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Trading coaching?

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skelm

skelm

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27 May 2010
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As this is my first post please forgive me if I don't post in line with the tone of the forum / understand the correct procedures for getting this question answered.

I'm a professional poker player from Sydney, Australia and have had great success in my profession for the last six years. I'm at a point now where I'm a bit older, more reflective and no longer wish to have all of my eggs in one basket (particularly given the nature of my primary income).

When I was an up and coming poker player I paid another professional an hourly wage to play over teamviewer (remote screen sharing software), watching me and coaching me, teaching me concepts. In addition to this I helped with the expansion of a now quite popular poker video training website (professionals would record videos of their play, explaining their actions for members who would pay a monthly fee to access all videos). I won't include the link here for it would look like I'm advertising/spamming but can list it if asked.

My question is - Do such resources exist for the Australian trading community? As an utter beginner is there a community where you can pay somebody to mentor you or the existence of good and reputable video training sites (an initial Google site was too cluttered with spam to know for sure)?

If I'm completely off base (I am an absolute beginner after all) please set me on the right path - If these aren't the best ways to get my head around this, What is?
 
Plenty of courses/trainers/"gurus" willing to take your cash around here . some are good some are bad but they still want your cash.

Why not grab a FREE introduction and learning by following a few threads around here b4 you decide to hand over the cash to someone first

only my 2 cents
 

That's most certainly going to be my first course of action (although the advice is still appreciated).

Are coaches listed on here in a central area (or is this more a word of mouth / private message thing) and who would be best for a beginner in your opinion?
 


I dare say there will be suggestions of a certain service that a few here use . Personally he dont do much for me and not impressed by the fanfare so i will not mention him by name ......

FrankD,s thread worth a read

Trembling hands threads/posts/blog worth a read

Tech/a,s posts worth a read

There are numerous other worthy contributers here but as far as PAID mentoring/coaching goes its not my basket to suggest any as personally not actually impressed by any mentioned here as yet.
 
skelm said:
I won't include the link here for it would look like I'm advertising/spamming but can list it if asked.
Click to expand...

Yes please i would be interested in having a look at this.

In answer to your question, what sort of trading do you have in mind? Being a pro poker player i assume you would be interested in short term day trading / scalping. If this is so read trembling hand's threads, and just start practicing with your own trading account. Frank D does a good blog throughout the day as he trades the SPI although he doesn't watch what you do and give you feedback. If you are after longer term trading weeks / months, then The Chartist is a good service in my opinion with a lot of resources that you as a beginner would find very useful. However The Chartist isn't intra-day trading it is end of day trading.

P.S you will learn a lot from reading this forum too - lots of good threads here
 
Long shot, but if you have a tertiary degree, along with you're poker background, there are certain MM's who would have a look at you for their trading programs.

No guarantees though
 
mazzatelli said:
Long shot, but if you have a tertiary degree, along with you're poker background, there are certain MM's who would have a look at you for their trading programs.

No guarantees though
Click to expand...

MM's?
 

Thanks for this, very much appreciated.
 

The site I started with was StoxPoker which eventually merged with CardRunners. I can't post links yet (low post count) but doing a quick Google search will help you find it quite easily.
 
sklem welcome to ASF, if you have had some success at poker then dare say you will certainly have some transferable skills / psychology which is rare in this game.

The problems with coaching etc in the trading world is that its normally massively over priced bullsh!t that is available on the net.

Its an industry that doesn't care as neophytes by the thousands wash through continuously and the sprukers rinse out there $.

There are a zillion ways to profit / lose in the markets and this may take you a little while working through what suits you be it instrument, market or time frame.

I think Nun is alluding to Nick Radge over at the Chartist who I would recommend as a possible starting point if only for the fact you can joint up for a month kick the tires read through the site and directly ask Nick questions as a member.

This will not cost much and there is no lead in crap to spend a fortune on basic information.

I have no connection to Nick in any way other than still use his service as a market barometer.

Good Luck
 
My advise to any newbie wanna be trader is he following:
1. By a few books on trading, trading styles and market dynamics
2. Open a demo trading account and paper trade for a few months
3. Watch webinars on various trading sites and attend as many free webinars as possible. The only trick here is to not put your hand in your pocket and buy the systems and software you just saw. Everything looks tempting and wonderful, however as a newbie, you are best off just observing and asking questions.
4. Watch trading videos on You Tube. There a hundreds to view.
5. Take a few trials of newsletters, gurus, trading rooms but again just get an understanding of what they do and how they do it.
6. go back to your demo / practice account and try all the new stuff you have just learnt. Keep developing a system that works for you.
7. After 6 months and once confident, take $2000 and open a real trading account and start trading.

IMO this is the best way to learn. Do it yourself. Keep away from gurus, masters and other so called experts as they will take your money off you in a second and there is no guarantee that you will be able to trade, let alone trade profitably. Invest your tuition in the market on one or two stocks and by doing this you will learn what works for you.

This may take a bit longer, however you will end up being a "fisherman" and capable of feeding yourself. In this business, everybody is an expert and everybody knows exactly the the market will do.... so the experts tell you. This is cr@p. Nobody knows and nobody knows what will happen tomorrow, especially in these volatile markets. Therefore I do not see why you would follow a so called guru or expert.

Take it slow and learn. The markets will still be here tomorrow.

If you are looking to trade for income and instant profits, then I suggest you look at FX and futures, however the risk increases dramatically.

Take baby steps, one at a time. Enjoy the journey!
 
What is the best environment to paper trade? Are there computer programs set up for this type of practice (a simulated trading interface?)

Cheers
 
deanj said:
What is the best environment to paper trade? Are there computer programs set up for this type of practice (a simulated trading interface?)

Cheers
Click to expand...

Yeah demo accounts. The trick is to let it simulate (to the best of your ability) what you would ACTUALLY do if it were your money. I found in the end that it was helpful to a degree but couldn't beat investing my own 'hard earned'.
 
newbie trader said:
Yeah demo accounts. The trick is to let it simulate (to the best of your ability) what you would ACTUALLY do if it were your money. I found in the end that it was helpful to a degree but couldn't beat investing my own 'hard earned'.
Click to expand...

What are the best places with demo accounts? I don't believe comsec has that option?
 
Have a look at FX, CFD & futures providers. Stocks are for old men and punters who have had their tab account closed by their misses. Futs & Fx is where its at.
 
Trembling Hand said:
Have a look at FX, CFD & futures providers. Stocks are for old men and punters who have had their tab account closed by their misses. Futs & Fx is where its at.
Click to expand...

crack me up but fair call as advice for a poker player
 
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