If you are looking for a price action mentor, it is safe to assume you know what price action is. It is also safe to assume that you a Forex trader, a stock market operator or even a binary options trader. These are the people who are likely to use the price action strategy to trade and make money. Now, before discussing the qualities of the right mentor, it makes sense to talk about price action as a strategy.
Understanding Price Action
In simple English, price action is a trading strategy that the trader uses to analyze the market and make investment decisions based on price movement. This means that the trader concentrates on actual price movement and price history to buy or sell certain securities. A smart trader can use price bars, trend-lines and price bands to determine if the prices of certain securities or currencies will rise or fall. Smart traders can also use recent price history to determine a downward trend or upward trend. A great mentor is the person who has used and is still using this strategy to make money and this is the one you should select. Below are some qualities of the right price action mentor.
Experience
The right mentor for you is the one who has many years of experience and has used this strategy to make money in the past. Remember that your objective is to make money from the recommendations or the mentorship of the person you have chosen. For this reason, if your mentor has no track record of success, you should look elsewhere.
Communication Skills
One great quality of a mentor is communication. Your mentor is your teacher and your guide so it follows that this expert should communicate his or her ideas clearly to you. The right coach for you is the one who can express ideas, strategies and recommendations clearly. It helps if the person you are dealing with has both oral and written communication skills. This way, you will learn many things from the expert and achieve your objectives in record time.
Commitment
You need a guide who is honest and committed to you. This is important because mentoring takes time and effort on the part of the expert. An impatient and aggressive mentor is not likely to do you much good. Find an expert who is patient and understanding. This way, you will learn a lot because the coach will take the time to teach you new things.
Final Word
The right expert in your corner will help you succeed. Find one with the qualities above and this professional will do you a world of good.
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