Trade On Track - Home Trade On Track - Login
Frequently Asked Questions Screenshots Feature Comparison Join Now - Free

Do You Have What It Takes To Be A Mentor?

Those who trade foreign exchange are divided into two groups:

  • A. The traders who make money
  • B. The traders who lose money

Obviously, everyone wants to be in the first group, but that goal of making money on a consistent basis proves quite elusive, and only a select few of the entire population of traders make it to that group. The divide between the two groups can be like a massive brick wall which can take weeks, months or quite often years to scale.

The group of "not yet profitable" traders can be divided yet again into a few other groups:

  1. Those just giving it a go to see what it's all about
  2. Gamblers, who enjoy the fun of trading, and would love to make some big winnings, but can't be bothered to learn how to trade properly for consistent results
  3. Gamers, who aren't really playing with serious money (or maybe they do if they have it), but enjoy the guessing game of where the market is going
  4. Those who try for a while to get to the profitable status, but give up or go broke in the process
  5. The serious traders who want to keep practicing, keep learning, and are passionately determined to make it to the realm of profitable traders

This final group read books, watch videos and DVDs, enthusiastically practise their trading, use good money management techniques so that they can stay in the game, and yearn for all the information and help they can get to succeed.

This group of traders are looking for the answers, are searching for traders who have already make it. This group of traders are eager to pick the brains of the successful traders to find out their secrets, to find out what sort of discipline it takes, to determine whether or not it's all worth it.

These "client" traders are willing and able to pay fair fees to obtain the knowledge and help from the successful traders, because they know it will all be worth it in the long run, and their money will be returned many times over by investing in the right mentors along the way.

Are you among those select few traders who HAVE already made it? Are you consistently making money month after month, even making a living from your trading? If so, have you thought about helping others get to that same point? If not, here's some things to think about, some of the reasons you might want to become a forex trading mentor:

  • Earn extra income. If you're already making good money from trading, you might wonder why you'd want extra income. Well, a mentoring income may be a steadier stream of income, a more reliable source of money, there's nothing wrong with adding an extra "pillar" to your foundations.
  • Get the satisfaction from helping others get over that hump, by helping other traders break the shackles of frustration and losing trades.
  • Build credibility. Perhaps you'd like to progress into managing other people's investments, or develop and sell your own trading course or DVD. The credibility of successfully mentoring others will certainly help in both those endeavors.
  • Become a better trader yourself through teaching others. They say there's no better way to learn than to teach others. When you teach others the skills and discipline and money management that is required to be a successful trader, you help clarify these things more in your own mind. By teaching, you find you need to stay a step ahead of your students, so quite often you're forced to excel and elevate yourself to greater heights - ultimately making you a better trader.

So, what does it take to be a good mentor?

  • First and foremost - you MUST already have the skills, experience and knowledge to be able to trade profitably on a consistent basis. You might measure this profitability in "pips per month" say, but quite often, the pips don't tell the whole story. There are other factors such as the amount of risk you allow on each trade, the margin you use in your trading and so on. The bottom line is, you must be making money in the long run, preferably over a 3, 6, 12 period of time and beyone.
  • You should have good communication skills, both written and verbal. You need to be able to correctly interpret and understand the questions and needs of your clients, and respond in a clear, unambiguous and instructive way.
  • Teaching experience or experience in giving instruction is a plus. There are some who love to teach and those who hate it. Make sure you are someone who enjoys teaching and enjoys passing on your knowledge and experience to others.
  • You should be able to identify and pinpoint what makes you a good trader. As a mentor, you're going to have to pass on specific skills, specific mindsets, and a wealth of knowledge on to your clients. Make sure you have these clear in your mind, and ideally, have them written down or recorded in some other way so that they can easily be passed on.

Ultimately, your strength and talents in mentoring will be judged by your students, your clients. If you genuinely have something to offer and are good at mentoring, then the word will spread and your client base will grow and everyone benefits.

How does Trade On Track help mentors?

Trade on Track serves as the perfect framework or portal for:

  • helping mentors find clients
  • helping clients find suitable mentors
  • helping mentors carry out their role in a very effective way
  • helping clients follow the instruction given by their mentor(s)

As a "mentor" member of Trade on Track, you have:

  • The ability to advertise your services and publish a description of who you are and what you can offer to clients.
  • The facilities to publish your signature trades, trading methods, instructional guides (written, audio, video etc.) and make them all available to your clients.
  • Access to a unique messaging system that allows secure, two-way communication with your clients, with easy access to your client's trades and trade history.

There are many other benefits that you can enjoy as a mentor member of Trade on Track, which can save you time and increase the effectiveness of your mentorship. Read more of the benefits here.

Mentoring a beginning or intermediate trader may be one of the most rewarding and satisfying things you can do in your trading career, both for yourself and your clients. Register as a mentor member now, and help other passionate traders scale the wall to become a successful trader.