{"id":8687,"date":"2020-10-08T01:43:15","date_gmt":"2020-10-08T05:43:15","guid":{"rendered":"https:\/\/optimusfutures.com\/tradeblog\/?p=8687"},"modified":"2020-10-08T01:43:15","modified_gmt":"2020-10-08T05:43:15","slug":"trading-mentor","status":"publish","type":"post","link":"https:\/\/optimusfutures.com\/blog\/trading-mentor\/","title":{"rendered":"Becoming Your Own Trading Mentor | How to Analyze Your Own Trades"},"content":{"rendered":"

This article on Becoming Your Own Trading Mentor is the opinion of Optimus Futures.<\/em><\/strong><\/p>\n

\"trading<\/a><\/p>\n

There is a real value to doubt–to not accepting the storehouse of knowledge that other people built before you. Should there be any flaws in its foundations–faulty and dilapidated–or should its interior be cluttered with junk, you will find yourself stuck, wasting time separating the good components from the bad; the useful from the useless stuff.<\/p>\n

The upside is that you gain a certain degree of self-discovery leading to self-reliance and self-sufficiency. The downside is that you must build it all yourself with limited tools and resources at your disposal. But ultimately, it may be well worth the time and effort.<\/p>\n

In the futures market, this boils down to a simple process: you have to become your own trading mentor in order to become a truly self-reliant trader. Teaching yourself–essentially, DIY trading education–is not an easy task, but it is the only task worth accomplishing, second to actually making money in the live markets.<\/p>\n

What Many Beginning Traders Get Wrong About \u201cLearning\u201d<\/h2>\n

To become your own trading mentor, you first have to become a good learner. But it is this definition that most traders get all wrong. Sure, the word \u201clearn\u201d presents an explicitly affirmative idea: you absorb<\/em> and accumulate<\/em> knowledge. You gain<\/em> something– a combination of knowledge, experience, and skills. You fill a void<\/em> so to speak, meaning you satisfy<\/em> a lack. It is a positive process.<\/p>\n

The problem with this idea is evident in many beginning traders\u2019 experiences. You accumulate so much knowledge that its excessive weight bears down on you too heavily, impeding your progress; unable to make it to the next step. You end up a confused mess, burdened by too many approaches, all of which may be incompatible <\/em>in combination.<\/p>\n

Here\u2019s a micro-example:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
Indicator<\/strong><\/td>\nTrend<\/strong><\/td>\n<\/tr>\n
50 EMA<\/td>\nUp<\/td>\n<\/tr>\n
200 EMA<\/td>\nDown<\/td>\n<\/tr>\n
RSI<\/td>\nUp – 40 and rising<\/td>\n<\/tr>\n
Fibonacci<\/td>\n32% retrace – Down<\/td>\n<\/tr>\n
Volume<\/td>\nLow (reversing)<\/td>\n<\/tr>\n
Daily Trend<\/td>\nUp<\/td>\n<\/tr>\n
Weekly Trend<\/td>\nDown<\/td>\n<\/tr>\n
Monthly Trend<\/td>\nUp<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

So, is it up or down?<\/p>\n

If every indicator is not compatible, then on a larger scale, many approaches and strategies will likely be incompatible, making your job as a trader even more difficult when it comes to analyzing futures trades and markets. A plethora of knowledge, yet unable to act; paralysis by analysis.<\/p>\n

The flip side of learning is that it is also a razor-sharp negative process<\/em>.<\/strong> Learning what not to do<\/em> is just as important as learning what to do<\/em>. There are many ways to do something right, but only a handful of ways to screw things up.<\/p>\n

\u201cI know 101 ways to make money in the futures markets, but because I\u2026<\/em><\/p>\n