When you consider that nearly all money managers and financial advisers steer clear of Day trading altogether, you might surprise why anyone does it at all. Everyone already understands that day trading can be very risky and most of us understand someone who has tried day trading and lost finance.
On the other hand, those that do day trade perfectly maintain that the cause behind the breakdown of most people to become successful day traders is easily ignorance and laziness. Ignorance in the sense that they don’t have clear view of how the market runs and laziness in the sense that they have not any time to learn it. This is correctly why I attract anyone who wants to start day trade with a mentor.
Obviously, the top teacher is experience. Unluckily, when it comes to day trading, experience can be very costly. If you don’t have a full understanding of the market how it runs, you will lose a lot of finance and probably your desire to ever try day trading again. On the other hand, a perfect mentor can keep your money, earn you money, and more than pay for the cost of their service.
Actually, the same is real with all stock market investing, but even more so with day trading. I am generally asked; “how can I become a stock market trader?” And my reply is always,” find a mentor.” Trust me, if you are fresh to investing in the stock market, using the service of a mentor will all but get rid of many of the costly mistakes that people make when they are fresh to stock market trading.
Features to look for in stock market mentor
He or she should have high experience in all aspects of stock market trading. You already understand that experience is the top teacher and that does not discount the detail that you can also learn from the skill of others.
You want a mentor who is capable to communicate what you want to learn in a clear manner and to share even non winning experiences they may have had along the way to their victory. They should have a perfect rounded background in what you hope to learn.
Ensure that you and your prospective mentor communicate well. If you do not “link” well from the extremely starting, your link will probably not last. You must be capable to communicate on the same stage with each other.
A best teacher (mentor) will display a big deal of confidence which is an extension of their experience. They can sense when you are stressed as well as when you are learning. They develop indicts that support guide them in the teaching process. Because they are teachers, they are generally people oriented and have a perfect attitude because of their victory.
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