Why you need to take control over your development and become your own trading coach

Check out my interview on the Desire To Trade Podcast @desiretotrade
September 17, 2015
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  • Are you struggling to be a consistent trader?
  • Do you have the bad habit of jumping from idea to idea, fad to fad?
  • Have you struggled to create lasting change in your trading?
  • Has your development as a trader stalled out?
  • Are you starting to have doubts on whether you can become a professional trader?
  • Or have you achieved a measure of success and now trying to take your trading to that next level?
If you answered yes to one or many of these questions, don’t worry you’re not alone.  nml
I still recall those “dark days” trying to find consistency in my trading and living in what I call – “No man’s land”.
That is making money, losing money, spinning my wheels, and worst of all just feeling lost.
I tell this story not because it is unique, but because it isn’t.
One of the greatest challenges for most traders is that there’s so much noise masquerading as information.
When I work and talk with traders I see a great many drowning in information yet still thirsty for knowledge.

In any other profession or industry, the most reasonable way to learn or improve your craft would be to find a trustworthy coach for guidance and mentoring.  However in an industry ripe with frauds and con artists, it’s hard to believe who to trust.

The end result is that many traders take the DIY approach to learning about trading.

This is by far the most difficult approach as the trader must learn by doing and learn through their own failures.  Unwittingly by choosing this path most traders have signed up to be their own trading coach – a job in which most are ill prepared.  This is the reason why the market chews up and spits out so many aspiring traders.

Without the proper context, understanding, and structure, I see a great many traders majoring in the minors.  That is overweighting trivial matters, and placing insufficient attention on matters of importance.

  • Without the proper context, too many traders underestimate the level of commitment required and have unrealistic expectations of success.
  • Without the proper understanding, too many traders are oblivious to the key principles of success and unaware of the underlying risks.
  • Without the proper structure, a trader will spin his/her wheels hopping from “tip to tip”, “fix to fix”,  “fad to fad”, and greatly increasing the length of time it takes to become proficient.

The net net is a trail of broken dreams and churned accounts.

For most traders it’s not a matter of intelligence, drive, or motivation it’s the failure to follow one simple adage –

“Before you can begin to learn, you must know what you must learn.”

So what is required is a framework for learning:
  1. A structured development plan
  2. An understanding of oneself – strengths and weaknesses
  3. Focus
  4. Practice
  5. Visualization
  6. Habits

To this end I’ve put together a free mini-course to introduce you to this framework.  Becoming_your_own_trading_coach2

This course is inspired by the works of many well known experts (inside and outside the world of trading) as well as the accumulation of many of my own experiences.
In this course I will take you through these key concepts and share with your some practices and exercises which you can apply to your trading immediately.

So whether you’re a new trader or seasoned trader who wants to take control over your own development, the material in this course will empower you towards becoming your own trading coach.

I’d love to hear your feedback, and if you know someone who could benefit from this material please share this post with them.


Why you need to take control over your development and become your own trading coach

by editor time to read: 2 min
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