Trading mentor. Necessary or not?

[1time 10]

Does anyone have any experience working with a trading mentor? Is it recommended that I get one? Would love to hear your advice. Thanks!

[Soultrader 12]

Does anyone have any experience working with a trading mentor? Is it recommended that I get one? Would love to hear your advice. Thanks!

 

Necessary? Not really. Recommended? Most definetely.

 

Finding the right mentor is very important as well. In my trading career I have had a total of 2 mentors. You take what fits your style, tweak it, then create your own trading style. My first mentor relied heavily on moving averages, fibs, and identifying key price levels. My second mentor was a pure tape reader in combination with market internals.

 

I have combined both styles to form my own. This is something you can not do while learning on your own. Depending on where you live it may be hard to find a mentor. There are plenty of subscription based chat rooms. I dont know the quality of them but I am sure if you take the free trial offers you may find a mentor you like. Also if you ever have a chance, work for a professional trader for free. Eventually he may even back you up on your initial stake.

[1time 10]

Thank you. Do you have any recommendations for online trading courses? Most of them cost thousands of dollars which is beyond my current budget. Is there any mentoring program that is within a reasonable price range?

[ES 10]

I'de say invest the money to get a mentor. As long as you learn from him it's money well spent. 1time, what markets are you trading? Different mentors specialize in different products.

[Marlon 10]

Mentorships, seminars, and classes are too pricey for me. Any other alternatives ?

[luke24.5 10]

Mentorships, seminars, and classes are too pricey for me. Any other alternatives ?

 

You will pay a price to learn trading. It's just a matter of who you pay it too.

 

The most expensive way is to trade real money without a proven system. By proven, I mean one that you have proven you can work on a simulator.

 

Still, there a lot of wolves in sheep's clothin out there.

 

I study in Bill Duryea's room when I'm able. Not the greatest communicator but an excellent ES trader who virtually never has a losing day. A full-time studen could probably learn enough in 6 months to a year to trade successfully.

 

Cisco Futures' home study course would be great if you have a FT profession.

[Bull run 10]

Could you list the link to Bill Duryea's room? I am not familiar with him but would love to check it out. Thank you

[Soultrader 12]

I have spent some time in Christine Grace's trading room in the past. She used to hold a trading channel at the Market Vu Show. She has now moved and holds a trading room with Alex Benjamin who is well known for his expertise in market profile. Her website can be found here: www.bestrades.net.

[luke24.5 10]

Could you list the link to Bill Duryea's room? I am not familiar with him but would love to check it out. Thank you

 

http://www.instituteofauctionmarkettheory.com

 

Hope this helps.

[Bull run 10]

Thank you very much. I will definitely sign up for the free trial and see what it is like.

[extradosage 10]

Thank you very much. I will definitely sign up for the free trial and see what it is like.

 

I have also participated in several trading rooms myself. You get to learn different styles and trading methods since every trader trades differently. Incorporate what suits you and tweak it to create your style of trading. Good luck.

[Wallstreet 10]

I would suggest to go for a trading mentor as someone has suggested and it is important that the mentor should be good as Luke24.5 has mentioned.A right mentor is a storehouse of information and can guide about the techniques much better than the courses.

Though If feel the drawback would be that a mentor would be a proficeint in select style.However on second thoughts it is better to Jack of one trade than be master of none.

[ezduzzit 10]

Having a mentor, assuming he/she is a good one, can be a very good thing. However, first I strongly suggest you sit down and decide exactly what it is you hope to gain or learn from a mentor. Then have a chat with the few potential mentors you have in mind to see if you get a good feeling about them and they seem amenable to what assisting you in that regard.

 

However, please recognize that you are different than the mentor you will be learning from. Others here have alluded to that by means of indicating you need to glean what you can from them and then personalize it for your own self so that the techniques and methods match up with your own style and personal psychology. Don't try to emulate anyone too closely, or you will find trading a very frustrating endeavor. As one earlier posted made clear, you absolutely will pay for your learning experience one way or the other. Try to find someone with whom you feel comfortable and whom you respect for their abilities. There are lots and lots of self-professed gurus out there but very few who can truly trade in a consistently profitable manner and also impart those skills to others. Good luck with your endeavor.

 

Happy Trading

[1time 10]

Thank you for all your comments and advices. I find it of great help

 

I have started taking several free trials to find out various trading methods from different mentors. I will try to find whats makes me comfortable and develop my own trading style.

[Trade Up 10]

While a Mentor is not essential, I found it very useful when I was in the Stockbroking Industry in the UK.

 

In my 14 years in the industry I had two great Mentors who I learnt so much from. The best Mentors tend to be very reclusive, until you get to know them. Once you earn their trust and respect, you can learn some amazing things.

 

Each Mentor has different ideas and strategies, and I found both of my Mentors very very interesting to listen to, and great to bounce ideas off.

[Jasonn 10]

http://www.traderslaboratory.com/forums/f30/searching-trading-mentor-s-7179.html