Are Mentorships Necessary
Everyone in the trading space has definitely come across some “guru” who promised them that they would start earning a lot if they enrolled in their programs. Not to refute the idea as a whole but mentorships are definitely viewed the wrong way.
Truth be told, yes when one is getting into a field that is new to them having someone to direct you to the right places is a great advantage as it cuts the learning process thus limiting the time wasted on things that do not matter or enhance their growth. However, this does not seem as though it is what most of the mentors out there are doing. Rather the mentors that are in and about the industry are more about getting money from your pockets and being entitled to teaching you for the shortest time possible.
Selling Of Dreams
The main problem comes from the fact that traders are misrepresented the picture of the industry. They see the industry as a place where you can earn a couple of hundreds of thousands in a short period of time. This DOES NOT depict the true picture of the financial markets at all. If anything trading is one of the hardest professions out there thus the high number of failures. Selling of dreams is what leads aspiring traders to part with hundreds of dollars just to learn a “magic strategy” that will make profits in all market conditions and in a short period of time. If these strategies even worked in the way that most mentors present them, then they would not care about the mentorship fees at all.
Mentor Or No Mentor
The naked truth is whether you have a mentor or not does not really affect whether you will be profitable or not in the markets. What it may do however is to affect the timeframe between you being a beginner to being a profitable trader. Profitability really boils down to how bad you want to succeed in the markets, and the work you are willing to put in. All the information that you will ever get from a mentor is there available on the internet and it is all up to your workrate to locate it.