Topic: Do you follow your mentor guidelines or do you follow your lust? (Read 900 times)

Excited to hear about your positive results while learning and trading without a mentor, you are one among a few others who are lucky to figure out their trading path on their own to the point of becoming successful traders and for sure, your input with detailed explanation of how you can make it through the rough road to becoming a pro trader, at least this will help most people who are still struggling to find their bearings in trading alongside, trading have not been a success, considering the risks that come with trading cryptocurrency.

In my years in the crypto space, I have never experienced having a mentor just to learn trading, although it is also an edge if you have a mentor while learning trading.

But for my part, I only did it on my own, it took a long time but at least my efforts to learn trading in the crypto space have yielded results.

Just like on what i have said that everything will really be that depending or basing up into someones preference because not all will really be having that the same liking on how they would really be that learning up themselves on which there will be those times or moments that you will be wanting to have someone to guide you on which its understandable that we do want to have  that fast track way on learning up things. This is why there are some people who do really paid up some mentors just for them to be guided on what they are really that trying out to learn specially on trading on which this isnt that bad either if we do speak about learning up on your own pace.The good thing about learning things on your own is that its free but it will really be just that requiring up that effort and time on which you will be needing up to  do because there are really things on which you can be able to learn without spending a dime. You can test out your skills with demo and make out some practice trades on which this is where you will be able to make up some learning but of course you should really be that still be careful because you will be still needing up that emotional control on which this is one of the most important thing that you do need up to consider on controlling it specially when you are dealing up with an unpredictable space.

Mentor's fee is costly and not all of us can afford paying that. This is also one of the reasons why I end up learning trading on my own, which is also an advantage in the end since I've got to easily learn from my mistakes and apply them in trading. However, emotions are the hardest thing to control with, but with discipline that I'm trying to learn for so long, finally I was able to create more positive outcomes and manage to lessen some of the inevitable losses when trading.

As a disciplined trader you must learn to follow the guidelines of your mentor, trying to trade based on instincts or greed can be a very wrong way to approach the market... The importance of having a mentor cannot be overemphasized, a lot of people don't like the idea of being mentored probably because some experts charge a huge amount of money to get started on their mentorship classes. Following your mentors direction strictly would help you a lot.. learn to trade strategically, don't trade like someone that's into gambling. Following your greed is a wrong way to go.

I can't imagine how someone could be my mentor if he was not a whale trader. What can a mentor teach you? How to trade profitably? Your trade session is profitable because someone else loses. Trading needs both, winners and losers, there can't be both winners.
I think that one of the most important skills is patience and attentiveness. Carefully choose the coin you want to trade. If you stick with coins like Bitcoin and Ethereum, always read news about these coins because they are heavily affected by the news, these coins can't be dumped and pumped like shit altcoins.

I don't follow my instincts and emotions because when I followed them, I lost. Instead, I try to think rationally and don't let my emotions rush me into mistakes. If I lose, I try to be calm and stick with my long-term plan. It's okay, sometimes you lose, sometimes you win but if you rush, you'll always lose and with a long-term plan and patience, you'll win. Have a look what was the price of Bitcoin 1 year ago and what's the price of it now. It's easy to get 200-300% profit with patience.

Having a mentor is important in trading, but what is more important is finding or making decisions based on independent research results. Mentors are needed only to be able to learn the models and coins that we want to invest in, but decisions must still come from ourselves. Without a mentor, you can also learn and dissect information yourself like being in this forum, although the process is slow but if you do it right it will definitely work. Because in this forum we have a community that already has experience and of course in the same field. Friends in this forum will provide more relevant insights than mentors, especially free mentors.

The point is, every trader who wants to start trading, whether they have a mentor or not, must learn a lot (especially risk management and trading psychology in addition to Technical Analysis). Start trading on cryptocurrencies that have long-term fundamentals, then use cold money and start with a little capital first.

You're right that the privilege won't last forever, and you can't be dependent on a mentor throughout your life. So, it's important for those under mentorship to learn everything as quickly as possible so that they can do the things themselves without requiring any guidance at every step because, who knows, you might not have a mentor in the future, so it's better to learn while you have the opportunity so that you can manage your stuff yourself when you need to.

I can't help but mention that people who do things without mentors or guiders tend to have a stronger understanding of the things because they learn them the hard way. When you have someone telling you everything, the chances of making a mistake will be tiny, whereas if you are doing everything yourself, there will be more mistakes, but those mistakes make you learn the thing to the core, which is an advantage of not having a mentor.

Yes, in crypto trading the mentor was a teacher for me, when I was still a beginner the mentor carried out trading activities for me with advertisements and with pleasure, so even though I am currently carrying out trading activities in the crypto market myself, but I still listen to advice from mentors, remember in the crypto world there are things we don't know but other people do, so don't underestimate mentors after we find the way.

Sometimes, my instincts and instincts work in crypto trading, trading definitely has its charms, it's not as smooth as expected, but my instincts are enough to make me successful in the crypto market, so both instincts and mentors are important, both of which are mutually beneficial.

Mentorship is good when it's about knowledge, not about money.
Usually, it's a trap for newbies - they are lured into the courses and such to be poked afterward and be brought to the consequences on the market.
So it's only viable when your friend or such is able to help you out and guide you in some things.

As newbie mentorship is something we shouldn't disregarded because they knows more than we can and they can lead us successfully if they are also a successful trader as well, knowing when or what to do can help as a trader but mentorship goes along way because they have been on the system for long and can tell you how the market behave most times than you know that is why people should learn to keep mentorship and follow their guides to know how to become successful with their trading journey.

Honestly, last year had some good periods of making money, so in 2024 trading wasn't that hard, if you did badly last year and doing better this year then it means you have really grown a lot. It was easy to make good profit last year, because of how high everything went, so you should have made some great profit, making a loss means you were bad, and now this year it hasn't been that long, so making a profit now in such a quick period means you did very well, that's a huge improvement.

I have never checked myself that quickly, usually I take a look back and see year by year and I can say that I have grown quite a it, specially on bear periods, I do DCA and usually wait and the results are much better lately, the recent 2022 one turned out to be great time.

If a trader is privileged to have a kind of opportunity relating to mentorship I must bet they’re lucky. It’s not every time traders get it right even at 50% chance it’s still not an easy work but, for the fact someone is available to guide the process is still better and preferably compared to instinct or the internet. Traders without a guide hardly learn quickly, presently there’s nothing like a right choice till the outcome is perfect then you work toward the method. Trading is a kind of investment that involves lose so if anyone should think positive about trade with a mentor they’re just getting started (newbie) there’s still more to learn.

I agree with you, because the year just started and we are making a lot of good trading decisions compared to last year was I made a lot of bad decisions although those are the learning stages right now I have a clearer view of the market and at the same time being able to properly study the chart and make good positive positions while trading, mentorship has not really been in my learning stages but then I have seen a lot of people advocating for a newbie to start up their trading journey via the help of a mentor and that the make 2x better decisions than those without mentorship in early stage.

Having a mentor is a plus, but not a requirement for you to become a successful one. Having a mentor is useless if you can't even control yourself, your emotions and you can't even make good decisions. I didn't have a mentor, and I might not be a profitable trader yet, but I feel that I'm performing way better this year already than last year where I made so many decisions.

Instincts? Disregard that one and look at what the chart is showing to us. There's an influencer that I follow, and he always say, "Every candlestick is a part of a puzzle so analyze it to make better decisions." and it's true. Knowing how to analyze the charts is a requirement in order for you to become a successful trader. I don't think instincts have any room when it comes to trading TBH.

Those people are at a severe disadvantage compared to the rest of the traders that can learn on their own, after all, you will see that most of the traders you can see out there learned to trade alone since there was no one that was willing to teach them, so by having to find a mentor, those people are not only using money they could use to trade, they are also wasting a lot of time, since finding a good mentor is very hard, as the majority of them are not profitable traders.

Those lines show that you know what you're doing. To succeed at trading, people have to recognize that trading has to do with set skills horned over the years. It's not a shortcut to making wealth. No, it's not. It's an irony that people think it's. Some barely spend six months practising but want to become super rich from those few months while they must've spent years studying at tertiary institutions without being taught financial literacy.

Yes, it does. However, it also doesn't guarantee that you will be successful at trading. It all depends on how good and profitable who's mentoring you is. As for me, I wish I had a mentor while starting up. I never did. I read and "gambled" my way to this point that I am now.

Instinct? Of course, not. My trading pattern is based on TA, and not sentimental analyses where instinct comes to full play.

all information can indeed be obtained online. but that alone for some novice traders will not make them brave enough to start trading. some dare to try to experiment on their own, but some need direction from others to get started. mentors can help in planning trades and also evaluating after the trade is completed. so we will have input for our next trade. some traders develop quite slowly when they trade with their own learning. but for some others still feel comfortable with the process.

Not all mentors to be that worth or ideal on which some of them are just basically teaching you into the things that could be searched up online. The shit thing on here is that you've been paying up into something that you can actually get it for free and this is something that a certain person should be realizing if ever they would really be that deciding that they can make money with trading. Usually there are ones who do much prefer on having a mentor and there are ones who do want to do solo because actually you can really that making yourself that learn on your own but there are ones who do have that kind of guidance or does really need up some path to take via with those people who are knowledgeable or having those experience but there are ones who do really want to go solo on which you can actually be able to learn up on their own on which this isnt really that a bad idea either on which it will really be that best that you should really be that sticking into your own preference. There are ones who do learnt up things on their own pace on which they dont really like on getting stressed because they've been hurried up on learning things accordingly. Mentor or not then it will be just that depending on you because there are those who do like to have someone to teach them on what they should gonna do and on what are the steps that they do need up. For me then im a self learn trader on which it takes a couple of months or exactly half a year before i have been able to have some good grasps towards the market and i would say that its never been simple with this kind of situation on which everything will be basing up on how fast you will be able to learn along the way.

I don't trade regularly anymore, but if I did, I would have taken the help of a mentor. Because there is a lot about business skills, and the experience of a guru can guide me in the right direction. If I follow my instincts, I know that sometimes I may have to make wrong decisions because the market is very volatile.

In my experience, those who follow the guidance of a guru are relatively more successful, because they get help to understand the market movements and make good decisions. Following the trend has a higher chance of loss, because often one can misunderstand the invisible trend or the reality of the market.

However, due to lack of experience, I did not follow my instincts much while trading, but rather tried to apply what I learned with the help of a mentor.