Lol well you really jump to conclusions by saying I know absolutely nothing and my ignorance is glaringly obvious. However I think you are very biased and your view is wrong I’m guessing because of the way you’ve been mentored.
Congratulations at playing squash to a professional level but not one person here needs to be a professional in trading to be profitable. Some of us are happy with making a good amount of money without the need to be at a level of professional. Therefore a paid mentor is not required…ever. So that assumption is glaringly wrong.
Secondly, there are traders on this site who are experienced at trading and profitable and as good or better than mentors you pay for so you dont need to pay. ‘The_Baller’ posts on his 10k challenge and has made over 100% in less time than you. He teaches and helps everyone for free. So not sure what we’re going to do with a nightly webinar on futures and options . Unfortunately you’ve already paid these guys so make sure you get your money’s worth because if you judge their success by % return they are not making enough compared to people here. Sorry.
Have you done sterling suhur’s course? It would be helpful if you could explain how he takes his trades.
Just as I thought you have come back bigger, strong and more determined to make sure I know that what I am saying is sooooo wrong.
Personally I really don’t have time to argue foolishness with fools.
Irrespective of what you think or how you have become a brilliant trader and a self made millionaire I don’t care. All I worry about is making money and no matter how I arrived at the point that I am able to make a living from trading is really none of your business. I chose to enlist the help of a mentor. Who cares because it worked for me.
You say there are traders on this site that are experienced and profitable. Well hooray!! Again I don’t care and I don’t care how they got that way. Does that affect me or is it meant to impress me?? NO! It doesn’t because at the end of the day it’s horses for courses. For what it’s worth I believe that Pipcrawler is one of the smartest contributors to this forum.
My original post to the original post by Susandrid was made to offer an alternative pont of view to her question. Nothing more and nothing less.
Nevertheless I quess it is pointless continuing to debate this subject with a clever ■■■■ wise guy smart arse such as yourself. However anytime you may think that you would like to talk constructively about trading contact me.
With regards to Sterling Suhur you will find him at Day Trading Forex Live. If you want to know about him you can do a google search yourself as I am not your personal assistant.
I will reiterate what I said in my last post. “It is the inexperienced and poorly educated traders that end up donating their hard earnt cash to more experience and well educated traders”. I stand by that comment.
I dont understand why you’ve taken it so personally. You said you only give advice from experience and you mentioned 2 mentors you have used. So I asked whether you can share the way sterling suhur trades. That’s all. You advised it, I’m asking you to elaborate. Now all your saying is buy a course and find out. Not very helpful for beginners on this site. I dont think you’re wrong, Im just saying it’s not the only way. You think you have to go a certain way to reach the end result, all I’m saying is there are multiple ways to the same destination.
This was the start of your very first conversation with me. I take it you can read!!!
So what is that comment about “Taking it personally”?? You made it personal with the very first comment you made and the rest of your comments throughout that post was also viewed by me as personal.
Your analogy is wrong because you think the only way to become profitable is to get a paid mentor. All I’m saying you’re right, you can be profitable but there are other ways. Anyway sorry if I offended, it was not my aim.
I’ve always believed that a mentor would have helped me shave my learning curve time in half, at least, if not more. It took me almost 2 years to become profitable and that was after I inadvertently discovered a methodology that resonated with me. One of those years was spent 24x7 with charts and acquiring new skills. Trading entails developing a new skill and as such information alone is not sufficient to aid you in developing that skill set. I can give a newbie a dump of what I know and he would still not be able to trade profitably. It takes more than information to do that. The BabyPips school and materials available online are merely information. In and off itself, this information, will not develop your trading skills.
A mentor can provide you with insights that come from outside of you. Very often we cannot see what we are doing wrong. For example, I used to set stops based on my trading chart and I used to get stopped out very often. I could not figure out what I was doing wrong. Then one day I was viewing a video on YouTube and the person mentioned that stops will be placed based on the analysis chart. Suddenly, I had my answer. I needed to place stops based on my analysis chart and not my trading/execution chart. That person acted as my mentor. Fortunately, I was able to pick that up when I could have easily overlooked it. If I had a mentor to work with then this error that I kept repeating for a long time would have been brought to my attention at the onset and it would have saved me months of aggravation. There are countless examples like this one that will easily justify working with a mentor.
As I’ve always said about mentorships, you pay with your time or you pay with your money and save yourself a lot of time. You can easily make up the cost of mentorship within a few weeks once you learn to trade profitably.
I think it does newbies a great disservice to say that you should not pay for mentorship. I agree that you should not pay for education alone since education = information and information can be had for free on the internet. But a mentor will help to separate wheat from the chaff. There is so much information on trading out there and 99% is bullshit!
Also, a note to newbies - My suggestion is that you don’t follow Baller’s methodology as a new trader. I’m not saying that it is a bad or wrong methodology. It works for him and it might work for you too but it requires some trading experience to execute correctly. If you try it as a newbie you will likely experience serious drawdowns or wipe out your account within a few weeks.
A mentor will help, 100% agreed but why do you need to pay for one?!?!?! You can get a mentor to help you for free. Just ask and you’ll get opinions on here for free. Dont see why you have to pay money for this. Just weird to think because you pay, you’re getting something different to what someone can tell you for free.
For example if I had asked you why do I keep getting stopped out, then you may have asked where am I putting my stoploss. Something you changed in your trading, I did not pay someone to tell me that, you did. It’s free. The only time you can pay someone is if they are teaching you their individual strategy and who knows if it’s really profitable.
If you tell me how you trade and have a trading plan and is a profitable system then I will be able to trade it profitably. We can try it if you want.
I dont get the point about information is not enough to develop trading skill. Isnt the lack of information the reason most people cant trade?
Why do people expect everything for free? If you were to get a coach to learn a sport or an instrument, would you expect his/her services for free? Unless you are family or friend, I would not mentor or coach you for free. Does the mentor not expend time and energy? Why, when it comes to trading, do people feel entitled to free stuff? A mentor caliber trader is already making money and does not need your money but you, as a newbie trader do require his services. What incentive does the mentor have to mentor you?
Most of the time you don’t know what you don’t know. How will you ask the right questions when you don’t know to ask those questions? Even if you knew what question to ask you would get a dozen different responses on the forum. Everyone is eager to jump in with their thoughts and opinions, whether they know what they are talking about or not. Which response do you pick?
After I learned the key elements of price action analysis, it took me several months before I could use that information to trade profitably. That’s because I had to develop the skill to do so. I also had to unlearn some of the bad habits I had accumulated by taking in disinformation that is very readily available and frequently disseminated. A mentor can also point those things out to you. I’m still shedding some of that as I go along. It takes time for the brain to make the connections required to enable you to recognize the patterns and idiocyncracies of the market.
What I have developed is a methodology, not a mechanical trading plan. You need to be able to conduct price action analysis, understand market structure and recognize the patterns as they develop in the market. Even if I could package up everything I know in a document, you can’t just take what I know and become profitable. It does not work like that. If it did everyone would be a profitable trader overnight. It requires rigor and lots of practice.
As I said, trading is a skill based endeavor, it is not information based. Would you be able to read a book about how to learn a software programming language and then be able to code right after? No. You need the information and thereafter you need to practice coding before you will be able to write a compilable piece of code or one that won’t crash on you or produce erroneous results. Thereafter you will need to learn data structures, algorithms, software design patterns, architectural patterns, and a myriad other things in order to become a proficient coder. It’s the same with learning how to play an instrument. These are skill based activities. Merely ingesting information will do nothing for you.
I’ve shown you how to trade a trending market. Have you implemented any of that? Are you a profitable trader? If so, what is your trading plan and how long did it take you to become profitable? I presume you don’t have a mentor.
@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.
. Unfortunately you’ve already paid these guys so make sure you get your money’s worth because if you judge their success by % return they are not making enough compared to people here. Sorry.
