By Your Trading Mentor,
Obviously I am your forex trading mentor in forex-blog-world but as there is only one of me and many traders to help, it would be impossible for me to be everyones forex mentor one to one, as much as I would love that. Plus picking the right forex mentor for you is a very personal choice and there are a few things to consider. So in this post we are going to look at what a forex trading mentor is, what makes a good trading mentor, where you can find the right trading mentor for you, and what your other options are if you decide not to invest in trading mentorship.
ONE OF THE GREATEST LIFE HACKS AVAILABLE
Firstly, what is a forex trading mentor? A mentor is anyone who is closer to where you want to be then you are at the moment. Or they are exactly where you want to be. A trading mentor can be someone with just a couple years more experience than you, or someone with many more years experience. Ultimately, getting a mentor in any area is really one of the greatest life hacks there is. Having a good mentor is excellent leverage getting to the next stage in your career. Some careers are so difficult to climb that it’s almost impossible to do without a mentor. And most of the time it’s just easier and quicker to succeed if you do have a mentor.
TRADERS DON’T LIVE LONG ENOUGH TO SPEND THEIR MONEY – APPARENTLY
Trading isn’t easy which is why it’s one of the careers choices where it is advisable to have a trading mentor. When I first started learning how to trade forex I remember that one of the key piece of advice I was given was to get myself a trading mentor. And guess what? I’m so stubborn I actually didn’t listen and decided to self teach. Which I do regret a bit. Later on in my forex trading journey I did end up paying for a trading mentor and I realise now with hindsight, that the time I saved getting to where I wanted to be was well worth the money I spent.
If you are unfamiliar with my forex trading journey then here is a bit of background:
I first started reading about forex trading in 2015 but I had been interested in it since about 2005. I remember when I was at school and was told I needed to think about what I wanted to do with my life I immediately asked the question ‘well, what job pays the best?’. One of my friends who I considered to be a lot smarter than me, told me that forex traders made A LOT of money. So I said ‘that’s settled, I’ll be a forex trader’ but then she told me that they often died early because of the stress. So I weighted it up as an option and decided it probably wasn’t worth making all that money if I wasn’t going to live long enough to spend it, so I ruled forex trading out for the time being and decided to work in radio instead, because it sounded fun.
By the time I realised there wasn’t enough money in radio to live comfortably on in the UK, and in particular, in the South East of England in an expensive seaside town called Brighton, most of my twenties had gone by and I was hesitant to start paying lots of money for expensive trading courses or investing in trading mentors if I wasn’t 100% sure it was going to pay off. So I went the half hearted route into forex trading and self taught thinking I was being clever and hedging against the possibility that I might not actually be good enough to make it as a full time trader.
There are elements of this approach which I stand by today as being clever. I didn’t spend a lot of money on my trading education which was a big plus as I didn’t have a lot of money to spend. I decided I wanted to learn how to trade forex because I needed more money so giving over all the money I didn’t have for something that might not work seemed too big a risk.
On the flip side, I realise that learning to trade is like most skills in life, the more you practice, the better you get, and if you can learn from someone else who has been there, you can save yourself a lot of time in the process. I do wish I’d invested in a trading mentor sooner.
Overall the process of learning to trade forex took a lot longer than I had expected but I also realise that I went the very very long way around things. I didn’t have the money at the time to invest in a trading mentor but I wish I had at least started talking to other traders sooner as there really is no quicker way to learn then from someone who has already been there. When I started my trading business, Trading Angel in 2019, I wanted it to be the service which I wish I’d had for myself when I first started trading forex.
WHY DID PAYING FOR A MENTOR SAVE ME SO MUCH TIME
When I did eventually decide to fork out for a trading mentor of my own, it was because I had done a lot of work to teach myself and master technical analysis but I realised there was bit of a gap in my knowledge when it came to fundamental analysis. I did search all over YouTube to try and find a good channel which could help explain how news affects the forex markets but I struggled to find one which gave a clear answer. Eventually I found a trading mentor who had actually worked as an institutional trader for 15 years and was very knowledgable about macroeconomics and how news releases such as interest rates decision affect the long term direction of the currency pairs.
Firstly, and very obviously, what saved me time here was that he had 15 years of experience working at institutional level which I didn’t have and lets be honest, I wasn’t prepared to do. So, he was able to sum up those years of experience for me in a few hours and really just tell me the key points which I needed to know. He told me all the big mistakes which he made and how not to make them and little things to focus on which I would never have thought about before.
15 YEARS EXPERIENCE SUMMED UP IN ONE MINUTE
I remember well the day when I decided that I wanted to pay him to teach me. We were on a zoom call having a catch up from one trader to another, and we discussed the fact that we had both taken a position on USDJPY. There was a big explosive move up followed by a move down afterward. We took opposite positions on the trade and both made money. He bought the big explosive move up and I traded the reversal. I was a bit jealous he’d caught the big move and I had traded the weaker one. So I asked him how he knew the market was going to explode up. It took him about one minute to explain to me and to show me, and the pattern he showed me is to this day, one of my favourites to trade. So I was sold! I’m a big fan of learning to trade from YouTube or free content where possible but getting that very impactful and concise direction from an expert is really priceless.
If you are just starting your forex journey and you’re hesitant to invest in a forex mentor, like I was when I first started trading, then my best suggestion is to watch as many YouTube videos as possible and read as many books as possible. This is the probably the least expensive way to learn from other traders. I release new YouTube videos on trading the financial markets very week, you can subscribe to Trading Angel’s channel here:
WHAT MAKES A GOOD TRADING MENTOR?
A good trading mentor is a really personal choice. We all have different learning styles so it’s really important you take your time selecting someone who you feel can teach you in the way that you need to learn. Firstly, you want to make sure you pick someone who is getting results or at the very least has been able to get good results from their mentees, someone who can prove both is ideal. It’s worth taking the time to read reviews and testimonials to see what experience other people have had with their trading mentor before you invest in one yourself.
HOW TO FIND A TRADING MENTOR
Unless you are working in finance you may not come across many trading mentors in your day to day life which means you may need to do a bit of research in order to find one. First things first, Google is a wonderful search engine, you might have heard of it. Type in trading mentor followed by the country you are in and see who comes up on the top page. You may need to read a few profiles and reviews before you find the one which resonates with your learning style and specific needs. Although most mentoring for trading is done remotely these days on zoom, the reason why I suggest typing in your country is so that you find someone with no language barriers or run into difficulties with someone in a different time zone. So for example, if I was to look for a forex trading mentor I might type into Google “trading mentor UK”.
Another way you can find a trading mentor is on social media sites like YouTube, TikTok or Instagram. Just be really careful as a lot of trading mentors these days have scammers copying their profiles daily in order to try and get money out of people by pretending its trading money. So if you do decide to use social media always make sure you find the original profile of the person you are following and not one of the copy cat accounts. My real instagram account is @trading_angel_caroline but there are countless fakes out there just adding an extra ‘I’ or a dash. Here are the links to all of my social media sites:
My Instagram: https://www.instagram.com/trading_angel_caroline/
Trading Angel Instagram: https://www.instagram.com/trading_angel
Another place you could look for a trading mentor is at trading events. These are networking events where traders can meet up. I met my trading mentor at an event put on by a forex broker where a few traders where giving presentations on trading. These can be great places to network and often they are completely free.
IS GETTING A TRADING MENTOR THE RIGHT CHOICE FOR YOU?
Often getting a trading mentor is not a cheap endeavour but it can be worth it. Just make sure you aren’t throwing money at the furness. If you are not ready to invest the time into practicing what you have learned then it might not be the right time for you to invest in coaching.
Also, if you have a difficult work schedule and you don’t even have regular spaces in it to meet with your trading mentor you might be better off opting for an online trading course instead. If you go for a trading course then you have the option of watching the videos as many times as you like and also when you have the time. Make sure you check what the limitations are on the trading course as some will only allow you to log in for three month or a year. I have created a forex trading course for my mentees to be able to rewatch the video classes as many times as they like and there is no time limit at all.
If you’re interested in this option here are the details:
WHAT’S INCLUDED IN TRADING ANGEL ACADEMY
Trading Angel Academy teaches you through an online video course by your trading mentor a step by step guide to trading forex like a Trading Angel. This is a comprehensive programme which not only teaches you the three strategies which I have been using in my day to day trading for the past three years but also offers you a clear structure for your day and how to prioritise and manage your day as a trader.
Trading Angel Academy is £950, this is what you will receive with this offer:
- You will be given lifetime access, as long as the course is up and the platform is running you can log in and access the content. There is no time limit or time restrictions
- 3 strategies with printable rules and checklists, if any additional strategies are added to Trading Angel Academy over time you will get automatic free access
- Step by Step video guides on how to trade like a Trading Angel for you to re-watch as many times as you like
- Stages Of A Trading Angel Trade – a clear 7step structured guideline of the stages you need to be going through for each trade, this guideline was created by your trading mentor specifically for this programme
- Downloadable or printable Stages Of A Trade guideline so you can keep this at your trading desk to refer back when needed
- Clear guidance on how to structure your day if you want to trade like your trading mentor
- Guidance on how to transition to either a part time or full time trader
- Separate videos for each trading tool or indicator used making it easy to rewatch the sections you need the most
- Monthly updated Economical Calendar Cheat Sheet
- Priority to attend Live Trading Sessions – in these you can watch your trading mentor looking for and placing the set ups you have learned in the video tutorials. This is a great bonus to allow you to see exactly what the process of looking for and placing trades should look like and an excellent opportunity to ask your trading mentor any questions
- Discount on 1-2-1 trading sessions with your trading mentor
- Free automatic access to any updates and improvements made on this course by your trading mentor
You can sign up to Trading Angel Academy here:
Love From, Your Trading Mentor x
Trading Angel has mentored and coached over 100 traders and understands that most people who decide to start trading the financial markets often do so from a place of frustration where they are currently at. Often they feel over worked and tired in their current job and are looking for a way to spend more time with their family, go traveling, or work on a passion project. Understanding that your time is valuable to you, Trading Angel’s mentorship programme was created with the mission of saving traders as much time as possible on their journey learning how to trade forex and the other financial markets. All the best sports people have coaches and all the best entrepreneurs had mentors including Elon Musk who had several mentors, Steve Jobs mentored Mark Zuckerberg, Warren Buffet mentored Bill Gates and Dumbledore was Harry Potter’s mentor!