Topic: The Importance of Having a Trading Mentor - page 7. (Read 1536 times)

This is the reason why you should be cautious when looking for a trading mentor since not all mentors are profitable, most especially for those self-acclaimed profitable mentors. And when you find one, don't rush into trusting all what he said but observe first, so that you will know if he's actually a real successful mentor or just a fake one.

And the best advice is, don't trade if you are not well ready enough. Mentors cannot guarantee for a successful trade, it's only the trader itself that will carry out the trade and it's on his hands the success of his own trade.

99% of trading mentors out there are scams. Same for stocks. There are so many gurus out there, which show photos of themselves in Lambos and wearing Rolex, but they are pushing so hard to sell a $20/month membership. Why?

If they are making $5-10M a year in trading. Why are they wasting their time selling $20 a month memberships. Even if they get 1000 people to join and stay for an entire year. That is only $20*1000*12=$240,000. And its going to be tons and tons more work dealing with complete noobs in trading. Why not just be happy with the $5-10M out there.

Stay away from any trading guru mentors or courses. They are all scams.

In a risky activity like trading, one who has a mentor might gain an edge in the learning process. Why? Because it will be easier for you to learn having a guidance on your side, and you will have clearer goal why you should pursue trading than just discovering it all by yourself, and you will gain more realistic actions plans that will certainly lead you in making your trades successful. Otherwise, learning trading without a mentor will be hard and stressful on your part.

If you want to get a trading mentor to teach you how to trade because you do not know how to, then that's fine, but if you think getting a trading mentor means you'll start winning in trading all the time, without losing, that is a lie. Now if you are going to pay that trading mentor, then you might be better off learning how to trade yourself, except the mentor can prove that they are a very successful trader, with a lot of successful students.

Having a trading mentor is important for beginners to guide them in their first steps only and then they have to learn to go their own way without anyone's help. Having him in the beginning is very useful but only for a temporary period.

If you want to trade, you must learn to depend on yourself and make your own decisions and follow your own strategy. You must gain experience and skill so that you can trade alone without relying on anyone because the mentor cannot always be by your side.

Thats why it would really be just that important that you do make out some research first about on your mentor whether it does really have a good track when it comes to profitability and also be sure that
those informations that you are really that getting is somewhat legit and not really that faked out specially its really that easy to get someones portfolio and pretending that you are really that a good trader on which
this is something which could really happen. This is why its really that important that you do make out that in depth research first before entrusting yourself into someone when it comes on learning trading.
Yes, it wont really be that simple as it sounds or looks but it would be better that you should be that skeptical into those possible things that could happen around. We do know that nowadays there would really be tons of pretenders just to make money or steal up something when it comes to subs fees. It might really that look impossible but there are really actually those individuals who are really that easily get fooled
and do able to believe into such claims.

I do agree on some points above that having a mentor would really somewhat fasten up the pace but still it will be all depending on how fast you would be able to adopt and absorbed all of those informations that you had get on a certain individual on which we know that not all would really be that good on having that kind of thinking that they could memorize something in a short period of time. Learning will really be also that
basing up on how a certain individual could be able to cope up those trading lessons or sessions even if they do have a mentor. Doesnt matter on which one you would really be taking as long you do
have that kind of target on learning up on trading or simply on being on the same spot.

If that mentor isn’t making his money from trading, then you don’t need to listen to him because he is probably talking out of his ass.

If somebody is going to mentor me financially, he needs to be a financially successful person in the first place.

Would you buy hair growth medicine from a bald guy? :/

Where did you get your mentor though? For sure he or she will charge some money from you to guide obviously. But I guess you weigh it out and so instead of losing that money in trading, you might have decided to pay someone to teach you the ins and outs of it, so good for you.

But it doesn't mean though that you will not entertain losses, if I'm not mistaken. The mentor might mitigate some risk on your end, but still I don't think that you can win 100% or all the time in trading. But there could be others here who become successful trader without mentor. They really just work hard focus on their goal, and yeah they losses money too. However, at the end of the day, it's all about experience and learning from your past mistakes to make them a better trader.

Yes I will confirm that everything you said is true that a beginner is advised to have a mentor when they want to enter the world of trading, you have said some right points where the point is to help a beginner to be more focused, help beginners not to do various actions that should be avoided which leads to the prevention aspect and on the other hand also helps beginners to speed up the learning process.

But of course it does not mean that you have to continue to rely on your mentor, you also need to learn new things yourself and learn to evaluate every mistake you make that causes losses, because after all a mentor only guides and directs you in the early stages of introduction. The point is to make yourself always want to work hard in learning and train your own mental and psychological, because usually for mental and psychological problems only yourself can manage and balance them.

Having a mentor is good as you will learn faster with the process, some people to learn about trading use a mentor or hire one for beginners to understand.
But never be told to trade something altcoin directed by the mentor because he will not be able to stop the loss, still you are to blame because you are too following the mentor what he is talking about.
Unless you choose a mentor only for the learning process and understanding how to read charts, patterns, market trends then there is no problem asking a mentor or anyone else.

Having mentor is good in trading but you don’t follow your mentor blindly because your mentor cannot stop your losses in crypto trading because even your mentor do lose money in trading.
It is very important to also note that, having your basic knowledge and background about Bitcoin, crypto trading will help you in your trading career, then if you have a mentor who can guide you to the success by applying the little knowledge you have will be the most important factor because you can learn several things both in practical aspect, and just as you say, you will be able to limit your emotional decisions that do always lead to losses.

Yeah as others have said, having a mentor is good especially for beginners so it's easier to ask questions than to learn by yourself.

There is nothing wrong with a mentor, when you think he has a good observation in trading then learn from the mentor, but remember they will not for you continue to be profitable in trading, you must have your own way in trading do not continue to follow the mentor what they do.

it is also true that having a mentor will help us in the process of learning trading. Have you got a mentor now? how can you choose a mentor? do you feel the difference in the trading you do before and after you have a mentor?
I hope you share that too and maybe some members who are still learning on their own and are less successful in trading can try to find a mentor to guide them.

there is a reason why some novice traders choose to learn on their own or join a group that discusses trading. that is because it is difficult to find a mentor and maybe there is someone who offers their services to guide. it definitely costs money. something that novice traders might avoid.

When you are new to the trading, having a mentor is ideal because they are serve as a guide with your journey what are the dos and don'ts base on their experience and also you can get a knowledge into them and what are the different techniques and strategies, there are some people having a mentor or seeking a mentor but also there are some others who don't have and become a good trader, it seems having a mentor is a head start for those haven't understand the concept of trading and course its not free so it depends on you if you have the budget and skills. Theres a lot of information in the internet that you can test it out your trading knowledge and also we have paper trades so you can practice now its up to you where is the most convenient part.

I am also a fan of traders having mentors or going for mentorship because it actually helps to fasten your learning as you have someone breaking it down for you easily, but this days the idea of mentorship is usually even more expensive as they charge way too much and the duration for tutorship is usually not that long most at times many traders do not get value of their money. There is even a wide spread spread narrative now that this so call mentorship programs are ways that old traders milk money from the new traders, which is actually bad.

My take is Instead of going for mentorship Alone join community of traders that are active and also attend live sessions of traders that trade same strategy with you. This gives you insight on many things and also sometimes serves as motivation to keep going. But above all of this you need to understand that your personal learning is important and that’s the hardest culture to develop, so exercise learning yourself

That will not easy to have a mentor in trading because you need to find someone that want to teach you everything about trading. But even if you find the mentor, you need to pay him before he start the lesson. That is something that we don't need because we can learn by ourselves with searching on the internet.

Usually, someone learn trading from his friends by asking many things about trading. But they need to learns by themselves from many sources so they can have more knowledge which will helps them to have a better skill. Besides learning trading from that sources, they need to practice the lesson so they can gets the point of the lesson.

The important thing from that is he must have patience to learn trading step by step. Learning trading is like a never end of journey except you quit trading. You must remember that learning trading needs time to have a good skill in trading.

Well, having a mentor is good. But, you should not rely on your mentor guide only, and don't expect your mentor to save you whenever you are going to make some mistakes. Sometimes mentors make mistakes as well. You can lose in trades due to your mentor's mistake. You can always take suggestions from your mentors, but do not apply them blindly. You should do your research before you apply any of your mentors suggestion. Having more than one mentor is good as well. Always discuss things between the mentors.

Beginners do need a mentor, although they don't have to be a special mentor to learn trading. It's okay to make friends a place to ask what and how to do in trading.

For beginners, it is important to make it easier for them to trade as I said above. If your financial condition is not enough to pay for a special mentor, using a platform like YouTube can also be done.
I think traders who are no longer beginners also need other people to ask about things we don't master, such as friends we know who are also trading.

Thats right. But this isnt applicable to outside your circle cause not all will be willimg to teach without anything in return that gives full time and attention on teaching you unless they are your family member and close relative or friend. But all in all, youre right. A mentor would indeed fasten up things on trading. Luckily if you learn without any payment or compensation for the mentor, also doing it alone can cope since you can learn it yourself using materials or resources in the internet.

Did you lose so much already?

But know that mentorship does not mean that you can not still lose in trading. Having a mentor can be very helpful but you also need to help yourself by knowing that trading is very risky like you are gambling. Use the amount of money that you can afford to lose to trade.