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In our personal histories, there are three, maybe four
or five teachers, who fundamentally change our lives.
For me, Dirk is one of those people.
- Anon: Personal Mentoring client
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Why a Personal Mentoring programme?
In short because of the overwhelming evidence that trader education based on mass market "products" and "delivery" fails miserably to lead individuals on a sustained growth path towards forex trading success.
- All those books & ebooks
- All those membership programs
- All those You tube trade setup videos
- All those "canned" webinars
- All those live webinars
- All those CD-rom courses
- All those signal services
- All those trading robots
- All those social trading services
- All those private Facebook Trading Groups
- All those expert tweets
- All those one, two and three day seminars / courses
The ultimate reasons for this massive failure may be varied but essentially it is because any trading in the financial markets is really tough and not suited to mass market training.
Trading is a very personal endeavour and to engage in world class trading training (assuming you are serious about what you want to achieve) cannot exclude the element of a personal relationship with someone in a position and willing to guide, teach, support, mentor.
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What makes Personal Mentoring special?
- The shared commitment to succeed, the meeting of minds, the following of a well designed process.
- Practically the ability to have your unique situations and questions addressed directly and at the right time for you.
- Although there may be a structured program, the structure is subject to the "personal" mentoring of an "individual" because the structure is a tool to make it possible for the mentor to work efficiently with several clients at the same time.
- For example, "Class of 2016" is an administrative structure, but anyone can start the "Class of 2016" at anytime, and follow his own program at his own pace.
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For who is personal mentoring best?
Level of experience in trading is irrelevant.
Because the modern forex trading looks more and more like online gaming than anything to do with traditional trading in the financial markets, personal mentoring is ideal for you if you are in this sense a traditionalist.
If you don't see forex trading as "fun & excitement in the now" but as "business & investment in your future" you will be much better of following a personal mentoring program.
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Aspects of the Mentoring
#1: Clarify your expectations
If your expectations are unrealistic you are not going to make it, let alone achieve your goals. You will lose your shirt and if you're not careful also your sanity.
#2: Set attainable goals
Proper goals, a program to progress will help you to meet your expectations. Goals must be clear and concise. Prepare to shift the goal posts several times. If you don't, believe me, the market will do it for you!
#3: Develop a business mindset
This is a business. You want to buy something cheap and sell it dear and make a profit. So many people forget this, or think its different because it is the financial markets. It is not different. All normal business principles apply. You must have a good product, strong management and excellence in execution.
#4: See the big picture
You are an individual short-term trader in the largest financial market in the world where the world's currencies are exchanged for business and investment. No material and sustained price changes in th forex market take place because of you and other individual traders from relatively small margin trading accounts.
#5: If you start wrong you're gone
This is vitally important. All those losers you have heard about, do you think they were winners who blew up? No, they were losers from day number one. Most people start losing from the word go. To change this can be very difficult. For most it means a gigantic leap.
#6: Take responsibility
The buck stops with you.
#7: Find and interpret "information"
Forex trading is all about getting information, distilling information, analysing the core information and then acting on the information.
What information? How do you distil it? What does the core information mean?
#8: Randomness & unpredictability
If you understand these concepts you will understand why most traders fail ... (It is not because it is impossible to be successful. But if you try to do the impossible you will fail.)
#9: Desicion making under uncertainty
Trading and trading psychology is primarily about uncertainty. How to handle it, because it will not ever go away, is key.
#10: Luck & Skill
To win chess players and 100 meter sprinters need skill and the training that is appropriate for the skill dominated tasks.
The be successful in trading you need luck and the training that is approriate for luck dominated environments.
#11: Process thinking
Achievement in a luck dominated environment cannot be determined in the short term from outcome based observations. A good process followed over time will deliver outcomes associated with high achievement.
#12: Be patient ...
... or become a patient! Tomorrow is another day.
#13: There isn't something like "unemotional trading"
You need to develop trust in yourself. This takes time. Go slow on yourself. Only if you have tasted sustainable profits will you be in a position to trade "automatic", "mechanical", "without emotion". Be prepared for an emotional roller coaster ride.
#14: Feedback & Evaluation
The quality of mentoring is subject to feedback and evaluation of progress over time.
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The formalities of Personal Mentoring
- How do I start?
If you are satisfied this is what you want to do you complete an enrolment "application" and send it through.
Once accepted, you make payment and the process can start.
- What is the structured curriculum?
The curriculum for the SloGroPro program has been lifted from the personal mentoring program.
The details are available here.
- Are relational analysis briefings and forums included?
Absolutely. You can also ask for and expect to receive additional explanations or support in this regard.
- What is the Class duration?
12 months.
- What happens after the completion of the class?
You have several continuation options:
- You can continue with personal mentoring on a quarterly basis
- You can continue with personal mentoring on a yearly basis.
- You can continue with personal mentoring on a "For life long" basis.
- You can continue with a briefings & forum subscription only. (Yearly / Quarterly periods)
- You can also stop your participation and re-engage later.
- What is the "For life" mentorship / "Class of life"?
There had been requests for a "Class of Life enrolment option with a once-off payment" and now it is also possible to join Class of Life, but open ended) for a once off discounted fee.
After completion of the intial 12 month "Class" you continue without any further payment or changes.
- Must I have a live trading account at the start of the "Class" and must I use a specific broker?
No and no. In the program we will look at practicalities related to your individual situation based on aspects like regulation in your country of residence, the size of your account and other preferences you might have
For any other questions, or to contact us please email dayforex (@) gmail dot com.
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Personal Mentoring Enrolment
You can complete a pre-mentoring questionnaire which asks some important questions and tells me more about you in order to advise you if this is something you should pursue. Trading isn't for everyone and if your circumstances aren't right I will not likely accept your enrolment. Complete this form and email to me. We can then discuss your most suitable path in forex training.
Download the pre-mentoring questionnaire here
(Also contains fee information for one year and for life mentoring)
Thank you for your interest and support
