The Importance of Having a Trading Mentor

[joniboini]

If you have a mentor in trading, it's great, but how hard it is to find a good mentor, because I see so far many professional traders who are not willing to be my mentor, and I only read books and search for references on Google to learn to become a trader. I have also joined a VIP group in the past, but it was less effective for me.

Is there any reason why they don't accept you? Maybe they don't offer any lessons to begin with? I think you're quite lucky since most people who do something like that usually engage in pump & dump too. Even VIP signals can be misleading too. I think it's a bad idea to rely on them anyway. I guess you could if they give lessons on reading charts or trading indicators you can still learn from that. While learning trading indicators takes time it's better in the long run compared to following signals randomly (I'm sure this has been mentioned many times on this forum).

[bitterguy28]

If you have a mentor in trading, it's great, but how hard it is to find a good mentor, because I see so far many professional traders who are not willing to be my mentor, and I only read books and search for references on Google to learn to become a trader. I have also joined a VIP group in the past, but it was less effective for me.

is there any reason why a trader would say no to a client?

if not money what other reasons will they have to decline? maybe your conditions are not beneficial to mentors and your expectations are unrealistic but anyway you would want to find a mentor that is actually willing to teach you otherwise it’s not gonna be productive i believe that if you were to have a mentor he or she should actually care about you and your money and not just the profit that mentor will make from teaching you

honestly if there is someone in your family that also trades they can be a good mentor since you guys are family, you know each other and you have what’s best for each other on your mind

[enoch_from_off]

If you have a mentor in trading, it's great, but how hard it is to find a good mentor, because I see so far many professional traders who are not willing to be my mentor, and I only read books and search for references on Google to learn to become a trader. I have also joined a VIP group in the past, but it was less effective for me.

Is there any reason why they don't accept you? Maybe they don't offer any lessons to begin with? I think you're quite lucky since most people who do something like that usually engage in pump & dump too. Even VIP signals can be misleading too. I think it's a bad idea to rely on them anyway. I guess you could if they give lessons on reading charts or trading indicators you can still learn from that. While learning trading indicators takes time it's better in the long run compared to following signals randomly (I'm sure this has been mentioned many times on this forum).

Yeah, sometimes it may lead to nowhere or even do more harm than good.
Self-learning is great, but with some practice - even better.
Because not everybody would be able to have a mentor of sorts, better yet one who won't think only about how to suck more funds from you.

[Agbe]

A trading consultant is very much needed when a newcomer comes into trading. When you actually go to a trader and learn trading, he creates an opportunity not only technical instruction but also from experience to learn. Which is very important for a newbie. A new trader must physically learn trading from a consultant as well as do his own trading in demos, and do his own research in trading। take long time to learn trading, training is not a fast learning thing. So take time and learn everything better. Only then can you acquire trading skills.

The mistake newbie traders make is trying to develop a skill or strategy when they haven't really acquired enough knowledge to stand on their own, you need a trading consultant or Mentor to guide you, but most traders would prefer to rely on YouTube videos only. Those online lessons are not enough you also need a mentor that has an understanding of the market to help you for a while. Trading in a demo account like you also said is very important so you know your way around the market, but it's not ideal to use those strategies you are using in your demo account on a live account

[NotATether]

Well they need to be an understudy of a trading professional if they are really serious about learning this correctly. Otherwise they are going to keep making the same mistakes over and over again, and once it gets committed to memory it becomes harder to unlearn. Which can be frustrating when real money is on the line.

A good trader can help you avoid all those mistakes.

[enoch_from_off]

Well they need to be an understudy of a trading professional if they are really serious about learning this correctly. Otherwise they are going to keep making the same mistakes over and over again, and once it gets committed to memory it becomes harder to unlearn. Which can be frustrating when real money is on the line.

A good trader can help you avoid all those mistakes.

Yeah, a trader who would help you, not suck you dry for your funds giving the tips that can be googled in a moment.
It's hard to find somebody like that, I imagine.

[UNIVERSE]

Yeah, a trader who would help you, not suck you dry for your funds giving the tips that can be googled in a moment.
It's hard to find somebody like that, I imagine.

Sure, it is not easy to find trusted traders to be a mentor. Many of them hide their identities. Some traders may be also not really professional enough, they only claim they are professional traders. It will be more difficult if we learn from online mentors, we even don't know who they are exactly. I think we must learn from the mentors directly, face to face. This is the best way to avoid learning from bad mentors. But I know, we may have no professional traders around us.

[LUCKMCFLY]

Sure, it is not easy to find trusted traders to be a mentor. Many of them hide their identities. Some traders may be also not really professional enough, they only claim they are professional traders. It will be more difficult if we learn from online mentors, we even don't know who they are exactly. I think we must learn from the mentors directly, face to face. This is the best way to avoid learning from bad mentors. But I know, we may have no professional traders around us.

It is very Difficult to find mentors who give face to face classes , most of them give it online , and for those reasons it is so easy to fool them , because nobody or few are the Ones who have the time to give this type of Activities , I trust in Knowledge, but to be honest I see that the best thing is to read books, first give us a good Internal Argument and then Receive classes , why? To determine if the Knowledge that is being imparted to us is real or not , there are many who sell Smoke and it is a fact that in this world some want to take advantage of others.

[sampoerna]

It is very Difficult to find mentors who give face to face classes , most of them give it online , and for those reasons it is so easy to fool them , because nobody or few are the Ones who have the time to give this type of Activities , I trust in Knowledge, but to be honest I see that the best thing is to read books, first give us a good Internal Argument and then Receive classes , why? To determine if the Knowledge that is being imparted to us is real or not , there are many who sell Smoke and it is a fact that in this world some want to take advantage of others.

Indeed, unless it is close to a community that is focused on trading, maybe it will help more, because usually they will have a certain time to gather, and that's when, there are many discussions that take place. And for beginners, you can also consult with them. It's just that, this kind of method certainly won't be that effective because it's just a chat, not direct technical training.

And indeed, I personally have participated in an online trading class, and really for beginners at that time, it was not easy for us to understand what the mentor explained because it was online. Moreover, usually the class is together with others so when we don't really understand, then we will be quite reluctant to ask about more basic techniques.

[alltalk]

Yeah, sometimes it may lead to nowhere or even do more harm than good.

What do you mean? 

Self-learning is great, but with some practice - even better.

Self learning mustn't be only about theory, it is also about practice.
When people do self-learning, they even need more practices because they need to know it themselves. It is different with a person who has a mentor, he only can practice as the suggestion from the mentor. He doesn't need to do trial-eror, he has a mentor who already experienced it.

Because not everybody would be able to have a mentor of sorts, better yet one who won't think only about how to suck more funds from you.

Indeed. Even a professional trader, it doesn't automatically become a mentor.
Someone needs to have a specific ability to be a proper mentor. At least, a mentor needs to have a good ability in describing the materials of trading lesson.

[kai]

.....
Having a mentor in trading is crucial because they provide guidance, share valuable experience, and help you avoid common mistakes. A mentor can accelerate your learning process, offer objective feedback, and help you navigate the emotional aspects of trading, ultimately increasing your chances of success.

But make no mistake because mentors also eat their followers and that has been proven from various information on various Telegram and Twitter channels, so that social media accounts are reported by their own members. It is indeed difficult to find a real mentor because human nature is always changing, especially when it comes to money and this is very sensitive.
I think that the individual is the best mentor because with our own personal experience or intelligence we can manage our income portfolio in cryptocurrency which includes Bitcoin and Altcoins trading.

[TomPluz]

Indeed. Even a professional trader, it doesn't automatically become a mentor. Someone needs to have a specific ability to be a proper mentor. At least, a mentor needs to have a good ability in describing the materials of trading lesson.

Not all successful traders have the time and the skills to be teaching or mentoring others as this is requiring some skills aside from the trading skills he may already have but for those who do we also have to be careful because not all of them are really sharing their secrets...and many are actually making a good business with it just like a school charging some tuition fee. We have to understand that a good mentor can be find to hard for free and usually those who do are promoting some affiliate programs where they can get some money from their students. There is no question that a good mentor can be necessary but finding one suitable for you is not that easy. Now, if one has found a good mentor then congratulations!

[Themepen]

The mistake newbie traders make is trying to develop a skill or strategy when they haven't really acquired enough knowledge to stand on their own, you need a trading consultant or Mentor to guide you, but most traders would prefer to rely on YouTube videos only. Those online lessons are not enough you also need a mentor that has an understanding of the market to help you for a while. Trading in a demo account like you also said is very important so you know your way around the market, but it's not ideal to use those strategies you are using in your demo account on a live account

I agree that new traders mostly try to trade without learning things. Watching YouTube videos is not enough they need guidance from experienced trader or mentor. Online lessons are good start but they do not provide personalized advice or market knowledge. Mentor tell us about markets ups and downs and adjust strategies and tell which is best.


Practice with demo accounts is good but there is difference between practice on demo account and in real trading. Strategies that work in demo accounts may not work in live markets. New traders should focus on learning finding mentor and slowly moving from demo to live accounts. This can reduces losses and leads to long term success.

[gunhell16]

If you are new to trading, especially crypto trading, don’t go it alone. I learned this very late.

Having a mentor in trading is crucial because they provide guidance, share valuable experience, and help you avoid common mistakes. A mentor can accelerate your learning process, offer objective feedback, and help you navigate the emotional aspects of trading, ultimately increasing your chances of success.

You know, actually, the best mentor when you enter the crypto business industry is our dedication to learn the things we really want to know. Although having a mentor literally has an advantage, we must still be careful.

Because there are other people who will pretend to be mentors but are exploitative, the only way I learned was because of my determination and my dedication to learn here, even though I knew it was difficult. I really prepared and faced it because I really saw a good potential in this field of crypto space that we buy.

[Dzwaafu11]

If you are new to trading, especially crypto trading, don’t go it alone. I learned this very late.

Doing it alone is always risky, but if you have the knowledge and everything you need to know in trading, you can still do it. Although a mentor is good, he is like a guardian that will teach you everything you are supposed to know in trading, but after learning everything and you start trading, you see that you’ve already become professional, so the mentor is of no use by that time. 

Having a mentor in trading is crucial because they provide guidance, share valuable experience, and help you avoid common mistakes. A mentor can accelerate your learning process, offer objective feedback, and help you navigate the emotional aspects of trading, ultimately increasing your chances of success.

Some people are not professional traders, which is why mentoring sometimes is a kind of risk. Some people will pretend to be professional traders, and since you don’t know anything about trading, you will pay thinking you will get the result you want, but in the end they will fail to do the right thing. That is why some people choose to learn it on their own, so everything is dedication; if you are ready to learn, you will do it.