I was wondering if some the traders of whom are now trading live and are profitable could comment on if they were self taught through reading and youtube or if they had actual coaching. Or maybe a bit of both.
If all apprentice mechanics were handed a dozen books and a car to practice on rather than actual coaching, would as many qualify with their NVQ?
Are there trading courses that are taught like you would do an excel course in college?
Thanks
Bit of both , to learn simply off youtube would be very hard. You can get the basics and a understanding but there will come a point you need a teacher. Just like driving a car easy to know gears , steering etc but could you drive just from a book no and even once instructed still need extra lessons as the real world is far different from the text book.
I have being trading a long time and still chat with a mentor (although more mates guidance than lessons) as does he to me now as we all have wobbles from time to time. Look at Tiger Woods greatest golfer there is and still has a coach , trading no different
Thanks for your reply.
Thats pretty much what I thought.
Your videos have been really helpfull and have given alot of inspiration.
But even with your knowledge and experience you still like to have the backup of a mentor now and again.
Could I ask how your mentor was involved when you began trading? Did he sit with you at your computer, maybe point out if you did something wrong, suggest you change this or that?
I just wonder if the many hundreds of learners including myself with have the opportunity of a mentor when the time comes. And will many give up after months of self teaching because they may never be coached from a mentor.
When I started I had a ex bank manger work for me who taught me 1 to 1 showing me what to look at and how to read the charts.
I guess that must of gave you the drive and confidence you would need. But 1 on 1 teaching im guessing may not be “within the realms of possibility” for everyone.
(Sorry had to steal your quote lol).
Plenty on 1 on 1 mentors out there , just need to find one that does the job as well and not just a course peddler , then it is real world
The common advice is
But number 3. Find a mentor, is never suggested even though it seems like one of the most important steps.
Well for me having an account manager as a new bie in trading is a great idea as the account manager will teach and give more understanding on how trading works…
Just like any job , from time to time you need extra training or another pair of eyes to see the fault as sometimes can look to hard. Another way is to buddy up with another trader and bounce ideas with an hope you encourage each other , this is something a forum can never do as will never fully know your style where a partner can. Best of luck as trading is a great source of enjoyment and income
Hey Paul. This question has been asked in these forums before and it has created quite a debate. There are people on either side and each side is convinced they are right. 
I very strongly believe in finding a coach if you can. I learned to trade on my own but I’m convinced that had I managed to find a coach who was teaching what I wanted to learn, I would be far ahead of where I am now. It took too long to get to this point and a coach would certainly have halved that time or better. I still struggle with a few things but not having anyone to bounce my thoughts off of, I need to resolve things on my own. It’s a trial and error process and, given the paucity of time, it’s a slow and tedious process.
I’ve always said that you either pay with your time (and losses in the market) or with your wallet. I prefer the latter, any day.
when I started learning Forex I have some lessons from a mentor but after it I have search the youtube and get lot of material about Forex and I have learned a lot from youtube. Now still learning from my friends who is trading Forex from five years and have lot of experience.
I taught myself but it was an arduous journey. If you can find a coach great but I imagine there not easy to find.
Like a few have said here it’s really a combination of sources. I think one of the problems of book and courses is they can make you feel you know more than you do.
Theory is one thing practice something else.
My honest advice would be to find a suitable amount of money you are willing to completely blow.
And trade it like your life depended on it. A lot of the theoretical concepts will sink in better that way.
Then when it is blown use your real stake to trade properly.
Wow now that’s learning the game the hard way.
Cheers
Blackduck
A small amount - needn’t be a Kings ransom. But it might get those synaptic connections working quicker - and what’s a few hundred $€ or ¥ in the grand scheme of things.
Each to their own but I hate losing money and I gear my trading to have as little drawdown as possible.
Cheers
Blackduck
We all hate losing money - but resisting it as a newbie only compounds the problem. I believe the thread is about self teaching vs mentorship.
Giving yourself permission to make mistakes on a first small account will teach you more about the markets than any YouTube video
good post, it brings up the question nature v nurture. Having a competent mentor I would have thought would help cut many corners. Ive heard you must find your own style what fits your personality
You are spot on. Each person is different in the way they trade. However there are only a certain number of ways to trade, IE Scalp Day Trade Swing Trade Position trade etc. So if you seek the services of a mentor or someone to educate you it makes sense to chose someone who trades the way you want to trade.
Cheers
Blackduck
Thanks for all the replys guys, good to see this spoken about. Ive been going through the babypips school, watching loads of videos, thanks to Langers for his videos as they have been the most informative/easiest to understand but the missing/hidden link for this from the start has been having a teacher/mentor to help bring it all together.
I wonder if mentoring is hardly mentioned because the fact is it is not possible for every “trainee” to find physical teaching and they wouldnt even bother trying to learn.
Even the open university has tutor support, and visits to a brick university.
Ive never had any training in my life that hasnt had involvement with a teacher/mentor. For example last year I done a SSSTS 2 day supervisor course which was basically just remembering health and safety from a book and then an assesement…still had a tutor though which brought it all together.
Most advice to beginner questions is, “read babypips”, “open demo”, “learn to trade first” , “learn psychology”, “why are you asking about EA’s and Indicators when you dont have any money management” etc etc. “Find a teacher” is never given as a response??.
Dont get me wrong im not going to stop self learning but just being realistic…
Rant Over lol
There are some on this site who don’t believe in paying for courses or for someone to teach them.
I will just repeat what I have always said and what worked for me. Find a good course and a good mentor because it will save you SOOOOOO much time money and frustration.
Cheers
Blackduck