How to identify a good trading instructor

Beginner Questions
1

Have you noticed the rise of financial market instructors from Futures market, Stock market and even Forex market? With the rise of corona, and people desperate to make money online. A lot of people fall victims to these Financial market instructors that have no business teaching or creating a course and charging high or even monthly subscription. Before you sign up with an instructor there are criteria to filter out the good from the bad instructors

  1. Track Record: Nobody seems to care if their instructors have a good track record or not, and this is where the problem starts. If your instructor doesn’t have a good track record over a period of 3-5 years and more, why would you believe what they sell. Would you go to a doctor who didn’t attend medical school and then opens up a hospital? I would not, let me tell you. Same goes for choosing your instructor.

  2. Live Trades: Show me your live trades along with your track record demo or live account. That shows the instructor knows what he or she is doing with their own strategy and is consistent with it making profit.

  3. Risk Management: Pay attention to these aspect. Everyone seems to be hellbent on making a lot of the market from the market. Instructors use the fact that you can make tons of market from the market to lure people in. While this is true you can make a lot of money is the same way one can lose a lot of money in the market.

  4. Testimonies: This can be the most deceiving. While there are genuine testimonies, there can also be fabricated ones in the mix. You really want to confirm the instructor’s skills and consistency before believing the testimonies. A student giving a testimony doesn’t necessarily mean they succeeded using the course they purchased but their overall experience in the market and then give props to their instructor who’s strategy wasn’t the contributor to that student’s success. This is a hard one to identify, especially when you’re in a gullible state.

You may be eager to begin a course right away or desperate to make money. But the market is really brutal once you put your hard earned money in. Make sure you do your fact check before investing your time and money in an instructor. Hope the best for you in your trading journey.

2

Demo account is best for learning. however, you can learn how to deal with emotion in demo account.

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3

Hmmmm. :thinking: I’ve always said that looking for a mentor/ instructor is very tricky and there are a lot of people that get scammed. :open_mouth: So I would suggest learning on your own first, using the free materials online. :open_mouth:

4

We can find a lot of videos related to the Forex trading which would serve as a online classes for the newbie forex traders on the youtube.

5

learning videos is really important to enhance trading performance , and besides this a consistent level of practice is more important.

6

Hello, thanks for sharing your insight. It’s a nicely worded write-up that’s definitely gonna help many newbies and few experienced traders who’ve been doing it the wrong way. Shall be looking forward to many more such helpful pieces. Cheers!

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7

Never believed in the concept of having a mentor or an instructor. I’ve been trading for almost a decade and still can’t guarantee whether I’ll be making some money or not. So how can someone claim to be proficient at something that changes with a blink of an eye?