Topic: Do you follow your mentor guidelines or do you follow your lust? - page 3. (Read 900 times)

For the ratio proportion, I won't mention any fancy number here but for the gutt feeling or you can call it instinct, it's very rare that I got a wrong decision. Most of the time I do follow my gutt feeling but these days it sucks.

The market is not making any good moves now, haha, as I've taken some FOMO entries and lost my backup into the market due to lust. So, yeah, you need to be greedy if you want to chase something big, haha, but make sure you can afford the cost of your greed. It is never recommended for a long-term investor to get all in, as I'm now all in due to my stupidity. For now, it's not showing any directional move; it's in a stalemate condition.

Following a mentor is one part of trading and like you said, it gives you more probability of understanding the market more by 50% than trying to learn about the market just by yourself without a mentor. Trading requires skills and when you’ve acquired it from a mentor, the rest need to be mastered by yourself. Following your instincts on what you’ve learnt about the market is very good, I feel it’ll make you achieve success sooner. When you fail by following your instincts, it’ll give you a more realistic guide on what to do next time when you come across a similar trade. It opens your horizon to know and learn more rather than just waiting to continue following the idea of someone or your mentor. You have to be independent in making decisions in trading.

Whether you have a mentor or not, you are still going to lose as a trader,  loss can’t be avoided as a trader, even your mentor does lose when trading, anyone claiming they don’t lose is just deceiving you. It’s always better to have a mentor when we are learning how to trade, but the problem is that it’s difficult to get someone who really understands what trading is all about as a mentor, some of those people that do claim they are professional have little knowledge about trading.

If you can get a real professional trader, then having a mentor is really a nice idea, because they already have experience, and they will be able to guide and share their experience with you. At least it’s going to reduce the way you will lose instead of trying to learn how to trade yourself, because you are going to lose more.

I never had any mentor when I started trading, I learned to trade by watching videos on YouTube and reading books online, but I lost so much when I was learning how to trade. If I had had a mentor when I started trading, then I wouldn’t have lost so much, so I will say following a mentor's advice will really be of great help.

Discipline isn't form from having a mentor because your mentor can't put discipline in you when you're not a discipline individual already. You have to be the one to train your habits to be disciplined because without being a disciplined trader you can't be victorious as you wish to be. Mentorship is good for a trader as they'll help you put you on the right track and you wouldn't be making the mistakes that other traders make but don't be over happy about this because for the traders that are making mistakes and learning from it, they can become a better and successful trader than you when you don't take your trading serious. A mentor is different from a teacher because you can have somebody that teaches you and others on how to trade but he isn't mentoring you people. He's teaching you because you have paid him and not because he wants to see you become victorious as his mentee.

You guys are right about the importance of a mentor in activities such as trading that come with high risk, because having prior information and knowledge coupled with guidance from a mentor can save us a whole lot and help build our confidence, for that reason, a trader who's a mentor is actively involved in the trading activities will likely make more profits and take right trading decisions compared to someone who depends on their instincts to trade at some point, and research has also shown the same, so a trader with a guiding mentor is far much better in this regards, although some experts may think otherwise in this case too.

Well, the notion of judging what is the "right" path is kind of odd imo? What's right is what makes you profit. Anything else is basically wrong, since that makes you lose money. In that sense, doesn't it mean that losing looks pretty normal? At least that's how I'd judge it.

For trading, I just mainly follow the trends nowadays. What a trend can mean may vary, and when I first started it was whatever coin I first heard of so I lost quite a lot thinking everything in crypto makes a profit. Nowadays I just look at coins that are performing well marketwise, trade them for a few days at most then profit out. If it doesn't go well I'd still sell since I generally don't want to stay for long.

If a trader follows his instincts when trading, then it looks just like playing in a casino. And there is no need to turn trading into a casino, as a trader has many tools to analyze the state of the market and predict price changes.

All activities involving mentors are good because they can provide knowledge to people who want to learn, but it takes ability and most importantly will not blame others when experiencing losses. Trading does not guarantee profits at all times, therefore we must understand the impact even though there is a mentor as a teacher who teaches us trading. When not ready for the risk of loss, trading is not an activity that is worth doing because it is feared that it will affect psychology.

Discipline will be formed when we have a mentor and usually they will teach certain ways to control trading better because if we expect us to control it, I'm sure it won't be possible especially if you do not have experience.

If you want to learn then learn, don't compromise and make sure you train with what you've learned for at least 3 months. If this is a good strategy with satisfactory results, then ensure you follow it to the letter. I wonder why any reasonable trader would do otherwise if they are sure of the success lurking in such a strategy (self-learned or mentorship imbibed).

Following your instinct in trading is wrong, it may work for you at times, but it's just as if you are gambling. I advise traders to learn and build their own trading system and plan. This will help them to be more decisive and professional in their trading escapade.

The challenge in this is two:
the limited resources to trade with two approaches that is the one from your mentor and at the same time trade with your instincts and desires andthe inability to properly manage yourself through this following these two approaches concurrently, because aside from the money required you also have to place the time how to properly divide the engagement when trying the two approaches.

Why not compare the result of both and decide based on that? Put aside two sets of money, with one of them just do whatever your mentor says and just follow those guidelines and see how much profit or loss you make. And then put aside another and use that just for whatever you think would be best, think of that as lust, think of that as greed, think of that as your own trading expertise, whatever you want to name that, and check out and see what that shows you on the long run as well.

If you could make a decent amount of money from that, I would say that looks like a good deal and I would go for that, but that won't be an easy one, it will take a while and I am pretty sure that we are going to end up with a lot of trouble because of that.

You are right because they will teach based on their experience and knowledge and the rest we must also have wise decisions when we want to trade. Losses in trading and blaming others are attitudes that are not ready and maybe it is not a job that should be pursued by people like this because all decisions that have been made should be the responsibility of each in managing risk. If we are not ready to trade with the consideration of the risks that will be generated, then we should study first and try not to push ourselves further.

This is what most beginners who learn trading do not have and they always think they can make a lot of money when they are involved in it. But to a certain extent they are unable to control their emotions and will result in fatal losses of a lot of money in trading without a plen when experiencing losses.

Basically, the mentor's job is only to provide knowledge, not to be responsible for the profit or loss in the trades we make, so if we experience a loss, we should not blame anyone but ourselves, and vice versa when we make a profit.
There are many positive sides to having a mentor when we are just learning to trade, the most important of which is that we can learn a little faster than starting everything alone.

There are many things in trading that must be controlled, and it is true as you said that our emotions and psychology will greatly affect the steps we will take, so things outside the technical aspects of trading also have a great influence.

Learn trading with anyone but make your own analysis with a strategy that is suitable to use because other people cannot guarantee that the trading we do will not experience losses. Mentors provide experience for us and maybe they can help in doing analysis according to what they do but it takes self-ability to make decisions before taking steps to enter trading because without making the right decision, the trading we do will experience losses.

Manage risk and try to get involved in trading according to your ability to be responsible. Don't be greedy and don't force trading in an excessive manner because it will have a greater psychological impact on the trading process that we will do.

We have mentor, or we are following things which are new for us in trading never works until we jump into ocean because if we want to be successful we have to learn to swim without this we can't be good or successful mentor can give only guideline which could be wrong or right it's not predictable I personally follow few peoples in trading even I pay fees, but sadly things never work for me in trading and I also never been able to avoid big loses which hurt me badly.

We usually need our efforts some experience and strong mentality these things can help for having better results just going through with mentors surely not going to give you results which we are looking in trading or having mentor.

That's the point, they only provide information to someone, so it actually has nothing to do with profit and loss, because profit and loss will return to the results of the analysis and that too if the market does not change suddenly, remember the market is very volatile and will change at any time, one of which is when there is big news for example. So never think that a mentor will make us profit and even they themselves will not always profit in their trading. But I hope that mentors or someone who considers themselves a mentor must be open, I mean they should not promise something that is actually still a question mark or they have to share all the information, including the risks too.

Mentors function to teach people to do analysis according to their knowledge and experience that they have may provide a certain pattern in carrying out trading, but still we can never avoid losses in trading because market conditions change so quickly. Mentors do not provide a guarantee that the trades carried out will always result in profits, so the function of a mentor is not only a matter of profit and not experiencing losses. Not all strategies can work well, especially when talking about a market that can change so quickly that sometimes certain patterns do not work well as planned.

It was never been a guaranteed thing and also when it comes into this manner on which having a mentor wont really be giving out any assurance that you will be able to succeed on the moment that you do deal up with investment here on this market. On the time that you do touch up this trading then it will be that recommended that you should be making your own analysis because we do know that when it comes into this thing on which not all will really be having a good grasps when it comes into this. When you do have that plans on hovering into this unpredictable space then its better that you should really know at least on the things that you are dealing into. Self control will really be that definitely be needed because if you dont have this thing then you will be having a hard time on grasping out the volatile market.

Following a mentor whether free or paid then it will be that up to you because theres no assurance that you will be able to succeed because there will really be factors that will be affecting your success rate despite of following up someone. You will eventually be able to spot out on which one will really be that viable thing to do because its really that impossible that you cant be able to determine on which one will really be that suits out your trading ways and methods.

Exactly, it means having a mentor is not a guarantee that you will be completely free from the risk of loss, even your mentor is the same, they always have the possibility of experiencing losses, but the difference is that they will not experience losses too often compared to beginners or traders who do not have much experience and knowledge, and that is natural because after all there is no trader who can predict the price direction 100% accurately, there will always be certain times for them to miss the prediction which ultimately results in losses, and that is the reason why a trader must have good risk management such as money management and self-control, because it is very important, the benefit of which is even if you lose, everything is still well controlled.

I had a mentor before tho and I followed his strategies for a while but i had to unlearn and relearn because i realized most of his strategies didn’t work for me. His strategies worked perfectly fine for him but you know we are different from each other. No knowledge is wasted at least he taught me the basics of trading. But i had to discover new strategies that align with me because to thrive in this space you must follow your instincts and do a whole lot of research. Following my instincts and being technical has helped me a lot.