It is no secret that a trading mentor is integral to finding consistency. Every successful individual throughout history had a mentor. Paul Tudor Jones had Eli Tullis. Warren Buffet, Benjamin Graham. Michael Jordan, Howard White.
There is no reason to try to figure out something as difficult as trading all by yourself. With the internet, there is no excuse to make all the mistakes yourself instead of learning from others to shorten your learning curve.
When you look for a mentor, it is critical to understand what to look for and HOW to use one. Most make 2 common mistakes when using a mentor. And this is often the reason why so many traders fail despite investing in trading education. Here the 2 most common ways traders incorrectly use their trading mentor:
The BIGGEST Mistake Most Traders Make
Most new traders have this mindset about joining a trading service: “If I do what he does, I will have the same results, and make the same amount of money.”
This couldn’t be further from the truth. Copying a successful trader’s strategy and trades will NOT make you money consistently. Here is why: The reason Kunal is a successful trader is because he has created and refined a trading strategy suited to his personality and lifestyle. He has personalized a trading strategy that can consistently make him money.
He is a momentum day trader that likes to make trades that take just a few minutes, and scale quickly in and out. The strategy does NOT work for everyone. and many of our students have struggled because they have tried to copy his trades when they are in our chatroom.
Instead, our most successful students learn the PROCESS of creating your own successful trading system. They learn how to master your own strengths and weaknesses and build a trading plan based on what works for them.
We will show you patterns and strategies that work, but it is up to you to refine it and make it work for your personality and your lifestyle. No trading service can make you a profitable trader overnight. You have to put in the work yourself. For more tips on how to find a trading niche, check out this article here.
Underutilizing Their Trading Mentor
Believe it or not, in every single trading boot camp, there are people who don’t engage and ask questions even though they are struggling. In most trading chatrooms, only 20% of the people in the chatroom are conversing and sharing ideas.
The other 80% are just sitting around waiting for someone to throw them to spit out a hot pick, or they are too scared to ask questions because they don’t want to admit they are struggling.
When you pay money for trading education, you cannot be afraid to ask questions and admit that you are lost. In a chatroom, it’s easy to feel like that everyone is winning and you’re the only one losing.
The reality is the opposite. This is a game where 95% of people fail. In every trading community, there is always a group of individuals who are struggling. Even the best traders in our community have off days. Share your issues openly.
Put Your Ego Aside
Most people are too prideful to admit they are a struggling trader. When someone in your family asks how trading is going, what do you say? We know how it goes. You never tell them what’s REALLY going on.
Unfortunately, most are the same way when they join a trading community. They only share their winners and hide their losers and red days. Put your ego aside. Admit you are struggling. This the FIRST step to becoming a profitable trader.
There is not a single chatroom out there where every single trader is profitable. You can message Kunal, Szaman, or any of the other successful traders in chatroom whenever you want. You can even call or text Kunal. If you cannot reach your mentor by phone, he’s not really your mentor.
We are here to answer all of your questions. If you have a major issue in your trading, don’t just try to struggle with it yourself. Get help and guidance. Don’t waste the opportunity in front of you. Engage your trading mentor as much as you can. Talk about your struggles. Share your losses. Be transparent. You’re only cheating yourself.
Get Started With Our Free Trading Kit
Our trading kit is the best free resource out there for new and struggling traders. It includes:
- Intro to Trading Course
- Comprehensive Trading Handbook
- Trading Consultation