Is it necessary to have a mentor?

[zynetic]

Originally Posted by Persiankiwi

in Forex - we are all foreigners.

Out of interest - where do you live?

I live in a little village off the coast of Europe called London, you might have heard of it; it was once famous for a plague and then a big fire, but sadly 99% of the inhabitants have also never heard of Forex. Indeed if you walk up to a lady and ask her what she thinks about FOREX, you are more likley to receive a slap in the face and a prosecution for indecent behaviour rather than an answer to your question! However with the aid of the internet I have located signs of intelligent life elsewhere on this strange planet.

My advice to you is that having a mentor is not necessarily like having a girlfriend in secondary school. you dont have to ask - just follow the threads on this site and you will eventually see some reasoned comments. Personally i have seen more logic bantered around on this site than from some so called mentors who charge thousands of dollars for a few cd roms.

There are a few mentors currently on this site i can refer you to if you want.

pk

Wow!..That's a good example........ thanks a lot.

I'm living in a small province in Thailand and I'm still looking for a mentor.
But before getting anyone to give me advice. I'll need to complete my basic study first. I would be very appreciate if you drop by your e-mail to mine:

zynetic@gmail.com

SO next time when I need a thougthful advice.....I can ask you through your e-mail (I hope you don't mine)

Thanks a lot!!!!
happy trading

[Persiankiwi]

Originally Posted by zynetic

Wow!..That's a good example........ thanks a lot.

I'm living in a small province in Thailand and I'm still looking for a mentor.
But before getting anyone to give me advice. I'll need to complete my basic study first. I would be very appreciate if you drop by your e-mail to mine:

zynetic@gmail.com

SO next time when I need a thougthful advice.....I can ask you through your e-mail (I hope you don't mine)

Thanks a lot!!!!
happy trading

Zynetic my friend. I shall certainly email you my details and also i will send you a few interesting articles i have gathered from various sites. but what i strongly suggest you do is follow the link below to a thread on this site which has caused a huge amount of interest recently and which i am following very carefully. It is a very fascinating system and I have been demo trading it for a short time, with a respectable success rate. get involved and in particular read the first post from Hans123, which sets out the whole system. ignore all the posts about computer programming, it's all nonsense - you will do fine with a calculator and a scrap of paper to do your calculations:

http://www.strategybuilderfx.com/for...39&page=1&pp=8

when i have made my first million on Forex i plan to holiday in Thailand, big time.... so maybe we meet - LOL

pk

[AlphaTrader]

Originally Posted by Persiankiwi

when i have made my first million on Forex i plan to holiday in Thailand, big time.... so maybe we meet - LOL

pk

Its good to be optimistic, good luck. Why Thailand?, i have never been so I dont know.

[zynetic]

Originally Posted by AlphaTrader

Its good to be optimistic, good luck. Why Thailand?, i have never been so I dont know.

Why Thailand?.......Hmmm......let's spend your holiday here once and you'll wish to come back.
There're a wide range of activities and cultural history within the country.
From modern living to conservative beauty. I used to work as a tour guide when I was at my university.
Great shopping, Premium food,affordable accomodation, Beautiful tourist spot, Friendly people........What more do you want!!!!


and........I think it's one of the country that you can trade FOREX with a low spending cost.

[AlphaTrader]

Originally Posted by zynetic

Why Thailand?.......Hmmm......let's spend your holiday here once and you'll wish to come back.
There're a wide range of activities and cultural history within the country.
From modern living to conservative beauty. I used to work as a tour guide when I was at my university.
Great shopping, Premium food,affordable accomodation, Beautiful tourist spot, Friendly people........What more do you want!!!!


and........I think it's one of the country that you can trade FOREX with a low spending cost.

Yeah i know i was just wondering why go to Thailand when he makes a million? Surely he could go somewhere like the bahamas then. And while there set him self up an IBC and an offshore bank acc . Just my thoughts. Isle of Man is prefered by the brits but bahamas has better banks. Or you can just set up the IBC there and use a swiss bank. Cos Half of that million will belong to the goverment and we dont want that do we. So plan your outs my friend.


I dont doubt that thailand is a beutifull country. And i will go there one day but am more of a winter person, snowboarding is my thing.

[Persiankiwi]

Originally Posted by AlphaTrader

Its good to be optimistic, good luck. Why Thailand?, i have never been so I dont know.

a couple of points:

1. Thailand has always appealed to me because many years ago I used to work in a company which sold new Mercedes cars to Thailand and I dealt with a lot of Thai's. I enjoyed their food and culture and what I learnt of thier country seemed nice. I imagine it's a really great place to be with a Million Bucks in your bank account......

2 On the issue of bank accounts and governements - I am already trading off-shore as far as any tax authority is concerned and I have set up my affairs very strictly in that manner so as to ensure that any profit is not shared with ANY government in any way. Its my effort my friend and I aint paying no chancellor a share of it. Capitalist to the core---. I strongly suggest that you also address this question in Aus. Trade with an American institution, through an offshore limited company and channel all your dough through them. as long as you do not spend the dough in Aus, the gov cant's touch it - plus there are also ways around that too so don'y worry.

pk

p.s If I do get to Thailand, I will also pop over to your end of the globe and spend a few months walkabout on the Golden Coast - so don't feel left out. After all, all I need is a laptop and a wireless connection, and I'm in the office! Plus, I have family to see in NZ!

[AlphaTrader]

Originally Posted by Persiankiwi

2 On the issue of bank accounts and governements - I am already trading off-shore as far as any tax authority is concerned and I have set up my affairs very strictly in that manner so as to ensure that any profit is not shared with ANY government in any way. Its my effort my friend and I aint paying no chancellor a share of it. Capitalist to the core---. I strongly suggest that you also address this question in Aus. Trade with an American institution, through an offshore limited company and channel all your dough through them. as long as you do not spend the dough in Aus, the gov cant's touch it - plus there are also ways around that too so don'y worry.

Already taken care of my friend, offsore is the way to go. Have fun in thailand and i dont feel left out just wanted to know why thailand.

Originally Posted by Persiankiwi

So far I am not doing too well, but frankly I have not been giving it the attention it needs. Because it's demo trading I have a tendency to take risks that i would not take in real life and i also have the illness of letting losses run (with considerable prayer), and cutting profits short.

Also I though that you where only demo trading as stated in this thread beforehand so which one is it? You dont need to go offshore to demo trade
Well there it is.
All the best.

[Persiankiwi]

Originally Posted by AlphaTrader

Also I though that you where only demo trading as stated in this thread beforehand so which one is it? You dont need to go offshore to demo trade
Well there it is.
All the best.

Yes - I am demo trading, at present. But after the Christmas Hols I propose to go live. Have not formally chosen a broker yet, but have been referred to www.whselfinvest.com by some online traders who seem to know what they are doing. This company covers Europe.

I am testing a system right now and the results seem ok, albeit up days/down days syndrome. On the whole, as things stand for December, I am wavering around the breakeven point, which is not bad considering I took some heavy losses on a few trades.

My system takes me into the market on EUR/USD and GBP/USD at 0900GMT and I am out everyday at the latest by 0000GMT. A condtion of the system is that it is traded DAILY, irrespective of market state. The overall system is looked at, not selective trades. I would be happy to share it with you, if you are interested.

On a more personal note - I suppose you have gleaming sunshine and lovely weather down there in the S Pacific right now. Well, we have the usual. Rain, damp and misery. Not to mention a big fire pouring smog and soot all over everything!

pk