The world’s best business leaders like Steve Jobs, Larry Page, and many more took the guidance from the mentor. The concept of mentoring is old enough and history is full of evidence that how mentors play an important role to take you to the next level.
The mentor is not just required in the customer service business, but the traders look forward to them learning some tricks and enhance their skills. Although, one cannot give a guarantee of success in trading. You can minimize their loss by learning new strategies and plans.
Back to school basis:
Mentors are like teachers. Recall your school days, you were given the homework, you have to make the projects, you have to work on presentations and for this, you have to set aside some time to do research and prepare well.
Mentor will help you to apply the same fundamentals in trading. They will assist you to do some research, prepare the key points, study the different stocks, and prepare well to enhance your productivity.
Help to set a goal:
Why are you trading? How much money do you want to invest in? How much should be your saving? How much loss you can bear? What are your desires? Are you trading just for the extra money or you have the retirement plans and make out the daily expenses.
As a beginner, you may not be aware of how to start? How to invest? The mentor will help you to make these decisions and set a goal for you.
You have to grab the opportunity in the trade market. You will take a lot of time to do a thorough analysis and find the right stock to focus on. Initially, you will follow the practice of hit and trial. But this strategy will not work for the long, and you will end up with an empty account and a lot of frustration.
The mentor will narrow down your learning curve, and helps you make the right decision, and choose the right stock for you. They show you the right direction and help you to gain expertise.
Evaluate your success:
Your teacher in school evaluates your exam sheet and prepares the scorecard so that you have a better idea about your performance so that you can improve on the weak points.
Evaluation from the mentor is necessary so that you can know whether you are going on the right path or not. They assess your achievements and failures helping you to develop the right approach and right strategy to better your success.
To learn different techniques one should listen to read books, business podcasts, or take classes from organizations like Certus Trading reviews a trading education company lead by Matt Choi a self-taught, professional trader with over more than two decades of trading experience.
Help you to save money:
There is a difference between the knowledge you acquire from the books and the knowledge you learn from the experienced professional.
You can lose all your money in the trading, but the mentor helps you to diminish that loss. They help you to improve your performance. Learning how to choose the right stocks can help you to save money.