3 Reasons Why You Must Have a Trading Mentor
Why every organization invests time and effort in training every new employee? Is it beneficial only to the organization? Organizations provide the training and probation period so that people can learn the skills which help in better productivity and efficiency. It is beneficial for the employees as well. They can work smoothly without making blunders.
Similarly, every new trader needs proper guidance and knowledge. Seeking help from the expert trader brings more desirous results. People know how tough the trading is, and not investing in education and training can lead to the hefty loss. To learn different techniques one should listen to read books, business podcasts, or take classes from organizations like Certus Trading reviews a trading education company lead by Matt Choi a self-taught, professional trader with over more than two decades of trading experience. Another alternative is to utilize social trading where you can find lots of trader profiles that you can follow and copy. eToro has this feature with over 20 million traders so there’s a lot of portfolios to check out (more info here).
Learn from their knowledge and experience:
The biggest mistake people do is by avoiding mentors. They do not want to spend money on fees. Many people consider that knowledge from Google and YouTube is enough to gain expertise and dive into trading. Yes, online platforms are a wonderful source of information but do not forget that an experienced and expert individual knows practical knowledge. They know the tips and tricks to succeed.
George Lucas, Movie Director of Star Wars: Episode II – Attack of the Clones, once noted “Mentors have a way of seeing more of our faults that we would like. It’s the only way we grow.”
An expert has hands-on experience in analyzing stocks and price history. You will get the chance to learn from their mistakes and hence helps in improving the performance.
Thought changing experience with the success in life and trading:
There is a difference between a high achieving individual and a new entrepreneur. When people work with them, they notice the difference in the way they think, the way they behave, and the positivity they have all the time, no matter what the situation is.
Trading requires persistence and a positive outlook. Many beginners fail to have these traits but working with mentors helps them to change the perception that is beneficial not in the profession but for the whole life.
They help to implement the right strategies at the right time. Also, they will help in improvising the research skills as well as all other parameters that you have to observe for the perfect trader.
Support and Encouragement:
Many new traders are enthusiastic. The real picture is entirely different. Many people will trade based on an intuition that will not work, and many people will give up while suffering a loss.
An expert will help in motivating people and help them realize that even an experienced individual makes a mistake and lose the money.
In trading, people should know that they can incur losses as well, not every time they are going to make a profit. Taking guidance from the expert helps to reduce the chances of losing and help them improving the risk-taking ability.