Why is a mentor necessary to succeed in Forex (FX) currency trading?

Forex (foreign currency) trading, which is buying one currency while simultaneously selling another, is getting a considerable amount of press as an attractive alternative to stock market trading. Among the reasons for Forex trading becoming a popular alternative is that Forex provides a 24-hour market, lower transaction fees, and no single entity can corner the market due to its immensity. The downside is that it is not easy to learn to trade Forex on your own. While it can be done, lessons can be relatively expensive.

A Forex mentor will help you learn the ropes of Forex currency trading. With so many people out there offering the same service with different delivery methods, how do you determine which learning method is best for you?

With all the e-courses, videos, books, and seminars that are readily available online and offline for a price, it is difficult for you as a consumer to guess which one will click for you. You have to examine several options before you buy one that works, and some people go through several methods and never find one that really helps them learn to trade Forex. While this is not rocket science, it can be quite confusing and a little knowledge can be more dangerous and expensive than real education.

I’m not saying you need a four-year degree or college courses in Forex trading, but proper education is never a bad idea, especially when you’re putting your money at risk. Investing in books, videos and seminars is a great plan if those things work for you and you feel you are adequately and properly prepared for Forex trading once you have completed the material. If this is the case, then it is money well spent. Most people, however, end up with more questions from these sources than answers.

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This is why I suggest a mentor help you in the process of learning Forex. A mentor is a teacher, guide, and companion on your journey. A Forex mentor is someone who will use his experiences in Forex trading to teach you the skills you need to be successful. He will use your past successes and failures as examples to help you get started. He will help you identify your best learning method and choose materials that will help you according to your needs. A mentor will save you countless hours of research that will not help you, as well as thousands of dollars in buying ineffective materials. You are also likely to find that you are making profitable currency trades much sooner than you would have been without using the services of a mentor. ( Part II )