The Importance of Having a Mentor

Filed under: Learn Forex Trading |

Everyone needs some kind of guidance when they start out in any field of business. Trading forex is a business, or at least it should be treated as one if you have any aspirations of becoming a full-time forex trader. So in that respect, when you are starting out, it is very important that you have some kind of mentor.

 

Now of course, unless you are very lucky, you probably don’t know anyone who successfully trades forex – so that leaves you in a quandary. Fortunately, there are other options. One of those options would be to join a community of active traders. Forex Live Room (www.forexliveroom.com) is a good one, but you do have to pay a hefty fee for the privilege. The ‘live room’ is a virtual room where you can talk to other traders and, if you like, share your trades as they happen. There are also a number of trading lessons taught throughout the day.

 

An alternative to a paid service such as this would be to join one of the many forex forums dotted about the Internet. There are many good ones, and you can learn a lot from some experienced traders. The James16 forum is a particularly famous one, but there are many others.

 

You could also join real mentors such as Nial Fuller or Steve Nison, who both run active and informative websites. The idea is to learn a little from everyone and then formulate your own trading methodology and style based on your personality. But when you first start out trading, it is also good just to know that others are being successful, so that you know what is possible if you stick with it. And once you no longer feel that you need help, then your education is complete and you will be a real, genuine trader!

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