Topic: What Reward for a Trading Mentor - page 2. (Read 801 times)

Copy trading is not really the solution as then you will learn nothing and you will depend entirely on the performance of someone else, and while you could do well for a time it is unlikely that success can be sustained for the long term as the trader you are copying begins to suffer losses, then it seems that anyone that would like to become a successful trader has no other option other than to learn on their own and stop trying to find for ways to reduce the time and effort necessary to do this.

As a trader, whether we are aspiring to be a pro trader or just starting our career, it is important for us to have a mentor that would be guiding us on how we need to trade and earn from the market. Traders need to work with people that have good results in the market so that they too can understand and benefits from the market at the same time. Having a mentor is what we need to stay longer with a broad guidance on how to go about our trading career preventing unnecessary pressure and loses that could rise from our selfishness and greediness as a trader.

Percentage of your profit per trade is what typically the common profit sharing to mentor but some mentorship requires upfront payment for service fee aside from the profit sharing.

I’m not sure if there’s really a legit mentorship in crypto since there’s a lot of scammer here that impersonates as professional trader. I highly recommend copy trading instead of hiring mentorship since you can have the same trade activity to professional without string attached and upfront payment. Only the profit sharing which is just minimal percentage. You can be safe this way instead of trusting someone randomly that will jist teach you what to trade.

There alot of gurus and mentors right there saying that most of their trades have a good win rate, some of those known traders created a platform, and seek people who want to learn trading but of course, they need to buy their services as offering, nothing new why there a lot of trading mentor right there that they are saying they are a good mentor, if you have an internet of course tons of youtube tutorial right there and website offering a free lesson, but we have a different way of learning some of them they can do this but some of them must need to have a guidance from other people. So its all about peoples choice how to learn.

I’m not sure but as a good professional trader you have a lot of opportunities. You can join any copy trading exchanges and apply as an elite trader once you have a good track record you will be selected and you can earn rewards. Though for you to be selected you must be exceptional good, exchanges like Bitget will make sure you’re up to standard before you can be selected, which is one of the reasons why Bitget has recorded a lot of success in their copy trading function.

Well I don’t know about anyone else but my experiences with mentors are quite sour , they demand money & yet I don’t get value for it .. I will rather use bots to build my portfolio tbh .. or rather keep using the bitget copy trading till I’ve gained enough knowledge to trade independently

personally i would never find mentors nowadays, quite literally the resource for learning are so many out there that I don't think its really necessariy having mentor, more over learning the unique nature of the market can be done directly even though it might costs something like causing us to lose but regardless i think if someone really eager to find some mentor because they think they can't do better with themselves but thats fine but as you said too many people self proclaiming to be trading gurus even mentor in which instead of gaining knowledge by following them we will lose our capital because really everything they do at this point is with ulterior motive of making themselves rich than their own students.

If the Op really wants a mentor, it’s better he gets someone in his locality that can guide him physically. Not everyone is always able to learn easily by watching videos and reading books, but if there is someone who can teach him offline, then it will be better. According to the Op, he already tried and lost money. He needs someone who can explain how the practical aspects work, so the OP will need someone to teach him the practical aspects, which will be best learned if the Op gets someone close to him. But he should also be careful because there are lots of people claiming to be professional traders, and most of them only know the theory.

It's sort of hard to find a genuine person because even those who are just getting started in the crypto area are pretending to be professionals. However, if the OP can find someone who is truly a professional, then it's going to be of great use to him. It's often better to learn from someone in person than from videos and books you read online, so it's great if the Op can find a qualified mentor.

Sorry about this. Good mentors are hard to find these days. That is why I advise that we do researches on our own so we will not only gain knowledge  but also detect when our supposed mentors are going off track. Having a mentor is not bad at all,  just that fake mentors have outnumbered the real ones, making it difficult for newbies to rely solely  on mentorship alone.

The mentor in my opinion must be someone that you know and that sees you in good light, that way you will know that you are not being deceived by them and being taken advantage of, however if you are the one paying a mentor then it is unlikely you will get the desired results, because as the proverb says ‘Those who can’t do, teach.’ so it is unlikely that someone that takes the time to teach others and charges money for it knows how to trade professionally or they will actually do that instead of becoming a mentor.

You are right because you maybe curious of getting mentor and it landed you into wrong hand, so whoever that is having a mentor should be very careful because I believe that getting a mentor is actually good but the problem is that the mentor does it know the pathway of what you are looking, sometimes with some mentors they drives you to a place that you don't know...so it's good for you to look for it by yourself and be learning online first to have the knowledge of trading before looking for someone you depends on in trading.

With online video through a youtube you will learn some scopes of trading that you don't know and with that you can be able to understand the concepts of trading before soliciting for a mentor, their is something I understand in trading, a continuous practice in trade expand us via the knowledge of trading, this is what we should understand via trading and its concepts the way I understand the method of learning trading.

Trading have advantages and disadvantages and I believe that when you are trading subsequently you understand some certain barriers that is involve in trading you have to skip them because you have already experienced it before, so whosoever that is trading everyday either with small amount of funds or big amount of funds will know and understand the obstacles that's involve in a trading and it will overcome them.

Have paid lot of mentors in the past who never gave me value for what I paid , wasted money on fake mentors .. I will rather use a bot to help me trade while am enhancing my knowledge than have a mentor deceive me again

Yes, having a mentor is a good decision for you. You are open to something like that, and you are willing to hire a mentor. In terms of mentors, you can also consider copy trading on a legitimate copy trading app while you are still learning, or you could enrol in a trading class that would be a good option, or if you don't want to pay, then there's YouTube, where you can watch or read blogs in order to gather enough knowledge and skills to efficiently trade and earn. In terms of reward, you can give a percentage of your profit for every trade you and your mentor make. In that way, you will have a fixed amount of reward, and it will also prevent conflict between you and your mentor. But of course, be careful. It's better to hire a mentor who's close to you, like a friend, colleague, or family member.

Professional traders like Brian Beamish offer mentoring as well as courses where you learn the trading craft. Have you ever thought about booking such courses? Some lessons are also available for free (or on Youtube *cough*), so you could get a picture of him and his learning methods.

I personally haven't booked the course, but I follow him on Twitter/X. This is him: https://twitter.com/CRInvestor

Would really be just that a complete waste of money if you are really that tending on paying up on something which you could actually get for free. There really just that people who doesnt really like on hassling themselves on making some research or doing the hard work and this is why they dont really mind on paying up someone if ever they would be able to do so or get on what they do want.Everyone does really like on that fast pace kind of learning on which this is really that a normal but this is where things turns out to be a mess on which you would really be rushing up things without even minding on whats the real essence of trading on which this is something a skill that cant really be learnt overnight or something that could really be able to learnt on a short period of time.

This is why it would really be that always better that you should really be that learning on your own rather than on making yourself that be too reliant into others. All of information could really be that
able to research online and everything would really be that gained.It is really just that a matter of some effort and action to be made if you are really that serious but if you are that someone
whose really that lazy then you would really be that finding yourself on such trouble.

I don't think it would hurt to have a mentor. But you must be careful about who you take on as a mentor. Because you may not be able to do much without a good and wise mentor. Your mentor should be someone who has already reached the destination you want to reach and has already led many people to that destination through his orders. If there is such a suggestion then you can get the suggestion even through subscription. But you don't just have to listen to him and act on his words. And you have to consider yourself on a case-by-case basis.

The last point you make is key, someone that wants to trade should not pay for the mentorship they receive, this may seem unfair but there are so many scammers and so many people claiming to be great traders that most likely you will give your money to someone that does not deserve it, so it is preferable to learn on your own if you cannot find someone to teach you for free, as early on when your money is limited you need to avoid unnecessary expenses, and it is much cheaper to learn from a book than to learn from such mentors even if they were legitimate.

Having a mentor is actually an advantage for us. Of course, at least someone will guide what we do in the actual trade, rather than no one guiding us, because, let's say, you can study without mentors. That's why it takes time for you to learn something.

Apparently, a student will not have that diploma if there is no teacher who taught them, and you will not know that you are improving if you cannot see whether your grade is high or low. This is just an illustration. But since we are talking about trading, you might as well be careful. If they help you for free, that's good; take advantage and take chances, but if you are charged, that's not good in my opinion.

Give him the profits he deserved. You won't be that capable you envisioned right now without your mentor that has been guiding you all the way. And if asked if how often this should be, as long as you want to share with him your profits. That's how simple it is. And as a suggestion, find a mentor that is already close to your heart so that you can easily trust him and the doubts if he will only scam you will never happen. There's a lot of good mentors around, but only rare of them can be trusted and can entrust yourself as a trader to be the best that you can be.

For now, look on your circle of friends if there are good and reliable traders. Trading will be a lot easier no matter how risky and stressful it is as long as you are with someone that understands your weakness and helps you with your goal to achieve it in its due time.

I think I'm missing something here. As a learner you have no chance to decide on the reward to gift your mentor unless it's a free course, the mentor will decides on what he/she will accept and you may either chose to agree or disagree. But as you requested, I assume it to be a free class and in that regard I will say it depends on individual but regardless, the best reward for mentorship is gratitude and appreciation. Although everyone value gratitude in different ways, to some it maybe material gift or cash while some are satisfied with a mere thank you. So you need to figure out which one the mentor prefer and you can start from there. As for frequency, it will depend on how long you both agreed with each other but it is also good to keep up with the appreciation even after your learning period.

The important thing is to make sure your mentor knows how much you value their help and support.