It would seem obvious that today's trader requires a similar measure of coaching in order to get to and stay at the top. After all, the requirements for success are very similar in trading as in golf. First you need a coach to spot the "flaw", then you need to practice, play and continually make adjustments, and then on the course (or trading on line) you have to see it" and "do it." Only then will success breed confidence and lead you to the next level..
In trading, your coach has to be available to you 24/7 since many markets, like Forex, are always open except for weekends. You have to be able to discuss trades with your coach when they come up, not at the coaches' convenience. It also helps if your coach has experience trading both in the pits and on line. There was a lot to learn in the pits that just cannot be learned on line. Just for example, it was in the pits where you learned how to pick off stops, thereby getting rid of the weak longs or shorts, and then riding the market yourself to where it was always going.
Finally, coaches are essential to keeping their students apprised as to new developments, both in techniques and in fundamental information. Trading is not a static business, you either grow or eventually go the way of the dinosaurs.
Jeff Wecker CEO Black Belt Trading Int'l
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