Advantages and Disadvantages of Learning to Trade in Self-taught and Mentor
Learn to Trade Self-taught – Nowadays the development of the world of forex trading is getting faster. This is because there is progress in the world of technology that makes the business of currency trading easier.
The growing foreign exchange makes more and more new traders and begins to learn forex trading. The problem is that there are a lot of beginners who enter the world of trading without being accompanied by financial ability or even good knowledge.
This time you will write this article for beginners who will start entering the world of forex trading. We will give you choices all about the strengths and also the lack of learning to trade self-taught and by using a mentor.
Learn to trade self-taught
Maybe now you are in a position where there is no one who can teach to jump directly into the world of forex. Plus you don’t have a network to meet practitioners of forex trading to ask for advice related to forex. So inevitably you have to study forex alone when you want to go directly to trading.
There are several advantages and disadvantages if you choose to study manually and by yourself. Studying the world of forex self-taught makes you need more time than studying forex guided by a mentor who is an expert in their field.
The equation between starting trading by studying the forex world manually is actually not much different. This is because these two things are trial and error. The strength lies when you have mastered the method of trading well. Because when you have a good understanding of the world of trading and understand various trading techniques, forex trading activities will be more fun to do.
The negative side of learning self-taught trading
However, there is a negative side that occurs when you start the world of trading by the self-taught method. Because at the beginning of your experience, you will definitely feel the loss caused by decisions that are often wrong.
There are still benefits that you can get when choosing to trade self-taught. While a trader, you will feel how it feels to trade as it is. With conditions that fall up feeling defeat and also a victory in forex. Then your mind will be honed as an experience that will forge yourself.
Remember one thing when you decided to use a method like this. Then the next thing you need to prepare is adequate financial conditions. This is because self-taught will make you practice from scratch and without any knowledge at all. So it is very natural if you will feel loss when trading forex.
Usually, people who study the world of forex manually often have difficulty finding a mentor who will teach them the world of trade well. They choose to study on their own not because they feel confident in their abilities. Or feel like they have talent in the world of commerce. But even so with self-study, you will be able to explore the market more sharply than learning with the help of a mentor or teacher.
Traders Learning with Mentors
Luckily you have a mentor or teacher who can teach yourself to trade in forex. Because there are several advantages that you will get when choosing to learn forex with a mentor or teacher.
When you have a teacher, you will find a solution and explain what is needed when you are going to trade and what you don’t need to do. Every transaction you make can be easily discussed with the chosen mentor.
Then is there a deficiency or a minus when you study using a mentor?
One of the things that are lacking when you want to study with an expert is very unlikely if you do not reward them. Maybe it’s not a shortage, we can call it a sacrifice that you have to do in order to learn faster and don’t need to get various losses early when trading forex.
Maybe you think that the mentor where you study has generated a lot of profits, then why pay them with another fee. It is true, the mentor that you have made as a place of learning has generated many advantages in the world of trading. But paying a mentor some money is an obligation that you must do as a student. Studying with someone who is skilled in their field and you do not want to give money to them is an unethical way for you to do.
If you don’t reward them, your mentor may strike to give you knowledge. Pleasing a teacher is something you must do as a student who is learning them.
Do you think that the teacher is not willing to give his knowledge?
You can really feel sincere or not a mentor directly. Not by assessing the money you have to spend as a learning fee for them. Give whatever you are capable of paying the mentor. Never force yourself to give something that you can’t afford.
The most important thing is your mentor is ready and willing to help the trading process done until you get success in forex. You only know enough to give enough rewards to them.
The above may be different if you get a teacher who is emotionally close to yourself. Maybe they could be willing to give their knowledge in vain with yourself without the need to pay a penny. Therefore building relationships and extensive networks with others are important for you to do.
One other way that you might be able to do is to find a mentor or teacher for free through social media or forums on the internet. Things like this will make you get unsatisfactory results. Because you never know whether the mentor that you made the source can be trusted or not. So don’t ever carelessly choose a mentor.
From the above discussion, you can understand that self-taught and learning using mentors have their own advantages and disadvantages. When you study manually or self-taught, then you are required to study harder, learn by yourself, try everything yourself, and feel the real experience in the market.
This is very different if you have a mentor because you can be directed by them and explained every time you are trading with them.
Now stay yourself, choose to learn to trade automatically or by using a mentor.
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