Do you want to improve your trading…
…but don’t know where to start?
Then perhaps you need a personal coach.
But how do you find a trading mentor? and can it really improve your results?
Let’s take a closer look.
You don’t have to be great to start. But you do have to start to be great!
Becoming a successful trader requires capital, dedication, skill, knowledge, experience, discipline and a good old dose of lady luck!
So why do so many people fail to make money from trading?
Before we answer this, let’s consider why people want to trade.
I don’t need a trading mentor
I first discovered trading in 2017 during a conversation with a work colleague.
Bitcoin was now mainstream news and he described how he had made 50% gains in Crypto currency.
I was soon to begin an obsessive relationship that would see me fall in and out of love with trading.
In recent years I had tried various endeavours to make a second income and being a trader seemed like an exciting space to be in.
Oddly, my main motivation to trade was not money.
I simply liked the idea of being a day trader, the thrill of looking at charts and being my own boss.
I read many stories of people making a living by working only a couple of hours a day.
I was sold!
The idea seemed simple. Place a trade on whether price will move up or down.
How could I fail not to make money.
Full of confidence and determination I began researching how to trade using technical analysis.
Like most traders without a mentor, I watched hours of YouTube videos and read online training material on candlestick patterns.
A trading lesson
I’m naturally a cautious person, even more so when money is concerned. But trading is addictive, it’s like a drug.
After months of studying the markets and learning various strategies I was ready to trade using a live account.
My initial trading results were fairly positive.
I had a win rate of about 70% (which should have rang alarm bells!). This soon changed after I learned my first fundamental lesson in trading – always use a stop loss.
A few trades later and I had lost all of my initial investment and was left hodling a few alt coins of little value.
I’m positive my losses would have been less if I had known how to find a trading mentor.
How to find a trading mentor that suits you?
What is a mentor?
Mentorship is a relationship in which a more experienced or more knowledgeable person helps to guide a less experienced or less knowledgeable person. The mentor may be older or younger than the person being mentored, but he or she must have a certain area of expertise.source: wikipedia.org
Crypto Coin Trader
Most new traders take to Social Media groups in search of advice.
One of the largest Facebook groups is Crypto Coin Trader.
With over 100,000 members it has a big influence in the trading community.
The problem with this approach is you receive conflicting opinions and nonconstructive feedback.
In some cases you may get trolled!
In 2019 Crypto Coin Trader released it’s mentorship programme.
Here’s how it works.
Select the mentorship tab from the left hand menu.
Find a partner by browsing profiles of potential mentorship partners and contact someone who seems like they could be a good fit.
You can search through users who have signed up as a mentor.
Each profile includes a short bio, location and areas of experience.
To request a mentor you must create a profile first.
Select ‘Get Support’.
You’ll be asked to write a summary of what you want to learn.
Next, add the topics that you would like support with.
After creating your profile you can request to be mentored.
Crypto Coin Trader also supports traders who wish to become a mentor.
Simply select ‘Offer Support’, fill out your profile and share your experience to help other group members.
The mentorship program was in its infancy at the time of this blog.
Have you tried it? If so, tell us how it went in the comments below.
Telegram was launched in 2013 and can host large communities.
Unlike other messaging services there is no limit to the number of members who can join.
Telegram provides a simple platform to post messages, share files and much more.
In trading, Telegram groups are often used to post and share signals.
Finding a reliable and trust worthy trading coach through this tool is difficult.
On Course Trading
Mentorship is about receiving private tuition and having access to tailored feedback.
That’s where we can help.
At OnCourseTrading we provide online trading lessons with experienced traders.
Our trading Instructors deliver remote training over readily available conferencing software through private 1-2-1 sessions.
Simply find a trading coach, book a lesson and learn to trade.
As a student you choose how, when and what you want to learn about the financial markets.
Before you begin, consider what you want from your mentor.
Use this checklist to help you find your trading coach.
1. Choose your trading style
There are hundreds of ways to make money in the market, but nearly all of them are extremely difficult to do consistently.
Your first decision is to decide on your trading style.
Will it be technical or fundamental analysis?
How about swing trading?
Maybe you fancy dabbling in arbitrage or scalping.
Whatever you choose, it must suit your personality and emotional state.
2. Find an experienced trader
Next up is to find an experienced mentor with a proven track record.
At OnCourseTrading we provide online courses on a range of subjects and trading styles.
Before you purchase a course read the Instructors bio and check they have the relevant experience you need.
Next, search for a course and read the course curriculum. You can message the Instructor questions and in some cases they may have a forum linked to their course.
It’s obvious that you must be confident your mentor has the skills, knowledge and ability to teach you in your chosen subject.
3. Learn how to trade like a pro
Once you’ve found your course it’s time to book your lessons.
Your mentor will provide private tuition on your chosen course subject.
You’ll have exclusive access to a trading professional in their specialist area(s).
Remember a mentor is there to guide you and improve your knowledge. They are not there to provide signals or trade on your behalf. Make sure you do your own research and never share financial information.
Now go find a course! good luck!
Become a mentor
Do you have the experience and knowledge to teach people how to trade?
If so, we would like to hear from you.
You can sign up as an Instructor and start earning money with instant payments.
Everyone has the ability to become successful given the right tools and opportunity.
How to find a trading mentor is easy but don’t just take my word, discover it for yourself and take your trading to the next level with OnCourseTrading.