Topic: The Importance of Having a Trading Mentor - page 6. (Read 1527 times)

A good mentor or a professional mentor?
I would say that to choose a mentor is not only about how good they are, but also whether they are professional and master trading knowledge or not.

If as a mentor you do not master trading knowledge and are not a professional trader, then there are still doubts about his expertise.
There are many mentors who provide services to teach people how to trade, but it needs good and convincing evidence and trading portfolios.

All forms of discipline and skills that will be honed, have been planned by the mentor and the mentor is tasked with doing all that.
So as a beginner, or those who already know how trading works will know better what to do.

But some people also trade on their own, without a mentor, and only learn from videos and articles that discuss trading matters.
What is needed is also theory and direct practice, without practice, there will be no real results.

Trading mentors are important in our life because they help us to avoid mistakes but be careful with you mentors before you think that you are learning from them but what you're doing is to copy that which isn't very good for you because you'll not be learning how to trade but only copying their trading. Until you let go of the mentor, that's when you'll know that you weren't learning anything but was just copying them. Having a good trading mentor will make you to learn trading with a quick speed and you're going to avoid many mistakes that people without any experience guidance are making. Trading mentors can be gotten from online as they don't have to be physical since we're in a time that things can be learnt from anywhere you're in the world. You can too learn without having a mentor hence you shouldn't stop when you don't have a mentor to help you out.

A mentor will be effective for you only if the mentor has enough experience in trading, and the trader can use the knowledge gained from the mentor effectively. There will be losses and gains in trading. There are many traders who have repeatedly lost funds but they did not give up, at one time they were actually successful. So my point is to find a mentor who will show a trader the right path, the mentor will not always be there but his shared experiences can bring a lot to a trader. So that a trader can build his position in the market.

That's right. Having a trading mentor can help us learn faster and most likely make us make fewer mistakes in trading. Because with a mentor we can learn new skills and techniques, avoid mistakes, have motivation and be responsible.

However, having a mentor also does not guarantee that we will succeed in trading, we still have to do our own research, verify our own trading because basically trading styles and strategies will definitely be different. So it's true as you said, having a mentor is good, but even without a mentor you can also become a successful trader as long as we continue to learn from various sources and have high self-confidence which is also important in trading so that when making decisions we do not hesitate.

In addition, it is difficult to find a really good mentor, because we and the mentor must have the same vision to truly achieve success in trading. Trading does provide extraordinary possibilities for many people, but the main thing in trading is that we must have skills and discipline because with this challenge we can actually achieve success in trading.

There are people whom do really think that there would really be those people who are far more knowledgeable and they could be able to reach out those fellas if they would gonna pay up something. The main thing that
comes up into their mind that these professionals are far more advanced or ahead when it comes to knowledge in compared to those who are offering some free tips and analysis online on which it is really just that a BS
thing if you would really be thinking up this way. Its true that we can actually learn up things in free of charge yet there are really groups that providing out some free analysis on which you could make use of if you are really that wanting up to learn more. Its not really necessary to spend up money to learn something. Everything would really be just that according into the effort and time be spend up by a certain individual towards it because we know that not all would be having that kind of dedication on doing that and thats why they would be doing things on money ways.

This is something that a certain person should really be that putting up that focus on or something that talks about having the sense on which having a mentor doesnt mean that you would be able to have
that less losing situation on which same as you said. Losing is inevitable no matter how good it would be. It all matters about risks management and this is something that will really differ out on each person.
If it turns out that someone do make out some boast about being a high profitable trader then it is really just that mostly a scam. If they were profitable in the first place then
they wont be wasting up their time on having their followers or students just for a dime.

Having a trading mentor doesn't mean that the trader will not experience losses. Like the example you have given, I also have a friend, he is a forex trader and according to how he explained to me, after he was done learning from his mentor, he funded his account $200 and after he has tried to increase the money to $300+ after a few successful trade, he was tempted to trade on a Sunday Morning and he lost all the money.  Despite that he had a mentor but yet he busted a $300k account. A mentor can stand as a guidance but can not be with you all the time and can not stop lose from coming to the trader.

Well, I don't have any experience in having a mentor when it comes to crypto trading, but one thing is for sure, having a mentor would only increase your chances of making profits, but it isn't guaranteed that you will make profits still.

While having a mentor isn't recommended, I believe it would still be a big help in the journey of a newbie in becoming a successful trader. The problem though is that, these mentors aren't free, and most of the aspiring newbies might not even afford to have one. While it's true that most of the information can be seen online, there's one thing that the internet can't teach us and that's self-control, and maybe, just maybe these mentors might help you on that aspect.

Overall, mentors are a big help for a newbie still despite all of the information being posted publicly online already.

Yes of course that's true, meaning if there is something free then why should we take the option that requires us to spend money? That's simple but there may still be some exceptions, such as when there is a special lesson from mentors that you don't find on all internet services. That means I think there's nothing wrong with doing research first, in the sense of asking about what learning you will get from a mentor and then comparing it with the facilities provided by the internet such as the AI ​​you mentioned, if it turns out that you don't find many of the things you need on the internet media and you only get it from a mentor then clearly the decision is that you have no choice but to choose guidance from mentors by spending some money to pay them, but if otherwise then I think you already know which option you should choose.

It's good to have some guidance because that will enable us to focus on structured data and analyse and enhance our skills rapidly.
But at the same time, it doesn't mean we need to go pay thos so called experts to get the guidance we require.
In today's world, internet already has so many things available for free that one doesn't need to pay for those things.
Using AI, we are able to get whatever information we need for free and also get the guidance in structured format.

Basically the difference i see with this is mainly in the fact that you are slower doing it all alone than with a mentor who holds your hand and walks you through the process such that you don't have to make some mistakes because they are such that they have got experience with and are going to help you avoid it at the time you come to face them in your course of study as a trader but then this doesn't eliminates the fact that you can be able to do it all alone but it may just be slower than you would have if you are trading along side a mentor helping you through.

An experienced trader will tell for free that the emotional aspect of trading is somethin that you can never be able to learn from a mentor alone, they may only guide you but you experiencing it directly helps you get it even better than you would if you had to wait to follow a mentors guide because when your money is involved, you are goin to have a whole total feel both while winning or loosing. discipline and personal emotional management is that which you are going to need to help you the most in cases as this.

That is why I say that it is better if you have a friend that understand how to trade better so you can ask him and learn from him. But although he can teach us about trading, we should search for the other lesson to improve our skills. We can not rely on him every time we trade becuse he will not have the same schedule to trade with us.

I don't want to pay any money to the tutorship because we have many good sources about trading and we can find that from internet. Besides that, they use an expensive fees for those who want to learn with them which I am not agree with that. I prefer to learn by myself and with my friends because they don't asks for the fees especially when we profit from trading.

Joining with trading community can be a solution but that will be crowded to learn the lesson. But that is okay because we can get something to start to learn.

This is not only in trading but also in other marketplaces. I want to tell you about a trend that happened in my country from 2018 to 2020. People started to learn SEO and Graphics design from YouTube and created their gigs on the marketplace; as soon as they complete their first order on fiverr, they launched their own tutorial about how to make money online.

We call them "Tabiz seller" locally. These people try to be a mentor and teach others how to work on marketplace while they did not managed to complete at least five orders. In my country, it is more profitable to launch training courses than working on marketplace. So, be aware of mentors. Check their own work.

I don’t know who is going to share all their knowledge for free and hold your hand through the process of becoming a successful trader. You can learn the basics from YouTube videos but for more personalized mentorship you will probably have to spend some money. I would rather invest that money in trading and learn things on my own. Any kind of helpful advice is appreciated but I’m just not willing to spend an arm and a leg to get it.

You are right. But you know what hiring a trading mentor is expensive, and if you are still tight in your budget, you will find it hard to get a mentor even if you really want to. That’s mostly the reason why a lot of aspiring traders are inexperienced, having less knowledge and skills in trading. And a lot of them lose at the very beginning, so it’s not surprising really.

However, learning on your own with trading is never a bad idea. Because when there’s a will, there’s a way. Although there will be a lot of pressures and risks at first, but we all know everything can be learned no matter how difficult trading is. The only key here is consistency with your motivation and desires in learning, and not being weak that will easily fall on temptations and end up losing your funds, because you follow what your emotions tell you rather than sticking to what your mind says on what will be the proper thing to do.

Having a mentor is good, but without having a mentor is not bad also. In fact, that will create a big challenge on your part learning the risky and complicated world of trading all by yourself. And it’s not actually impossible, as long as you have the passion and motivation to learn the hard way, and you have the patience all throughout the process, then most likely you will be successful on your trading journey. Trading is not all about having a trading mentor that you can rely on, but somehow it’s all about having enough confidence that will boost yourself to do it all alone.

While it is true that having a mentor will help you to accelerate and avoid more mistakes. Most of the mentors nowadays that are genuine are hard to find. If you go out in social media trying to find one, you'll have hard time finding a legit one because these paid gurus and mentors doesn't really have any solid trading experience. Unlike the genuine mentors, they trade for a living but those that we're seeing, they teach trading and earn a living from it.

That's many resources are there for free and all you have to do is to take your time and spend it wisely by learning it. And it's up to you as an aspiring trader whether you'll feed yourself with all of the knowledge that you'll be taking from there or because they're for free, you won't feel obliged to read and finish all of those resources you'd feel valuable if they're paid. These paid mentors are making their students cash cows and based on the feed backs that I've read, they're not worth it.

Finding a good trading mentor is also difficult because if a mentor is not knowledgeable enough then following that mentor can backfire. Because I saw a friend of mine very confidently started trading with a mentor but he saw very bad results that caused him huge losses. So if a good mentor is not available then you have to start acquiring trading knowledge on your own so that you can make yourself an experienced trader. Trading is actually not a very easy task, it requires a lot of experience and knowledge So if you develop your skills without blindly trusting someone, then you will be able to check the instructions given by others.

Imo, you do need a mentor for almost every endeavor in life. You do need someone to look up to in order to improve yourself to be on par on or even better than the mentor because you won't know what success is like until you see someone who is successful and learn from their ways. In trading too, it is very necessary especially when you start making lines on a chart, you need someone who has seen most it and still survived through whether the market was good or bad. That's where the concept pf mentorship in the trading space started amd it has been heavily abused in recent times.

It is good you know this now and took your time to share this valuable experience with newbies, it will help them make the right choice at the early stages before things get sour for them and realise what they should have done from the start.


Having a mentor can only help to accelerate your learning process and make you reach your target goal faster. Having a mentor doesn’t mean you’ll be successful at trading, you have to also put in your efforts to go extra mile to learn what your mentor have thought you in order to be more successful at trading. Mentor will teach you everything but they can’t teach you about emotions in trading, you’ll have to learn that yourself.

You can have a mentor when you are newly starting your trading journey and you can stick with your mentor until you are sure that you have become fully experience to stand on your own. Sometimes too, some persons might not really have a mentor that they can meet face to face with because they're learning from some trading materials and online tutorials, so it becomes difficult for them too.