So I did a mentorship with Ben…
So I did a mentorship with Ben Berggreen (Bengt) in Q2 2023 and this was my experience. The trading mentors have excellent resumes and they walk the talk. This right away bolsters a lot of trust. They are also dedicated and are working right now for themselves. In my mentorship, I will say though that for this same reason, the mentors are a lot like my profs at uni since the mentorship role is probably salaried, even if it is a generous pay by the institute. Because of this, there is an attitude of if you do well, cool. If you lose money, cool, it doesn't really matter, I just want to get my cheque. Now, to be fair, the trade mentors are stellar at risk management and at quality control in idea generation, and they do a phenomenal job when things arise that need the mentee to strap in and pay attention. There is just a lack of that commission-sales type of motivation to drive you to do better, and I am in no place to say whether that is a good or a bad thing since a mentor could get incredible figures by their mentee in the mentorship by copy trading and then they utterly fail post-mentorship. I do believe though that a 25:75 commission v flat rate scheme would up the motivation of the mentors. Second of all, it is important that the mentors don't completely gas up the mentees to believe they're Bill Ackman or Carl Ichan, etc. Ben is extremely agnostic in his approach, and I found this frustrating. This is the DNA of a successful trader, but I found he would never express a view on you or your progress, certainly not in the positive. Let's put it this way: If Ben says nothing, it means you've done a good job. If Ben has any comments arising from some part of your work, it's 99% probable that you have discovered an area needing improvement. This is the mentality for understanding the feedback and I would not be surprised if several mentors take this approach. Frankly, the result (the return) is the only thing that matters at the end of the day, so if you got a positive return above the best performing index over the 3 months, great, just don't get gassed up about it. The mentors are cordial, but they're not your buddy. Ben constantly emphasizes the learning as being the more important aspect. He has explained that ITPM takes the "teach a man to fish, don't give him a fish" approach. It's a hard balance to strike, but I respect it. Just don't go into the mentorship thinking your motivation will be the validation of your mentor. Imagine you are Simon in Million Dollar Traders. You will be savaged if you want a pat on the back while delivering no results. If you want a coach who gives you motivational pep talks and reminds you of how good you are, there are coaches like this out there. Don't expect this here. All that being said, I am disappointed that Ben did not have the nuance to say which things I did which were "great" or exceptionally good and not just "satisfactory" or "adequate" since I think this would also have served to point me the mentee in a positive direction without inflating away one's ego. I wish Ben had gotten specific about many of the tools and methods used. With trading, there is a never ending slew of resources available, and the difficulty is eliminating them. Again, Ben's non-committal stance is "use what you find valuable" as long as it gets the job done and provides the analysis you require. As many mentors likely share this trait, Ben is radically efficient with his time, but at the same time he will go on tangents about already familiar topics which aren't terribly helpful to the mentee IMHO. Last few notes on this review: With your mentor, you are directing the learning about 50:50 with your mentor. Always come into your session with a direction. If you let your mentor dictate the session, I have found this ends up in a net detriment to your overall max learning potential. Be the self-starter by having your questions ready and the subjects at the front of your mind before the session begins, and as Anton tells you, embrace the ITPM principles starting with self-reliance. Second, I dealt with a rep at ITPM Vlad Chilian who really jerked me around and cost me valuable time and opportunity cost in my applications to the Institute. If at all possible, deal with Alin who is highly professional and responsive (so long as you are respectful and to-the-point). I don't want to give away the business model completely, but pricing of mentorship is in the low 5-digits (USD) and if you are not in this price range then to be blunt you are not prepared to risk your capital as a serious business-oriented retail trader, let alone with a professional mentor. But overall, if you have the savings accumulated and the aptitude for this type of pursuit, the value is infinitely greater than college and you will spend a hell of a lot less in both time and money. That's a trade I'll take.
10. heinäkuuta 2023
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