“Knowledge comes, but wisdom lingers.

It may not be difficult to store up in the mind a vast quantity of facts within a comparatively short time,
but the ability to form judgments requires the severe discipline of hard work
and the tempering heat of experience and maturity. “
– Calvin Coolidge

Hey E, I have followed you on twitter for sometime now and I am very interested in you being my mentor. Is there a way we can make this happen?

T.A.G.

On Mentoring

Hey E, I have followed you on twitter for sometime now and I am very interested in you being my mentor. Is there a way we can make this happen?

T.A.G.

Of course, and thank you for following me T.A.G.

Please suggest how you would approach this so it makes sense for both of us.

Give me some background on yourself and your experience.

E

(I didn’t know if he had a sense of humor or not. My first thought was: Sure, deposit One Million USD in a swiss bank account and let’s chat.)

“We must all suffer one of two things:

the pain of discipline or the pain of regret or disappointment.”

-Jim Rohn

E,

Last spring I graduated from … I am now a business consultant for… I have been trading stocks/options/futures for about 3 years now. I now only focus on futures (mostly ES & NQ). I have a strong understanding of technical analysis, having an edge, and money management all equaling a winning strategy. My problem is myself, I have a hard time being consistent and disciplined to the trade plan. I will be consistent for a month, make some nice money then blow it all on one terrible trade where I over leverage and don’t follow the plan. My true passion is trading, and I’ve come to the point where I know I need a mentor who can alter my thinking and keep me consistent to the trade plan. I am not really sure what kind of structure you would be comfortable with around mentoring me, so how about you let me know what you are thinking? Thanks for taking the time to respond to me.

Best Regards,

T.A.G.

The Reversal game

E,

Last spring I graduated from … I am now a business consultant for… I have been trading stocks/options/futures for about 3 years now. I now only focus on futures (mostly ES & NQ). I have a strong understanding of technical analysis, having an edge, and money management all equaling a winning strategy. My problem is myself, I have a hard time being consistent and disciplined to the trade plan. I will be consistent for a month, make some nice money then blow it all on one terrible trade where I over leverage and don’t follow the plan. My true passion is trading, and I’ve come to the point where I know I need a mentor who can alter my thinking and keep me consistent to the trade plan. I am not really sure what kind of structure you would be comfortable with around mentoring me, so how about you let me know what you are thinking? Thanks for taking the time to respond to me.

Best Regards,

T.A.G.

You don’t need a mentor, you need a drill sergeant or a jr high school vice principal to rap you on the knuckles when you break your rules.

Overleverage is a no-no

You are young

use the principle of compounding

be satisfied with your small but consistent gains

Over time they will add up.

Make your trade size a function of your capital.

Add more size ONLY as your capital base increases.

Forget the Ferrari and drive the VW Passat over and over.

Your winning trades can be multiplied exponentially, and it seems you have a lot more of those than the bad days.

Read sway.

Be accountable to someone for your trades. Yourself, but also a friend who will monitor your actions and remind you to STOP.

Read about nucleus accumbens

Leverage your time, not your money

I hope that makes sense

E

Be Prepared

For The Storms of Life