How to choose the right mentor at trading

Everyone knows trading is a very risky business. If you actively notice the website of any brokerage firm, you must have read the fair warning that tells you that trading CFDs, Forex and financial instruments in a leverage medium involves a great deal of risk. Even after having this bold warning on the website, people are still learning to trade the market by themselves. They are using free resources to educate themselves and trading with their savings. This is one of the key reason why rookies in the United Kingdom are failing to earn money from trading. You need a professional guideline to secure your investment. Most importantly, you should have the skillset to find potential trade setups based on low-risk profile. This is where things become a little bit tricky.

You can’t get into deep of this investment business within a short period without the help of the professional trader. Just with the help of a professional mentor, you can expect to trade like a pro trader in less than a year. So, how do we chose the right mentor? Read this article and you will get your answer.

Find the successful trader

Before you start looking for the mentor, you need to start looking for successful traders. Thousands of traders are claiming that they can teach you Forex even though they have blown up the trading accounts multiple times. Never believe in the sweet lies of such people. Look for successful traders in the social trading networking site and seek their help. Some of the senior and expert traders often offer trading courses to the naïve traders since it helps them to earn some extra money. Most importantly it allows them to have a decent time. Being a successful trader, they don’t have to do tons of hard work. Some love to enjoy their spare time by teaching new traders.

Search for the top analyst

You can find some great trades by accessing reputed Forex brokers’ websites like Saxo. Visit their website here and you will see that few peoples are posting analysis on the financial instrument regularly. Follow their technical and fundamental analysis. Assess their signals and see whether the market truly behaves according to their suggested price movement. If you feel confident with their trading approach, feel free to seek help from them. Some of the professional analysts might not be interested in teaching you the art of trading, but you should never lose hope. By doing some basic research you can easily find a great mentor who can give you a clear guideline about this market.

Your mentor must be an active trader

Some of you might have spent a decent amount of money trying to learn the art of trading from online mentors. But eventually, you will have failed to learn anything new since your mentor is not an active trader. If you want to find a good mentor, make sure your mentor is an active trader. Unless your mentor has the right skills, they won’t be able to trade the market profitably. So, chose a mentor who has a proven track record in the financial industry and many years of expirence. Unless the mentor can provide you verified record of their past trades, you should not spend money to learn trading from such a mentor.

Reviews and feedback

A good mentor always has a strong online presence. Before you enroll in a trading course, make sure the mentor has a strong reputation in the online industry. You should not try to trade with such a person who is not recognized by any traders in the trading network. A good mentor who has tons of positive feedback from naïve traders always works hard to bring change in your life. So, focus on this factor while choosing your Forex mentor.

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