Would the less experienced members of this forum be willing to pay for a trading mentor? Similarly, would any of the more experienced members consider becoming a mentor (a service for which you could charge)?
Having seen numerous requests from newbie’s asking where they may be able to find a mentor, I was considering creating a website that helps match mentors to clients. Is this something that anyone here would be interested in? Obviously it would require adequate demand from both people seeking trading mentors and people who wanted to act as mentors, for it to work.
I would pay Chris Capre, Anton Kreil, Lex van Dam and any other well known and reputable trader But then if I had the money to pay them for tutoring then I would be already successful, right
Any experienced full time trader that is successful would have to charge the person/class/seminar for each hour mentoring the equivalent of what it would cost him/her in lost earnings plus a bit extra for expenses. Therefore I believe that although the mentor may be good and in the “grand scheme of things” the hourly cost would be a small drop in the ocean, £10,000 a day minimum is too much to pay a mentor when you can make better use of that money.
Trust between the mentors and the clients is the key word. If you could get the clients to trust the mentors who would gladly give up their time to teach, than to trade then you will have cracked it. I don’t believe that your clients would have the money and that the mentors will be doing it for the right reasons.
My advice after trading professionally for many years is to tell people to save their money and learn all you can from the thousands of good trading information on the Internet, or tell them to get a job in a trading firm and learn it that way.:60:
Personally I have paid and would have no problem paying in the future. When I first started trading, I was following one of those demo vs live discussions and somebody asked “Why a demo?” One of the answers was “When you first start out, you will make the same silly mistakes that all traders have made, better to find what silly mistakes you will make where it’s not going to cost you money.” He was absolutely correct.
When choosing a mentor the most important thing to me is not costs; it’s value. d4ved is right when he says do it on your own by researching. I am the type that researches everything; however my wife learns best when someone is teaching her. Time is another consideration. One of my favorite strategies is a fib retracement strategy. Although you could learn the mechanics in a couple of minutes, you would not learn how to apply it in most cases for max value in a couple of minutes.
In my opinion there’s only two ways to learn: experience or paying someone to guide you. I think you have to take a real good unbiased look at yourself and ask: for this particular thing I’m trying to learn, what is the best way to get max value.
I’ve had two trading mentors in my life one runs a forex fund, good friend of mine where he played with 2, 100 K euro accounts, beside his 22 mill fund account the other traded privately, both mentors showed me their wallets, which I believe is a must for any that are considering using a private mentor.
By reading includes purchased over the internet Al Brooks and Lance Beggs total $ 300 money well spent. 30 day money back guarantee if you are not satisfied.
Total cost of education material $ 300, $ 100 forextester, books for $ 250.
Bought Nial fuller course the little moment he offered the money back before six hours had passed I demanded a refund. same with Forexmentor demanded a refund after 8 hours pure garbage …
All courses which focus on particular indicators Fibonassi avoid it, or ask if they can demonstrate results over the last 3-5 years.
Are you so stupid to pay 3K in pound for Anton Kreil courses so deserves lose your money just the dumbest monkeys pay 3K for nothing. Same applies to all courses offering 4 hour strategy courses designed for people who work …
Offered courses with 30 days refund after purchasing the course may possibly be good.
Most trading courses are rubbish therefore offered no refunds after purchase …
For years I’ve been studying Jazz music and I’ve read all books possible, listened to almost every jazz artists (modern and classic). I attended seminars and lessons like crazy. I’ve even considered taking a jazz class in university here in Toronto. But all through those years of getting all information that I could, I still have to shed, sit down and apply all those information that I’ve learned theoretically on my instrument. In short, I have to pay my dues practicing long hours. I also realized that those things I’ve learned from teachers and books etc. are available online, I just have to do my research.
I guess everyone one wants to have a short-cut to get better, that includes me. Although advise from experts and experienced traders are priceless and as important as everything else, guess what, we still have to pay our dues and shred, practice, do a lot of research and all those crazy stuff…in short, there’s no short-cuts to success. If we want to be successful, we work hard…hope it makes sense…
Well said. Everyone wants the short cut, the easy way, no money spent to achieve stardom etc. The ones that make it even though they would like all the previous, know the only way to have any chance of success, is thorough hard work and smart work. Again well said
Gp
I totally agree with gp00053 that success (stardom) is only achieved by doing your homework first (research) and doing the smart thing that’s (KISS or “Keeping It Simple S*****”)
I agree with seniors who’s posted above that with only hardwork with trial and error you’ll reach where you want to be to majority of us that is to trade for a living and to some who’s already there perhaps keep doing whatever you’re doing or maybe even more.
But if you think you don’t seem to grasp the terminologies methods and strategies that’s already out explained you might want to seek a help from someone who’s more experienced as you refer as mentor. But then again if you don’t have the ability or patience to try to understand these things on your own and if you think it’s too much work and will require a lot of time from your side and you think by getting a mentor perhaps everything will be fast forward and direct. Then you shouldn’t even be thinking of trading to begin with. Like I said success comes with hardwork trial and error. There’s no shortcut. If you still insist on a shortcut then my suggestion to you would be just stick with your job and get your monthly paycheck and perhaps look for other investment that wouldn’t require that much time effort and knowledge from your side mutual fund , fixed savings account ?
Basically yes. If you have an idea of what you want to get out of it and you think you can achieve that through them. You should always be open to learning and you should always be open to accepting help from others that can help you. Money is a small price to pay for growth. However, you gotta decide for yourself if your mentor is able to help you or not and that can be tricky.
I agree, that’s why it’s so important to have a very detailed list of what you want a mentor or coach to do for you. I also think that before you hire a mentor or coach, you have a working knowledge of the basics that you could learn by going through the babypips school and asking here if there’s something you don’t understand first. I think you would be in a much better place to pick a mentor and get maximum value.
Someone asked me what would be the 1st thing I would ask on my list to coaches, mentors or trainers. I told them I have a rule of thumb when it comes to paying for anything not only related to forex but to forex and anything else someone wants a payment for. He seemed impressed so here it is. . .
" Before paying for anything, the first thing I do is get enough information to decide if the payment is for a fish; or for teaching me how to fish. Hope that helps. It has always worked for me. :58:
Gp
I believe that there are less experienced members who are wiling to pay for a trading mentor, but I think is going to be a challenge finding someone. Someone who you can trust.
There is a lot of information all over the place. If it’s a question of learning, then I would say, yes a mentor would help you but everything is there already free and there are so many other people who know what to read etc that paying a mentor to tell you what is already free to you is a waste of money. Put it in your account to trade. What a mentor in my mind is for is for all the tweeks. If you’re a winning trader, then it’s to get that 1% or 2% better. Once you have experience in what you are doing and want that 1% or 2% extra then it’s off to find one. When you are ready for a mentor what you will notice is you will be able to distinguish people who are “mentors” which you can mentor better and those that actually have either more knowledge. The trick is finding the right one with that 1%, 2% shot because having knowledge about all sorts of things just doesn’t cut it. I saw on a earlier response that someone would charge 10k/hr. If you are dealing with a couple of mil each time 10k/hr is simply a %. So it goes with perspective… Would you spend 10k/hr if you’re getting 70k / each trade? Sure why not, that 1% or 2% could be huge in earnings. If you’re making 500$ / trade and it costs you 10k/hr for a mentor, that 1% or 2% doesn’t really matter if you ask me.
But then if I had the money to pay them for tutoring then I would be already successful, right 
