Topic: Importance of a mentor, teacher or guide to a beginner trader. - page 2. (Read 1344 times)

I don't see anything wrong about having a teacher as new person. I believe a new person who understand nothing about trading will have zero clue about charting system even though he understands about the techniques behind the fundamentals of making trades, it's better to learn from who understand like subscribing to YouTube videos and Udemy course, these are the best I know that are good platform for learning trading and other master classes.

However, what I don't enjoy about people learning from other people is when they stay glue to one person for one information. You can't learn everything from one person, maybe another thing but there are somethings I learn randomly online on some telegram trading groups, not a trading signal just random place where people share opinions and I'm not even a member, it's a public channel and anyone can view, I view the things I like but dislike been a member because of any other potential dms that may end as a scams. There is knowledge everywhere about anything.

That is in line with the process that we are doing and if prepared properly, the results will be much more satisfying. Trading can be learned but does not provide certainty to continue to make a profit because people who are experienced and have the best abilities in it also experience losses at certain times. The importance of a mentor so that we can understand the impact and risk much better because they have much better experience than us so that with them it will be much easier for us to recognize. Trading cannot always provide benefits and this is where a strong mentality is needed so that we do not get caught up in trading using the wrong pattern.

You either do it responsibly - or you are at a very high chance of risking the bigger part of your depo on something not worthwhile.
I agree with the points you presented because each one of us on the market is different, yet each seeks good PNL and knowledge.

Yes, that's right. All traders have experienced mistakes in trading, both in making decisions and in implementing strategies. However, traders who can survive long in the market are those who are willing to learn and take lessons from these mistakes. Trading is something complicated and full of risks, small mistakes when trading are normal, so when trading, use funds that are ready to lose. This applies to traders who use mentors and those who learn independently.

If you do have a mentor and the strategies presented by the mentor are only for illustrative purposes and are not recommendations or advice for trading. Because all forms of trading have significant risks, and no trading strategy can guarantee profits or avoid losses. Independent research is also very necessary so that we depend on others. Therefore, you must consider your trading goals, risk tolerance, and financial condition before deciding to trade.

Doing things wrong sometimes is part of the journey.
Not learning from the mistakes made - that would be an issue.
So, people should never underestimate the market, and their confidence should come solely from the metrics and facts, not their guts.

If they keep relying on other people and don't do extra efforts to learn more about it then I can say that they don't have any future about it especially if they rely only on their mentors.

Many people struggles its because they don't pay much attention on their growth, what only thing they do is to learn the basic then trade because they think trading is easy. That's why many of them having the same mindset fail its because they are lazy to explore many things which is potentially helpful to them and they choose to be lazy that's why when they experience bad trades they easily quit and think about not coming back doing trades again.

A good advice indeed, but I still will say that it depends on the individual and his or her IQ level.. Let me start by tell you that I never did get any mentor as a newbie when I started out in crypto, in fact, someone who actually was supposed to be my mentor actually lead me into investing in a crypto project/ico that later turned into a scam, and since then, he vanished, his phone line was no longer going through, when i text him on telegram, he will never respond even after I see that he has read my text..

At a point, I completely ignored him and continued on my own, yes of course, I made a lot of mistakes, but one wisdom God gave me was that in that initial times, I was always trying things I wasn't sure of with a very little amount of money, an amount that if I lost, I won't feel or regret it..
I start trading with just $5, then on poloniex, it took me over 30 days before I could turn the $5 into $10, and by this time, I was beginning to understand how trading works, there was no mentor or teacher any where, all that I learnt, I did on my own, I made sure to always research, read and comprehend before taking any action, that helped to minimize the mistakes I made, and also helped me learn much faster.

So, even without a mentor, or teacher or who so ever, one with zeal and high intelligence, can still learn to trade and invest on their own, not without making some mistakes maybe, but then, all mistakes turns into a lesson, and only a very stupid person will put alot of money into something he or she is not sure of how it's done.

That’s exactly what I’d say—because no one can make us stronger or more knowledgeable than trusting ourselves. We need to believe that we can even become better traders than our mentors if we’re willing to carry our own weight.

But if we’re too afraid of losing money, the dream of becoming a successful trader becomes unlikely. The truth is, many traders quit because they struggle to accept the reality that not every day is a winning day. Some overthink and expect that starting today means earning profits tomorrow, but the reality couldn’t be further from that.

Having a teacher or mentor to start our trading journey is very good but not all novice traders are the same in nature, namely being able to learn from teachers because there are also people who prefer to learn independently, either by reading books or through other sources on the internet but they will not be tied to time where they have to follow the schedule of the teacher or mentor to learn, even people who are usually self-taught will feel pressured when forced to learn with a teacher, but it would be very good to have a discussion partner in trading so that it can be used as an evaluation material regarding the progress of our skills.

This is so true, a lot of people do very well PR of their course, but when you get into the course itself you realize that it's a nothing at all, and you end up leaving sad. I have purchased so many courses back when I was a newbie, and I could make much better so there is no way that we could consider this as a big deal because we can make much better now and that's the most important part.

I hope to see that we could make a much better return in our investment with time and courses will not be all that much impactful for us, it's not that possible to keep this going without anything else. Hopefully, it will not be that cool, it will take a while, and for that reason we could see much better results and could get greater profits.

Usually people will really be easily believing that there are some holy grail method on which it does give out that kind of assurance that they could make money or profits on doing trading. Usually newbie traders are the ones who do get hooked up with these kind of claims on which they do really that believe on that it does really work. They will really be that deciding that on following up someone just because of those kind of claims and due to lack of knowledge and experience or simply they've been that too lazy on trying out to find out things then they do easily hooked up and believe on what these people been saying or claiming.
Trading skill isnt something that could really be that acquired or able to learn even if it means that you will be having some mentor. As long those mentors are really that not making some assurance and really always that having reminders about this market is really that indeed risky. If you do found yourself having some mentor or someone who do teach you up to fasten up your learning then its not really that bad.
Just make it sure that it wont really be resulting into something which really that leading into that kind of having some assured approach about profitability towards this unpredictable space.

If the course is all about getting a "life change" - a person should drop it.
Period.
Knowledge is the thing people should crave, not a possible scheme or set of actions that would definitely lead to success.
That's not how the market works, for sure.

Wish more people knew about this. I am not denying the existence of any good ones, of course they do exist and I have seen a few that was pretty decent, so I am not saying there are none. But, the "how to get rich" classes that supposedly explain how to get rich are all about making the author or whoever created content richer, that's it.

There are no students getting richer from that, they are not helping anyone out at all, they are just making sure that it's all BS and the only ones who make any money or even sometimes for free, they just gain influence that's it are the content creators. We can't really consider all of this as normal, that's not going to happen and we need to make sure that things are quite safe in the end for us.

The theory about trading is certainly correct, but in real practice it is not exactly the same. Trading knowledge is not always exactly like what we read in books or learn from other sources, obviously this is because the market is not as easy as we think. The market moves dynamically and changes depending on trader behavior, so nothing is certain. Even if we have a mentor, they will probably tell and teach based on experience without guaranteeing profits.

So far I have never relied on mentors in trading, of course not because I don't trust them, but I just prefer to learn on my own and get my own experience with low capital. It's okay to lose some money during the learning process, it's important to build a better mentality.

99.9% of trading lessons are BS and should be avoided.
Pick up a finance book, learn the terms and the rest is nonsense mostly. I would say don't bother.

There's so much BS and make-believe around trading out there that it's not worth even trying. I think you just need finance knowledge because most of these "teachers" haven't even been to a relevant university to be able to teach these terms themselves.

Teach yourself but also don't fall for the delusions that trading will make you rich. Around 90% lose money trading. The big money again had the advantage.

Besides, unless you are completely sure the mentor is on your side, you will not be sure that if what you are taught is in fact correct, after all many people think they can find a good mentor if they are willing to spend a lot of money, but the reality is that the majority of the mentors out there that charge you a lot of money for their services are just scammers, so only a mentor you personally know and that does not charge you for teaching you can be trusted.

I definitely agree with you.
Mentor is not a panacea of sorts for becoming a good trader - it's like vitamins for your organism.
They won't make a jacked-up man out of you, but they surely are appreciated by your body.
In the same vein, a trading mentor is much appreciated by your depo, but it won't make you a good PNL.

If we do it ourselves without guidance - we need to be more cautious.
And manage the risks properly.
That's about it.. With a mentor, it may be a bit easier, but, in any case - be vigilant.

The mentor can be your guiding angel for some time, especially at the start of your journey.
But he sure won't be your guide forever.
You will need to learn to behave on the market yourself as well, totally.

what will differentiate maybe the process of learning to trade. if there is a mentor then there will be someone who will suggest and also warn us if we are going to take the wrong step or more risky. if we learn by ourselves from books or videos that exist, we may not get something like that. so what we can do if we learn to trade by ourselves is to do it more carefully. we can try everything ourselves, even though there is a mentor, I am sure we will not depend on the mentor forever.