Topic: Do you follow your mentor guidelines or do you follow your lust? (Read 356 times)

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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 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.

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.

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.

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.

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.

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.

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.

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..

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.

It makes no sense to have a mentor if we don't have a plan to follow what they advise. Indeed, most of us fail because we make our own discoveries instead of having those tested and proven strategies that our mentors are saying. We just do this when we are alone, but while we still have our mentors, we pay respect to them and follow. 

I used my instincts quite sometimes but it was just 50/50.lol
The results look like a roller coaster depending on the market condition.

If I don't know what I am doing and I trust my mentor regarding on his decision making for sure that I will follow all the advice he give to me. Since following your lust for wanting to earn more will provably give us bad result. Since its like we are doing something crazy which is not actually part of our plans.

So far doing good on my past trades way back few years before for listening to good people around. But right now I'm not doing any trades and just decide to HODL especially with Bitcoin.

Yes I follow my instinct to, that's why we also need to verify each information we receive since this is how we became more better trader or investor.

Do you mean copy trading or learn more trading skills, listening to advice is one thing and copying a trading plan is another.
For now the best thing to do is to invest as trading may give less profits compared to Bitcoin.

I have no mentor and what I do to keep winning is just following the right trading path, the only thing that holds me back is that I don't really want to trade with big margin as part of my risk management but also hardly making me big profit in one go but I'm already content anyway.

I can say that my win rate is pretty good, though scattered across various exchange so I can't summarize but I've been doing pretty well, the thing that help me stay profitable is risk management and only trading when risk is at low level and what I mean by that is, if sudden dump occurs like BTC going down from $102k to $92k suddenly, i will open long position, wait for the market to go back up again and take my profit. there's a catch though, such event doesn't happen too often so you'd trade probably 2-3x a week, but I can assure you that everytime that happens and you happen to ride the train, you'd profit good.

I always do that and getting profit is easy. there's sometime when price just keep tanking and I got my SL triggered but it's just small loss, after all the essence of trading is profitting big and limit lose.

The combination of both guidance and personal approach is somewhat key to at least staying with reality and increasing your success rate in gambling because there are times that your mentor can be wrong in their analysis so in those times, relying on your approach and skills can give you an edge over the mentors own decisions, I know trading have to do with a lot of technical knowledge more than it is a guess work like gambling, so having a combination of knowledge and applying them can serve more than just relying on one-sided knowledge in my view of things right now trading requires both mentors and personal input for success to be recorded.

I believe trading success depends on finding the right balance between following proven guidance and learning to trust your own instincts over time through experience. In my case, I don’t have a mentor so I just follow my lust. I usually trade only when I need to spend. I carefully assess altcoin opportunities knowing the risks involved with high manipulation and sudden price changes.

For me, instincts and personal research play a big role especially when it comes to market analysis and timing. I think the key lies in discipline, constant learning, and managing emotions during trades.

It's not popular alternative source of income for all people, because the market is zero-sum game market and money flows from you to other people or oppositely. In other words, money in the market changes hands from losers to winners and most of traders are losers so trading is not a common source of income. With most of traders, trading is source of loss, a common loss.

You can find a mentor, follow his guides but it's your capital and you have to protect it. Your mentor can be wrong too, no trader can be right 100% and with all trades. You have to manage capital and risk so that somehow you won't lose big part of capital with one or two failed trading positions.

Trading is not gambling, and not kind of instinct-lead activity. You need to have knowledge, experience and discipline for trading successfully.

It is not really compulsory that a trader follows his mentor's teachings strictly. Maybe he can follow them strictly during his newbie days, but as time goes by, he may begin to understand what strategies works best for him and the ones he should adjust to suit his risks tolerance and personal preferences. This he can achieve through some personal experiments.

 Even though mentors have years of experience in the the field, some of them are definitely not always right. Some mentors too cannot be trusted. They are only interested in the money they will get from the mentees, so they might end up being reluctant to teach their mentees what they should know. At this point, any newbie that follows these kinds of mentors strictly is not ready for improvement. I always advice that traders also do their own research and ask questions if their findings do not align with that of their mentors instead of following their mentors blindly.

Those are not two different stuff, you can sometimes follow the guidelines, and sometimes follow your own greed. Doesn't mean that you have to pick one or the other for 100% of the time, it doesn't even mean that you can't follow more than one guideline from multiple mentors as well.

Honestly, there aren't that many great mentors in the crypto world because most of them have no idea what they are even doing, but at the end of the day we are dealing with making a better profit for ourselves so if you can find any decent ones then caring about what they say would be very important, just make sure they are actually a good mentor and not just some bad mentor acting like they are a good mentor because there are a lot of those too.

I don't have a mentor at the moment and prefer to be that way, but in the beginning of trading I trusted someone I knew online to be a mentor without being in person and I followed every direction he mentioned in the group and it worked, unfortunately the crypto market is very different now so the strategies he used before no longer work. Having a mentor is good for those who still have little trading skills.


Using instinct in trading looks like gambling

I trade on my own analysis, I never trade on someone else's analysis. I have seen that the times I have traded on someone else's advice, I have not gotten very good results. When I have traded on someone else's advice and have not gotten good results in that trading, I have had a lot of difficulty accepting myself. Therefore, I should always prioritize myself while trading because if you can trade with good analysis on your own, you can gain good experience and skills and even if you lose, it is not difficult to adapt to yourself.

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.

I had a mentor when I was still learning how to trade and he sometimes still checks up on me. My mentor started as a teacher as he was the one teaching me on how to trade but he changed and started to mentor me when his service to me was exhausted as a teacher and he also said he loved my learning progress and wanted to see me succeed. Listening to our mentors can help us alot and following their guidance is going to help us then following our lust. We are new to the market when we start trading newly therefore we need somebody that has being their before to guide us to prevent making mistakes that can be avoided with the right guidance. Having a mentor will make things easier for you and you would not lose much.

Paying for a mentor and then failing to follow on their teachings is contradictory, as if the trading student was to do that, they might as well save themselves that money, learn on their own and trade based on what they learned, since in this case you are saving yourself the mentor fee, which can be quite high, as I have seen mentors charging thousands of dollars for a conference with hundreds of people, so I cannot even imagine how much they would charge for personalized classes.

It's pricey to get a professional mentor, so I've no choice but to learn on my own. And I think that creates more advantage to me since I have to be more focused and determined so I can learn trading the way it should be. While most often I end up trading not successful, but that motivates me even more to be more knowledgeable and skillful in trading.

However, talking about instinct when trading, I certainly do trading considering my instinct. That made me even more mindful of my own mistakes and learn from them, until I started trading having good market analysis while making assessment of my instinct if it's going to be profitable or not.

You know it's useless if you hire a mentor but fail to follow its teachings and advices. You have to pay its mentorship, so you have to strictly follow his methods and suggestions for you to be guided.

However, trading with a mentor cannot still guarantee sure profitability. Although there would be higher rate of success, but sometimes there are sudden factors that will influence the market, thus making your trade not favored by the market. And if ask if I am trading following my instinct, I hate to admit but yes. That's why I trade with my emotions on it, reason why I mostly fail in my trades.

I have traded an altcoins this year that increased in price more than 5 times and I went for short position which caused liquidation. Not just a coin but there are other altcoins that I traded caused such liquidation. But I know all this. My maximum amount of money on trading account is not more $250 which I consider losing all as my stop loss. Generally I still trade altcoins and make money from them despite the manipulation. But not good for new traders.

You are not the only one who started their trading journey without a mentor and they are still doing very well in their trading approaches, choosing Bitcoin are your sole trading per will minimize your losses as against your winnings, but what we should avoid is trading altcoins, doing that is same as gambling that regardless of either the trading position is long or short, you can hit liquidation at ASAP time-space because of the high market manipulation in altcoins with high pump and dump activities.
Following your instincts builds your experience and skills over time and also helps you with time knowledge to base your trading analysis on which can give you more frequent profits than the losing ratio.

I agree with you that having a mentor is key but it doesn’t contribute to that much of your success to me, one thing is having a mentor gives you access to some information faster and better, this fasten your learning but sometimes having this knowledge isn’t enough to get the success it sometimes plays as little as 20% to success. What makes you carve your success is how much you use this information and how you practice with it.

There are many today who most especially follow their mentor’s trading plan but I will say this set of people are hardly that much profitable because they are sticking to something that wasn’t backtested by them, for me I have this believe that if you don’t carve out your trading strategy yourself you will be less profitable because in the process of drafting your own strategy you will fail and Learn more from those losses.

Yes I follow my instincts as it is part of my psychology, some of them is not entering a trade less than 1:3, others like leaving trades till they tp and not break even but rather lock profits instead. I believe if you have your own plan it will help in building your psychology if you learn to stick with them

Both no. My trading depends on when I need money; I mean, I only trade Bitcoin when I need to convert it to fiat or other cryptocurrencies because I have to. But in natural trading, of course, both can't avoid following your instinct that this crypto might go up. Just accept whether you lose or win in trading cryptocurrency. That's how it is sometimes you lose, sometimes you win in trading cryptocurrency.

I have no mentor. I was losing more than winning before but which is different now. I win more than lose but I trade altcoins which I think more of gambling than bitcoin. If not because I traded bitcoin yesterday which I have not traded for long, I do not have losses recently than th bitcoin trading. I open long but the market fall instead.

Yes I follow my instinct but not all the time. I make analyses to trade.

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?