So, you have been able to scour the internet in search of a suitable Forex mentorship program and have found one that seems to suit your needs. You have secured an online Forex mentor willing to teach you. What is the next step? Like many others, your number one priority should be getting the highest amount of value from your mentorship. You are very likely going to be paired with a very experienced Forex trader who will serve as your shortcut to becoming a competent and possibly equally skilled trader in a fraction of the time.
Determine what your level is within the Forex trading world. This can be done with the help of your FX mentor who can assess you to find out what you already know and what you don’t know. This can shave off a lot of precious time so you can focus on other aspects of trading to get the most done within the duration of the course.
Always ensure that you have a well-defined schedule between you and your FX mentor. It is essential to be on the same page with your mentor on when and where your lessons are going to take place to avoid mix-ups. Every interaction between yourself and your mentor should be well planned out.
Make sure you approach the learning process with an open mind. Learning to trade isn’t easy, there may be concepts taught to you that may seem daunting at first, but become more and more manageable as you familiarise yourself with them. It is important not to be frustrated if you don’t understand a concept right off the bat, especially if you are very new to Forex trading. Like everything else, learning to trade will take time, patience and a fair amount of dedication and time. Good Forex trading mentors know this, and will most likely treat you accordingly.
Always Keep a Journal. Document everything that you are learning, in your own words make notes of everything you are being taught, make side notes as well as comments or even questions that you might want to ask in the future. This is one of the best things you can do in a forex mentoring program. Write down as much as you can during your sessions with your mentor. The mind may be powerful, but it isn’t perfect. There are numerous things that you might forget during the lesson that may prove vital to your success as a trader. Soak up as much information as you can, it can’t be understated how important this is.
Never be afraid to ask as many questions as you can. Your mentor is there to make sure that you learn as much as possible and will be happy to clarify anything you might not understand. Make it a priority to understand the previous topic adequately before you move on to the next, as the sessions are on a one to one basis, and you are the sole student. This will help prevent a build-up of things you don’t quite understand fully, causing you to be far from ready at the end of the course.
If you follow the tips as mentioned earlier, you should be well on your way to becoming an excellent trader.