I posted this article on my blog and thought I would share it here. Just some thoughts I have about when it makes sense to seek a trading coach. People usually come to me for coaching after YEARS of trading and losses and frustration. I wish they had sought out coaching at the start so they could increase the odds of success. Here is the article. Also, I did a short video, going over the form I use for Discovery Sessions with potential clients. The form covers many psychological challenges traders face, and gives them an opportunity to think about their most significant challenges. I ask them to fill it out before the session so I can see what is going on, and how to focus our session. Most of the significant trading challenges are related to mindset and psychology. They are detailed in this video, so take a look. Can you relate? How have you dealt with or fixed these challenges in your trading?
20 random people from ET can work directly with a trading coach, and after six months...only .8% of them will have, slight, improvement in their profit/loss account statements. Trading successfully for real money is slightly more complicated than setting stops and gains, and writing reflections on a diary. A lot of guys have weird mental issues, or anger issues, or drinking issues, or smoking issues, or communication issues, or confidence/insecurity issues, or sexual issues, or health and dietary and fitness issues....those will definitely hinder trading success. Mindset and psychology are important, vital, as well to trading success. But only to a slight, modest, extent to the overall picture. Look up to the wise men of Yoda and Mr. Miyagi as your spiritual guides. Trading is so much more....than just trading. A trader has to be wise, mature, and philosophical, and an artist in their approach, process and understanding of the market. So many guys have the personality and mindset and complication and depth of a cheap, empty, shoe box. And they wonder....why they are failures in the market, and not millionaires,
I work with traders that have all sorts of issues — like you’re describing above. I wonder if you have personal experience working with a coach? It’s not for everyone. But can be a lot of help for people who really want to succeed at trading and they’re stuck. It has to be a good fit . . . and a skilled coach, and hopefully the results are better than those that you quote.
%% I like the way horses help keep the grass [pasture ]cut; i asked one lady ''you like to ride your horses??'' She says no, they're pasture ornaments. IBKR founder rides a horse, in an ad that says ''NEVER use an ordinary investment vehicle'' LOL/True