The Benefits of Forex Mentoring

What are the benefits of Forex Mentoring? There are many benefits of Forex Mentoring if you choose the right mentor. The main benefits are to accelerate your learning and give you the confidence you need to enter and exit trades at the correct time, which in my opinion is the key to making consistent profits from trading Forex.

How many times do you enter a trade and the market moves against you? How many times do you say to yourself, if only id have waited a bit longer i could have got in at a much better price?

How many times are you entering trades and getting stopped out. If this is all too familiar to you then you should not be trading in my opinion. You are not understanding how the markets work correctly, and until you do, you will continue to lose money and get frustrated with your trading.

Let me tell you, i have been in this position, i have made losses and been frustrated with my trading, and many times have considered calling it a day, so you are not on your own. I would say that 90% of successful Forex traders have been in this position at some point. Forex trading is a very hard job to learn, and its very frustrating because of the potential to make a lot of money very quickly.

The majority of people do not invest the correct amount of time required to learn how to trade Forex correctly. They see the dollar signs and think ok i want some of that, and start trading. Professional traders love these people, they feed on them, they eat them up for breakfast, lunch, and dinner. Professional Forex traders earn a very good living at the expense of bad traders.

Despite what you may have been told, or may have read, Forex is a win lose business. If you win, someone else loses, its as simple as that. If you pull 10k out of the Forex market next week, you have taken that 10k off another trader, or a number of other traders. They may be bankers, hedge fund managers, or retail traders. To be honest they are more likely to be retail traders. :-)

So do you want to be a winner or a loser? Easy question to answer, you want to be a winner right? If you want to be a winner, you need to stop giving your money to professional traders, and learn how to trade like they do. Statistically 95% of Forex traders lose money, the 5% that make money are the pro’s.

Whats the difference between a Doctor, an Accountant, a Solicitor, an Architect, a Vet, a Plumber or a Builder. Apart from the job they do there is no difference at all. They were not born into their profession, they were trained to do their profession, and they were trained for a minimum of 4 years, and they were trained by an expert in their chosen field. Would you consider paying £1000, £2000, £5000 even, to enter a competition in which you would have to compete against any of these professionals, and the winner takes all. Would you consider entering a house building competition with a builder, i doubt you would. So why are you entering a Forex trading competition with professional Forex traders, if you have not been trained by a professional Forex trader? More often than not professional Forex traders have been trained by other traders. The best traders in the world are not self taught, all the best traders have been trained and mentored by someone.

Some of the best traders in the world work on Wall Street, or in the City of London, and they work for large banks, or hedge funds, and they earn millions per year. When you trade Forex you are competing with these guys. To be the best, you have to be trained by the best. These super traders started out making tea for other super traders, they sat there and watched these super traders make millions, day in day out for years, before they were allowed to trade their own real money accounts. They paid their dues, they did their apprenticeships. They were trained and mentored by other traders.

Now you don’t have to be a super trader to make a very good living from Forex trading, but you do have to know what they know, you do have to trade how they trade. You do have to be trained as they were trained. Next time you visit the Doctors or the Dentist, ask yourself if this person has been trained by another Doctor, or another Dentist, or have they just rented a room and put an advert in a local newspaper?

If you want to be a successful Forex trader, you need to be trained and mentored by another successful trader, its a simple as that. :-)

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