How to find mentor

[Lord Flasheart]

Finding a mentor is a good exercise. It trains you to find the truth, if you question your mentor fully. Even having a mentor and questioning him all the way up is good for you (and for him). That way, you will probably develop better logical deduction. Doing that, you will, some day, surpass your mentor. Having ambition to hold better understanding of charts and psychology can only help.
How can you have something better, when you don't know the other systems and approach?
Mentors role is to compress time spent on charts and psychology. A good mentor will give pointers, so you are not in the dark and find the truth faster. A bad mentor will give it to you as well, but it will take some extra time to shake up from the bad mentor. Everything is a learning experience.

Look when you enter this forex game matey, its best to assume the bent over position, pants down and swarfega applied. You will get rogered by everyone and the participants are endless.

 

[noads]

Look when you enter this forex game matey, its best to assume the bent over position, pants down and swarfega applied. You will get rogered by everyone and the participants are endless.

I have absolutely no idea about your mumbo jambo language. I'm not your "matey"

 

[Lord Flasheart]

I have absolutely no idea about your mumbo jambo language. I'm not your "matey"

I actually like some of your post by the way. You are right, looking for a mentor is a good way of finding the truth. Asking simple questions will soon make things clear. Do you know a good mentor ?

 

[noads]

I actually like some of your post by the way. You are right, looking for a mentor is a good way of finding the truth. Asking simple questions will soon make things clear. Do you know a good mentor ?

You've surprised me. I thought that you are mocking me. I was wrong
Yes, I know a good mentor, but this is not a topic about "Post Your Best Mentors". It's about how to find one. I would rather give people a tool how to look for a good one, and how to not look for a mentor. It's much fulfilling that way.

 

[Lord Flasheart]

You've surprised me. I thought that you are mocking me. I was wrong
Yes, I know a good mentor, but this is not a topic about "Post Your Best Mentors". It's about how to find one. I would rather give people a tool how to look for a good one, and how to not look for a mentor. It's much fulfilling that way.

Why would you not tell us who it is?

 

[noads]

Why would you not tell us who it is?

Because, I saw on many forums that people like to assassinate characters, rather than listen to the knowledge presented. For 10 years, I observed occasionally a couple of forums (with sometimes years of pause), where people discarded great teachers and chose bad actors instead.
That's why I would rather tell people how to find a good mentor than to show a persona.

Furthermore, people don't like to study charts and do their research (sometimes for years). They want quick fix for their problems with chart and psychology. This is how not to search for a mentor. No good mentor will push you to do things. No good mentor will assert themselves into your experience.

What I can do is to give you funny tools how to spot a bad one. Because almost every each of them uses known NLP tactics.

That's why I would recommend searching for a phrase like "cringe-fluencer", and as a standard watch "coffiezilla" videos from time to time, maybe "Mike Winnet" videos. "Scott Shafer" is also a nice guy. They are exposing bad mentors in other field, but sometimes they spot bad trading gurus as well.
By discarding bad mentors and knowing their tactics, it's easier to find a good one.

 

[Lord Flasheart]

Because, I saw on many forums that people like to assassinate characters, rather than listen to the knowledge presented. For 10 years, I observed occasionally a couple of forums (with sometimes years of pause), where people discarded great teachers and chose bad actors instead.
That's why I would rather tell people how to find a good mentor than to show a persona.

Furthermore, people don't like to study charts and do their research (sometimes for years). They want quick fix for their problems with chart and psychology. This is how not to search for a mentor. No good mentor will push you to do things. No good mentor will assert themselves into your experience.

What I can do is to give you funny tools how to spot a bad one. Because almost every each of them uses known NLP tactics.

That's why I would recommend searching for a phrase like "cringe-fluencer", and as a standard watch "coffiezilla" videos from time to time, maybe "Mike Winnet" videos. "Scott Shafer" is also a nice guy. They are exposing bad mentors in other field, but sometimes they spot bad trading gurus as well.
By discarding bad mentors and knowing their tactics, it's easier to find a good one.

That's fair enough. Good luck

 

[noads]

Let's go even deeper into the subject.
When new people are searching for a trading mentor, some of them will say to you that, for example, "Fibonacci doesn't work". I've heard these statements a lot, "I don't know any trader who makes money using fibo".

It's a straw man argument. Just because somebody cannot make 1000 push-ups, doesn't mean that no one else can't.

Many trading gurus are like that. Saying that their own method only works, or that others doesn't.
You will probably not find a good mentor if you believe in this kind of exclusive approach.

My mentor, for example, wouldn't say, that because he uses Fibo, nobody can make money with moving averages. Nobody knows, because nobody knows every trader that exists.

When I started, I was doing a lot of research. Not what other mentors and trading gurus says. Not even opinion about them, but to just check partially their method on the charts. It was thousands of hours of pure research with my mouse. Sort of kinesthetic approach. I just wanted to know for myself. Never biased upon opinion of others.

Only when I've heard that some trading mentors were scamming others for big money, I never investigated their method on the chart.

The same was with trading performance psychology coaches. I couldn't understand most of what they were saying. Only after my 1k opened position, I was able to grasp some concepts about my psychology in trading and my behavior.

Why there are so many mentor scammers in trading today?
For me, it's because people want instant gratification. 99.9% of people would quit if they knew that only after 5 years of hard study you would be able to trade freely. Who heard about trading mentor that speaks like that? Who would even want to listen to him?

That's how you discern if a trading mentor is an honest guy. If he says that you can trade in 5 months, for me, it's a scam with 99% certainty. It means a lot to me, that he wants people who like instant gratification. And obviously, he doesn't want honest, hardworking people who would expose him.

So, how to find a good mentor? First, ask yourself if you even want to spend 5 years of your time to study charts and other things included in trading.

 

[Lord Flasheart]

Let's go even deeper into the subject.
When new people are searching for a trading mentor, some of them will say to you that, for example, "Fibonacci doesn't work". I've heard these statements a lot, "I don't know any trader who makes money using fibo".

It's a straw man argument. Just because somebody cannot make 1000 push-ups, doesn't mean that no one else can't.

Many trading gurus are like that. Saying that their own method only works, or that others doesn't.
You will probably not find a good mentor if you believe in this kind of exclusive approach.

My mentor, for example, wouldn't say, that because he uses Fibo, nobody can make money with moving averages. Nobody knows, because nobody knows every trader that exists.

When I started, I was doing a lot of research. Not what other mentors and trading gurus says. Not even opinion about them, but to just check partially their method on the charts. It was thousands of hours of pure research with my mouse. Sort of kinesthetic approach. I just wanted to know for myself. Never biased upon opinion of others.

Only when I've heard that some trading mentors were scamming others for big money, I never investigated their method on the chart.

The same was with trading performance psychology coaches. I couldn't understand most of what they were saying. Only after my 1k opened position, I was able to grasp some concepts about my psychology in trading and my behavior.

Why there are so many mentor scammers in trading today?
For me, it's because people want instant gratification. 99.9% of people would quit if they knew that only after 5 years of hard study you would be able to trade freely. Who heard about trading mentor that speaks like that? Who would even want to listen to him?

That's how you discern if a trading mentor is an honest guy. If he says that you can trade in 5 months, for me, it's a scam with 99% certainty. It means a lot to me, that he wants people who like instant gratification. And obviously, he doesn't want honest, hardworking people who would expose him.

So, how to find a good mentor? First, ask yourself if you even want to spend 5 years of your time to study charts and other things included in trading.

So what proof would you expect from your mentor? Surely it's one field where he has to be successful himself. He can't just tell you to watch screens for 5 years and look for this etc. Sure,If he said buy every day at 9.00am with a 20 pip stop etc he would be laughed at, but theres no reason to suggest something like that cant work. We only need to get to 55% on an even money trade to make money. To me they would have to supply a workable method that has strict boundaries as One of my most used methods is very simplistic as human input and opinion muddies the water. I do use price action and things that have taken me years to learn but I tried and avoid overly complicating it.

 

[1nvest]

If he says that you can trade in 5 months, for me, it's a scam with 99% certainty. It means a lot to me, that he wants people who like instant gratification. And obviously, he doesn't want honest, hardworking people who would expose him.

or of course, the mentor knows that there is a better way...
but no, lets not listen. lets all reinvent the wheel

 

[noads]

So what proof would you expect from your mentor? Surely it's one field where he has to be successful himself. He can't just tell you to watch screens for 5 years and look for this etc. Sure,If he said buy every day at 9.00am with a 20 pip stop etc he would be laughed at, but theres no reason to suggest something like that cant work. We only need to get to 55% on an even money trade to make money. To me they would have to supply a workable method that has strict boundaries as One of my most used methods is very simplistic as human input and opinion muddies the water. I do use price action and things that have taken me years to learn but I tried and avoid overly complicating it.

First proof should be about research.
For example, Steve Nison. Back in the days, he was an honest man teaching Japanese candles based on years of research. He simply stated that he is not a professional, but he likes to make the best of candles. He translated and researched candles for years, doing his own research on the chart, studying successful traders. Why would anybody discard his teachings only based on his track record. Maybe there are some traders using his method who are successful? If so, then he would be a good mentor to teach you about Japanese candles.
Better still, why not to make your own research back testing his knowledge? Why not to first take his free materials and research. If you like it, why not to buy his book? And if you proved to yourself that based upon your research it's a good knowledge, but you have questions, why not to buy his course or mentorship?
I'm just saying, I'm not promoting him, nor do I buy his courses. Just simple observation and resolution on how to find a good mentor.
Traders often think that they have to pay first and then... Why not to have cautious approach and use your discernment, researching first?
Who these days want to research? 0.001 percent of traders? I saw many (probably hundreds) wannabe crypto traders who didn't even research anything, just watching YouTube crypto videos, and putting money into Shiba Inu. Everybody saw it. Did it work for them?
Proof is in the charts, I don't have to believe, I just check on the charts if some method works or not. That's how I found a good mentors. It's a modular thing, you don't have to find one and marry him.
So, the real question is how to research charts and people. Then it's easy to find a good mentor or be a mentor to yourself.

 

[noads]

or of course, the mentor knows that there is a better way...
but no, lets not listen. lets all reinvent the wheel
View attachment 321385

The problem with your picture is that you assume that the ground is even and level.
In trading, there is no even ground, nor it's level and smooth. That's why sometimes putting a rectangle or triangle wheel is the best you can do, because it will suit the shape of the market. Many trading mentors are teaching straight diagonal or level lines as if the market is made of concrete floor. Almost every scamming trading guru teaches you trend lines, think about it!

 

[MonkeyMike]

Maybe it's already been answered here. Why it is needed to get a mentor anyway? To learn how to trade? It seems to me that you need to pave your own way here?

 

[noads]

Obviously, you need to be your own guru and mentor first. And you are, in a way, because you have the ultimate power to put any mentor as your authority. Mentors can help, but at this stage, the best mentor would be your uncle or father who trades, because you would be almost certain that he doesn't want to steal your money and want's the best for you now and in the future.
The funny note is that any scamming guru reading this is probably preparing a new name for himself, "Trading Uncle" or something similar.

 

[1nvest]

The problem with your picture is that you assume that the ground is even and level.
In trading, there is no even ground, nor it's level and smooth. That's why sometimes putting a rectangle or triangle wheel is the best you can do, because it will suit the shape of the market. Many trading mentors are teaching straight diagonal or level lines as if the market is made of concrete floor. Almost every scamming trading guru teaches you trend lines, think about it!

the problem in your picture is that anyone should they be told can be done in a shorter amount of time, is being scammed. thats not the case. ergo my analogy. and thus they set off looking to achieve their 10000 hours because anything less and my mentor cant be trusted.

 

[noads]

It's not about numbers. You won't look at numbers when you love what you do. Mentor can help, but also mentor can hinder your progress. Almost all my mentors were an obstacle. Only when I flipped what they were saying, the real progress began. I found my own patterns. Then I saw that even my bad mentors were good at the end, because I could learn how to question them and how to be independent. That's why if you take responsibility for your trading, everything will fall into place nicely, no matter what and no matter if you have mentors or not.
Learning takes time, but only if you measure it. If you don't measure time, you are free to truly learn. Whatever it takes, either it's 10k hours or 5k hours, you never know. Measuring takes time and if you measure yourself to other's standard, then your partial processing power will be taken, because you will be split into two things -measuring your progress and making progress in your trading.

5 years is an arbitrary number, but it's helpful for you and for your mentor. It's a test, for you to prepare and not rush, to be relaxed more, because you accepted that it takes time to learn.
For your mentor it's also a test, it's an indicator for him that you have the ability to endure long sustained focus, and that you are not stupid, living in reality as it is.
That's why if somebody accepts 10k rule or 5 or even 10 years to learn. He will paradoxically learn faster.

 

[1nvest]

That's why if somebody accepts 10k rule or 5 or even 10 years to learn. He will paradoxically learn faster.

accepting a rule as arbitrary as 10k (or any such number) is effectively accepting that every one of us has to reinvent the same wheel. say for example you spent your 10000 hours and you come up with a recipe that can be repeated time and time again. you become a mentor to someone. you want to ensure that he or she doesnt have to go through the mistakes you did. slashing his learning curve as he now has you to guide him

That's how you discern if a trading mentor is an honest guy. If he says that you can trade in 5 months, for me, it's a scam with 99% certainty. It means a lot to me, that he wants people who like instant gratification. And obviously, he doesn't want honest, hardworking people who would expose him.

now your mentor through his own experience has not found a holy grail, but you are able to learn from his past mistakes. surely the whole point of a mentor. you are now distrusting. with 99% certainty, as you too have to go through the same mistakes he did. because there cannot be a faster way

we will just have to agree to disagree. i believe there is value in listening and adopting. not in believing the status quo of 99% of all traders fail, or that you have to spend 10000 hours looking at charts. complete rubbish to me. listen, do your own diligence, and adopt. doesnt take 5 months. shouldnt take 5 weeks. rather than dismissing simply because you have accepted that all wheels are square

 

[tomorton]

I'm not a mentor, I've never had one, I don't think I've ever communicated with one. I don't believe they are scammers.

My message to new traders would be, if you think you will need a mentor to help you start trading you're wrong. Whatever trading approach you or they have in mind is too complex for a beginner.

Its also wrong to think a mentor is necessary to make big profits. In fact, while you are still a new trader you are not going to make big profits, forget this dream.

Paying big money to a mentor is probably a good way to slow down your progress in increasing profits.

You do not need a mentor to find a simple objective trading strategy. This does not need to be invented: in fact a new trader cannot possibly be competent to invent a new strategy that nobody has ever thought of and tried out before. It will take 1 day of Googling to find a range of starter strategies.

 

[Lord Flasheart]

I'm not a mentor, I've never had one, I don't think I've ever communicated with one. I don't believe they are scammers.

My message to new traders would be, if you think you will need a mentor to help you start trading you're wrong. Whatever trading approach you or they have in mind is too complex for a beginner.

Its also wrong to think a mentor is necessary to make big profits. In fact, while you are still a new trader you are not going to make big profits, forget this dream.

Paying big money to a mentor is probably a good way to slow down your progress in increasing profits.

You do not need a mentor to find a simple objective trading strategy. This does not need to be invented: in fact a new trader cannot possibly be competent to invent a new strategy that nobody has ever thought of and tried out before. It will take 1 day of Googling to find a range of starter strategies.

Great advice but I'm interested to know why you don't believe they are scammers. I do not believe they set up their business with the ideology of "i want to help people" They all start the career path to make money. BTW, I don't overly have a problem with someone charging to teach trading, it's the claims that go with it. E.g If you said you were charging say £ 300 for teaching basics for say 10 hrs basic forex training. That I could consider value.

 

[tomorton]

Great advice but I'm interested to know why you don't believe they are scammers. I do not believe they set up their business with the ideology of "i want to help people" They all start the career path to make money. BTW, I don't overly have a problem with someone charging to teach trading, it's the claims that go with it. E.g If you said you were charging say £ 300 for teaching basics for say 10 hrs basic forex training. That I could consider value.

For me a scammer is someone who sells something which the reasonably competent client cannot possibly make money with. Selling something which is poor value is not a scam, that's normal business - look at the price of designer sunglasses for example. But it could still even then be good value for some customers.

But selling faulty strategies is unnecessary when there are good free ones to pick up on the internet. It's a needless risk to operations and reputation.