im no expert but maybe there more nuances in day trading and maybe a different type of psychology .
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You are 100% right in your assessment but I honestly feel that finding a mentor - unless you pay a large fee will be hard
A mentor tends to be someone who can look over your shoulder and direct you - an internet mentor may work but is more likely to be a āguruā with everything that entails
One of the reasons so many fail at trading is because there seems to be no formal training path unless you go work for the institutions.
You seem an astute fellow so my advice would be to read the market wizards series and get a feel for what you should be learning - if you havenāt already that is
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its the old cliche why would one want to mentor if s/he so successful, ,enjoys the role, added income ??
In start you need a mentor to understand all about trading it will give you easy idea in less time all about forex trading other wise you have to spend more time for basic learning. After it your self efforts are important you can not get improved without self teaching. As much you will trade in market there is a possibility to learn new things every day it is up to you how you apply your learning next in trading to get good results.
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Thats true, their daily fee would have to cost more than a days trading profits to justify their time
Mmm we all different but if I made a substantial sum ,I do none or little trading and detach from it all.id sooner be a Sheppard in the outer Hebrides
I do - it was put together because of all the problems i had when I began. I figured that there have to be others like myself who started completely wrong.
It is a work in progress and really Iām doing it to keep busy more than anything.
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Iām still a fan of self-education. This will help you understand all the intricacies of trading, and most importantly - there will be no one to blame for their mistakes. You will understand that it all depends on you.
you can easily spend a few years trying to figure things out on your own. That is why I believe one to one coaching is essential. Many traders and sites are offering this, but I tried InvestingCubeās program myself. I went from losing money to making it. You can learn more about it on their One to One Trading Coaching section
self education i think is the foremost way to develop , but its not easy approach , honestly speaking , only strong mentally people can do it with successfully.
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I agree with this, one problem with self-education is that you donāt know whatās relevant and what can be overlooked. If you have good guidance you have your work cut out for you.