1. To have a record of all of my trades so I could analyze everything I did to get better.
2. Provide a record of my journey not just for myself but also for my readers.
3. Eventually take my in-depth knowledge and help others become better.
I spent a long time thinking about how best to do #3 in a way that provides real value to my readers. I contemplated putting together weekly newsletter or daily actionable trade alerts service. However there are many of those out there and as you know by now, I like to take a different path than most.
My mother was a teacher so was my grandmother, my mother in law is a teacher and so was my grandmother in law. Teaching runs in my family. A never ending quest for knowledge and to help others runs through me. When I would have home run days where my portfolio would be up 25%+ it felt great, but upon reflection, what really felt better was messages from you all. Nothing made me feel better than when one of my followers would tell me about how my insights helped them make a great trade, help them cut a loss or helped them learn something that they will carry with them for as long as they trade.
When I was playing poker professionally, it became a lonely endeavor. Regardless of how much I made in a day something was missing and it took me years to figure out what that was, but once I did it spawned an amazing experience. What was missing was simple, it was helping others. A few years ago, I put together a group of around 10 poker players and once a week we would get together and discuss different hands and dive deep into game theory. I spent at least 4 hours a week teaching others from my hands and from analyzing theirs. Those were the best 4 hours of my week. I turned a few lifetime losers into some great poker players, many of whom I still keep in touch with to this day. I still get calls telling me about how they just won a tournament or had a huge win in Vegas, and it always puts a huge smile on my face.
The reason I have over 1000 followers on stocktwits and a large group of regular readers on this site is because of my never ending quest for knowledge and helping others. I have answered every question asked to me on stocktwits for over a year because I love to help others. Nothing makes me happier than helping someone see a new way of looking at something and bettering their trading.
Rather than put together a run of the mill list of stocks that might make a move or a weekly newsletter, I am putting together something very few people offer and something that provides immense lifelong value, mentorship through trade coaching.
This service isn’t just about finding opportunities for profit in the market, it is about making you the best trader you can be. The toughest thing to do in trading isn’t finding the right setups, it’s mastering your emotions and staying disciplined. Trading is an extremely difficult battle especially if you fight it alone, which is why most traders eventually fail.
Why did Tiger Woods have a swing coach when he was the best golfer in the world? Because he was unable to see the mistakes he was making himself and needed an outside perspective. Traders are no different. We all bring a bias into our trades. Take the recent move in the coal stocks, many which ran up over 100% in a month. I was surprised to see some very smart traders buying after this huge run up, while I was telling my followers to sell when we were up 100%+ in a few days and now way outside Bollinger band and sentiment was screaming coal miners to go higher and higher! The writing was clear that they were going to pull back sharply in the next few trading sessions. Even if they didn’t the risk/reward was not in longs favor. People were afraid of the train leaving without them and they were breaking their rules following the masses off a cliff. Sure enough, the coal stocks pulled back 20-30%+ over the next few trading sessions.
Removing emotion is difficult and it’s why working with someone leads to increased profits. Ask yourself how many times have you had a winning position only to give back some or all of the profits? Why did that happen? More often than not, you ignored some of your own rules or let greed get the best of you. Most people, instead of removing emotion from the equation and trading what they are seeing, have huge slippage in profits because of their emotions.
When you are able to remove emotion from trading, it becomes a completely different and more profitable experience. But we are emotional creatures by nature and even the best of us succumb to ourselves during our trading. That is why many of the best traders have a mentor or trade coach to help them rethink their positions and make rational decisions over emotional ones. Unfortunately most people do not have a trade coach or a mentor and are left to figure everything out themselves. They get stuck reading message boards online where there are both bulls and bears yelling targets at one another and still letting their bias focus on only what reaffirms their position.
Think about how much money you have given back to the markets over the last year and your trading career not because the markets beat you but rather you beat yourself because of emotion? I want to help my students avoid the pitfalls that bias and emotions cause through focusing on 5 key ways to help transform them to become better more rational traders.
1. Find their edge, the system that works for them, develop that strategy and get it on paper.
2. Learn to focus on risk first then rewards not the other way around.
3. How to find the setups that work best for them.
4. Uncover and confront their weaknesses and develop ways to overcome them.
5. Remove emotion from trading and become a rational and calculated trader.
I will be working with no more than 10 traders at a time. I want to make sure that every single person I work with has all of the one on one time they need to become a better trader. Every trader will get completely customized help on the schedule that works best for them.
We will start with an in-depth consultation where we go over your trading goals and risk tolerance then dive into your latest trades and analysis why you entered and exited the trade. Focusing on uncovering where you have the most slippage. We will then build out a personalized trading plan and get it on paper so you know exactly what you need to do to be successful. You will then get access to me all trading day over the phone and with skype to screen share. You will get a second set of eyes on each of your trades to help make sure you are making the best decisions. I will also highlight some different trade opportunities that fit your risk profile.
Most trade coaches offer a few phone calls a month, maybe 3 hours of interaction, and work with a large number of clients. I want to make sure everyone I work with gets all of the one on one time they need and will not work with more than 10 people at a time. I want to build a lifelong relationship with my traders and help them achieve their trading goals. I am giving a 50% discount to the first 5 traders to sign up and already have 2 spots filled. You can sign up on the Trade Coaching page. Or reach out to me at email@example.com with any questions on the service. Once I reach 10 people I will start a waiting list. I wish you all the best of luck and look forward to working with a few traders who want to better their trading careers and lives.