Trading Mentors = Scammer?

[ajiz138]

Finding a good mentor in trading is difficult unless we have known him. At present many are negShare signal, but I don't think they are a good mentor. If I prefer to learn analysis and develop my own strategy in trading because with the analysis itself we can know where our mistakes if they fail.

You are right, nowadays it is hard to find a mentor who is truly a mentor, now those who only know about trading are already brave enough to open paid classes, as long as they have popularity.

I think the best mentor is ourselves, meaning we can learn from the mistakes we make. For me other people sometimes cannot be trusted, and the only one who can be trusted is ourselves.

[|MINER|]

You are right, nowadays it is hard to find a mentor who is truly a mentor, now those who only know about trading are already brave enough to open paid classes, as long as they have popularity.

I think the best mentor is ourselves, meaning we can learn from the mistakes we make. For me other people sometimes cannot be trusted, and the only one who can be trusted is ourselves.

Apart from that, I think that even if we are looking for a mentor in trading, we currently need to know basic knowledge about trading so that we don't go to that mentor just because of his profit list. At the same time, I think we need to look at his transparency, such as showing a list of profits, as well as showing a list of losses if he has made them.

And we also have to remember that most of our good mentors do mentorship at a high pay rate because their time is valuable. On the other hand, the places where you see free mentors or courses for very little money are definitely suspicious.
 

[LogitechMouse]

I think the best mentor is ourselves, meaning we can learn from the mistakes we make. For me other people sometimes cannot be trusted, and the only one who can be trusted is ourselves.

Well, I agree with what you said that we need to learn from our mistakes, and I think it's a requirement to think like that especially in trading because that will be the one that will help you develop in order to become a successful trader.

While having a mentor isn't a necessity, I always say that having one will shorten your journey in order to become a successful one. Yes, having a mentor mean you need to pay, but you're spending your money in order to have less time of learning. Finding one mentor that will truly help you is very hard indeed, but if you find one, paying some few bucks on them don't really matter if that means more knowledge for you.

I don't know but for me, I can quickly say if a mentor is a legit one or not. I have a check list.

[Vx1]

In my opinion, people who sell trading courses or consider themselves as trading gurus or mentors are just failed traders, yet they somehow monetize their knowledge by trapping middle-class people who are desperate for money. Did you see any trading mentors who are being successful with their trading journey? I never did.

I consider them as scammers. What do you think?

I don't think all of them are like that, but what is clear is that they will take advantage of us when we enter and pay when registering in their group. If we are already trapped in a trading class and do not get any profit, then it is better for us to leave and slowly learn to trade on our own. There are many sources of information that we will get if we are serious about learning to trade.

[ajiz138]

You are right, nowadays it is hard to find a mentor who is truly a mentor, now those who only know about trading are already brave enough to open paid classes, as long as they have popularity.

I think the best mentor is ourselves, meaning we can learn from the mistakes we make. For me other people sometimes cannot be trusted, and the only one who can be trusted is ourselves.

Apart from that, I think that even if we are looking for a mentor in trading, we currently need to know basic knowledge about trading so that we don't go to that mentor just because of his profit list. At the same time, I think we need to look at his transparency, such as showing a list of profits, as well as showing a list of losses if he has made them.

And we also have to remember that most of our good mentors do mentorship at a high pay rate because their time is valuable. On the other hand, the places where you see free mentors or courses for very little money are definitely suspicious.

Yes of course I also really appreciate that, because the time they spend is also valuable time, so there is nothing wrong with paying because we have disturbed their time. But my point here is how someone who from the beginning they intend to seek their own profit with a little knowledge of their trading.

And therefore we must also have basic knowledge about trading, with that we can also distinguish which ones are worthy or not to receive our money.

[jeraldskie11]

In my opinion, people who sell trading courses or consider themselves as trading gurus or mentors are just failed traders, yet they somehow monetize their knowledge by trapping middle-class people who are desperate for money. Did you see any trading mentors who are being successful with their trading journey? I never did.

I consider them as scammers. What do you think?

Many mentors are not really profitable in trading. Many of them are former traders and are studying to learn, but because they are having a hard time making money here, they become mentors to make money from students. Since they can teach everything that needs to be taught based on what they have learned even though they have not become profitable traders. That's why there are so many fake mentors, teach their students the strategy without teaching how to actually use it in the live market.

This is what I am talking about, teaching from the failure doesn't apply here because the intention of the mentor is to make money out of you irrespective of you make money or not while they are failed in trading then how can we expect anything that will be useful for us for the money that we pay to get that recommendations.

Exactly. How can they make you profitable if he can't make himself profitable. Some mentors have the same strategy but some of them are not profitable. Why? Because we have different approach in the market, our execution is different that's why we have different entry even though our strategy is the same, including that our emotions influence our executions. So we should have choose mentor very carefully.

[MrSpasybo]

I also agree with you. It's not all mentors that are scammers. I know that there are specific ones that are scammers, but I don't think its a good thing to generalised. There are mentors who pretends to be gurus which is not true, they only use these means to steal from middle class traders or beginner traders, people like this can not be classified as a mentor but tormentor.

But they are actually real mentors that impact beneficial knowledge to beginner traders, who guide them and also teaches them all they need to know. But nowadays, the world is becoming a scary place, so we need to be alert and careful who we trust.

Yeah, the world is full of both good people and bad people, heroes and villains. We don't need to trust everyone or accuse everyone, we just need to avoid the bad ones and gravitate towards the good ones.

Regarding mentors, there are many ways for us to check their level. Newbies can research some technical indicator issues using internet resources and test the mentor abilities. If the mentor can explain and provide value, they might be worth trusting.

Additionally, feedback from other students can also be referenced and help newbies find suitable and high-quality courses. Another safe approach for newbies is to take the time to learn about the crypto market themselves. I believe that the information on the internet and the support of AI are sufficient for those eager to learn to acquire knowledge.

[benalexis12]

Having a mentor, especially if you are just starting out in crypto or bitcoin, can tell you how lucky you are, especially if it is given to you for free. But there are others who attend so-called trading courses, although there are others who have attended many seminars about trading or trading courses on webinars, even though they paid, it seems like they have not learned anything.

So that means studying trading should be taken seriously, because if we do it this way, even without a mentor, you will definitely learn or you will be ahead of those who studied trading with a mentor, but they are not as serious because they do not absorb what they have learned.

[Gposas]

In my opinion, people who sell trading courses or consider themselves as trading gurus or mentors are just failed traders, yet they somehow monetize their knowledge by trapping middle-class people who are desperate for money. Did you see any trading mentors who are being successful with their trading journey? I never did.

I consider them as scammers. What do you think?

Hahahaha....

You've just said what is the current situation happening in my country. Every little knowledge is just being monetized, not for the reason of making professionals but just a way of deceiving people to pay for a knowledge that's almost worthless.

There's a saying that goes "The empty vessels makes the loudest noise".
For me, I've not seen any of those mentors in my region who are successful traders, they just make money from deceiving people and they dress in a very good way to make you feel they know alot.

And mind you, they go up to broadcast their knowledge on even radio stations.

Menhhh, it's really funny.

[Aanuoluwatofunmi]

Trading mentors or instructors are not scammers, except we are being engage with one that cannot be trusted, trading professionals are believed to be experienced ones in doing trades and this is what they know how to do best, but this does not exempt them from being under any form of mistake if care is not taken, but the best way to remain safe is by learning to do trades on our own self.

[|MINER|]

Yes of course I also really appreciate that, because the time they spend is also valuable time, so there is nothing wrong with paying because we have disturbed their time. But my point here is how someone who from the beginning they intend to seek their own profit with a little knowledge of their trading.

And therefore we must also have basic knowledge about trading, with that we can also distinguish which ones are worthy or not to receive our money.

+1
I always think that if we want to buy a paid course or go under a paid mentorship to learn a subject, then we should first acquire basic knowledge about that sector, otherwise we may choose the wrong person. And in other sectors, I would say that over time, the money spend on that course will be wasted, but in the case of trading, our situation will be even more dangerous.
So, we have to take care of all these aspects and then go under mentorship.

[Legion]

Trading mentors or instructors are not scammers, except we are being engage with one that cannot be trusted, trading professionals are believed to be experienced ones in doing trades and this is what they know how to do best, but this does not exempt them from being under any form of mistake if care is not taken, but the best way to remain safe is by learning to do trades on our own self.

It is believed that everybody is capable of making mistakes, no matter how much knowledgeable they may be and especially when it comes to the unpredictable business such as trading. It is always beneficial to follow an honest and a competent instructor so that learning becomes fast, but that does not makes it compulsory to agree with everything that one teaches. You still need to acquire your own way of perceiving the things that are happening in your life. In this case, even the best of bosses can provide suggestions that are not as suitable to your circumstances. This is why, it is crucial to be aware of other people’s experiences but also to get the information and cheque it oneself. In my opinion the greatest sin is when relying on the reputation only and do not realise that, in the end, everything is still up to you. Independently becomes independent does not equal to isolative oneself, but to grow purposefully.

[milewilda]

Trading mentors or instructors are not scammers, except we are being engage with one that cannot be trusted, trading professionals are believed to be experienced ones in doing trades and this is what they know how to do best, but this does not exempt them from being under any form of mistake if care is not taken, but the best way to remain safe is by learning to do trades on our own self.

There are really still those legit ones but choosing up will be the entirely depending on you on how you do make out some checks whether the mentor is just that trying to farm out those newbies for fees or really truly having those mentorship and able to make out some teaching but of course you do need up to pay up for some fees. It will be that up to you on how you do handle yourself on joining up with these groups. Not all are scammers and thats why if you do have plans on trying out to join up with some groups then make it sure that you've been dealing up with the right group. It is just that too impossible that you cant be able to determine on whats fake and whats real. Actually some people doesnt really like to go with groups on which they can eventually be able to obtain up these informations on free of charge. There are just that those people who are just that lazy and wanting that there's someone who do guide on them.

[Mr. Magkaisa]

In my opinion, people who sell trading courses or consider themselves as trading gurus or mentors are just failed traders, yet they somehow monetize their knowledge by trapping middle-class people who are desperate for money. Did you see any trading mentors who are being successful with their trading journey? I never did.

I consider them as scammers. What do you think?

I don't think all of them are like that, but what is clear is that they will take advantage of us when we enter and pay when registering in their group. If we are already trapped in a trading class and do not get any profit, then it is better for us to leave and slowly learn to trade on our own. There are many sources of information that we will get if we are serious about learning to trade.

      -     You are right in what you say mate, there are many ways in this era to source information regarding teaching about trading, especially since we still have AI that can give us the tools they can teach their prospects to enroll in their group.

There are so many people like this on Facebook and youtube apps, they don't charge anything but they benefit from affiliate marketing on the trading platform they promote, which is the answer to earn money from trading without hassle, the explanation is pretty good most of the time if I watch it. In this part I understand them because this is their strategy to earn money but don't cheat others.

[BitMaxz]

      -     You are right in what you say mate, there are many ways in this era to source information regarding teaching about trading, especially since we still have AI that can give us the tools they can teach their prospects to enroll in their group.

What do you mean there's an AI group?

There are so many people like this on Facebook and youtube apps, they don't charge anything but they benefit from affiliate marketing on the trading platform they promote, which is the answer to earn money from trading without hassle, the explanation is pretty good most of the time if I watch it. In this part I understand them because this is their strategy to earn money but don't cheat others.

I saw many of them, mostly on any social media apps they use the AI analysis as their own analysis and post it everywhere with ref links, or sometimes they are selling a script like an indicator or Pine Script. The price isn't cheap; actually, it's expensive. I don't know why people will buy it since almost all community indicators are free in TradingView; you just need a little adjustment to fit in your strategy.

About the free courses, I don't know if all of them are failed traders; if they can teach the basics, it is one of the big steps for newbies to learn trading.
Just like a sample of buying an apple at $1 and selling it for $2, you made $1. That's the basic trading, plus you need to learn risk management. This might not work on live trading, but you got the idea from your mentor of how it works. Profitable or not, you should protect your capital, because in crypto there's always a market shift; it changes over time. That is why if you are going to trade in a short time frame, I suggest go with a long time frame, as it gives you a better and good entry than choppy signals in a short time frame.