One of the First things new traders look at when picking a training programme is the cost of the Training and Mentorship. While cost is an important factor, it shouldn't be the only factor. Most traders will lose much of their account very quickly if they jump into trading without guidance or research.
From this perspective, spending money to get solid training and mentorship may actually be cheaper over the long run than attempting to trade all on your own.
The key phrase above is "Solid Training", which comprises three elements - Foundation, Mentoring and Support.
The Foundation give you knowledge about the market you wish to trade as well as strategies to help you extract a profit from the Market.
Mentoring - whether by attending regular interaction classes (Brain Storming - Tear and Wear), having trades critiqued or receiving one-on-one coaching - is more pivotal to success than just the information a trader receives from books or articles. The mentoring stage introduces an outside, objective observer to your trading.
It is very hard to see our own mistakes, but someone else who knows what to look for can often spot those mistakes immediately, correct us and provide better way of trading. Since you can't see what you are doing while you are trading, you're bound to make the same mistakes over and over again, even while working hard to correct what you think is wrong. Mentoring removes that hurdle, makes the process much more efficient and is likely to result in quicker progress than attempting to fix things on your own.
The foundation and mentoring stages should get you to a comfort point when trading, and hopefully a profitable position. Support is the ongoing element of the training that is also beneficial. It is very easy to slip into bad habits over time or change our behaviors without realizing it. Ongoing support, and having a regular interaction training or a group of traders to help you through this time, is a significant advantage. Even professional traders, and athletes as well, have times of poor performance that require a knowledgeable outside source to get them back on track.
When choosing a training programme, consider cost, but in the context of what is offered. A -trading training programme should offer you a good foundation of information to build on, mentoring to help you understand the information and fully implement it in the market, as well as support via emails, newsletter or a chat room where successful traders using the same methods can interact and help each other if required.
Nobody can teach you anything in a day or two sitting in a room with some slides and charts, that kind of training programmes, always be a post mortem.
It is a continuous process...we must undergo the process in a phased manner and regular follow ups..
Ultimate Message : If you want to be a professional trader, you should have patience to learn...it is a process like other studies...
