Most of us as traders look for the big breakthrough in trading that will give us immediate confidence and consistent profits. We look for new gurus, strategies, indicators and markets to get us to our goals as fast as possible. We tend to select the trading psychology courses that promise the easiest path to outstanding returns.
I have built a trading firm and coached and trained traders for nearly two decades and I have to say, that isn’t how it works.
Traders do become successful. Traders do make consistent profits. Traders do learn the joy of trading
And here is how it DOES work. Not with a bang, but drip at a time. Drip....drip...drip. Yes a drip at a time. Real progress that sticks, that adds to new behaviors that add up to consistent profits takes both time invested and calendar time with intention and coaching.
For example, I have just completed a three month trading psychology course “boot camp” with 17 traders and I want you to see the raw results as they evaluated their own performance on a week by week basis. If you were to compare all their progress charts, you would see how becoming a consistently profitable trader takes time and is lumpy.
The reason marketing hype sells training courses more than stating how progress is really made is because it appeals to the dreams we have about being successful. And we so want these dreams to become real.
However, “real” means reality. And here is the reality in a graphic visual. This is how REAL traders progress to REAL goals that support long terms consistent profits. It isn’t pretty. My marketing advisor told me not to share the results. But this is real! And if we aren’t real, how can we progress?
I asked each member of the course to list their most pressing problems that keep them from consistent profits. Then to write the state of mind that they would prefer to have. Then to make the first cell red. Each week I asked them to rate the issue as red (major problem), yellow (minor problem) or green (no problem). Some students got creative and added orange.
Keep in mind, that these traders had been experiencing these issues for most of their trading careers. A move from Red to Yellow is significant in terms of profitability. A few traders showed little progress. In fact in working with one trader, he decided his temperament was not suited for trading. This was huge progress for him. Other traders experienced significant progress. This also is reality.
We change what we measure. The more open and honest we are, the more community support we have, the more we accept ourselves and all our quirks, the easier it is to change the squares from red to green.
The well designed trading psychology course will incorporate these processes along with an understanding of how the brain works and how we progress and make changes that feel better, honor our values and get us to our goal of consistent profits.
I have built a trading firm and coached and trained traders for nearly two decades and I have to say, that isn’t how it works.
Traders do become successful. Traders do make consistent profits. Traders do learn the joy of trading
And here is how it DOES work. Not with a bang, but drip at a time. Drip....drip...drip. Yes a drip at a time. Real progress that sticks, that adds to new behaviors that add up to consistent profits takes both time invested and calendar time with intention and coaching.
For example, I have just completed a three month trading psychology course “boot camp” with 17 traders and I want you to see the raw results as they evaluated their own performance on a week by week basis. If you were to compare all their progress charts, you would see how becoming a consistently profitable trader takes time and is lumpy.
The reason marketing hype sells training courses more than stating how progress is really made is because it appeals to the dreams we have about being successful. And we so want these dreams to become real.
However, “real” means reality. And here is the reality in a graphic visual. This is how REAL traders progress to REAL goals that support long terms consistent profits. It isn’t pretty. My marketing advisor told me not to share the results. But this is real! And if we aren’t real, how can we progress?
Keep in mind, that these traders had been experiencing these issues for most of their trading careers. A move from Red to Yellow is significant in terms of profitability. A few traders showed little progress. In fact in working with one trader, he decided his temperament was not suited for trading. This was huge progress for him. Other traders experienced significant progress. This also is reality.
We change what we measure. The more open and honest we are, the more community support we have, the more we accept ourselves and all our quirks, the easier it is to change the squares from red to green.
The well designed trading psychology course will incorporate these processes along with an understanding of how the brain works and how we progress and make changes that feel better, honor our values and get us to our goal of consistent profits.
