ScottBogatin

New Followers Part 3

Education
TVC:USOIL   CFDs on WTI Crude Oil
4.5.20 in the past week or so I've been getting all kinds of questions about seeking out videos, mentors, other individuals who post on trading view to learn more about the market. I have spent many years reading about different aspects of the market, buying programs and courses, and most importantly, I had no problems hiring a mentor, somebody that I could interact with in a meaningful way because I saw this is the most efficient way to move forward. Here's my bottom line conclusion: I am guessing that most of very good traders didn't develop their style without help. They had mentors and they have a lot of help most likely if there successful traders. If you're sitting at your computer and you're trying to learn how to trade strictly by following post on trading view, you're probably not going to be a successful trader or as successful as your abilities can carry you. If you find the right mentor, and you maintain enthusiasm from the start as long as you can even if it's only for a handful of sessions, but you feel you better do it right away as hard as it is as if your mentor is going to disappear, that's the kind of energy and action you need to take to get bang for your money and your time. You have to start running, not walking. One other very important aspect to what you should expect from a mentor: most likely your mentor is not going to show you every aspect to the trading you will end up doing, but a great mentor will give you two or three things that will save you years of searching, and they will be things you never would have guessed would have a profound impact on you. Yet you will know what they are when it happens. Some of them are obvious, but that mentor save you years of time. Your mentor may not know what it was here she said, but you will know. That has certainly been my experience. Some mentors, not just because of their experience, but because of their personalities will trade differently than you and there will never be a reconciliation for you because it runs counter to your personality. I gave an example from my experience with Larry Pesavento regarding a trade with a 1:1 Risk:Reward. I needed more price action to reconcile some of my needs... which is sometimes fundamental to your personality.... if you need something or not happy with trading, you gotta find the need and use it. I mentioned Al Brooks: I personally had a very difficult time with that course. Honestly it made me angry at times... and personally, my response was so toxic, it bothered me so much that I would respond with that kind of negativity, I wondered if there's something I'm rejecting that is much more important than I think for me to act this way. In all honesty, I wondered if I was making a big mistake if I didn't give it more time. in all candor I can say that I had to accept that there were some things that I just didn't like and that was okay, but there were other ideas that he had that turned out helping me develop my own sense of price action and those little pieces of insight that he had fueled me to expand his ideas in a way that was compatible for my personality. it took me well over three years with a lot of effort to fit price action into my evaluation of markets and it ended up being one of my biggest attributes and he gave me abilities to judge markets very effectively. It took a lot of screen time. At the end I mentioned Andrew Menaker , and while I only met with him for 10 sessions, and after a surprisingly contentious interaction when it came time to renew for another 10 sessions, I told him that I would sign up for 10 sessions but I wanted him to respond to something that I had done from recommendations from one of his courses... something that had to do with recording your dreams to get a better insight with regard to how you handle stress and how this can affect your trading... and I had four dreams that I'd typed out for him that I wanted a response to and hadn't gotten a response, but it if we would include that on the next sessions I would sign up right away. He got very angry with me and I was very surprised at this and I reacted to him because of some comments he made at a one point I made a decision that I was not going to have other sessions, so I bowed out telling him that I got valuable information from the first sessions and that I wanted the process those discussions and then consider starting back in two months and that if we talk then I would make a decision at that time. And to his credit he called back at the designated time, but honestly I already made my decision... not out of anger, but his reaction was so unexpected and so hostile, we lost a connection that is needed for that kind of experience. Yet, he has very good videos for free and he has an advanced course I think he calls it which used to be around $800 and I think there's quite a bit of value to it. If the connection had been better between the two of us it would be better to spend the money and use your time with the therapist... not because you're mentally stressed or mentally sick, but to get through trading barriers that are related to how you deal with markets. However, while I didn't have the input of a clinical therapist as it relates to my trading in my past experiences with stress, I was still able to replace some of the negative counterproductive aspects of my psychology by focusing more on price action and detailed analysis of the market whenever I needed it to control and mitigate negative responses and replace it with a more accurate read of the market. To give you one example: coiled markets by definition are horrible markets to trade, absolutely terrible. If you can identify them, there is no reason to get stressed out because the buyers and sellers don't know what the markets going to do for the most part. So if I know what that market is, and I decide not to trade it because I have no advantage as a buyer or seller, then I know the reason and it's not because I'm stupid or I'm confused. My only decision is not to fight the observation and my only action is to not even think of trading that market. And the problem is solved. I may not make money that day, but I'm not going to lose money. My opinion is that most traders do not recognize certain developments in a market when they absolutely will end up losing if they open up trades in these markets. Many traders think they can battle the market because they're smart, or because they made a lot of money doing other things, and because they think they have to trade right now to make money right now because time is money in the market isn't ready for their trade in the market will take their money.
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