The best approach to learning forex is to employ a mentor. A mentor will act as your guide and help you learn the ropes of Forex currency trading. 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 necessary skills to be successful. He will use his past successes and failures as examples to help you get started. A mentor will help you identify your best method of learning and choose materials that will assist you according to what you need. A mentor will save you countless hours of research that will not help you as well as thousands of dollars purchasing ineffective material. Your mentor wants you to succeed and will provide you with the assistance and knowledge you need to achieve your goals.
Having a mentor is okay but it is for those who have a good financial backup. But those who are financially weak can’t afford to keep a mentor. No worry because there are learning materials available online. So, try to follow them to enhance your trading knowledge and ignite your skill.
Getting a mentor can be helpful but there are a lot of instances where it isn't. First of all, many mentors maybe failed traders themselves. Second, you put even more money in by investing in said mentor so if you lose everything you also have to add that fee on top of it. Third, it seems like somewhat of a waste to me considering all the needed information is available online for free, so why spend money when you can teach yourself?
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.