I wish I can find a good mentor to show me the ropes. I learn by asking questions. This website helped me so much with understanding the concepts and terminology. When I'm live for some reason I forget some of the things I learn. I wish I can find a mentor.
Last guy I found to mentor me charged 3k up front than 10k in commission from my profits off of his training. I'm hoping I can find somebody I really need the help.
1) Look for someone who is humble and down to earth; anyone promising exorbitant returns, monthly returns, charging excessive fees, or talking about grandiose lifestyle like mansions, yatchs, luxury vacations, helicopter trips or playing polo with prince Charles - keep away. Its a scam!
2) KEEP AWAY FROM A STICKY MENTOR : A sticky mentor is a person whom you have contacted once ( or whom you have contacted) but who ( or whose team or representatives) keeps following you around all the time, keeps calling you, persuading you, pleading and begging you to take their mentorship. Scam!
3) A person who paints a rosy picture and says trading is easy and anyone can do it. Its not. Also, someone telling you that his/her students made xyz profits in a few days / months and changed their lifestyle. Huge returns are a possibility in forex trading, but do not occur consistently.Keep away from such a mentor.
4) Keep away if the mentor requires you/pushes you to open up a live trading account; in that case it's not a real mentor, its actually an introducing broker connected with a brokerage firm looking for commissions made from your account.
5) Somebody selling you a 'system', proprietary indicator, robot or signalling service. Keep away.
6) Gather as much info as possible for free through the internet and other sources such as this website before you go looking for a mentor. Also start demoing and experimenting.
7) A genuine mentor should mention hardships, pain, struggle and losses in trading. They may or may not charge for the time that they give you (but it should not be anything excessive).
8) A genuine mentor is willing to go an extra mile to solve your problems. He/she should not be worried about making you invest or extracting money from you.
9) Focus of genuine mentor is on an educational PrOCESS, which may take a long time.
10) Focus should be on risk management, and most importantly developing your emotional ecology.
So please use your intuition and judgement with regard to the mentor's personality and do not waste your time or money on scams
You can read my blog at for some of my other thoughts if you like.
Let's be honest, if you want a mentor stop looking for one. A good mentor isn’t someone you choose, a good mentor will choose you and not by looking for you or you finding them but you proving you have some form of self worth.
You say you forget things when you’re trading live. Develop a trading system or journal, that way you won’t forget. You have a question; find the answer yourself through research.
A mentor is not a person that is going to hold your hand and walk you through all of your trades. A mentor won't make themselves accountable for your f$%£ ups, they will make you accountable and when you need answers they will nudge you in the direction of finding them.
Half of those on here, whether they like me saying it or not, don't want to help you but rather take your money. A mentor doesn’t want your money but rather nurture your skill. If they charge they're a teacher not a mentor.
There are far too many "I want to help YOU" but only if you pay me first frauds out there. You want to find a real mentor, work your arse off every day, develop a trading plan, build a trading system, create a trading journal and if you don't know how, FIND OUT HOW.
I wish you all the best I really do but before you find someone that will excel you skill you have to develop it yourself first. Work on you, don't wish for someone to do it for you.
Why on earth would anyone that is REALLY good waste his time telling others about the money making machine he invented? Ever crosses your mind? Would you do that?
Well why not? There are many traders who know how hard it is to become successful and that is why they wish to help. Everyone should start from somewhere and for this reason forums and schools like babypips are created - to help all the newbies to build their knowledge and base. Of course some people do it for money but honestly I don't think they can really help you, especially if they charge too much. I think that forums like this could be used instead of a mentor but each trader should decide what will work best for him/her.