Why a mentor? Tips when choosing yours.

Why a mentor?

I also have mentors, many of them! I still learn from them and still respect them, I have chosen them because they are clearly leaders in the industry. They help me to stay on track and they motivate me when I need it most, helping me to excel in my skill. I also have learnt from them how to be a good mentor and what my responsibilities are to the ones I mentor.

Here is the definition of a mentor and how I chose mine. And after years being with them, I chose the right ones!

Mentor:

          noun.

  1. an experienced and trusted adviser.
    “he was her friend and mentor until his death”
    synonyms: adviserguideconfidant, confidante, counsellorconsultanttherapist;
    verb
  1. advise or train (someone, especially a younger colleague).
    “both trainees were expertly mentored by a site supervisor”

So it is clear:

Mentors should teach themselves, counsel and help students themselves! The reason for that is very simple: a mentor has knowledge and experience that you will not be able to find in any other book or on any other website! Small pieces of gold hidden to be discovered and only by the ones close to them. I can read all the books I want but experience is worth 10 times more and is learnt in a very short time. What the mentor learnt over years, he can translate to you in weeks and even days, it saves you time and pain and lots of frustration.

So here is my tips for choosing a mentor:

  1. Make sure the guy who sells you the course is the one who will train you and mentor you himself. You need to work closely with him to learn from him, dont settle for anyone else.
  2. Go look at their profiles, Facebook, Twitter, Instagram.
    1. Are they telling you how great their lives are or are they teaching, helping others?
    2. Pictures: All about themselves or about the market?
    3. Watches, cars and cash is a run away signal!
  3. Ask their students – easy to fool the public, go ask the ones who already did the course.
  4. Are they knowledgeable and yet still teachable? The market keeps traders humble; if this guy knows it all, get yourself another mentor.
  5. Ask to join a free mentorship session and see for yourself. See how he is handling his responsibilities to his current students. Is he getting someone else to do his job?
  6. Are they professional?
  7. Is your growth important to him? Is he pushing you to excel?

Mentors are a must! I will not be where I am today if it werent for my mentors from which I have learnt from. Years and years of hard work with them is paying off every single trade. Let your mentor push you! Do the “wax on, wax off” exercises, keep going, walk the road with him and come out a better person!

Happy trading!

Kobus Kemp

 

 

The Art of Selling Training Courses

Hi Traders!

Many students come to me for training being self taught, mostly babypips. Now, I have nothing against babypips, I think it is an excellent site to learn what the market is all about and a good place to get some vital basic knowledge. Then there are students who actually paid and did training courses with other companies, yet make no profits! When I gauge where the students are, I come to know that they lack the very basics of the market and have no idea how to analyse. This is sad! Most of them telling me how they are using indicators as a strategy; that they were promised they will make millions and yet, many of them still think forex is  a scam. This again I say, is sad!

So let me concentrate one these people just a moment: It is as simple as 1;2;3 (Selling techniques 101)

So you attend your free class! You are excited. The men enter the room with trumpets and whistles, clapping of hands and suits and watches to die for! You just happened to see the sports cars outside the hall. So they start with their selling techniques, that is right; this is not your free lesson son. This is a presentation. They come to market themselves.

Step 1) VICTIM –  You hear the sad stories – you relate. They tell you about their dreams – you relate. They tell you about how they got out of that god forbidden place! You are moved, because you also have dreams right?  You also want a better life; you would also love a life half as good as theirs!

Step 2) HERO -They bring in “the guy”! The absolute best of the best, the Mr. know how! This guy tells you how good he is! How easy it is under his wing. With his guidance, with his help anybody can make it! He is the true trader! He knows the market; he is uniquely blessed! you never realised it was so easy! If only you met him, earlier! Right?

Step 3) GURU – With this course YOU can be US. They ask you closed questions, they get you to say “yes” a lot. Are you struggling? “yes.” Do you want a better life? “yes.” Are you ready? “yes.” And by now you are so hyped up, your ears are singing and all you can think of is when you will buy your own car! Then they move to the kill: Are you joining us!? And you say :YES!

And the whole crowd goes berserk because remember: It is also on special!  Just for today, you have to move quick! You have to pay a deposit or the deal will be closed and there are only a few seats left! So you put down you deposit, you pay for the course, ready to be taught by these rich men who are clearly leaders in the industry; taught by true traders themselves and then……

A few weeks later you arrive at your promised training course that you saved for, for a long time. In the hall it is much quieter now; all the hype is gone, just a few paying customers waiting to be trained by the “big boys”! Someone enters the room, dressed nicely and introduce himself as the trainer; you are a bit disappointed because you expected the guru here. You guess he is sick or in some other meeting. You are wrong! These salesmen dont train, they sell! The neatly dressed person in front of you is the trainer, this guy is getting paid to train you, there is no guru here.  This guy also did the course only 2 months ago!!

The salesman left the building and is now busy with the next hyped-up meeting to tell more people how they will help them trade and make millions, but they won’t!  The chances are that you will never see them again, you follow them on social media, you see more cars, more watches, even planes! But now that you know what trading is all about, you realise that you dont ever see them analysing the charts, you dont see them showing any trade setups, just more on how much money they are making, more false profits after the market moved and you missed out yet AGAIN! It always seems they are catching all the right moves and your account is going backwards and you dont understand why? It is posted dated son, they manufacture these trades, always showing what the market did after the market has done it. Ever wondered why they dont give trade setups to you before the move? Because they cant, they are not traders!

These are businessmen, salesmen and con men!

Why should you be hyped up and be motivated to buy anything anyway?

What does a motivational speech have to do with trading?  It is just selling techniques. You can sell anything from cars to sprinkler-systems with these techniques. It is even sadder to see some churches use it just before they take up the offering!

Get yourself decent training and in a mentorship program by someone with a reputable reputation. Dont settle for second best! Dont settle for last month’s 5 star student. He also paid for the course only 2 months ago, just like you!

Next time I will share some tips on how to choose your mentor: Signs to look for.

So the next time you see these lifestyles sellers, think of how many people they fooled that pays for it, including you!

Happy trading!

The odds are on your side

Hi Traders,

Probably one of the biggest lessons I have learnt is that the market is not against me and not out to get me or take from me. In the contrary, today I honestly believe that the market or trading is the best way to make money!

Let us think of this for just a while; does the following sound familiar?

  1. Money does not grow on trees.
  2. Life is hard.
  3. Life is the game where the fittest survive.
  4. Hard work pays off.
  5. Better get ahead, life is a race.
  6. If you don’t work hard, you wont amount to anything.
  7. If you don’t have a degree or diploma, you will not get a decent job.

Now I have to say first of all, I don’t have anything against a degree, diploma or hard work; those things do help, but it is not the alpha and omega to make a good living for yourself. I totally agree with bettering yourself and never stop learning in life. We all must keep doing just that.

In the markets however, things work a little different. We all know the concept of smart money and that is what trading is all about, being smart! Now being smart means to know that trading and the market is a tool to use for your benefit to create wealth or make a living! The market is not against you, it does not want to take from you, it is not out to get you! Being smart means to keep the following tips in mind:

  1. The market leads, traders follow.
  2. The market shows you the way, traders follow.
  3. The market acts, traders react.
  4. The market shows you the direction it wants to go, traders follow.
  5. The market is an unlimited source of financial info that it freely gives, I must read the info.
  6. The market freely gives to any trader who follows its rhythm.
  7. The market is my friend.

Now do you see the difference?

Happy Trading!

Kobus

Plan the trade and trade the plan

Hi Traders,

Too many times I have seen traders analyse the market correctly and taking the perfect trade.  They somehow then walk away with a loss or being stopped out with a small profit; only for the market to move in their favour, thus leaving money on the table.

This is simple mistakes and can be addressed immediately. Here is some tips:

  1. Analyses should be done before entering the trade; this is where you have to work: concentrate and be neutral while reading the info on the charts.
  2. Know where, when and why you will trade.
  3. Know where you will put the protective stop loss, have a target area and decide when and why you will move the stop loss to break even. (Usually when a support and resistance breaks.)
  4. Write down the plan then stick to that plan.
  5. Don’t sit in front of the trade – take a walk.

Trading is hard enough, on the emotions and mind, so don’t make it harder for yourself. Do all the work before you enter that trade. We analyse 80% of the time and suppose to trade 20% of the time. Invest your money in a trade, don’t gamble by a 50/50 call or fiddle while you have a clear strict trading plan.

Happy Trading!