On Fake Gurus and Mentoring

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My good friends over at Steady Options posted an article entitled “10 Signs of a Fake Guru “. In my opinion, its a worthwhile read.

OK….its should not be a big surprise that there are scammers out there. Steer clear of them. Let’s turn the page. What characteristics does a good mentor possess?


  • Accessible and Willing to devote time to you:  What good is a mentor if they are not around when you need them? Good mentor-ship takes time
  • Devoted to YOUR improvement:  After a few sessions can you tell if your mentor  has  your best interest at heart? If you cant answer the question, move along.
  • Good Listeners:  Good mentors listen with an empathetic ear and seek to understand troublesome issues particular to you.
  • Offers Practical Advice: The ideas a mentor offers should be actionable and practical for you.  Theoretical discussions wont help you move the ball downfield.
  • Offers Constructive criticism and holds you accountable:  A good mentor calls you out when necessary but in a constructive manner rather than in derogatory terms. 
  • Education & Motivation:  Your mentor should teach you new skills, help you hone the skills you have, and motivate you to Win.
  • Helps you Achieve Independence: A good mentor works hard to make themselves un-necessary.  There is no greater satisfaction for a good mentor than to help someone succeed to the point of independence. If your mentor always dangles the “secret technique” that you’re not quite ready for in front of you, move along.
  • Focuses on YOUR Success, not their own:   So your mentor is a great trader. who cares!  The focus and whole purpose behind mentor- ship is to help YOU become a great trader; not to discuss their trading acumen.

Finding a good mentor isn’t easy, but when you do, its pure gold.  Hopefully these ideas will help you separate the wheat from the chaff.

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