Forex Mentors

Hi guys,

I’m wondering what options there may be out there for forex mentors.

I’m right at the start of my forex education. I’ve read a couple of books, been through the baby pips school (which is ace - thank you babypips!)and started applying some of the techniques learned on my demo account.

However, I wonder if I may benefit from some ‘structure’ to my forex education. Ideally, I like to pay a successful trader to mentor me - but fear that any trader worth his salt would be WAY out of my budget!

There are numerous programmes offered online. Does anyone have any experience with these?

I wonder if any of these programmes really are worthwhile or if I’m better off saving my capital and sticking with the books…


keep your money in your paket :smiley:

open demo account and study tymen1’s thread from PAGE #1

He explains basics very well

Thanks Renala - that thread looks really usefull and I’ll definatly devote some time to it.

What I’m really looking for is some way to streamline/structure my education - so I can plan ahead and get an overview of where I’m at, and where I will need to be before I (eventually) go live…

This is why I thought some kind of mentoring may be usefull but I’m open to alternatives. Any ideas for this anyone?


There are many senior traders here at babypips that will be happy to help you at no charge. Why would someone charge you to help you? If they are good enough to help you, they don’t need the money. If they help you, it’s only because it makes them feel good to do so. Instead of having the opinion of one single mentor, you can have the opinion of a whole panel of senior traders. Reading Tymen’s thread as recommended by RenaLa is an education in itself. I also have a thread, Multi-Time Frame Trend Trading in the Newbies section that tries to fill in some other details. Once you have read those threads, feel free to post questions, preferably with chart examples, and you’ll find a friendly community here that will help. Starting a new thread with a very good question here in the newbies section will often attract the aid of many experienced traders. In my own humble opinion, any one charging you money and claiming they can teach you to trade Forex in a week is full of crap. The most likely case is you will need to study and practice for 2 to 5 years to do well at this. Start at the babypips school to understand the basics. Practice and study. If you have any questions after babypips school and reading Tymen’s thread and mine, post them to my thread and If I don’t know the answer, I’ll help search for someone who does. The charge is that when you are very successful at this 5 years down the road, you can help someone else. Enjoy the journey.

Thank you Graviton - I believe I will do just that!

Although there is much merit in what Graviton has said, I had a different experience. Please note that this is just my experience, and is not meant to apply to anyone else.

I spent almost a year learning from every source I could, including forums, but eventually realized that most accepted wisdom had brought me no closer to real success. I guess it did help to provide a foundation from which to move forward in many ways, including the ability to quickly understand or assess new ideas.

However, my leap into consistent success came from trading LIVE with a mentor online, and learning to read things in the market that no amount of indicators or complex systems were able to show. Much more importantly, I had someone who taught me about myself, and how to manage the psychological aspects of trading, in a structured and sustainable manner. As all experienced traders know, most new traders fail due an inability to surmount this obstacle.

However, it is worth pointing out that you should avoid any so-called mentor that is actually just trying to sell you a system. A good mentor may well charge (and why shouldn’t they?), but they should provide you with a few free assessment sessions so that you can evaluate for yourself before parting with cash. Secondly, there should be nothing tying you in. And thirdly, there should be nothing else you are paying for. As to why they do it? Best to ask them - mine has his own reasons.

I actually continued to trade with my mentor on a regular basis to this day, long after the hand-holding period ended - one develops a relationship, and of course you never stop learning. Trading can be a lonely business, and being able to trade live with others is awesome, for me anyway. Also, my monthly fee has never failed to be covered by a single day’s trading, so who cares?

Just my 2c.

Jason Stapelton is offering 2 weeks access to his live trading room for free. I don’t know him at all and am not affiliated with him. I just get his free video every week. I’m not sure how I heard about him but overall I like his analysis and trading style.

You may want to check him out.

After inquiring, the folks I trade with have a few slots open as well, and are apparently starting another course for newcomers to trading in a month or so. They always give you the first few sessions free so you can assess for yourself.

I am in no way affiliated - I am just sharing my experiences - you need to judge for yourself.

I believe Paul put up a few videos recently: do a search on youtube for “the complete trader” and judge for yourself.

Hope this is useful.

Thanks guys, I will definatly check these out!

Well said [B]Graviton[/B]! :slight_smile: There are perhaps ten traders here with ten plus years trading experience. Why pay someone when there’s a wealth of experience? Not just trading but without doubt all the other important ingredients that go into a sucessful trader… dealing with the psychology, money management and frankly the isolation. The seasoned traders here have experience of all of this. Their here to give back a little knowledge (or a lot if pushed LOL) make use of it. They don’t need your money… just give them a HUG now and then. :smiley:

If the mentor is as good as they say they are, they technically should not charge for a mentorship. Maybe books or courses, but not to be a mentor or to give you signals for help, my mentor has not even asked for a penny off of me, and recently I got off an hour phone call in his own time to review my weekly trades. I think he is actually taking on new clients to help and give daily signals and advice, so I could always get you in touch with him

Don’t take experience as a plus in this Forex world. Many demanded to be professionals with 10+ years in the trading world. And in fact they have the experience but it is very curious to see that they don’t have basic concepts, not to say professionalism.

Let’s start from: what books have you read?

No need for a mentor actually since you’ve already learnt a lot about forex. I’d rather suggest you to go micro trading and try things on your own rather than being dependent on others to make decisions for you.