If Forex Money Management and Trader Psychology are the hidden “Secrets” to Forex trading, as we preach in other sections of this website, then Forex Mentoring is the Nitro that will turbo charge your business so you can become profitable in record time.

Let’s explore!

What is Forex Mentoring?
Forex Mentoring is quite simply any resource that allows a student of currency trading to learn from what other traders are doing to be successful. These resources range from informal friendships with other traders where one can get helpful advice or bounce around trading ideas to more formal relationships with a very experienced and successful trader who takes you under his wing, so to speak, and teaches you the in’s and out’s of successful Forex trading.

Do I Need Forex Mentoring?
I am going to venture a wild guess about something at this point. Forgive me if it is mildly insulting or way off the mark, but it is my guess that you are NOT making too much money trading currencies at the moment.  In fact, I bet that you are losing money week after week TRYING to trade the Forex.  If you were making money consistently, you would not likely be spending your time surfing websites such as ours devoted to teaching Forex strategy.  You would be trading the Forex and making money.

I am also going to jump to a logical conclusion that stems from my assumption.  If you do are not making money trading Forex at present and are on this website, then it is probably one of your most important goals to learn Forex and trade it successfully.  You also probably want to do this quickly rather than with some long convoluted process.

If my assumptions are correct, then there is no better way to quickly learn to trade Forex and start making money than to team up with a good Forex Mentor who can guide you to success in this exciting, but challenging business.

You may be asking yourself whether you can learn Forex without the assistance of a mentor.  The truthful answer is that you may possibly still learn Forex even without the assistance of a Forex Mentor.  You could spend years learning techniques, studying systems, trying various tools, and literally going through the school of hard knocks until you discover the methods that work for you.  Yes, it is very possible.  But that, in and of itself, is no reason to dispense with the use of a Forex Mentor.  There are so many compelling reasons why you NEED to be mentored.  They far outweigh the disadvantages.

Read on!

Who Uses a Mentor or Coach
The answer to this question is simple.  Successful people use mentors and coaches.  To truly understand how indispensable and downright essential a Forex Mentor is, lets look at some analogies from other areas of human endeavor.

Who is the greatest golfer in the history of golf?  Tiger Woods you say?  Whether you agree or not is not the question here.  Tiger Woods is undoubtedly one of the greatest athletes of our time.  He is quite possibly the greatest golfer alive today.  And yet, Tiger has a coach that he goes to for assistance and advice every day.  Even though Tiger’s coach could never actually perform at Tiger’s level, there are some powerful advantages of having a coach that go way beyond the technical skills of the coach.  Tiger would be the first to admit that his coach has been an instrumental component of his success over the years.  A coach is often able to point out errors in your technique that you might never recognize in yourself.  A coach is objective, particularly when you are not.

Some of the greatest singers on the planet today all have a voice coach.  Tennis players have coaches.  Professionals like lawyers have mentors who guide them in their career development.  The list goes on and on.

Who is the master of all coaches?  Anthony Robbins, of course.  Who do you think hires Anthony Robbins for personal coaching?  Losers who are struggling to get their life in order and are are penniless?  Quite the contrary.  The very pinnacle of society goes to Mr. Robbins for his coaching.  Some of them spend literally millions of dollars a year for his services.  Let me tell you, they would not be spending their time and money with a coach like Tony Robbins if it were not HUGELY BENEFICIAL.  (Did you know that some of the top traders on the planet today go to Tony for coaching)

I could go on with example after example of instances where top professionals in their respective fields all use coaches.  The plain and simple reality is that coaches and mentors serve a powerful purpose in building skills and expertise.    

The question is, why aren’t you using a coach?

Lets look at the advantages and disadvantages of using a mentor.

Advantages of Forex Mentoring
There are some powerful advantages to having a Forex Mentor:

Learning to trade currencies is an involved business.  There is a lot to learn and it takes time.  There are also a lot of pitfalls and traps along the way.  It is possible to succeed all on your own, but the process is a long and arduous one.

Having an an experienced successful Forex Mentor to guide you through this process will reduce this learning curve to a minimum.  Something that might take months to grasp on your own might take you days and weeks to digest with a coach by your side answering your questions, pointing out your mistakes and analyzing your trading successes and failures.

In addition to the time saved, a Forex Mentor will save you tons of money.  I guarantee you that if you are like most traders, you will begin trading before you are really ready to trade Forex successfully and consistently.  The end result will be that you lose money until such time as you master the basics of successful Forex Trading.  

With a Forex Mentor by your side, you will shorten this period up drastically saving you thousands of dollars in lost capital.  Again, this single reason alone justifies the use of a Forex Mentor.

An intangible benefit which is no less profound is the piece of mind that a Forex Mentor can provide.  Instead of banging your head against the wall for months working through strategy after strategy and trying to figure out where you are going wrong, your Mentor will allow you to quickly get on track and guide you through the learning curve.  No more hit and miss approaches. No more deep depressions because of your mounting trading losses.  Find answers quickly and efficiently to get you on track.  Sleep at night knowing there is someone there to help you when the going gets tough.  Sleep at night knowing you are making money.

Disadvantage of Forex Trading
There is only one disadvantage to teaming up with a Forex Mentor that we know of.  You will have to pay for his or her services.  No good Forex mentor that we know will provide his services for free.  Mentoring another to trade the Forex involves a commitment in time and resources.  As such, you can expect to pay for this service.

Some may charge a modest fee of a few hundred dollars.  Others may charge substantially more.

When you contemplate how much money you will lose trading Forex without a mentor, however, this disadvantage is dwarfed by the many advantages.

Quite simply, all things considered, YOU CANNOT AFFORD NOT TO HAVE A MENTOR.

Don’t forget to register for all of our free Articles, Videos and Tutorials available in our members area as well.