I liked the ideas presented by Brian so have posted here.
The ideas from Brian are in response for to some questions fom Dave.
Read the lower part first.
This post may be modified/appended in future, depending on further discussions.
If you have a comment too, do write.
I hope you don't mind my uninvited comments; you aroused my empathy.
If you are not looking for advice don't read on.
Note! my comments are nothing to do with Mr Seward's site which I
know nothing about.
Loss of confidence is a fatal blow for most.
If the mentor you chose is a fake, your confidence will fall even
further, and you will almost certainly be finished.
Your honesty and search of a positive way out is your hope.
I have personally only paid for one trading seminar, and 2-3
electronic trading systems, or courses, and they were all duds.
I did recently meet an Australian trader who I would be happy to pay
the $3k for, if I needed a mentor (please - no one ask me for a name,
I couldn't bear being responsible for a trainer endorsement), so
there are some good ones out there.
The market does not beat us; we beat ourselves.
Attitude is at the root of the problem.
The most common attitudinal failing I observe is lack of patience.
Everything we do today is fast, fast, fast and we want it now.
New traders are going to actual trading far too soon.
It takes years to learn to consistently trade well.
Of course it is not a problem if you are playing with 10K and that is
only pin money to you.
Knowledge is power, power is confidence.
Lack of confidence is based on lack of knowledge.
In short, not with the desire to be cruel;
you didn't know what you were doing and you got found out.
Mechanical system trading, while being the easiest method in some
ways, is actually the hardestway to trade of all.
It is easy, because, like Amway, once the work is done it stays done
(you don't have to keep poring over company financials for example).
On the other hand, an understanding of EVALUATION AND MONEY
MANAGEMENT is crucial, and this is a very difficult subject.
If you follow this board, you will know how easy it is for seasoned
traders to get into a heated argument over the right and wrong way to
go about that.
Note that everybody says MONEY MANAGEMENT,MONEY MANAGEMENT, MONEY
MANAGEMENT but I added EVALUATION because when the techniques of
system evaluation are understood, MM falls into place automatically.
If you can come to understand E + MM like the back of your hand your
confidence will be back (after a lot of paper trading and
Another way out, might be to choose an easier method to start again
with e.g. Ed recently endorsed Techno-fundamental trading in the
forum, which I believe is a lot easier and more forgiving.
Finally, anyone who is starting out could do a lot worse than pay for
a mentor to start them on the right foot.
If they go it alone they will end up paying with losses and time
Provided of course a good mentor can be found; that is the rub.
I hope it works out for you and that you are not trading with money
that you can't afford to lose.
--- In email@example.com, "davelansing2004"
> Has anybody purchased Bill Seward's course featured on the
> website? My trading has been dismal for quite awhile and so I'm
> willing to purchase a reputable methodology in order to get back on
> track, money-wise, while trying to get my confidence back.