Some of the most successful forex traders will often attribute their success to finding a good forex mentor right at the start of their forex trading career. Indeed many of these people would not have become successful if they had been left to their own devices. So should you yourself consider paying to be trained by a forex mentor?
Well in my opinion this is one of the best investments you can possibly make. Forex trading is no different to any other profession in that if you want to become good at what you do, ie becoming a profitable trader in this case, then you need to pay for a decent education.
You can learn all about forex trading by visiting the various websites devoted to this subject, you can read a book or two, or you can pay for a forex training course, for example. However although many of these resources are great in theory, one thing many of them won’t do is to teach you a profitable trading method, which is where forex mentors come in.
A good mentor will not only teach you the basics but providing you are paying them for their services, they will generally share with you their highly profitable trading system as well. So even if you have to pay a few thousand dollars for this coaching, this initial outlay could potentially pay for itself many times over if you are actually given a good system, which of course you can use for the rest of your life.
The key to success is to spend lots of time finding someone who can mentor you. If you look online you will find lots of people, particularly on blogs, forums and chatrooms, who claim to be doing very well but you really want a highly successful trader who’s trading full-time and genuinely making consistent profits. These people are quite rare and don’t generally tend to waste their time in forums or chatrooms, for instance, but they can be discovered if you do your research.
The next step is to approach them and give them a proposition. You should remember that their time is very valuable so you certainly shouldn’t expect free mentoring, but a good offer may just be enough be tempt them into giving up some of their spare time.
As I’ve already said this investment could be the most important one you make because they will provide you with a complete education in forex trading. They will teach you all about money management, discipline and self-control, which are important attributes that you will need if you want to become a successful trader, and best of all they will share with you their profitable trading system(s) which has the potential to earn you a lot of money in the long run.
So the point is that you should definitely consider hiring a forex mentor if you want to become a highly profitable forex trader.
Click on the following link for free forex tips and strategies, including the exact 4 hour trading strategy that James Woolley uses himself to trade the markets: