As in any exciting and difficult venture you will take in your life, you will need someone to talk to about your struggles and ask for advice. Currency exchange is no exception. Finding the best forex mentor is more of a journey than a transaction. Many forex mentors promise (crazy) results in a matter of months. My opinion is that they are just trying to pull a quick one on you and take your money. A forex mentor should be honest and tell you that currency exchange will be one of the most exciting, emotional and challenging things you have ever done. People who teach anything, including currency exchange, should do it out of goodness. The best mentors teach because they love it, not money.
Questions to Ask a Forex Mentor
What is your overall forex strategy?
What is your stance on day trading?
How many years of experience do you have in forex?
What type of results can you expect?
How long did it take you to get a positive return?
How do you manage risk on your trading account?
Is currency exchange your main income?
These are just a few of many questions to ask before picking a mentor, especially if you are paying one. Many say that they are more than happy to help and that they are really successful, but they are still charging for their ‘system.’ Chances are they are not successful which means they make money of people, not trading.
A forex mentor should be upfront and provide you with true and accurate advice. They should recommend books, teach fundamentals and show you trade examples to learn from. This currency exchange site was created to help everyone learn from multiple experienced traders, for free.
If you are looking for a free forex mentor, you have found one. Ask questions and participate in discussions, you will be surprised how much you can learn.