COACHING
doing. It teaches you not only the strategy but also how to determine the probability. That’s exactly what we try to do. We’re in the business of teaching people how to fish. We don’t want to fish for you. We don’t want you dependent. We want you INDEPENDENT. And everything we do is filtered through standard.
that
The quickest and easiest way to
getting
c o n sis t e n t ly profitable as a trader is to spend time in diligent study, preferably from someone who knows what they’re doing in the form of a mentorship or coaching relationship. This will also be the most expensive route but look at the bright side, at least you get to keep your day job instead of having to quit, sell everything you own, move to Chicago or New York and pray that you can find a mentor and you don’t lose every penny you have
in the process. When you explain it like that most people
recognize that a few thousand bucks for a mentorship program is really peanuts.
Taking the mentorship route will trading problems.
SMB Capital, one of the largest and most successful proprietary trading firms in New York says it takes 6 months to a year sitting behind a desk 10 hours a day, surrounded by some of the best traders in the world, for a new trader to start making money. Oh, and 50% of the candidates wash out.
K e e p that
little
Most traders have never sat down and quantified what their probability of success will be
certainly give you the best chance for success but it by no means guarantees it. Too many traders have unreasonable expectations about education. They think it’s some kind of magic pill that when swallowed will cure al l their emotional and technical
nugget of i n f ormati o n in the back of your mind the next time you sit through a 2 day training c ou rse. Trading is simple but it sure isn’t
easy. Having a solid education and surrounding yourself with knowledgeable
trustworthy
people committed to your success is the foundation of any long term trading carrier.
Jason Stapleton FX TRADER MAGAZINE January - March 2014 71
FX
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