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I could spend a considerable amount of time explaining why, IMO, the above is not easily feasible but I have a feeling that it would not be good advice for you.
Plus, who knows, you may be right. You can always start a mentoring thread as you suggested. How about adding a framework where mentees wanting to make their case do so in a structured manner.
I think this is the thing about mentoring, as well as taking advice and even learning from someone else, including from all these posts in this thread: trading is very individual, and so is learning it.
I have tried to follow other peoples' advice or methods, and had very limited success. When I learned something from them, it turned out that I ended up doing something that was very different from the original. I believe this is because, as many have said, it really is very individual and you're just not going to do "the original."
The originator of the Turtles system, the extremely successful trader Richard Dennis, famously said that he could publish his exact method on the pages of the Wall Street Journal with no concern about others copying it, because no one would follow it as he did. On the other hand, he also coined the term "turtles" because he thought that anyone could be taught how to trade profitably, and that he could grow traders "like turtles." I think these two viewpoints are slightly in conflict.
When he chose a number of would-be traders to train, as said, even with Dennis bankrolling them and giving them the entire system, and even with it being a mechanical, no-judgment system, the turtles still got different results.
This variance was explained by saying that "some didn't really follow the system," which I am sure is true, and is also the point.
No one follows another person's system. They may fail or they may succeed, but either way they will have changed the system to conform to their own understanding and individual perspective.
I know it is hard but you should never give up.
Keep going.
If its hard losing money , turn to paper trading for a while.
I have been trading since I was 21 and after 9 years (30 now) I'm barely making a living .
I don't care. I am determined to eventually make money no matter what it takes.
I have spent countless hours , I have seen pretty much everyone in the industry , joined seminars , went through classes , tried every strategy out there , won a lot of money , lost a lot of money , blew out accounts .
Everyone is different and what might works for me or for someone else might be total garbage to you ,
but the one thing we all have in common is how our brains are wired to accept new information .
Our brains are designed to only being able to handle a few tasks at a time .
You need to keep it simple.
Avoid distractions at any cost. Turn off the tv.
Focus on your strategy totally and write down every single trade.
I realized after all these years that the simpler I kept it and the less distractions I have the better I do .
Even this site right now is a distraction (kidding ).
but in all seriousness , you have to turn everything off , tv , twitter , other traders , trust yourself , work your strategy like a fucking maniac , and don't be like this doesn't work and jumping onto the next big thing and you will be fine.
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
First thing first,
Yep, prefer Miami, or Orlando, FL.
Sorry but you are not qualify--don't think you are a newbie!
You can look me up for my journal thread that already posted dealing with the above questions.
Long story short, my specialty is "Swing" trades on both sides using 1440M, 240M and 60M charts, especially for Rollover process and during Financial crisis.
iTS
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
With all due respect you are a beginer so i very much doubt that you are consistently profitable and not eligible to give advice on how long it takes.
In fact the 10,000 hours needs to be at least double or triple to even stand a chance of making it. it is very very very difficult.
Then perhaps you are one of the best qualified to respond to all the people posting opinions about the topic of mentoring who have never had hands on mentoring like you,
i clearly have an opinion also but have not read about many people who have not succeeded when mentored one on one, as opposed to the commonly used Turtle method when it was provided as a recipe or instruction, the nuances that are required to bake the cake exactly like the originator will add so much more than can be written, that even he is unaware of unless in the process of making or baking the product.
Safe trading Angelo
"If you believe you CAN, OR believe you CAN'T, you're RIGHT!"
I am more qualified to share that i am also in the same boat. In my three year journey, i've lost money for the first two years, and in the third year i've applied brakes to the loosing ride by understanding myself and analyzing the mistakes i am been making.
Some of the things that came to light were:
I have fear of missing out
I used to have a gambler's attitude. I generally used to go all in after winning small profits.
I never used to understand the markets and ask the question WHY the market moves
I started to shift my entire focus on trading and making losses everyday. I needed to take a break and should have focused on other areas.
I also had lost hope, but my newly born baby girl has been the source of inspiration and she is teaching me everyday that not to give up. It's ok to fall, but the most important thing is to rise again.
One of the first thing i started doing is i took a break for 6 weeks. Took my family out and focused more on them and other areas of life like (working on the business idea, learning to cook food, washing/helping for home chores).
In this process, i started to understand that markets are designed the way that you would loose money. It's all part of the game.
I started to learn volume profile, market profile, support, resistance identification and currently doing SIM trades.
I also developed a 5 year plan which is more like a map to achieve my financial freedom.
It easily guides me that if i make a mistake or loss, where i have to start again.
I would request you to set some guidelines first.
Next is don't make trading as the only thing in your life. Go out and do voluntary work, help others, socialize, read, drink water more (no alcohol), eat right, go for a vacation to Bali or Vietnam or Thailand or India (2 weeks is pretty good to explore a country. I can help you if you plan for India,)
Lastly, we are all playing single player game in life. So ensure not to loose hope, and keep on getting up.