I had a few mentors I paid for. The first one served me well later on because, in hindsight, I realized he supplied me with enough good bullshi*T that when the next mentors came along I knew the difference. Once of my earliest mentors went on to become a rock star of buy,sell, or get out. I was fortunate to also meet up with a good systems designer who gave me the opportunity to become a professional moderator (long story for a beer night)
But the best and most helpful person in my trading career was my wife. She never gave up on me even after I blew out $100k. So, I paid for all of them except the best one. (She got the house and the car, all the credit cards, etc.)
The best mentor I had was a chance meeting. I met an old floor and pit trader who was trying to make the transition to electronic trading. He was a computer idiot, but a fantastic trader. He opened my eyes to the real market. Things he talked about was stuff I never heard before from anyone. Most of it was contrary to everything I read and heard. I met my mentor after my trading had already solidified. He propelled me forward at an exponential rate, otherwise it would have taken me longer. I was so grateful that I paid him anyway up until his death.
So, only pay a mentor for his experience. Nothing else is of value; no indicators or systems. A mentor will help shorten your learning curve. It is well worth it, but be careful. Check out his track record in black and white. If he cannot show you his record going back 5 years, then move on. Remember, he is just like you, just further along. You will become him until you can find yourself in the market.
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