Trading as a full time career?

[linuxguy]

But they wont spend their valuable time on stones that are not diamond material.

stones...diamonds...Turtles?

 

[linuxguy]

And if someone is valuing other person's time/priority and seeing the value from it, then he/she has to be ready to pay for it. Else it is like asking for valuable stuff and not pay for it.

Exactly...and even agreeing to teach in return of something would be a favor for someone who wants to seek knowledge.

 

[rajatheroyal]

Raja, I disagree slightly with you. Linda bradford raschke offers one such program and she is one of the person in "New market Wizard" book.

Not just the real pro trader,but each of us have to define our priority and value our time. Mentoring takes hell lot of time and effort.. it is not easy. And it is frustrating when a person who is at higher maturity level to come down to beginner's level and handle/explain basic questions..
And this is not for everybody.. We have come across so many teachers/professors in our school/college but I am sure, you would be able to differentiate between the best one and average ones among them. Knowing is not equal to "ability to teach" or "abilily to execute". PhD holder, master teachers, Successful business CEO are 3 different breed of people and each of them need different set of personality.

So if mentor asks for money, then I see valid reasons behind it. And if someone is valuing other person's time/priority and seeing the value from it, then he/she has to be ready to pay for it. Else it is like asking for valuable stuff and not pay for it. At the end of the day, TIME is more valuable then anything else. Otherwise, u keep searching for that Mentor come at no cost to you.. and pay lot more money to market thru our losses.

There are many quick-money makers over there who are selling their services so it is difficult to find out the good one among them.

Personally, I paid good amount of money to join mentorship thru a pro trader and that was just to get my trading plan done (no technical analysis, no strategy).. but I that made lot of difference in my trading, my thought process, my approach to look at market. And that was enough to put me on right track and then I picked up the other pieces on my own. Later when I knew more about him, then I found out that money that I paid him for this, was even smaller then stoploss of his 1 trade. I.e. what seemed to me as big money, was insignificant to him. Hence I agree with Dan completely on it.
With proper mentorship, one can easily become consistently breakeven trader in 6 months time which might be never ending battle without any help.

It is always a challange to find if the person/mentorship program is worth some value or not. But Isn't that true everywhere else ?

Agree, there are exceptional Pro trader cum mentor's who enjoy helping others and ready to give their time for no return.. For them, "helping others" is time wastage but something more then that. But it is difficult to come across them .. One can find them thru personal contacts..

Just sharing my thoughts as this topic carries very different importance for me.
Hope this makes the reader think.

Happy Trading

I was not talking about Linda or any other similar people who share their knowledge in books or webinars.They are ofcourse very talented and good traders.What i took as Mentor ,is to be a person who personally guides u giving his experience and knowledge about markets, what all to learn and what to skip we know from him.Such a person will never ask money for that, he makes lot of money himself in markets.
Personally if u make lot of money in market, and suppose somebody(a noob) asks you to help him trading will u expect money from him? I am sure you wont!!! thats my point.
To my good luck,i have got one such mentor , and i got every bit of knowledge from him and i did not pay a singe penny for that.
Now i am a successful trader only by following his advice.

 

[rajatheroyal]

Exactly...and even agreeing to teach in return of something would be a favor for someone who wants to seek knowledge.

Its sure a favour.But how many people really do that?In this industry 99% snakeoilvendors who are looking for every possile opportunity to cheat the poor ignorant trader.I have seen lots of people who have gone broke, trying different softwares , courses and systems which promise sky high returns.How do u know that a person who agrees to teach you is really a trader himself?
Somebody who is a realtrader makes a lot of money in markets will not be interested in your money.He will only guide you , ultimately you are the one who has to work.

 

[toingpoing]

Hi,being a full time professional trader since last 12 years,i can confidently say that this is one of the best professions to make money.But it takes lot of training,discipline,trading system and money/risk management,to achieve the goal.Remember,90 percent of the traders lose money,so one has to be very perfect in the approach.Happy trading!

 

[DanPickUp]

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