My two bits on this topic –
Firstly, I definitely agree if one has a mentor in this field (or any other), the learning period tends to be shorter and one reaches a certain level of consistency quicker than one would otherwise have (ofcourse, there are self-learners who do it in short time as well but I’m talking of the norm here!! J ).
From my experience as a trader, I think mentoring is just more than helping the other person understand TA, provide some basic knowledge of capital markets and some gyan on money and risk management etc. There are various ways to learn this – from a mentor, from books or online tutorials, workshops/seminars etc. Beyond that, not much someone else could do for you, can they ??
Seriously, can someone really place an Buy/SELL order for you ?? Not so sure if that’ll work in the long run.
To me, Trading is like Individual sport. Can discuss all the finer nitty-gritty with a Coach/Mentor but once you are on the field - you are on your own doing things that are required to play the game. You identify a trade, spot an entry and punch in the SL and then, wait in anticipation of the next move on the stock. Some go against you and some go FOR you. The more you and I do things, you get better at it.
I look at this way. Yes, it’s a tough game but then that’s what separates the Men from the Boys – as someone recently said in this forum.
Cheers,
Girish
From: Technical-Investor@
Sent: 24-Nov-2009 20:14
To: Technical-Investor@
Subject: Re: [Technical-Investor
Hello,
Mentorship / One to one coaching is a interesting idea whose time I feel is ripe since there is increased awareness towards getting educated before jumping into the world of trading / investment. I personally have many a time felt that if I was associated with X person initially when I came into the market, I feel that I would have been a lot different from what I am now. What I am now is more of trial and error methodology which takes a very huge toll in terms of time, money and mental exhaustion.
Unfortunately, I have also seen that potential demand just does not equalize with conversion. For instance, A couple of months ago, I thought of organizing a One day Seminar for Amibroker since I receive a lot of personal requests with regard to coding and felt that a seminar would be very helpful to a lot of persons who wanted to use or used AB but were not conversant with its features and applications. Despite the charge being as low as 1K, only 3 members confirmed. I did not do the course since it would not have even covered my costs, forget any profits.
Compared to other fields where teaching is easy, teaching in the markets is very tough since markets being very dynamic everyone can be right and everyone can be wrong based upon the way others see and perceive. That's not to say there are no mentors available, its just that good traders are rarely interested in mentoring since it can affect their own focus. Also, teaching requires a knack, which I feel that many good traders just do not carry and hence many traders even if they really want to help are handicapped to that extent.
Currently in India, we do not have a formal sort of coaching in Investment / Trading methodology and this gap is used by many unscrupulous persons to scam persons with real interest while feeding them what is essentially bullshit ( in terms of quality of subjects taught). In my own experience, I feel that there is a wide gap between theory and practice. One can read any number of books, web sites, but when faced with real situations, its the experience that counts. Hence, if any one were to claim to teach, ask them as to whether they will also be with them through their initial trading sessions since its never easy to put theory into practice while the same can be done with very little effort in hind sight.
I know above rant does not answer your question, but I feel that you could start off with reading and understanding the markets and then slowly take the plunge.
Cheers
Prashanth
----- Original Message -----
From: Ramesh Ramachandra
Sent: Tuesday, November 24, 2009 18:45 PM
Subject: [Technical-Investor
] One on One trading coach / mentor
Dear Seniors,
I have been in this group for some time now and have benefitted immensely from each of our selflessly contributing members.
I am a newbie, based out of bangalore, could any seniors be willing to guide us newbies and be willing to stick out and take on mentorship roles / one on one coaching under your stewardship?
suggestions / critique / discussions / formats / welcome.
Many thanks,
Sincerely,
Ramesh
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