When you are trading, or learning to trade, in the FOREX market, it can at times be overwhelming. It is especially overwhelming if you are going into the process with no help. Help in the forex market can come in many forms from joining an education company, like Apiary Fund, or having a personal advisor help you out, like Shawn Lucas. Either way, the path is not necessarily an easy one, but having an advisor is more likely to get you where you want to be faster and help you build your plan in ways you may not have thought.
An advisor can be beneficial at any stage in trading, but can aid most in the first stretch of time. Your advisor can be a teacher in a class you take or a one on one individual you meet with regularly. Each one has benefits and drawbacks. Finding what works best for you is the first step in increasing your exposure and knowledge in the markets. If you are more of a classroom-style individual, you will likely see lots of questions come up that you may not have thought of. You also gain the insight of the advising instructor and that of students in the class who may have overcome a similar issue. This variety can add the value to your trading plan that you need to excel.
If you prefer more of the one on one style of learning, you can get a bulk of knowledge quickly. The possible downfall is the type of trading from whom you are working with may not fall completely in line with your style. Most advisors you will come across are able to adapt and detail other strategies, even if not how they mainly trade. This still allows the one on one interaction with trading suited towards you. This is similar to what you may see in a lot of Shawn Lucas’ videos. He has a specific scalping tactic, yet also goes over other strategies for those not into scalping.
Other advisors some may use are just references. Some individuals prefer a solo journey as they learn. This can come in the form of books and articles without interaction. This can be an ideal way for someone who wants extreme detail. If you like to know exactly how something is calculated and don’t plan on trading with an indicator you couldn’t calculate yourself or if you want extremely detailed history on certain things, this is usually where reverence advisors come into play.
Being able to read whenever you want in as much detail as you wish is what it takes for some traders. For others, it is the ability to discuss with a group of individuals what you are looking for in your trading. Some also prefer one-on-one time with an individual. Regardless of what works best for you, these are all types of advisors you can find when it comes to trading. Having the right advisement can make a traders journey that much easier and make them that less likely to quit trading because it didn’t work. Find what works best for you and use it to develop the most profitable plan you can.