Forex Mentor.
No mate, it’s not! Because, so many scammers also offer so called trading courses.
No mate, it’s not! Because, so many scammers also offer so called trading courses. if someone is lucky enough to get a good mentor then it will be really very helpful but i agree with you that the world is full of scammers.
I think it is a good idea not just to have a mentor as such, however to have an experienced trader who you can discuss strategies with and bounce ideas off. Mentor seems hierarchical and in theory could also be a peer. Furthermore any mentor/peer figure needs to have proven results and not just talk of a successful past.
As we all know, trading forex is very much a mind-game and having a person to discuss trading with who can appreciate the context of forex trading is important.
Trading forex can be a lonely gig and when you tell your friends what you do they just do not understand and often talk of stock trading or mention someone they know that buys and sells Bitcoins.
I have had a person contact me asking me to be their mentor who wants to know how I formulated my system and am happy to assist. Even if I give my formula away I know that it is unlikely that he would have the right mind-set to maintain my trading plan.
Spending the time to find a mentor is better spent educating yourself IMO. You have a certain personality and you need to trade in line with your personality. The chances of you finding a mentor who a) is not a con artist and b) trades in a way which fits your personality are extremely slim and nil. That time would be better spent learning how markets work and getting the inevitable newbie mistakes out of the way (chasing systems, indicators, etc).
I am quite new to FX trading and am not even trading real $$$ at this point. I do trade real money on the S&P e-mini and I do make real money. There are 2 people on earth who I will mentor – my 2 children. I'm not giving up my trading edge to anyone else ever. If you had a profitable trading edge, why would you just hand it out to people? Why would you expect a ‘mentor’ to do this.
There's an old saying, those who cannot do teach. In this business that's true 99.9999999999999999% of the time.
Wow, that is very selfish have “edge” and not helping anyone? Make no different which market you are trading learning process and gaining experience is the same.
Then what do you say about famous traders like W. D. Gann, Alan Andrew, Elliot, Dow, Bill Williams, Goodman or Steven Nison? There is possibility that you are using part of all or any of those techniques. Big traders influence the way we trade, the way we do analysis and just because they share with us the knowledge – we got they “edge”. Once again – if you can find someone that willing to help you and share they knowledge and experience – this is priceless.
You cut drastically learning time, you avoid many mistakes and speed up obtaining knowledge. This is about helping new traders not isolate them from proper way to stream line they education process.
Just like mention before taking courses with famous traders help me to become whom I am today – successful trader. Go with traders that you admire, see they success and knowledge that they provide – real traders – not the people that have extensive marketing on social media.
I my opinion it is worth to get help from professional trader. I am interesting to persuade any one to do my way – this is only my opinion.
Oh, that famous saying is like this: “Those who can, do; those who can't, teach”.