Thanks for the reminder SM! 
Got a little carried away there. 
But I agree. I’ll also try to tone it down so I could stay more focused. Thank you again!
You are welcome.
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Isn’t copy trading a better approach than finding a mentor? New traders can learn the strategies of seasoned traders and make successful trades as well. Zulutrade, Duplitrade, B2Broker, and Forex Copier are some top options for newbies to consider.
- How do you know if they’re using Fundametals, PA, SMC or TA?
- How do you know what their strategies, entry/exit indicators and risk parameters?
- Can you accept the drawdowns their accounts can handle?
- How do you know they aren’t hedging their trades on other accounts?
Copy trading is, IMO, the last thing I’d recommend a newbie. Besides, that’s another topic altogether and has nothing to do with mentors.
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@darthdimsky Even though copy trading is a completely different concept, a beginner has an opportunity to learn by observing the trades. Moreover beginners can easily find traders for copy trading by conducting research and analyzing their performance and followers.
Then addressing these questions should be easy:
- How do you know if they’re using Fundametals, PA, SMC or TA?
- How do you know what their strategies, entry/exit indicators and risk parameters?
Quantify what a new trader learns and how they’d go about learning it. Because I’m of the opinion that copy trading has no value add to a newbie.
Here’s another question:
- How does a copy trader learn the all important psychological side of trading, especially on a losing streak from copy trading? Or are you of the opinion that psychology doesn’t matter?
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Hmmm. 
That’s an interesting suggestion. 
Tbh, I think they’re both quite risky though. With the mentorship, it’s risky and challenging to find a mentor who is actually trustworthy and worth your time. As for copy trading, I’ve actually tried it before. I remember how I struggled to understand what went wrong with the trades so I didn’t really learn much from that experience. Have you tried copy trading?
You can check out the stats of traders before choosing a trader. Moreover, everyone has their own pov, so if you don’t dig into copy trading, that’s completely fine.
Regarding that psychology point of yours, I would like to mention that a copy trader risks his money copying trades from others, so he would take every step with caution. What kind of psychology does a trader learn practicing in a demo account? I’m just giving an option to others and not forcing my will. Peace out.
@SeverianoGallo - Not trying to cause an argument. I’m trying to understand what the benefit of copytrading is vs mentoring. This is a genuine attempt at discussion. Not meant to bash you.
When you said copy trading was better than having a mentor I disputed it with the bullet points listed. And those bullet points are things I would go over carefully with a member of my family or friend if they were interested in trading. They will never learn those elements copy trading. And that’s why I’d never recommend copy trading to anyone near and dear to me.
Peace.
If you aren’t feeling the any loss or elation while you’re demo trading then you’re not demo trading right to begin with. Then why demo trade at all? But that’s another debate.
Yes I did and still am with zulutrade. Going good so far.
Here are a few tips on how to find a mentor:
- Know What You’re Looking for in a Mentor.
- Join a Mentorship Platform.
- Reach Out to Your Existing Network.
- Go to Professional Networking Events.
- Find an Industry Meetup.
- Attend Volunteer Events or Social Clubs.
- Use Social Media.
- Have a Goal for Your Mentorship.
Have a good day!
Thank you so much for the information, I will surely follow these tips as even I want a good mentor to trade with.
Mentors can be anyone, a book, or a website, and there are many knowledgeable sources available to help you learn and grow.
I’m a bit of a cynic when people talk about “finding mentors”. I think someone who agrees/offers to mentor you, unless they are your best friend or a trusted family member, must be doing it for some sort of secondary gain (most obviously financial but could be other reasons). Otherwise, why would someone give they’re time and energy to help you make money off rhem in a zero sum game? I am sure it is possible that people do do it out of pure alturism, but I’d only beleive that once I’d exhausted all other possible reasons. I wish that everyone who posts saying rhat they’be been mentored would declare whether they’ve paid for this service or not. Obviously, anyone who does it for money is prob not making much money trading and is looking for alternative sources of income.