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I have been lucky enough to be on the receiving end of two great mentors.
The first is actually one of the traders in Market Wizards and the second
mentor SHOULD be in Market Wizards. I have paid neither one a dime. I can
only speculate why they have helped me. The thing I know for certain is
that I would no longer be in this business if it weren't for them.
The first "Market Wizard" does offer intense six week training for a fee of
$50,000. Yes... $50,000. Yes, people pay that much. How did I meet him?
I moved to his town (some may call this stalking) and simply wrote him a
letter stating that I would love to meet him. For this privilege I'd buy
him dinner, shovel his driveway, take him skiing,...etc. He called me a
couple days later and asked if I could teach his son to ski. I taught his
son to ski. Skied with him a couple times. He had me over to his house and
we became friends. He is one of the most amazing men I have ever met. In
all, he spent over 40 hours with me. He taught me a little about his
technique but the real help was the vote of confidence he placed in me after
a bit of psychological probing on his part. He said he believed that I had
what it took to be a success in this business. It may have been bullshit
but it inspired me to persist and persevere.
The next mentor I came across was recommended by a member on this list. I
contacted the guy and he talked to me on the phone a couple times. Nothing
much was exchanged but I found out we had similar methodologies. I then
went into a drawdown that was close to forcing me out of trading. I
contacted this gentleman again via email and let him know I was in trouble
and needed help. Less than 15 minutes after I sent the email he called me.
That was a year and a half ago. We talk at least once every trading day.
We go over each other trades and talk shop. He is one of the most
consistently successful traders that I have ever heard of. He is the reason
I didn't blow out. I haven't received a bill from him.... yet, but whatever
he charged would be worth the knowledge, experience, and friendship he has
shared with me. He is a man I truely respect and trust and I consider him a
very good friend.
Trading can be a VERY lonely profession. I think there are many great
traders out there wanting to help others in order to fill a void inside of
themselves. Mentoring probably validates thier success.
Hopefully one day I can return the help to an aspiring trader.
Sincerely,
Howard Hopkins
>From: Bob Heisler <bheisler@xxxxxxxxxx>
>Reply-To: realtraders@xxxxxxxxxxxxxxx
>To: realtraders@xxxxxxxxxxxxxxx
>Subject: Re: [RT] Mentors:What makes a good Mentor
>Date: Sat, 19 May 2001 17:17:36 -0500
>
>This is an argument I have heard before and just do not understand, and in
>fact I find quite offensive. If a trader is successful he/she has no doubt
>gone through an extensive and painful journey to figure out how the game is
>played. And if they have some kind of courseware/system they no doubt
>invested hundreds/thousands of hours to develop it. If that person then
>decides to offer a fee-for-service to assist other aspiring traders he/she
>is labeled a charlatan. If he/she instead gives that knowledge away for
>free he/she is called legitimate and a great person.
>
>Why in h-ll should that person be compelled to then give his knowledge away
>to other traders or be labeled a scam?
>
>Personally I see absolutely no problem in charging for expertise. My
>accountant does it, my doctor does it, my dentist does it, etc., etc., but
>we don't label them charlatans. There are too many people looking for a
>handout when instead they should be looking for a hand up. We already have
>an over-abundance of entitlements in this country. We also have an
>over-abundance of people who are really looking for an excuse to shift the
>responsibility for winning or losing to someone/something other than
>themselves.
>
>Bobh
>
>----- Original Message -----
>From: "DH" <catapult@xxxxxxxxxxxxxxxxxx>
>To: <realtraders@xxxxxxxxxxxxxxx>
>Sent: Saturday, May 19, 2001 2:15 PM
>Subject: Re: [RT] Mentors:What makes a good Mentor
>
>
> > > Laudible characteristics.
> > > Several of the characteristics lacking are:
> > > Honesty, Vulerability, and
> > > guilessness in the case of transmitting knowledge and technique.
> > > Lacking the above the mentor-prote'ge' relationship in this business
>will
> > > sour rather quickly, when the
> > > master say's, "Put another dime in the record machine. "
> > > When the Mentor is partially motivated by being needy upon the student
>for
> > > his/her livlihood, the relationship is poisonous..
> >
> > Yep. Unfortunately, there seems to be an inverse relationship between
> > the amount charged and the quality of instruction. The very best stuff
> > is free. I look at it this way. If a trader has been in the business for
> > xx years, and is good at his craft, he is making enough that he has no
> > need for the chump change of student tuition. If he is charging the big
> > bucks for tuition, he is probably depending on that for his income,
> > rather than the profits from his trading. You need to ask yourself why
> > that is. One possibility is that he is not as great a trader as he
> > claims and finds it easier to make money teaching. There are some great
> > traders who get personal satisfaction from teaching. They don't need the
> > money and they don't charge anything. Look at the stuff Tim posts on his
> > web page as an example. He uses the internet as an easy way to
> > communicate with as many people as possible and it's all free. Even
> > Mark, with his own unique style <g>, gives away a lot of good stuff for
> > free. Contrast that to those who drop vague hints about "secret
> > knowledge" and refuse to impart their "knowledge" unless you pay (and
> > pay and pay). It's pretty clear to me who is motivated by a sincere
> > desire to help and who has other motives.
> >
> > --
> > Dennis
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
>http://docs.yahoo.com/info/terms/
> >
> >
>
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