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Stock Market Coaching | Do You Need a Mentor? – Mindsets of a Master Trade Ep 205

My Thailand Trip

We got ourselves a guide, and in a way, a guide is a kind of like a mentor because they guide you through things.

We had some specific things that we wanted to see. We went around, and we said the things we’d love to see and they took us around.

There was one point when we were on our Thailand trip there was a weird little road that we wanted to get to. There’s a little bit of a bank area, hotel, where there were some sightseeings about a six-hour drive in this weird and funky road.

We started over in Bangkok, and then we went, and we drove. I think about the two to three-hour mark of getting into this up a mountain trip, and we had a breakdown. The axle of the wheel broke because the roads are weird and funky. We hit a bump – the axle broke, the tire fell off. We sat there on the road for a couple of hours while the guide went back to go ahead get himself another vehicle and then come back to pick us up. That way we could get back to our area where we wanted to go and see.

We were stranded for a time, but it allowed us to be at peace to go ahead and keep moving forward in our journey even though there were some delays. The guide took care of this whole problem – an issue that we had.

What is a mentor?

A mentor is a guide. They help you navigate the waters of trading.

If you’re looking for someone that’s just a little bit more experienced in the area, that’s really what a mentor is. That’s really what a coach is. They have some vision, some perspective – they know the land, they know the area, they know the region.

We wouldn’t have known how do we get a car to pick us up, what road to take. There’s a bunch of different routes that you could have taken. With no street signs, it’s tough to navigate a country in that way.

The same thing in the stock market world. It’s difficult to navigate if you don’t have the full perspective.

How do they help?

  • They show you the path;
  • They show you the risks;
  • How to pronounce things right, if you’re learning to read;
  • How do you do things;
  • What should you look at; and
  • What are the things that you need to focus on

That’s how mentors help you. They show you all of these different things.

Do I need one?

Do I need a mentor and guide? Do I need to spend money, spend the time, if I’m already getting these books and maybe courses? Do I need one?

The answer is NO.

You don’t need one.

We didn’t need a guide on our Thailand trip, but it would have been much more difficult. Say, for example, and someone would have to go back and figure out how to do the logistics of getting another vehicle. How to navigate the road and you get sidetracked. They help you stay away from getting into trouble.

There are some disadvantages to this because you then don’t get to explore things or randomly bump into things and see things for the beauty that they are as you’re taking a trip or as you’re learning the stock market. But you get a direct path.

It allows you to compress your time to get what you need out of it, rather than drifting away into other areas.

That’s the whole point of the guide.

Do you need one? No, you don’t need one.

But does it help compress your time, your education that learning curve? Yes, absolutely because they allow you to stay focused on the things that you need and the things that you want to see. The things that you want to learn, rather than drifting into other areas. They simplify things a little bit more.

When it comes to the stock market, mentors help compress your time that you need to spend on learning the market.

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