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We've all heard the adages that pro athletes and other top performers in their fields have coaches. An outside 3rd party that only has your interest at heart.
So my question is - has anyone dealt with a trading coach and how was/is the experience? I know the mod's don't care for websites to be posted for co's, but I would like as open and honest feedback as possible.
I'm sure some might say why bother and others may see the possible value here. It's the old Tiger Woods question, right? Why does the top golfer in the world need a coach? My point being that at what stage(s) of a trading career should a coach be present, if at all? |
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I've had a trading mentor (coach) and it made a huge difference in fine tuning my approach to trading the markets.
He taught about all the things that makes a difference between being a profitable trader or a losing trader and those things had very little to do with my strategies.
In fact, when he visited me, immediately he saw many things I was doing wrong that had impact on my trading
before I even tuned on the darn computer.
Further, he refused to work with me until I corrected those problems.
That's why I always recommend to traders to visit any trader mentor (coach) to see how he/she trades and teaches prior to investing time/money in that individual.
It doesn't stop there because a good mentor (coach) will do the same and that's the initial relationship I had with my mentor.
My point is that you really need to know what your problems are prior to soliciting a trader mentor (coach) and/or be lucky enough to find someone that can identify your trading needs prior to getting involved with you.
Therefore, its extremely difficult to find a right match and that's why many top athletes will move from one mentor/coach to the other until they find the right one.
Even then after they find the right one...they usually only stick with the mentor/coach until they move into a different stage of their athletic career that requires a different type of mentor/coach.
Also, some top athletes have more than one type of mentor/coach that deals with a specific task involving the athlete.
Thus, I strongly feel traders are no different in that as our career develops...
We need to be alert that its time to get a
different type of help when looking for improvements in our trading when such improvements can't be done.
Getting help doesn't imply mentoring (coach).
Mark