Is it necessary to have a mentor?

[AlphaTrader]

Originally Posted by Persiankiwi

[i]The greatest mentors I have ever had, do not know that they were my mentor.

I like it PK i realy do. Very nicely said.

Vandals before you go looking for a mentor, reads a few books, blow out a few demos acc, then read a bit more, a few more demo acc, and then decide if this is for you.

[proinvest55]

Has Anyone Used Rob Booker as a Mentor or Trainer. I have been
looking at his training and signals for awhile, I believe he has a
good reputation from what I have heard, but like to get any opinions
from this Forum if possible.

I am a newbie but have been studying on the Internet for about a
month and a half but looking for a serious mentor.

I like to introduce myself, as my name is Howard Smith and I am
from the USA.

Everyone have a great week.

To Our Success

Howard

[Persiankiwi]

Originally Posted by proinvest55

Has Anyone Used Rob Booker as a Mentor or Trainer. I have been
looking at his training and signals for awhile, I believe he has a
good reputation from what I have heard, but like to get any opinions
from this Forum if possible.

I am a newbie but have been studying on the Internet for about a
month and a half but looking for a serious mentor.

I like to introduce myself, as my name is Howard Smith and I am
from the USA.

Everyone have a great week.

To Our Success

Howard

Hi Howard

Hang on to youir money mate and come have a look atthis site---- join in, learn and to top it all it's all free - all the time:::

http://www.woodiescciclub.com/start.htm

pk

[AlphaTrader]

Hey PK,

How have you been??
SO what happening with you r u live yet????

[radicalmoses]

Hi,

Pretty lively discussion here and interesting one too.

Trading is intense and most people think they can trade and make money after trying out the demo version. And suddenly with real money on the line they choke and things start to spiral downwards from there.

Why mentors? simply becoz he can decrease your learning curve. He can boost your confidence, stop you from making same mistakes. Just like in sports, you need a coach to point out those small mistakes which sometimes you fail to notice.

On your own its possible if you can last 2 years and not wash down your account. I have changed a hundred systems and tried my hand at everything I could get my hand on. My problem as it seems is finding a system to suit my personality. I am getting there.

Just like some people are born athletes, artists or to play music, some are meant to trade. They have tremendous appetite to take risks and think differently than others. They tend to take losses better than others.Their learning curve is the smallest.

So does it mean the rest of us are destined to fail? Maybe not. If it can be done by one, it can be done by others. You have to outlast the learning curve. A mentor can shorten it.

But ultimately you are resonsible for your own success. Many great traders have learnt to trade alone and there are quite a few among us.

[Persiankiwi]

Originally Posted by AlphaTrader

Hey PK,

How have you been??
SO what happening with you r u live yet????

Hi Alpha - long time no news

Yes I am live and presently with a 50% drawdown thanks to losing my guts the minute I went live. Made all the mistakes in the book but with the help of teh CCi indicator and Fibos and news I am gradually recovering albeit very very slowly.... an almost impossible task requiring a 400% profit!!!

pk

[radicalmoses]

Originally Posted by Persiankiwi

Hi Alpha - long time no news

Yes I am live and presently with a 50% drawdown thanks to losing my guts the minute I went live. Made all the mistakes in the book but with the help of teh CCi indicator and Fibos and news I am gradually recovering albeit very very slowly.... an almost impossible task requiring a 400% profit!!!

pk

PK,

Trading is psychologically tough as it is without even having a burden of trying to earn 400% returns? Maybe, that could be affecting the way you trade? Are you able to trade fine and make pips consistently?

I have never washed down any account so far as I have strict MM but it prevents me from making any serious money becoz I try and control my risk at all costs. Maybe that is a key reason why I am getting nowhere?

Would love to hear from you.

[Persiankiwi]

Originally Posted by radicalmoses

PK,

Trading is psychologically tough as it is without even having a burden of trying to earn 400% returns? Maybe, that could be affecting the way you trade? Are you able to trade fine and make pips consistently?

I have never washed down any account so far as I have strict MM but it prevents me from making any serious money becoz I try and control my risk at all costs. Maybe that is a key reason why I am getting nowhere?

Would love to hear from you.

It makes me laugh that you would love to hear from ME! Here I am in a mess and you want advice from ME! LOL

Anyway here goes - money management is very important as you say and without it you will be sucking eggs, but.... unless you have a decent SL, you will not makethe gains you need. I eroded my account badly, as you know. Then I came across a bloke who showed me a great momentum indicator. I read and read and read the system until I think I figured out a way of scalping 5-30 pips depending on news or time of day. It combines scalping news (my favourite) and also a lot of feel for the market. ( I am happy to share this info with you, just send me your email address. It is ALL FREE and nobody will ever ask you for a penny, so dont worry. Personally I would never pay anyone to show me a system unless his name was 'Greenspan'.

Withthis system I have sclaped my way back up from 50% down to 33% down. I can not say that it is the answer to everyones dreams, but it is a great help. I believe that with time and experience I can turn this system around to actually produce something. I also keep a close eye on news and EMA's. News is great for trading. Especially if you jump on just after the news is confirmed. I took 30 pips on Friday that way.

pk