I had a humbling experience today. On my daily jogs I came across some people getting taught how to properly do paddle boarding. I watched as some folks could barely balance themselves and would fall into the water. The instructor was this short but commanding young woman who was just relentless in helping her students.
Trader education continues to be a very contentious topic among everybody. To some they think it's a complete waste of time and money and to others, it's paramount. I tend to think it is truly the latter. It's not because I'm an educator but it's due to the fact I was once a new trader and I needed a wise mentor to show me the ropes.
Here's the thing: if your friend who is an experienced trader tries to coach you, they may give you the wrong tips or will not be able to properly analyze your situation through an experienced trader's eyes. It is different being guided by a professional as opposed to a seasoned trader who may or may not have had training themselves.
The second most important concept I instill to my students is the mindset. I take students through mental exercises to help them understand the rigors of trading and to better cope with the stress and the bombardment of information.
Last but not the least, the recommendation of good habits can only come from the wisdom that comes with teaching countless others as well as with time itself. Having traded for nearly 16 years now and coached more than 50 traders, it really can help in analyzing common mistakes made by new traders and the like.
I know that it always boils down to cost. Some newbies don't want to spend thousands of dollars on trader education. Some would rather put that to trying their hand in trading. I always retort with the same warning: I have seen so many would-be students deciding to trade before taking a class only to lose $5,000, $10,000 or even more of their hard earned cash because they did not want to fork over $5000 for a class. Well, put that into perspective for a minute. You lost $5,000 when you could've spent $5,000 to learn how to trade complete with the guidance of a pro. Rather, you lost $5,000 to the markets where some prick somewhere would most likely spend that on hookers and blow. Not only have you lost that money, you've not learned anything and you most likely will punish yourself for being callous.
It's a story I know all too well. I feel like I write these posts every month to remind people not to fall into that trap. Most people think reading books and blogs are enough to learn this game only to find out the hard way it isn't.
Save yourself some money and time, get a mentor before you start real trading.
WHAT: FUTURES and FOREX Class
WHEN: August 8th @ 6PM Pacific
FREQUENCY: Mon / Tues / Thursdays 1 Hour Each
WHO: Corey and 5 Students
SPOTS: 1 LEFT
INCLUSIONS: Notes / Recordings / 1-Year Trader Subscription
Can't Make It? Any overages will have to request Mike or Gavin (if you can afford the Gman)
The first phase will be Futures then progresses into Forex. Class notes, recordings and the works will be provided. If you only want to take Futures or Forex, you can be scheduled in at the appropriate entry times. Futures class will take approx 2-3 weeks and Forex about the same. Speed is dependent on group pace.
If you prefer one-on-one please send us a message and we'll see if Mike or Gavin are available.
Total Cost: $7,000 OR Individually @ $4000.
First to pay gets the remaining spot.
CONTACT US to RESERVE YOUR SPOT
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Traders from Equity Sense will be writing on this blog on positions and other market-related things.