You can of course get into Forex on your own. But, it becomes easier when you have a mentor. A mentor can help you with insight from his/her experience, can become your accountability partner, and can even help you to build your own trading method.
You will find a lot of Forex mentors online. But, many of them are frauds. Therefore, you should be careful while choosing a Forex mentor. In this article, i will discuss about the qualities you should look for to find a good Forex mentor.
The Qualities of a good Forex Mentor
Here are some qualities that a good Forex mentor should have.
A good Forex mentor must prove that he/she knows what he/she is talking about. A good Forex mentor must also have a good track record of at least three years. He/she should present records to back up his/her claim. In addition, there should be testimonials from his/her students.
Your Forex mentor should be someone who can inspire you. He/she should be someone you an look up to. Mentoring should go beyond the scope of only Forex trading. You must be able to converse with your Forex mentor freely. These conversations should include your projected goals, aspirations, money management, even faith and relationships. Moreover, your mentor should have your best interests at heart. He/she should guide you toward your desired lifestyle.
You must be able to trust your Forex mentor. Otherwise, your relation is going to be doomed. You need to be able to open up to your mentor. You have to trust his/her judgment and advice. As you are most probably going to adopt your mentor’s business strategy, and he/she will be critiquing you, this is important. You are soon going to be a live trader. You need to question yourself, if you will be able to trust this person to teach you.
Forex market is not predictable. Anyone cannot guarantee you success. Therefore, if your Forex mentor promises 100% success to you, you need to think about his/her honesty. A good Forex mentor will never lie about things like this. He/she will help you understand the risks involved in Forex trading. It is his/her duty to make you prepared for this kind of situations.
A good Forex mentor should be able to make you confident. In addition, he/she should make you believe that you can stand on your own in the trading sector. At the end of the day, you are the one responsible for making the calls.
Finding a Forex mentor with all these qualities is not easy. Moreover, you will not see these qualities immediately when you first make contact with your mentor. However, you can try your luck by interacting with other traders.
There is one more option. You can learn from the best. I am talking about Jared Martinez, the FX chief. He has many years experience both as a trader and a mentor. You can take his online courses. You will find more details in his website, jaredmartinez.biz.