Do you follow your mentor guidelines or do you follow your lust? - page 4.

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Quote from: MarjorieZimmermanGinger on December 21, 2024, 09:20:04 AM

There is always a moment when we will lose money in trading even though sometimes we have followed the instructions of the mentor in trading and even the chances of losing money are much greater when someone is unable to follow the instructions of the mentor because they are motivated to trade excessively. If you are unable to control yourself then it is difficult to get involved in trading because maybe psychology will always play a role which ultimately makes people lose a lot of money in trading. Having a mentor is important but it is much more important for people to have control in trading.

Whether with a mentor or not, there is no guarantee that we can eliminate the word loss in a trade. It's just that when we have a mentor it will help us control our emotions, at least there is someone who will warn us when we are already in an unstable emotion.
Our way of thinking with other people is different, or in its implementation it may be different. Like a mentor instructs to do A, but we have a different understanding and actually do B. I think there will be something like that.
It's easy when we look at a football game, a coach has given a strategy, but the player fails or does not carry out the strategy properly.

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Quote from: Odusko on December 19, 2024, 09:22:30 AM

One of the popular alternative sources of income for cryptocurrency enthusiasts and forum members is trading, trading requires skills and these skills come with a long time of practice which gives birth to mentorship in cryptocurrency trading, most of us believe and agree that having a mentor in trading increases your chances of success by 50%, but the problem is that most of us traders still lose heavily all because we refuse to follow the right trading path.

There is always a moment when we will lose money in trading even though sometimes we have followed the instructions of the mentor in trading and even the chances of losing money are much greater when someone is unable to follow the instructions of the mentor because they are motivated to trade excessively. If you are unable to control yourself then it is difficult to get involved in trading because maybe psychology will always play a role which ultimately makes people lose a lot of money in trading. Having a mentor is important but it is much more important for people to have control in trading.

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Quote from: cryptoaddictchie on December 20, 2024, 05:42:56 AM

Quote from: Odusko on December 19, 2024, 09:22:30 AM

Do you follow your instincts and if yes what are the results you got in terms of the profits ratio against the loss ratio?

Yeah sometimes I followed my instinct but Im not an active trader and got some nice profit goes the same with the loss part. Trading crypto is very volatile and we cant always outsmart the movement of any coins or tokens out there. But having a mentor will definitely give us good edge since they already knew the potential speculation or analysis with the trade.

If you are not an active trader, I think it is okay to follow your instincts, then at least you know that doing trade is really very volatile and high risk. Then I also have not experienced
having a mentor in trading since I got into this crypto industry.

That's probably why it took me a long time to learn trading, but at least I made my own efforts and really worked hard to learn trading to be
what I am now in the field of crypto space.

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Quote from: Odusko on December 19, 2024, 09:22:30 AM

One of the popular alternative sources of income for cryptocurrency enthusiasts and forum members is trading, trading requires skills and these skills come with a long time of practice which gives birth to mentorship in cryptocurrency trading, most of us believe and agree that having a mentor in trading increases your chances of success by 50%, but the problem is that most of us traders still lose heavily all because we refuse to follow the right trading path.

I acquire a mentor because I want to learn, and that is why I follow what they say. Of course, it doesn't mean we can't argue their ideas, but as much as possible, we should respect them. Because if not, then there is no reason of hiring someone to teach us in the first place if we are going to insist that our ideas are always right.

Anyway, when it comes to gambling, there is no perfect strategy to win. That is why we are free to make our own analysis, but for me, it is still better to have a mentor at the beginning in order to have proper guidance.

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What do you do and what is your success recorded, do you follow your mentor's guidelines and advice?

Do you follow your instincts and if yes what are the results you got in terms of the profits ratio against the loss ratio?

Following our instincts is normal...so I did but not all the time.

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Quote from: Odusko on December 19, 2024, 09:22:30 AM

.. most of us believe and agree that having a mentor in trading increases your chances of success by 50%, but the problem is that most of us traders still lose heavily all because we refuse to follow the right trading path.

Where do you get the conclusion that getting a mentor can increase your chances of success in trading by 50%? because I don't think so even though getting a mentor in your trading can increase your chances of success in trading, but it is not certain how many percent, because there are several factors that need to be considered such as the quality of the mentor, market movement factors, trader psychology, and several other factors. So it is not surprising that even though many professional traders open trading classes, only a few of their students can succeed in the market, because it comes back to each individual how they can apply the knowledge they get and develop it and many other factors that can make someone successful in the market.

Dewi Aries

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Honestly, I have never had a mentor since the beginning I learned everything by myself and autodidactically, at first I didn't know that being involved in trading was more advisable to have a mentor first so that the chances of success were greater but as time went by of course I also knew that, but in the end I preferred to learn by myself autodidactically for a reason.

In six months I have managed to master several strategies that have an accuracy rate of around 80% and the only problem is mental and psychological control which I think takes much longer to adapt to the various tensions and doubts when I want to open a position or after experiencing a loss. On the other hand, yes I follow my instincts but more precisely I follow all the knowledge that I have gained in every situation that I have ever learned, but apart from all that, yes I also agree that it is better to have a mentor from the start because that way you shouldn't experience a lot of delays and lose a lot of money due to carelessness that shouldn't happen when you have a mentor.

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Quote from: Odusko on December 19, 2024, 09:22:30 AM

One of the popular alternative sources of income for cryptocurrency enthusiasts and forum members is trading, trading requires skills and these skills come with a long time of practice which gives birth to mentorship in cryptocurrency trading, most of us believe and agree that having a mentor in trading increases your chances of success by 50%, but the problem is that most of us traders still lose heavily all because we refuse to follow the right trading path.

What do you do and what is your success recorded, do you follow your mentor's guidelines and advice?

Do you follow your instincts and if yes what are the results you got in terms of the profits ratio against the loss ratio?

I follow more then one mentors and make a list of tokens they suggested, their targets and watchse their even 2 hours long live videos to know why they think this token or BTC is going to pump or dump, and mainly I try to analyze which things they check to consider one token as good investment.

I sometimes wrote them too with the coins, along entries and exits. Then using my own knowledge I draw some lines on charts haha, and after shortlisting some tokens from the list I invest. Till now the method suits me best, I don't even sometimes follow mentors, and sometimes I pick coins from other than mentors as well. I add them to list, do my own analysis and if the coin is good I will have it in the next dip.

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Quote from: Z_MBFM on December 20, 2024, 12:42:57 PM

First of all I did not learn trading with the help of a mentor. I have been involved in crypto for a long time and I learned trading by my own efforts but I occasionally talked to some experts and took some ideas from there and developed my own strategies. But even if I can trade sometimes without advice from experts and research their strategies and invest I can make fairly good profits on average. so I think no matter how expert one is in trading one should consult with someone more expert at times

I think your one is exceptional and yes I also do agree that people can have the skills of the trading without having the mentors and also they can have good profit on average but in most case to came up on this positions most of the peoples tooks lots of time and also the lots of losses in the trading journey.

And in this point I think a people who really want to do trading and build career on it they should have the mentors to know the key factor, the hacks on trading learning these can speed up your learning process and also will keep side from the losses. I also didn't have any mentors in trading and still I gain 70%+ profit in this season by long-term trading but still I will say those should have mentor who really want to build career on trading.

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Does it mean following our mentor guidelines ensure our trading success? I don't think so. Mentors also commit mistakes in trading, hence even if we follow them, there's no full guarantee that we will be in profits. Success lies within the trader itself, not on the mentor.

Following instinct could only serve a distraction. Instead, follow what you think is right and what you think will work in trading. Follow what have you learned from your mistakes and losses, not from what your instinct tells you.

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Quote from: Odusko on December 19, 2024, 09:22:30 AM

What do you do and what is your success recorded, do you follow your mentor's guidelines and advice?

Follow the guidelines from your mentor and their advice/strategy until you are able to understand and observe some little patterns and deviations to make their strategy or guideline even better suited for yourself. The end goal of every trader is to make profits, and if you are profiting after tweaking some of the guidelines given by your mentor to your personal understanding and, for your ease, you will still be a successful trader that your mentor will be proud of because you matured from not having the mind of your own to having a mind of your own.

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Quote from: Odusko on December 19, 2024, 09:22:30 AM

What do you do and what is your success recorded, do you follow your mentor's guidelines and advice?

Do you follow your instincts and if yes what are the results you got in terms of the profits ratio against the loss ratio?

Having a mentor when trading can help you avoid common trading mistakes or traps and learn new skills and strategies. But that's just information and knowledge. After that I follow my own heart when making decisions in trading. Indeed, trading is not always profitable, sometimes you experience losses but you learn from those mistakes so you can become a good trader.

Because for me, trading is like driving a private car and passing through different terrain for each driver who has his own skills, the point is trading cannot be passed on to other traders. So following a mentor is not the right choice. The important thing is that you have to know when trading, the enemy in trading is actually the mind that wants to get rich quickly, that's what covers a clear mind in reading the market.

Z_MBFM

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Quote from: Odusko on December 19, 2024, 09:22:30 AM

One of the popular alternative sources of income for cryptocurrency enthusiasts and forum members is trading, trading requires skills and these skills come with a long time of practice which gives birth to mentorship in cryptocurrency trading, most of us believe and agree that having a mentor in trading increases your chances of success by 50%, but the problem is that most of us traders still lose heavily all because we refuse to follow the right trading path.

What do you do and what is your success recorded, do you follow your mentor's guidelines and advice?

Do you follow your instincts and if yes what are the results you got in terms of the profits ratio against the loss ratio?

First of all I did not learn trading with the help of a mentor. I have been involved in crypto for a long time and I learned trading by my own efforts but I occasionally talked to some experts and took some ideas from there and developed my own strategies. But even if I can trade sometimes without advice from experts and research their strategies and invest I can make fairly good profits on average. so I think no matter how expert one is in trading one should consult with someone more expert at times

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I don't think most of the crypto traders have mentors for two reasons . One is because this is the field dominated by small scale traders who do this with few thousand dollars at maximum and the second one is the crypto trading field is fairly new compared to the traditional way of trading assets so the mentors will have no better understanding other than the basic of trading.

And also I don't think having one is not going to increase the success by 50% that's just an assumption that we say to ourselves.

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I don't have any mentor in trading and I am into spot trading. It's stressful and messes with my emotions which made me to give up on it after some losses. It's not everyone that claims to be a good trader that knows how to trade, which makes it hard to see a good mentor. I have stopped trading currently, and I am only investing and hodli for the future, so that I don't regret my actions.

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Quote from: Odusko on December 19, 2024, 09:22:30 AM

One of the popular alternative sources of income for cryptocurrency enthusiasts and forum members is trading, trading requires skills and these skills come with a long time of practice which gives birth to mentorship in cryptocurrency trading, most of us believe and agree that having a mentor in trading increases your chances of success by 50%, but the problem is that most of us traders still lose heavily all because we refuse to follow the right trading path.

What do you do and what is your success recorded, do you follow your mentor's guidelines and advice?

Do you follow your instincts and if yes what are the results you got in terms of the profits ratio against the loss ratio?

When it comes on learning trading then it will really be that up to you whether you will really be needing a mentor or not. We do know that there are individuals who are really that good when it comes on making up some research on the things that they are dealing into. When it comes to trading then it will really be that up to you on which path you would really be taking whether you do need a mentor or not. You will be needing up to have that kind of adjustment on which it will be according into your preference because not all with be having that the same sentiment and views or actions towards trading. Having a mentor isnt really that bad as long you do see its relevance on the moment or time that you do deal up with trading.

Actually everything will really be that depending into your effort because when it comes to trading then this is something that you can be able to learn on your own. If you arent that good when it comes on learning path then this is the moment that you will be needing up to consider on getting a mentor on which it could be free or something need to pay. Its important that you should follow on where you do find yourself be able to have that kind of benefit or you do make up that learning having progress.

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I’m actually self-taught in trading, and I don’t insist following instinct either. Because for sure it will only lead to emotional bias if I chose to trade with different emotions that could only result into wrong decision making.

However, if you already gained a good experience in trading, have developed risk management and technical analysis, following your instinct is never bad at all. Because your learning experiences will eventually processed in your instinct, thus having your instinct this time will turn reliable and useful when trading.

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Quote from: tvplus006 on December 19, 2024, 04:46:29 PM

Quote from: Odusko on December 19, 2024, 09:22:30 AM

...What do you do and what is your success recorded, do you follow your mentor's guidelines and advice?...

I'm interested in who do you consider the mentor? Obviously, this is the admin of some anonymous telegram channel that publishes trading signals and which gives you advice on how you should trade. The reality for me is that there are few who can afford real mentoring from a profit trader, as it costs too much. And what is offered cheaply or for free is a hack.

And to think that you’re still not profiting from trading, it would mean spending your hard-earned money only to be mentored by a professional one. That is quite taking another risk. This is why I don’t consider getting a mentor since I can always find ways to learn on my own. What’s the use of trading demos and tutorials in the internet? I know learning takes time and sometimes learning can be in a hard way, but with real passion about trading, everything can be managed in the end.

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Quote from: Odusko on December 19, 2024, 09:22:30 AM

What do you do and what is your success recorded, do you follow your mentor's guidelines and advice?

Do you follow your instincts and if yes what are the results you got in terms of the profits ratio against the loss ratio?

I don't have any mentor but I did learn some strategy from videos I watched on YouTube, plus some strategies I learned from other traders in my place, I do make profit from trading every week and I can say that my success rate is good but some weeks is not usually good not because I don't make success but because I also allow my emotions to take the deepest part of me which can contribute to lose. Having a mentor is good because since the person is more experienced than you, they can help to guide you when you are going wrong, they can help you stay in tracks when you are deviating from self discipline.

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Actually I don't have a trading mentor, there are some good analysts that I follow on Telegram and I see their analysis and take their advice sometimes but not all the time.

In general I follow my basic instincts in trading, I don't rely on technical analysis but on fundamental analysis based on my experiences and expertise in the market and some news and analysis from here and there, as for the results, they were bad at the beginning but they are constantly improving with time and gaining more experience.

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Quote from: Odusko on December 19, 2024, 09:22:30 AM

What do you do and what is your success recorded, do you follow your mentor's guidelines and advice?

Do you follow your instincts and if yes what are the results you got in terms of the profits ratio against the loss ratio?

Having a mentor gave me a boost rate of about %65 in my trading journey. And not just any mentor mate, you need someone who has made it real time from trading the market and has the ability to understand different market situation. This way, you learn from them what took them years to uncover on their own. Trading is about experience. And even after learning from a good mentor, you still have to put what you learnt from them into practice and see how it works I'm the market. Remember it's a marathon not a sprint, you can never learn the art of trading in one day..

Topic: Do you follow your mentor guidelines or do you follow your lust? - page 4. (Read 900 times)