Mentors?

[blaze87]

hey guys, im been actively reading on books primarily on fundamantal analysis with a little bit on technical analysis.im 21 this year and a keen believer of owning the business.

i feel that it's time to step up, and figure that i should try and see anyone will be willing to mentor me on shares.

p.s- i do not rate recommendations of those experts from those brokages highly, hence i prefer to do my own research even thou it might be long and tedious. i only look at recommendations after i finished my rather simple analysis and see if i missed anything important. i do not use any complex formula to come up with a instrintic value but something much easier

 

[rowes]

Hi blaze87,

the topic of mentors was brought up just a little while ago and there is some great advice on there. here's the link for the thread.

https://www.aussiestockforums.com/forums/showthread.php?t=8607

Hope this helps.

 

[Russ]

I am desperately in search of a mentor. I am trying to master day trading without much success.I have put alot of time into self education and paper trade well but fall short when real money comes into it. I want to stay a trader but I feel I need the guidance of someone that's experienced. Brokers only seem to want to know you when you have a fat account. So if anyone is looking for a car crash project to restore, please contact me

 

[nomore4s]

Russ,

You will find a few very good daytraders on in the forums which will be able to offer you advice and guidence. I would suggest reading some of the threads on/about daytrading and start asking questions to identify where you are going wrong.

If you are paper trading ok but when going live struggle maybe it is to do with making poorer decisions when real money is at stake? Having a mentor may help but it also might not change too much if you can't stick to your plan/system when trading with real money.

You need to have a strong robust trading sytem with good objective (as compared to subjective) trading set ups & patterns to trade with, which will help remove some of the emotion envolved with trading.

Also keep in mind daytrading isn't for everyone and while most traders aspire to daytrading it is probably the hardest of all trading - over 90% of people fail at it. So maybe it isn't for you? ATM it certainly isn't for me.
Most successful traders have failed and blown up accounts at some stage so there is hope for all of us.

There are plenty of other ways to make money in the markets without daytrading. Just some food for thought.

Good luck.

 

[Russ]

Thanks for the comment. I have too many set up's in my head I think, the result of a lot of reading. Went back to basics today ie moving averages, momentum ,trend. i also stopped trying to pick exact turning points, instead, picking up points in between. Little bites of the cheese, & not going for the whole dairy. Finished the day in the black which was nice. Thanks again
Cheers
Russ