yea, after learning from your mentor lol eventually you’ll break away from them once things start to click
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Lol, of course this can definitely happen especially when money start coming and we are on a roll of profit. But it’s not bad if we spread our wings and be free, but every now and then we can always go back to our mentor for advise.
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Thanks everyone for your comments.3K+ Views is also great.I think some of you have being left out in dilemma,Others have stepped up to look for Mentors,Others have had Mentors already and Others have being Mentored and now they can stand on their own.To sum up; Having a mentors is important but not necessarily a must.Going around the Fx market without a mentor may mean you will have a long learning curve,loose a lot until you really become good or Give up altogether. It is you with your gut feelings of whether you need a short learning curve or a long learning curve.
@Thanks
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You are on one already, this forum is a great platform to be mentored. Other traders give sound advise here and that is what being mentored is all about, receiving advise and guidance.
I personally spent many hours on forums looking for a learning path, trying to make sure I’m not being mislead:
I started with:
- Babypips course
- Bob Volman Understanding Price Action: Practical Analysis of the 5-Minute Time Frame
- Steve Nison: Japanese Candlestick Charting Techniques
- Steve Nison: Beyond Candlesticks
- Al Brooks: Trading Price Action Trends (half way through)
Also demo for a few hours each morning.
Started just over 2 months ago, and feel like I’m making a decent progress.
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Hello, everyone. I am new to this forum and this topic really caught my eye because I was just going to make a thread like this. I think a mentor is extremely important for the rapid gain of knowledge, what may take you days to gain may be endowed to you by a mentor in a few hours or even minutes. We have to realize that while we are stuck in a tunnel vision, the mentor has the whole map and knows where we are getting stuck at and how to get us out of that. But for this to happen the mentor needs to be far more knowledgable than you and be able to support you in growing.
I have been trying to find mentors or even people to chat with over this stuff, because a lot of times I just want to have a chat about charts with people, about the price action etc. and I believe one can learn a lot simply by having a small group chat with likeminded people.
I was over on reddit before and I was extremely disappointed by how negative and gatekeeping mindset the people there had, always putting people down and telling people to not enter trading etc. I believe if one wants to proliferate in any field they must get good mentors and good fellows to discuss these things with, because they give you insight in what you know and don’t know and give you a reason to explain everything in detail.
Hope we can keep having such good discussions.
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It’s a great summary here, it’s not a necessity to have a mentor in the markets. But it can be a great add if we have one and rely on them like 50%, then do the rest ourselves so you wouldn’t blame anyone when things don’t go well.
Because it can be very easy to cast blames.
Hello
Would you mind if I contact through your number or email I’m in need of a forex mentor
Thank you
Check out my course TheIntelligentTrader dot com if you’re interested in learning profitable strategy. I trade for 5 years profitably.
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It feels like making progress, but who knows how far you’re from being consistently profitable. Because those books teach some concepts but it doesn’t provide a trading system.
Hey Ananais and thanks a ton for sharing such useful deets! I myself thought to be ready for the real-world trade but this definitely has been an eye-opener. I do feel good after reading about Mike’s experience and believe it’s gonna help me tons in my journey. Cheers!
Mainly you have to do decisions and your own trading but for learning you should take a guide from anywhere specially mentor can guide you well when you are having no knowledge about forex trading. The things you will learn with reading and experience will take much time than a mentor will tell you the rules and working of market in short and effective way.
Yes, you are absolutely correct! I started my trading journey because my friend told me about this. He has been trading for a long time and I learnt many things from him. Specially do’s and don’ts in the forex market. This saves a lot of time that we individually give to our learning stage. But at some point in the trading journey, you have to learn yourself and grow.
Initially I also felt that I should have a mentor, but I am performing well on demo and still learning. Can you guys tell me where I will get more learning material apart from babypips.
Agreed and that’s why there are learning platforms where newbies can learn, understand, and get solutions to their problems from expert traders. This being one of those platforms. Helped me till now.
But that’s what this platform and many others are doing isn’t it? A noob can learn all about trading here, get answers to the queries, participate in the discussion, and seek guidance when needed.
There are lots of books and journals available online. But I’m sorted with Babypips. All my doubts and questions are answered. Won’t deny, I do watch YouTube Videos and read a lot of blogs for added information and know the current trends.
If you’re demo trading, I don’t think you’ll need any more material or source to gain knowledge of how the market works. The most important part of trading is money management and hopefully you’ve been following the strategy for the same in the demo on real exchange rate movements.
These points are valid but no demo account can replicate what live trading is.
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Thank you so much. But still I have a doubt as I am performing well on the demo account should I start trading on a live account with this much knowledge. I am afraid that I might lose my capital.