Table of Contents
Let’s imagine you are going to a hill station for a holiday vacation . Now you want to explore all the unique and special tourist spots in that hill station .
Now the challenge is how do you find the unique and special tourist spots in the hill station ?
One way to do this is to ask the local people out there for the tourist spots in that hill station .
Second way is to google it and follow the google maps .
Third and the most effective way is to hire a tourist guide . Why it is best because he will help you to explore the most unique and special places than anyone could . Also a tourist guide will make your trip more memorable and enjoyable too .
In a similar manner , in order to learn and make money in the stock market trading .There are many ways to do it . But the most effective way is to hire the best trading mentor to help you succeed in stock market trading .
If you are struggling to make money in stock market trading , then this article is for you to understand the significance of having the best trading mentor in India.
Why do you need a one on one stock trading mentor ?
1) Decide best trading type for you
In the stock market world , there are different types of trading styles available such as scalping, intraday , swing trading and positional trading .
Before you start trading , you need to select which trading style will match your personality and whether you are able to do it depends upon your current financial state and your dreams in trading .
Trading mentor is the right one to sit with you and discuss to help you decide the trading style for you . Because he knows the pros and cons of different types of trading . Also by discussing with him , you understand the roadmap to becoming a successful trader.
2. Proven trading strategy
Let’s say you don’t want to spend money on a trading mentor and start learning by yourself .
Biggest challenge you face in this scenario is not getting a proven well back tested trading strategy .
Without a trading mentor , you can learn basics from YouTube and books but nobody in YouTube will teach you the proven trading strategy for free of cost . Because it takes a lot of time , energy and experience to create a proven trading strategy .
Trust me , I tried all those YouTube free trading strategies in the market . Nothing worked out . The YouTube content creators created those strategy videos just for the sake of views and likes.
Best trading mentor is the only one who can teach you his own proven trading strategy which he uses for making money in the stock market . Not only that, he can make you understand that strategy completely and help you master the strategy by correcting the mistake you are making in that trading strategy .
3. Trading mindset
Every single successful trader in the stock market follows the winning mindset whereas the 99% newbie traders follow the losing mindset .
Trading mentor can help you create a trading journal and guide you with your mistakes .He will hold your hand , until you cross the phase from losses to breakeven to profitable trader .
If you follow the mindset and beliefs of all different traders on Instagram , You easily get confused . Because one guy will tell you to book your profits and another will tell you to trail your Stoploss in a trade .
Trading mentor not only will give you trading strategy and also gives a winning mindset to be able outsmart all other traders in the market .
Who is a Best Trading mentor ?
The best trading mentor is a profitable trader who will teach , guide and mentor other struggling traders to make them build a successful career in stock market trading .
Trading mentor should have true passion and skills for mentoring the students by understanding their dreams in the stock market .
Do all the trading mentors in India are best?
Definitely No
That is why we have listed down the qualities and skills of a best trading mentor.
Qualities and skills of the Best Trading Mentor
Profitable stock trader
Trading mentor should be a profitable trader . If he doesn’t know how to make money consistently from the stock market , then how is it possible to help you to become profitable? So it is important to check whether the trading mentor is making money consistently from stock trading.
Teaching skills
Let’s imagine 50 students are in a classroom . Everyone has a different learning capacity and different mentality . So it is important to teach all the people individually with a unique way of teaching .
So, Trading mentor should definitely have teaching skills . Otherwise it is very tough for a beginner to grasp the strategies he taught and implement it in live trading to make money .
Best mentor and guide
As a newbie trader , if you have a following questions running in your mind .
Which stocks to trade from ?
Which broker to use for trading ?
What type of trading strategy to use ?
whether to do intraday or swing trading for my personality ?
How to control my risks ?
Best person to answer all the questions especially for you is your trading mentor.
When you are going in a wrong direction i.e following wrong people in the stock market . Trading mentor should be able to put you in the right direction and guide you not to make mistakes .
Mindset and thought process
“In stock market , Strategy is 10% , mindset is 90% “
Even though you have the best trading strategy with a very high winning rate , you will definitely fail in the stock market if you don’t possess the winner mindset and thought process of a successful trader. So you should learn mindset and thought process from your trading mentor.
Support system
Many fake gurus sell some prerecorded courses which will not help you become profitable in your trading career . So make sure you are getting live interactions with your mentor and able to ask all your doubts from him personally through voice or video call.
Best trading mentor is one who will support you in one to one sessions . Because everyone has different financial levels , different goals and different situations .
Independent profitable trader
The last quality of a stock trading mentor is to help you become an independent stock trader . Because many mentors make their students dependent on them through some scanners for making recurring money .
If that is the case , then you are dependent on your mentor’s scanner and once your mentor disappears . You will again make losses in stock trading. So it is very important to make sure that a mentor will make you an independent profitable stock trader.
How to find a mentor for stock trading ?
“Half the battle is won , if you find a right trading mentor for you “
The most important element in becoming a successful trader is to find the best trading mentor for yourself . This process of finding a mentor can take time but it is important to find the right mentor, not just any random guy .
Now you have understood why a trading mentor is important for your trading success and also the qualities of the best trading mentor . Start searching for that mentor in the below mentioned way .
But remember while you select your trading mentor , he should inspire you to become better in the stock market trading .
1) Mentor for trading from friends and family
Do you remember while joining college for your undergraduate degree , you would have enquired about the best courses and college from your friends and family .Because it is a very important step in your career .
In a similar manner , you have to enquire lots of your friends and find the best trading mentor for yourself from your friends , colleagues and family .
2. Mentor for trading in online platforms
In today’s Internet world , you can find and enquire about anything in a matter of seconds .
You have to find a trading mentor from Instagram, YouTube and other social media platforms with all the qualities of the best trading mentor mentioned in my article .
Don’t just search on Instagram and hire your mentor . Start following the mentor for a few weeks and follow his content regularly . Make sure he genuinely wanted to help other traders irrespective of only making money from courses .
Conclusion :
“Best investment is investing money in self development”
If you trade in the stock market without learning , you are going to lose money for sure. Instead of losing that money in trading , first find a best trading mentor , invest time and money to learn trading
One good trading mentor can help you cut your learning curve and put you in a very good level than the other traders in the stock market .
Nowadays , coaching how to trade has become a big business . Many fake coaches are only doing it to make money instead of helping the traders to become successful.
It is very important to check the qualities and skills of a best trading mentor , before you pay and hire a mentor .
Once you have found your best trading mentor , the next step is to surrender yourself to him and follow him 100% . That’s the only and fastest way to become a successful trader in the stock market.
If you commit yourself to a best trading mentor , you are definitely going to rule the stock trading world.