As they embark on attempting to make a living as a trader, many traders choose to get a formal trading education. Others pursue education after they’ve had one or more disappointments in the market. Some may elect to forgo education in exchange for information garnered from reading trading books or going to trader meetings.
Whether through enrollment in a well known trading school or through a personal mentor, there are lots of ways to learn to trade and decisions to be made about which trading style and strategies you want to study, perfect, and call your own.
Getting a strong trading education can be the difference between success and failure and it is an important step. But, it is not enough.
I believe traders need pursue TWO types of training.
In addition to learning all the technical skills, traders also need to learn about themselves.
A critical second phase of trader education, one that focuses on self awareness, is hugely important. In my experience, it is often ignored or not even on someone’s radar. Working on you, the trader, is AS IMPORTANT as working on your trades and strategies.
If you are still taking actions trading that get out of control, such as not taking a loss when you said you would, then you’ll likely benefit from some education on discipline and awareness. A focus on personal discipline, psychology, habits, reactions, and behaviors can make a huge impact on trading results.
If you have suffered substantial out of control losses, you likely know how painful this is and how creating success with the trades that might work is not sustainable. Spending time studying one’s own psychology and working on affecting change is not a big part of most trading education programs. This is something you will need to seek out on your own.
If you find yourself not doing what you say you’re going to do in the market, and subsequently creating losses and frustration, you might consider looking into your mindset and psychology.
As a Trading Coach, I help traders improve their discipline and behavior. I work with those who usually have acquired significant technical training and market experience but who are stuck because their behavior is untamed and all over the place. And, consequently, their results are not good.
For the second type of trading education, I suggest building your discipline, including facing yourself and your fears. When I work with traders, we take a dive into the subconscious and discover and remove anything blocking success.
It’s sometimes not a comfortable or easy process, but the impact of can be significant. The work can enable you to release baggage and trade with ease. These changes are permanent and they also elevate the contentment in one’s personal life.
If this topic is something that you can relate to in your own trading, I invite you to reach out to me. I’m happy to schedule a consultation with you and hear about your trading situation and discuss if my program can help you.