The trade offers regular people the opportunity to make life-changing money and gain the freedom they always deserve. Getting started can be confusing and difficult if you don’t know where to look.
You can try different techniques by reading books, taking classes from organizations like Certus Trading and others a trading education company lead by Matt Choi with a mission to help traders and investors achieve consistent profits. But when you do DIY you get what you pay for. The fastest way to reduce the learning curve is to have a trading Mentor. Your mentor should have a proven track record of making money in the trade, and someone who can teach you the ropes.
But here’s the thing. If you go online, you will find many people or groups that say they are successful traders and that if you sign up for their service you can reflect their success. We have a series of steps to help you understand how and where to find a trading Mentor that you can trust.
Understand what an ETF is and whether you need a mentor:
Before you devote much time to finding a trading mentor, you need to evaluate whether you really need one. Exchange-traded funds (ETF’s) may offer an alternative to selecting your own shares with the help of a mentor. An ETF is a basket of different investments sold as a corporation. With an ETF, you receive proportional equity in all investments, so you are exposed to a diversified portfolio. These are affordable and accessible, so you can experiment with a trading Mentor without immediately listing them.
Evaluate their experience:
Now, there are a lot of great coaches in sports who are not considered the best players. For example, Duke Coach for Basketball K., Bill Jackson in the NBA, and Jose Mourinho in International Football are just a few. But here’s the thing, in sports, there are physical limitations.
For example, if you are short and you try and practice, you have a significant drawback if you want to play pro basketball. However, to become a stock trader you do not need any unique physical characteristics. After all, Warren Buffett is slinging stock in his late 80’s.
Having said that, your trade Mentor should be an effective trader and a good coach.
Explore their latest trades:
The best way to know if a Mentor’s trading strategy or system is working is to see if they are currently trading it. If a person is no longer actively traded, they may be out of touch with the trade and offer outdated advice. You need to work with someone who is actively trading and who is the source of recent transactions.