Are you looking for a stock market mentor? Do you have trading goals but need help getting started? We give you five questions to ask before making a choice and signing on the dotted line. Starting, many people are looking for a person who can help them along in their trading. Make sure to get the best person for the job if that’s what you want.
Would you take your taxes to your barber? What about your will? Would you go to a soccer coach for piano lessons? I certainly hope not. My point is this: your mentor should be experienced and accomplished in the trading arena.
Moreover, the market moves in cycles – up, down, sideways. In some cases, well, mostly, it’s over years. That said, it’s essential to find a mentor who has traded through all the different types of market conditions. 5-10 years back, at least.
- Do you know how to find a stock market mentor?
- What’s their experience?
- Do you have any reviews?
- Are they making money?
- Will they share their strategies with you?
- Can their strategies make money no matter what the market’s doing?
You’re excited. Your brokerage account is locked and loaded, and you’re ready to roll. With a hot stock tip in the new chat room you just joined, you pull the trigger.
Within seconds, $2,000 magically disappears out of your account. Secretly, you hope you were right. But here’s the thing: just because your stock market mentor has thousands of members in their chat room doesn’t mean you should be, too.
So, for today, I have compiled a series of questions you should ask any stock market service, community, or mentor before you fork out your hard-earned dollars to join.
Stock Market Mentor Reviews
Are they well known? Do they seem to have good reviews? Does it feel like a scam? These are things you should question…do they have a trial? All important.
We can all go on FINVIZ or Stocktwits to see what’s trending today and place a trade. But that’s not the point. You sign on to a stock market community with the hope of learning a mentor’s trading strategy or system.
No second guessing. No overthinking. Follow the rules. You want a mentor that teaches you a full system; otherwise, you’re fishing in the dark.
Also, do you know if their strategy works? Are they currently trading it now? Which leads me to the next question.
Will Your Strategies Make Money?
Now, it’s essential to remember that not all strategies work in all market conditions. Strategies are specific to bull or bear markets, and it’s not a one-size-fits-all situation.
However, quality trading services and mentors should provide you with at least three strategies to make money, regardless of the market conditions.
Make sure to check out our online trading courses. You’ll learn how to make money in all market conditions.
This is an example of a stock chart and the type of education that’s important to learn from a stock market mentor. Learning to read stock charts is one of the most important skills to learn to become a profitable trader. Take note of the picture of the SPY, which tracks the S&P 500.
The lines on the chart are called trendlines, which map out important support and resistance levels. The three yellow circles on the bottom are buy zones because that’s where price action held support. The yellow circle at the top is a sell zone because the price hit resistance and fell to the downside.
Stock Market Mentor Education
Anyone can put together a chat room and shout-out plays. But that is not what you want, or I hope it isn’t.
The best way to learn is by watching someone successful in making money in the stock market show you how. Also, what materials are available to you to study during your downtime?
I think it’s safe to say without a proper education, you won’t fully evolve as a trader. If you want to learn stock trading, look no further.
I hate to break it to you, but just because you love something doesn’t mean you’ll be great at it. Not if you don’t work.
When there is a crew of encouraging support, including teachers, coaches, and peers, interests thrive. Why are other people so important?
For one thing, they provide ongoing stimulation and information essential to liking something more and more. Also – more obviously, positive feedback makes us feel happy, competent, and secure.
Keep asking questions. Continue seeking other people who share your interests, and sidle up to an encouraging mentor.
Whatever your age, over time, your role as a learner will become a more active and informed one. Over the years, your knowledge and expertise will grow, and along with it, your confidence and curiosity to know more.
Is It About Them?
- Is your stock market mentor the most important part of your training?
- Is their presence in your trading good or bad?
- Are you learning to trade?
- Can you trade independently, or are you dependent on your mentor?
Should You Give Up?
You blew up your account. The $2,000 you spent on the hot stock tip evaporated quicker than your kids when it’s time to do the dishes.
Your wife is livid. You want to quit. Let me suggest teaching yourself how to change your thoughts and feelings when the going gets rough: Ask for a helping hand.
Take the story of a retired mathematician named Rhonda Hughes. Nobody in her family had gone to college, but eventually, Rhonda earned a Ph.D. in mathematics.
After seventy-nine of her eighty faculty position applications were rejected, she took a job at the only university offering her an offer.
Reflecting on her experience, Rhonda admits people assume you have some exceptional talent in mathematics. They think you’re either born with it or you’re not.
But in fact, you develop the ability to do mathematics. Don’t give up! “There have been so many times in my career when I wanted to pack it in and give up and do something easier.
But there was always someone who, in one way or another, told me to keep going. Everyone needs somebody like that. Don’t you?” (GRIT: The Power of Passion and Perseverance – Angela Duckworth)
What I am trying to say is that setbacks are okay. We all get frustrated and want to quit. But the most crucial thing about Rhonda’s story is that she rarely got back up alone. Instead, she realized that asking for help was an excellent way to hold on to hope.
Final Thoughts: Stock Market Mentor
To become great at something, you have to dedicate tons of time and energy to it. With the right support and encouragement, nothing is impossible, and no goal is beyond reach.
It’s okay to ask for help. Do you want to know why? There are always ways to improve, and getting feedback is a gift. By overcoming fears and uncertainty through trial and error, through doing, you will succeed.
For these reasons, you want a stock market mentor who expects nothing less than your best effort. Be smart. Do your homework and find a stock market mentor and community that suits your needs.
And, when you join Bullish Bears, we’ll push you to be the best version of yourself that you can be. And we refuse to pump stocks in our trade room.
We are better than that, and so are you. Moreover, new members gain access to videos, a free candlesticks e-book, and so much more. Are you ready?
Frequently Asked Questions
John Carter is a popular stock market mentor for trading options. Tim Sykes is well known for being a penny stocks mentor. Al Brooks is a really good futures trader and mentor.
Finding a stock trading mentor is easy. You can find them online by searching for trade rooms or trading courses. Then read the reviews that their members have to say about them before joining.
A stock market mentor usually charges membership fees or coaching fees. Fees range from $199 per month or higher. They could charge several thousand for high-end courses and private coaching sessions.
