3 REASONS WHY YOU MUST HAVE A TRADING MENTOR

Learning something new in life can be a huge challenge. Especially if you’re doing that thing alone. Would you agree?

As kids we’re surrounded by parents, siblings, teachers, coaches and peers who all impart their own knowledge to us. Most of the lessons we learn are critical to becoming an adult and contributing to society. However more often than not, we don’t learn the skills we need to take our financial futures into our own hands.

We learn how to study, pass exams, contribute to society and get a job. But we don’t learn how to invest for ourselves.

In recent years, leveraging your salary, business income or savings into investments or trading has become more and more popular. Unfortunately so many of these high hoping individuals try to go about it by themselves and drastically fail.

Trend trading the financial markets is a hugely powerful way to leverage your finances and really thrive in life. Learning from someone who has already build wealth in this way is the cheapest and easiest way.

My Biggest Trading Mistake

If I’m honest with myself, by biggest mistake when it comes to trading was spending a year trying to achieve consistent profitability on my own. By ‘on my own’ I mean with the help of YouTube, Google and books. Of course you can pick up some great information in these places, but it’s near impossible to get everything you need with the personal ongoing support you get from a mentor and community. If you learnt to be a consistently profitable trader on your own, then my hat off to you. Really!

I was naïve. I spend 4 years studying for a degree that would bring me a job with an average salary. Why did I think I could succeed as a retail trader, with a potentially uncapped income on my own? Arrogance?

There are hundreds of ways to make money from the markets, but how do you choose one without being sidelined by distractions? The answer is to find a genuine mentor to keep you accountable and teach you one style of trading until you reach your goals.

1. Learn From Their Mistakes

For me the number one advantage to having a trading mentor is to learn from their mistakes. I did spend some time and money learning my own mistakes before I met my mentors. But I soon realized that had I not invested in my education, it would have been a ridiculously costly journey, that would have inevitably ended in failure.

In the almost 4 years I’ve been with my mentors, I have saved so much time simply not trying things that they have already tried and failed at. They know how to extract handsome returns from the markets consistently. They also know how not to, which is half the battle.

2. On-going Support

Trading or any entrepreneurial type endeavor can be incredibly lonely. Most won’t understand what you’re trying to achieve. Some will encourage you to just go to work and save a pension like everyone else. regrettably, when you’re losing trade after trade and you don’t know why, this can sound like an appealing option.

It doesn’t have to be this way. There’s a reason the success rate is as low as 5%. By having a mentor and community of like minded people there to support you, show you it’s not just possible, but highly achievable is invaluable.

I truly believe that you’re the average of the 5 people you spend the most time with. Immerse yourself in an interactive community of excellent traders, professionals and mentors and the chances of you following suit are greatly increased. On the flip side, following wannabes, scam artists and fake people on social media is asking for trouble.

3. Succeed in Life, Not Just

Trading

Something I’ve noticed when interacting and spending time with high achieving individuals is their energy and language. There is no negativity. No limiting beliefs. And there are no unnecessary distractions. These qualities not only help in becoming a profitable trader, but are essential in achieving anything worthwhile.

I spend a lot of time learning about and implementing practices for self improvement. Learning about the mind, habits, language, thought patterns and positivity have all aided in progressing myself towards the person I want to be and the goals I want to achieve.

The technical skills and theory you need for successful trading is not where it stops. Having an incredible trading strategy with a destructive limiting belief system will not mold you into the trader you want to be. Research these things yourself as well as observe and learn them from a mentor and the only way you can possibly fail is if you give up too soon!

Time to Change?

If you’re interested in knowing more about my trading strategies and psychological skill sets, do get in touch:

hello@tradersguide.info

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Good trading…