Many Forex Traders (Newbies) won’t see the significance of a Mentor in The Forex Market.I was among I learned Forex for about two years without getting out of the Box (The circle of Doom).In that you actually dont know what you know and what you dont know.A Mentor is like a teacher when you are in class.Your teacher knows what you know and what you dont.The same applies to the Forex market as well.Trust me there is someone who knows more than you do,therefore finding a good mentor will help you a lot.You can recognize what is wrong and what is right,The Mentor will also keep you motivated and thus you can improve day after day.
In this world you have to master everything you do.If you cant at all find another career.Make sure you are all in it wins and losses until you are a master and profitable
How to find the right forex master for teaching me? Do we have to face to face meet the forex master or using webinar?
its a complicated issue about Forex Mentor , and practically difficult to find real Fx Mentor , because right now most of them are found to be scams.
Are you a forex mentor for hire?
Nice you had good trading and mentor abilities but amount is high people who had less amount in hand cannot spend it in just learning. Newbie really need a guide for a good start. They can learn from their own practice if they not afford mentor. I am also one of those who learn from personal efforts and hard work. It is not always you waste time without mentor , having a strong passion one can know and do trading .
Although real mentors do exist, they all have their own hidden agendas, usually making $$$ from the vulnerable.
I prefer to keep it transparent, and use a trusted platform, such as a [removed due to a Forum Violation], to chat, discuss trades and potential setups.
Who is to say you can only learn from 1 guy - if the group has multiple people you can learn something new from each of them, and vice versa.
Ofcoz Imbest,Learning from your mistakes is a good teacher.But get the logic from this example:One tells you that a gun can kill you,Would you blindly ignore that and be like ummmh let me try blasting my head if it really kills?Lol.
One more example: A blind man is walking and suddenly you find him going into horrible river slopes,You tell him you are going the wrong way and then the man ignores is he gonna survive? Just think like an Eagle looking down from up there.
Yes Jafooly,But may be you dont know who are driving the market.The market drivers keep the secrets of the Forex market in their house… COME ON MAN.For you to gain one must loose,So do you really think they can really tell you everything so easily?Do you think they dont understand you are reading tons of books and pattern like H&S,DB,DT,Shooting star,Tp and your SL Blablablaaa ummmh.They know all those things you are doing.I dont say they are wrong,No don’t get me wrong, but how do you apply them.If everyone is right how are they going to make MONEY!!!
I’ll let you into a little secret, it’s worked for me for many years, and it’s a free bit of info.
Buy when the market is going up on the retraces and sell when the market is going down on the retraces.
It really is that simple - no fluff, no hard sell, no market orders, no slippage and always trading after confirmation. Smash a 60SMA on a 4H chart to identify trending markets and you’re good to go.
Hope you don’t mind me chiming in here.
I believe all the information you actually need is right here in BabyPips. Check this out. I got mentored myself, after I spent 4 years trying to do this myself. I paid some good money for that 4 month program. He made me realize a whole lot. Not only about trading, but on how you should run a business. This guy was not even trading Currencies, to boot.
Well, long story short, and my point…I documented each and everything that I learned from him (“Exceptional Trader”), right here in BabyPips. As I was learning it. Believe me, I didn’t leave anything out. And that’s what I’m all about…passing along the right information to those who need it.
Well, for those who don’t know me, I have a long time running thread (Jan. '16) up to recent. And you if want, you can go through that time in my life and read everything that I learned from that program. It’s like I paid 3k to learn it, but you can go through it…for free! How’s that grab ya?
Bottom line, for me, is that I do believe in Mentorship. But, I also believe in free education. It all depends on where it’s coming from. A trusted source. BabyPips is a trusted source!
Moreso… it’s how seriously you take it. It’s really how much work you put into it. And in this game, it really is about whether you can learn from your mistakes or not. Psychological. Trust me, if God himself came down and told you exactly how to do it, it won’t mean a hill of beans if you don’t take it to heart. Internally. You have to change your way of thinking. Learn how to learn. Experience it. “Live and learn”
“Trade and learn”.
Mike you’re so awesome.What you did pass through is what I personally used too.I don’t know how I got into babypips.com back then.I found myself I had finished the entire course but I was still loosing.After a time I went into a so called 'The circle of Doom" you totally get confused of what you know.It is untill I got a perfect Forex Monker who breaks everything in the babypips.com course piece by piece plus some new hidden theory that may be not in the babypips and BOOM I came to understand with an open Mind about what is the Big picture of the Forex Market.Just like you can give a student some books to pass through,The level of understanding will vary.But the bottom line is that once the teacher comes He breaks everything into pieces then you be like ummmh so that is that..Yes that is that LOL!!!
There is credence to the one-on-one mentorship thing. I agree with you. Kind of like going to school. The teacher teaches all 20-30 of them at the same time. But a lot of them, in order to really get it, needs the specialized attention.
Yep. For as hard as this business is, sure, one-on-one will help matters more.
Good point drackson.
I’m with ya.
Thumb up mike👍
Some people require the extra attention to understand things and some don’t.
I’ve been profitable and that’s all been mainly from babypips & a few books here and there.
While others might need you to break it down to a simpler level at times.
I wouldn’t exactly equate not having a mentor as to wasting your time. (Like I said I’ve been profitable without a mentor and I’m pretty certain their are others who are profitable in the same regard.)
Though I do believe it is a good idea to talk amongst traders who’ve been in the industry for a while to get some inputs from time to time.
Most importantly what might work for me might not work for you. It’s understanding that void & being able to work in the confines where you’re able to become a successful trader. Everything we do is learnt and consistent practice just sharpens our tools.
Mike, I agree with you 100%,
However I think a section should be added to the school that teaches the fundamentals is post trade analysis. that advances with the curriculum levels.
As an annal anyliticle type an aggressive newbee doesn’t know enough to not know what they do not know yet. And with out a mentorship of some type can get swallowed up in the Forex sea of scams.
ALso a lot of newbies do not understand the ins and out of forums and need to learn how to quickly sort thru the good replies from the BS.
This is all down to a matter of opinion.
What you consider BS might actually be sound advice to a new trader, and you could think you’re providing excellent value for new traders, when really its all just BS.
How does one differentiate from all the noise, on a forum.
I know there are some that simply look at how long a particular user has been a member, and base their whole opinion purely on that.
If you’ve been a member for a few years, whatever you say, must be true?
Yep, no harm in a little marketing - no point in using facebook or twitter, just hit BP on the beginners questions section on a Sunday morning - when most the mods are off or snoozing.
Now if you think that your posts might get zapped always best to get your contact details in a few times before that might happen.
Funny old market this
Looks like I’m wasting my time then with no mentor…! Damn … Should i give all my profits back too…?
Definitely going to give this a read.