Mentorship in Trading
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How many experienced Traders or Investors do you have in your circle of friends? People who use their experience and knowledge to help you grow in the path you have chosen. Basically, I am asking if you have the necessary support to achieve your market aspirations?
Not that you will not make it on your own; they might make the learning curve short & less steep for you. In hard times, you may have someone who have walked the journey before giving you an ear, and probably a tried and tested solution.
We know Warren Buffett and all other great traders and investors' values, but we do not have the privilege to talk to them. You may know that you must buy low sell higher, or do dollar cost averaging or buying when there is blood on the street. But how do you keep on buying when it is your own blood in those streets?
I never knew that I needed support until I had it, it made my life easy.
We are in the business of making money, we are not just winging it hoping that we will make it. If, say you want to return 20% this year, where is this number coming from, what are you going to do to get this number, is your skill & experience in line with your expectations?
Before you pull up any number, it must be backed with your previous performance, your skills, the securities you are trading and risk thereof. We cannot let Lady Luck dictate our trading outcomes; whilst we may rely on luck, we cannot just leave everything to it.
Find people who share similar interests to yours, those who use the same strategy as yours, and those who have more experience on the market than you. Buy trading or investing books, invest time learning more about the market. I did most of my learning on YouTube, but I also spent a fair amount of money on books, I am an avid reader after-all. Engage like minded people on social media, follow other traders on Twitter, Facebook and Instagram. You are not going to get more information about the market from talking with your friends who are into performance cars; find fit-for-purpose discussions. And have friends to talk about other things on the side, the market is one of the many exciting things happening in your life.
We have our in-house mentorship programme, talk to us to learn more about it.
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