Hello, I am looking for a mentor but not sure where to go. I have gone through the lessons and I am doing some demo trading but I still have so much to learn. I have found some sites but they charge a crazy amount of money. Plz help
1 Like
I recommend you start with free education. Start your education with this link. it includes the babypips course. Then open a demo and start putting what you’ve learnt into practice. Best of luck.
1 Like
Many of the regulars here will respond to well thought-out questions, where they can see you’e put your time into try something out first, as opposed to just asking, “How do I get better at trading?”.
Problem with a mentor is that he or she will most likely want to get paid for their time and experience. Makes sense, right? I would exhaust your free resources here and elsewhere online, Youtube, etc., and then come back here and ask those questions. Most mentors, my assumption, is that they don’t want the super fresh traders anyway. There’s plenty of free stuff to get you going.
1 Like
A mentor who is truly interested in making a good trader out of you would want a fresh trader, I would imagine. That way he doesn’t have to deal with the many misconceptions, nor have to wipe out all the disinformation, that all self-taught traders often embrace. Half the effort entails recognizing and shedding the crap we pick up stumbling through this journey.
1 Like
My thread here on Baby Pips shows how to use Candlestick Patterns on the Daily and 4 Hour with the objective of targeting fast moving setups.
Perhaps this approach may add some value to you trading.
This recent trade today for example, on the AUD NZD provided a quick 2.99% Return as I traded the Bearish Pennant Consolidation Breakout on its 4 Hour Chart down to the Support of the larger Pennant on the Daily Chart. Check out the Video Summary and Charts below. https://youtu.be/lBJqFo3X7uo
Breakouts like these are usually fast and as such, they provide the benefit of minimizing the time we need to hold trades.
Duane
DRFXTRADING
Choose from a range of resources, designed to help you learn however – and wherever – it suits you.Discover how to trade – or Develop your knowledge – Build your trading skills with free online courses.
I think you are better off with youtube starter videos. They are more practical.
Mentor is of course needed but i think not for newcomers , because lots of powerful educational materials are available in online which is completely free above baby pips school… so choice is yours right now.
Fair point. I would think though that the mentor would have to go through a ton to super beginner questions.
What’s a pip? What’s a stop loss? What’s risk management? Demo software? What’s that?
I just imagine endless “basic” questions. But you’re right, a clean slate is easier to shape.
I would put them through the BP school, have them open a demo account and tell them to learn their trading software. I would also advise them not to view any videos on YouTube or follow anyone out there. Thereafter, I would tell them to trade the demo account.
After 3 months, once they have finished the steps above, I would start them on their education while practicing on the demo. Within 6 months after that I would expect them to become profitable. So, a 9 month journey from start to consistent profits.
Subsequently, experience is all they need to become a master trader. There is no getting around that. You need to experience the vagaries of the market for yourself.
1 Like
Absolutely agree. Give them some foundation first.
Hey checkout (Trading with Rayner) he has a butt load of free education and courses and he is reputable.
I have learnt a lot from him.
Spend more time here & your trading chart! Listen, most of the Forex courses are valueless; so don’t waste your time & money!
It is best to not pay any sites, just check online and do research first. There are many articles online for you to select through so make the most of the time you have in the market.