Learning to trade without a mentor is like jumping into the deep end of a pool without knowing how to swim…..
you might make it out alive, but you would have been better off having someone teach you to swim first.
What is a mentor and why do I need one?
In any new profession, there are hurdles to overcome in order to be successful. Success can be defined in many ways. For some, success equates to a promotion or when your boss gives you a raise for performing well. In trading, success is defined differently. It is more about how well you executed the trade, not how much money you made from that trade. Many new traders equate a big payout or a big “win” as a good trade. They don’t have a plan, they don’t really know why the trade went well, they didn’t have an exit strategy. They just know that they made money. In other words, they were lucky. A defined plan and strategy is needed. Without it, you are relying luck and eventually that luck will run out.
So, here is the question, “do I need a mentor in order to learn to trade?” The short answer to this question is no. There are many people that learn to trade on their own. Some are successful, but the majority are not able to stay in the game long enough to succeed. Anyone can pick up some books, watch some videos, open a trading account and start trading. But, in order to become a consistent trader, you need a great strategy, discipline, and dedication to constantly learning. A mentor can save you valuable time and money. He/she has already been through what you are going through. They have made the mistakes and learned the lessons already – they can help to prevent you from making those same, sometimes very costly, mistakes.
Think of a mentor as a gauge of one’s potential…
A mentor is also the epitome of encouragement who can help you increase your confidence through instruction and strategic planning. A trading-mentor is no different; in fact, one could argue that they are essential for a trader to reach their maximum potential.
Trading can be a very lucrative and satisfying career. It is not an easy path to take, but having a quality strategy and a knowledgeable mentor can make all of the difference.
Be safe out there – Don’t learn how to swim (or trade) alone.
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*Testimony from “Hunger”, current member*THIS POST AND ALL CONTENT ON THIS SITE REPRESENTS OPINIONS ONLY AND PROVIDED FOR EDUCATIONAL PURPOSES ONLY. CONTENT SHOULD NOT BE CONSIDERED ADVICE OR A RECOMMENDATION TO BUY OR SELL A SECURITY. PLEASE SEEK ADVICE FROM AN INVESTMENT PROFESSIONAL.