. Why learn how to scalp if your lifestyle suits a swing trader. Then you’ve paid a mentor who cant help in swing trading only scalping. Bit of a waste of money isnt it? I think that’s about as simple as I can put it. If you cant understand that then you never will and are too set in your way.
Lol that thread is dead. It was some half assed strategy you were trying to explain. You ended it with practice on demo and see how you get on. Do you trade that strategy? I did not have any conviction in that strategy so never replied after my question. You never showed any follow up trades. Do you use it? Or have you changed it?
Mine or your profitability makes no difference. The point is without ever having a paid mentor how can you advise it. Even now you are learning so why dont you pay for a mentor? How much more simple and reasonable can I be. I’m asking you straight questions and explained how people can get free mentors here to help them. What more do you want? If you have a glaringly obvious point: make it. What do I need to comprehend? I’ve said a paid mentor is good but when you know what you need. If you dont know then get the information for free and then find one.
Considering you don’t need a mentor does it really matter which mentor’s strategy I was using here in this trade.
However as I would consider this a position trade I would say David Duty just to satisfy your curiosity.
I understand the point you make regarding a newbee not knowing what kind of trader he is so how can he choose a mentor to suit.
However this is my two cents worth. No matter what style of trading you pay a mentor to learn it will be money well spent. The reason is that everytime you do a reputable trading course and have the ablity to be mentored during that course you will gain a valuable insite into trading and save many many frustrating hours as well as valuable capital in losing trades as you try to learn. I have heard of many newbees blowing up accounts. This has never happened to me. I have never blown up an account and never will.
I have done several courses and even the worst course taught me somthing that I use in my day to day trading. The other thing to consider is the more educated your are, and the more broard your knowledge is, with mulitple trading methods the better equipped your are to be able to make money in a variety of markets trading a variety of instruments in a variety of timeframes.
I love day trading and swinging those day trades. But I also look for good trades that I can hold for a few days or even a few weeks that will yield a bigger profit. I am happy to trade trends or ranging markets because I know how to manage trades and make money in any type of market. That’s all thanks to being open minded and learning as much as I can about the markets I trade. “AND I CAN THANK THE MENTORS THAT HAVE TAUGHT ME HOW TO TRADE”
Yes you can flounder around asking every Tom Mick and Harry how to trade but realistically how long is it going to take to sought out the good advice from all the garbage that is told by uneducated unprofitable wannabe traders on any number of garbage websites and trading forums.
A good mentor saves you _TIME AND MONEY._And TIME IS MONEY.
I was in that trade with a 3 pip drawdown at entry as the down trend began and I bagged in excess of 300 pips off of it! I told you 2 days in advance what price would do, to the pip. I also knew that the probability of it taking out the low was very high and that’s why I remained in the trade below that low.
Yes, I’m constantly learning and improving. Profitable traders and mentors don’t stop learning and improving when they become profitable. But you don’t need to, correct? Because you know everything. You are omniscient.
You are asking stupid questions which I have attempted to answer, as has Blackduck, but you do not have the mental capacity to think logically. I’m not going to waste my time answering any more of your questions.
Unlike blackduck you have not answered my questions. You keep going off tangent or attacking how much I know. It’s very clever actually, just deflect the questions. However it’s obvious to people who read the posts. I didnt ask how many pips you made, I asked do you trade this strategy? Have you changed it? Perfect example of deflection. Not very transparent are you… I guess you want me to pay you for the effort of typing out an answer. Like that, you have skipped multiple questions.
Heres this for logic. You said a mentor can shave off half the time it took you to trade? Right? Lol. So I asked as you’re still learning and refining why not get a mentor to make sure you shave half the time off now. But nope, you deflected the answer, now you’re talking about me knowing everything. Atleast answer to what you have said . Its logical for me to think if you’re advising a mentor why not use one as youre still perfecting your trading.
Just to clarify, I didn’t say you never need a mentor. I said you dont know what type you need when you start out. I myself am looking for a strategy from technical analysis so I follow and ask people on YouTube/ instagram. Therefore i asked what strategy you’re using as someone may like your setup and think that makes sense I want to learn how to trade like that.
This is a chart of the same EUR on the FX platform as the one that I posted on the Futures Platform. I did this as it gives you the ability to watch this trade and see what happens.
At this stage it looks like a pull back as some bulls take profits and if you notice it is testing the 20 EMA. But using Fibonacci tha pull back is only at the 38.2% and I would expect that perhaps this could pull back a bit further to maybe the 50% before resuming the up trend. If the uptend resumes it could go a measured move that would result in a further 288+ pips.