Why You
Need A Forex Mentor
Forex trading involves buying one currency while selling another
concurrently. With all the hype about Forex and the easy access to its markets,
many laypersons familiar with stock trading are viewing Forex trading as an
attractive alternative. Key reasons for the popularity of Forex trading
include: 24-hour market; plenty of liquidity; small start-up capital; leveraged
trading; trade in your time zone; good trade setups everyday; and low
transaction costs.
However, the downside is that while Forex trading looks easy, it
is in fact not easy to learn, especially on your own. Of course there are the
few good traders that are self-taught, but the majority ends up paying
expensive lessons for the Forex markets to "teach" them how to trade.
Can this be avoided?
There is a plethora of Forex training seminars, e-courses,
training videos, Forex how-to books, etc, that are offered both online and
offline. Each commands a different price, but you should not judge on price
alone on the suitability of the offer. More importantly, you have to find a
method of teaching which enables you to learn well. Before purchasing, always
examine and compare various offers to find the one you are comfortable with.
As most seminars, books and videos target a general audience, be
aware that you might not be properly trained and mentally prepared for real
trading even though you have digested every bit of knowledge being dispensed.
Quite often, you can be left with questions and doubts that could not be
addressed by learning to trade via these channels.
Enter the Forex mentor: a teacher, guide and companion on your
Forex learning and mastery journey. The mentor leverages his/her trading
experiences to teach you necessary skills and knowledge for successful Forex
trading. Armed with many past successes and failures as examples, the mentor
will show you the good, bad and ugly of trading and impart valuable lessons
from these.
A Forex mentor helps you to establish what trading methods
resonate well with you and helps you put them into action. Doing this can
actually help you become profitable sooner, which is a real boost to your Forex
education and trading account as well. You save many hours of needless trials
and errors, get your doubts clarified and questions answered, and avoid doing
trading research that usually leads nowhere.
More importantly, your Forex mentor is someone who has an
interest to see you succeed. In a mentor, you get a real person coaching you
one on one; when you learn trading on your own, you have to contend with online
forums or Email type of "answering service" that often cannot address
the difficulties you face as a trader. Your mentor keeps you on track with
defined trading goals and gives you feedback on how you are doing as a trader.
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