Lecture Notes on Trading Mentorship

Introduction

• Speaker introduces themselves as the "demo baller"
• Emphasizes the importance of a proper mindset before starting trading

Key Concepts

• Demo Accounts vs. Live Accounts
  • Speaker has primarily taught through a demo account for protection.
  • Some students struggle to replicate success in live trading due to lack of discipline or rushing.
  • Encouragement to test teachings in the market for personal verification.

Teaching Philosophy

• Focus on teaching earners (those wanting to learn).
• Will provide a simplified model for trading concepts.
• Important to recognize individual learning curves and avoid analysis paralysis.
• Discipline and personal responsibility are essential for success.

Structure of the Mentorship

1. Yearning to Learning to Earning
   • Three stages in the mentorship process:
     • Yearners: Individuals who want to learn.
     • Learners: Those who actively engage with the material.
     • Earners: Those who successfully apply the teachings.
2. Teaching Approach
   • Will focus on index futures but concepts apply to forex as well.
   • Mentoring style will involve a stripped-down approach with less complexity.
   • Content provided will include assignments and PDF files.

Personal Trading Journey

• Speaker started trading in 1992, initially in commodities and futures, later shifting to bonds and indices.
• Emphasizes the importance of finding a trading style that suits individual needs (e.g., intraday vs. position trading).

Trading Platforms

• Will be using TradingView for mentorship.
• TD Ameritrade chosen for live trading due to its reputation and regulatory oversight.

Expectations and Challenges

• Acknowledges that not all students will complete the mentorship due to frustration or differing expectations.
• Importance of personal accountability—successes and failures are owned by the trader.
• Discussion on the difficulty of transitioning from demo to live trading.

Goals of the Mentorship

• Teach how to recognize and take advantage of price setups.
• Provide insight into market behavior and price action.
• Focus on developing a personal trading strategy that does not rely on the speaker's input for every decision.

Financial Literacy and Realism

• Encouragement to focus on achievable goals (e.g., covering monthly expenses through trading).
• Speaker stresses the potential for learning to lead to financial independence over time.

Schedule and Content Delivery

• Mentorship to run for about four months, with a break in March 2022.
• Content will include video lessons on specific trading setups and principles.
• Assignments and resources will be shared through the community tab.

Conclusion

• The speaker expresses optimism and realism regarding the mentorship.
• Emphasis on finding simplicity in trading concepts while maintaining a keen understanding of market dynamics.
• Encouragement to stay committed and engaged through the learning process.