When Rafael Nadal became the #1 tennis player in the world, the first thing he did was increase his coaching staff. As all professionals know, the time to push yourself to the next level is when you achieve the level that you where seeking. Coaching ensures you continue to grow and improve your skill set.
Teaching introduces us into a given skill set. Coaching ensures we apply the skill set correctly in a real world environment. More importantly, ongoing coaching ensures the skill set is intact (refresher training) and shows you ways to continually improve with the experience you gain.
Studies show that the learning rate can be as much as 70%-80% faster when 1-on-1 coaching is part of the training process.
What this means to you is a faster rate of learning. For the forex trader, it is the fast track to making consistent profits.
Here are 5 reasons why having a volume trading trading coach is important:
1. A trading coach forces you to re-think your current trading paradigm. In most cases, the solo trader is trying to learn how to trade via the trial and error method. Not only does this take years, there is also a high likelihood that the individual has developed some bad habits in the course of the trial and error process. The first thing a solid trading coach will do is to find those bad habits and give you clear directions on how to overcome them while building the correct habits simultaneously.
2. A trading coach will teach you how to learn from your mistakes. One of the key reasons many folks steer away from having a trading coaching is the fear of having someone see their mistakes. Psychologists have shown time and time again that we learn more from our mistakes than our successes. A trading coach can give you constructive feedback about why a mistake was made and, more importantly, give you clear direction on how to keep it from happening again.
3. A trading coach will assist you in establishing realistic trading goals and give you clear direction on how to achieve those goals. A goal without a plan on how to get there is simply a dream. Most traders do not have set goals, or they expect to achieve overnight riches. A trading coach assists in establishing realistic weekly, monthly and yearly goals, and gives clear direction on how to achieve those goals.
4. A trading coach keeps your thoughts and actions focused. This saves huge amounts of time, meaning you will achieve your financial goals in a shorter period of time. Let’s face it, in today’s internet driven world, the average trader is buried in information. A vast majority of that information is simply marketing hype that dilutes our focus and steers us away from our goals, simply wasting our time.
5. A trading coaching will prevent you from getting stuck on a learning plateau. Cognitive science has shown that everyone plateaus when learning a discipline. Not only do we need someone to recognize when we hit a plateau,but we need feedback on how to move off of it.