Do you need a mentor to show you the ropes?

How do you know which mentor is best for you?

Will you have multiple mentors during your trading career?

Or do they even help, over the long haul?

In this episode, Darren and Walter talk mentors – and why you may (or may not) want to find a more experienced trader to help you find the ropes.

http://media.blubrry.com/2traders/content.blubrry.com/2traders/2Traders_-_EP21_Trading_Mentors.mp3

Download (Duration: 29:58  / 34.3 MB)

In this episode:

00:58 – do you use mentors in learning other things?

03:25 – having a mentor is one of the best way

06:51 – devil’s advocate

08:19 – how do you choose a mentor?

10:36 – why not have two?

13:25 – driving a car (as an example)

16:15 – attracted to results and performance

18:09 – student-mentor relationship

22:01 – one size fits all

24:15 – new kid on the block

26:15 – Jack of all trades

Tweetables:

A Mentor can pull you back in line. [Click To Tweet].

What if your mentor trades a system that doesn’t suit your personality. [Click To Tweet].

The fit between what you’re mentor trades and what you believe is critical to your success. [Click To Tweet].

Download The Full Episode 21 Transcript Here

Darren : There is not just strategy. It’s the whole mindset and method and how you apply the method and how you perform. Then you’re more likely to pick a good mentor.

Announcer: 2 Traders, Darren and Walter pull back the curtain on profitable trading systems, consistent money management, and profitable, psychological triggers. Welcome to the 2 Traders Podcast.

Walter: Welcome back to the 2 Traders Podcast. I’m Walter and I’ve got Darren on the line. Hi, Darren.

Darren : Hi, Walter.

Walter: Today, Darren, we’re going to talk about mentors and whether or not, as a trader, do you need a mentor. What are the pros, what are the cons, why would you seek out a mentor?

I guess when I think about this, one of the things that comes to mind is why wouldn’t you find out what a profitable trader is doing and duplicate those things?

In life, do you use mentors in learning other things? Is it helpful to do that with other things? For example, if you were to learn to be an accountant, would you go and work with an accountant and learn how to be an accountant, or would you go to university? I think most people would go to university, and they would take accounting classes and after they graduate, they’d go off and become an accountant, I suppose, and they wouldn’t necessarily need to have a mentor.

I think what’s happened over time is we’ve moved away from the mentoring model.