Is a training mentor necessary for success?
The short answer? It’s up to you. Working with a mentor/coach can help push you to the next level. Your mentor will know where you need to go next to continue on your road to success. When you’re a beginner trader, it can be hard to tell what the next step is.
Having a mentor can help you overcome any plateaus you encounter in your learning process. A mentor can help you learn more quickly since they have the experience to guide you through new concepts.
What does mentoring look like?
I do a lot of mentoring here at Tradersfly. I could be talking to someone 1-2x a week, or even every day. Mentoring is highly individualistic – it works best when it is tailored for the client’s specific needs. We may share computer screens and work on the trades together or we could be exchanging emails or texts.
A good mentor can guide you through the processes of learning and growing. They can see where you need further development and help you achieve it. They can save you time, energy and grief.
If you want to accelerate your learning, a mentor can be very helpful.
But do you really need a mentor?
Personally, it took me 8-10 years to learn what I’ve learned. Having a good mentor can help you shave off some of that time. They’ve already tried and failed; they’ve made mistakes and have learned from them. Working with a mentor can be expensive in the short run – it can cost a few thousand dollars, but in the long run, you may end up shortening your learning process by several years by having a guide to work with you.
Bottom line – it’s up to you. You can do all your education on your own without the help of a mentor. Or you can decide to accelerate your education through having a good mentor.