Best Training For Day Trading – What Makes a Great Day Trading Mentor?
High-quality day trading mentorship isn’t easy to find. Between bogus chat rooms sending out trade signals and guru alert services built for copy-trading, most people think that blindly mirroring “hot picks” from some self-proclaimed expert is a viable strategy.
But this kind of surface-level approach to day trading that relies upon some guru spoon-feeding you trades is ineffective. Blindly following guru alerts sounds great in theory, but won’t work nearly as well as you think in practice. In fact, it’s extremely dangerous.
In flashy advertisements, gurus like to boast about their own incredible results and insinuate that you can achieve the same by simply copying them. But all alert services do is provide an incredible advantage for the guru at the expense of blind followers.
I won’t go into the specifics on the dynamics of alert services right now, but understand that they’re typically a trap for new, oblivious traders looking to get rich quick. They’re great for marketing because of how easy they sound, but immensely misleading.
What ultimately separates real day trading mentors from fake day trading mentors is that the real ones promote the development of legitimate skills in order to become self-sufficient, while the fake ones promote reliance on alerts, signals, and hot picks.
In other words, authentic day trading mentors teach you how to become a professional-level trader; not a copy-cat follower.
How to Pinpoint Good Day Trading Mentors and Avoid Bad Day Trading Mentors:
As a beginner to day trading (and the markets in general), it’s not always easy to distinguish the good mentors from the bad. So as you scour the internet for the best day trading educators, it’s important to keep these critical factors in mind:
1. Profits Alone Don’t Tell the Whole Story – Track Records Can Be Distorted
When most people go out searching for a day trading mentor, they tend to get caught up in which guru can show the most profits. But what they don’t realize is how distorted some of these results can be. Profits alone don’t always tell the whole story.
For example: if a guru has a chat room and alert service with thousands of subscribers, he’s at an advantage every time he enters a trade and alerts it to his followers. With this level of support behind every trade, it’s easy for the guru himself to win.
But if you’re not one of the first ones in on buy alerts and first ones out on sell alerts, then you’ll most likely get caught in the whipsaw created by the entire group of blind followers. The leader is in-and-out with ease while followers compete with each other for scraps.
As a result, the leader rarely loses and is able to capture incredible profits. He then uses his “track record” to attract even more blind followers to his service, which then boosts his profits even more. It becomes a vicious cycle of ridiculously distorted results.
The main point I’m trying to make is that it’s impossible for you to achieve the same results as the gurus running chat rooms and alert services just by copying their trades. And the track records of any traders who run alert services are questionable.
2. An Excessive Focus on Selling Dreams and a Flashy Lifestyle is a Horrible Sign
Focusing on lifestyle instead of the actual process required to become a consistently profitable trader is another way that fake gurus try to deceive you. They turn your attention toward hopes and dreams to distract you from the real path to trading success.
They do this because it’s what people tend to want – the easiest path to wealth. Even though durable trading success requires hard work and persistence, there are still people out there pushing lifestyle as a psychological trick just to get you to buy something.
The individuals who do this either don’t know how the markets really work or they ignore the realities of trading because it makes their products/services easier to sell. Whichever the case may be, these individuals unfairly pollute the trading education industry.
The real trading educators don’t concentrate on lifestyle or potential results without at least explaining the difficult path required to get there. There is no service that you can simply subscribe to and automatically become a great trader. It takes hard work.
There’s no magic pill you can take in order to become a consistently profitable trader. A gym can try to sell you on the dream of being fit, but it takes hard work and dedication to get there. Everyone wants the results, but results only come from the proper process.
#1 Recommendation For Day Trader Training – Profile Trading Development Pathway:
A prime example of a program built to train individuals to become day traders is Josh Schuler’s Profile Trading Development Pathway.
What makes Josh Schuler such a great day trading mentor is his obsessive focus on skill-building and real market edge. This isn’t some lousy, surface-level price action course. It actually digs into market structure/posture on a much deeper, meaningful level.
There are no promises of profiting within a week or even just a few days with some “foolproof system” like so many fake gurus do. Alternatively, he sells an immersive and methodical training program designed to take the average student four months to complete.
Top Training Program For Developing Traders → TRADE WITH PROFILE – THE PROFILE TRADING DEVELOPMENT PATHWAY
This is the real path to durable trading success that involves developing new habits/skills, receiving expert feedback, and generating legitimate market edge. Long-lasting success as a day trader only comes from deep practice and experience.
Most people wrongfully think that trading success comes down to some single piece of information or “holy grail” system, but what it actually comes down to is a proper market framework, experience, and a strong set of technical and mental skills.
Overall, what makes Josh Schuler’s Profile Trading Development Pathway so powerful is far more than just the information it provides, but the accompanying homework assignments and support. This creates an environment for deeper learning and skill-building.
High-Quality Day Trading Mentorship is About Reliable Education and Training:
If you want to take day trading seriously (and not just as an opportunity to act impulsively and gamble), then you have to concentrate on legitimate education and training. This requires you to be process-focused instead of results-focused.
As attractive as the potential results may be, solely fixating on them won’t bring your dreams to life. When it comes down to it, it’s the proper process that will dictate your desired results – and that’s what reliable education and training is all about.
What the best day trading mentors do is provide students with a framework in order to think and act appropriately on their own. It’s teaching them to be self-sufficient instead of dependent on alerts, signals, and picks from self-proclaimed gurus.
Just imagine being up to bat in a major league baseball game without any previous training. All you have is someone in your ear alerting you when to swing. But being told when to swing certainly doesn’t replace all the skills required to hit a baseball coming in at 95 mph.
Yet this is exactly the situation that the vast majority of people put themselves in when it comes to day trading. They think it’s as easy as being told when to buy and sell (or when to swing), but there’s far more to it than that. Don’t fall victim to a surface-level approach.
Please share your personal experiences with any day trading mentors/teachers/gurus in the comments section below.
Learn More in the Trading Success Framework Course
Written by Matt Thomas (@MattThomasTP)
- How to Day Trade For a Living Starting With $5,000 or Less
- Why Students Pay Up to $20K For Thomas Kralow’s Program
- What is the Secret in Trading – Proper Market Perspective
- Best Day Trading Mentorship – Top 2 Day Trading Mentors
- Trading Courses vs. Learning Programs – What’s the Difference?