How to Choose a Mentor? (I Think)

[edgararakelyan 10]

I've been following Traderflorida on stocktwits and he's been having webinars and I've learned so freakin much from them. He makes over 7 figures a year so yea he's pretty successful.

[autotrader1 10]

Traders must be cautious when choosing a mentor online. there are many fraudster and scammers claiming that they can teach you to trade with profits. I personally dont trust them. If they are so good why they mentor others; they can easily made millions or perhaps billions themselves. So traders here have to be extra cautious. Instead of getting a mentor why not invest in a good EA or robot.

[DbPhoenix 42]

How do you know he makes over 7 figures?

 

You need a new avatar:

[seberbach 10]

If you know he makes over "7 figures", call it "warp 7", it is simply common sense that you also know he does not need your money in order to mentor you, if he really wants to mentor you.

If he does not really want to mentor you, he is really not the right choice of mentor for you.

[DbPhoenix 42]

Maybe. Maybe not. But you do know what evil lurks in the hearts of men.

 

If not, there's always the Green Hornet. At least he has a car.

[Seeker 11]

What about that age old saying: When you're ready the teacher will come.

 

I'm not sure how one goes about choosing a mentor. I'd think that this mentor needs to be successful at what they are mentoring. Very few traders will ever show you that they are successful, or how successful they are. Less than 1% are long term successful. And of that 1%, an even smaller % of that is highly successful (little drawdown etc), and a tiny fraction would be willing to show you their results and just how successful they are. So good luck with that!

 

I don't agree with the comments that a mentor can't be helpful. Yes we all have to put in the hard work, and without that, there's little chance of success, and yes in some sense a lot of the information is out there on the internet or whatever. But isn't a mentor's job to filter out the chaff for you, and to respond to individual problems you are having in understanding.

 

People that are highly successful in trading are already rare enough. How many do you think there are on this forum in total? People that are highly successful AND willing to give up large amounts of their time to mentor you through all of this...well you'll be lucky if you ever find one. I have never been that lucky, although some good traders have thrown me a bone over the years which has helped, and I'm grateful for that.