How to choose a mentor:
1) Look for someone who is humble and down to earth; anyone promising exorbitant returns, monthly returns, charging excessive fees, or talking about grandiose lifestyle like mansions, yatchs, luxury vacations, helicopter trips or playing polo with prince Charles - keep away. Its a scam!
2) KEEP AWAY FROM A STICKY MENTOR : A sticky mentor is a person whom you have contacted once ( or whom you have contacted) but who ( or whose team or representatives) keeps following you around all the time, keeps calling you, persuading you, pleading and begging you to take their mentorship. Scam!
3) A person who paints a rosy picture and says trading is easy and anyone can do it. Its not. Also, someone telling you that his/her students made xyz profits in a few days / months and changed their lifestyle. Huge returns are a possibility in forex trading, but do not occur consistently.Keep away from such a mentor.
4) Keep away if the mentor requires you/pushes you to open up a live trading account; in that case it's not a real mentor, its actually an introducing broker connected with a brokerage firm looking for commissions made from your account.
5) Somebody selling you a 'system', proprietary indicator, robot or signalling service. Keep away.
6) Gather as much info as possible for free through the internet and other sources such as this website before you go looking for a mentor. Also start demoing and experimenting.
7) A genuine mentor should mention hardships, pain, struggle and losses in trading. They may or may not charge for the time that they give you (but it should not be anything excessive).
8) A genuine mentor is willing to go an extra mile to solve your problems. He/she should not be worried about making you invest or extracting money from you.
9) Focus of genuine mentor is on an educational PrOCESS, which may take a long time.
10) Focus should be on risk management, and most importantly developing your emotional ecology.
So please use your intuition and judgement with regard to the mentor's personality and do not waste your time or money on scams
You can read my blog at for some of my other thoughts if you like.
Trade in Peace!