Trading psychology - Coaching for traders

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TRADING PSYCHOLOGY COACH

My name is Kenneth Reid and I am a practicing psychotherapist, trading coach and trader. I have been trading since 1996, both day trading and swing trading. I have coached day traders, swing traders, equity traders, forex traders and futures traders since 2002. I have worked with aspiring traders who are new to the game and with experienced hedge fund traders who make 1,000 trades/day and 'arb' seven markets at once.

I enjoy trading my own account, but I also have a passion to help traders achieve trading mastery. I've learned a lot along the way, not only about trading, but also about myself. Whatever your level of experience, I believe I can find a way to help.

Aspiring traders naturally focus on the potential for virtually unlimited gains. But as Mark Douglas points out, few are prepared for the reality of the trading environment. There are four things traders need to master in order to survive the learning curve and prosper:

1) A Realistic Appraisal of Risk; 2) Emotional Stablility, 3) An Effective Trading Edge and 4) A Positive Mindset.

Let's go over the basics or you can click here to review my Coaching Program.

MANAGE YOUR RISK
paralysis of analysis Success in the markets is based on a realistic appraisal of risk. When it comes to risk assessment, however, our mind is often our own worst enemy. The biggest mental issue in trading is the illusion of competency that arises when looking at a cold chart and thinking that we would have made the right trading decisions at crucial turning points in real time. This is a distortion of perspective that over-estimates our competency and underestimates risk. In this semi-inflated and naive state of mind, we have little chance of surviving in the real trading environment.

When things are not working out and we are losing money, we become susceptible to various mind traps. Together these contribute to a Toxic Mental Attitude that will sabotage success.

MASTER YOUR EMOTIONS
trading psychology coaching Some traders are naturally un-emotional. These trading robots make trading look easy. Most traders have feelings, however, and that aspect of character will not change. Unfortunately, the market is designed to use your emotions against you in order to shake you down.

After a while, you may suffer emotional wounding like a soldier in a war, which may show up as risk aversion, or random acts of trading. Instead of trading to win, you will trade-not-to-lose. That attitude is self-defeating, because trading is about taking on risk while maintaining a confident, winning attitude. Emotional wounding can be repaired. You can read more about that here.

MASTER YOUR TRADING SYSTEM
When risk is not accurately appraised, then one's trading system is likely to be inadequate. Einstein once said, "things should be made as simple as possible, but not simpler." Often, traders have a method that is too simple (no indicators, just "price action"), so signals are not clear. Or they have such a complex system that they can't trade it in real time. By the way, one's method needs to be matched with one's temperament. If you are a 'fox', you can't use the same trading method as a 'pit bull' because they require different mind sets. I can help you find the right method for you.

MASTER YOUR TRADING ATTITUDE
One's attitude is the sum total of one's mental and emotional state. Our trading attitude directs our behavior. We can be at the mercy of market action or we can manage and master our internal state so that we maintain an attitude that is independent of our short-term results. This is a skill and it can be learned. Top athletes use it. Top traders use it. You can, too. This sophisticated audio program (MP3) will coach you on how to develop a Winning Attitude toward your trading.

HIGH RISK TRADERS
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Some traders lack the discipline to follow a trading plan, even when they want to. These traders tend to be intelligent, creative and intuitive, but also inconsistent, disorganized and impulsive. Take my free Risk Profile to find out whether you are in this High Risk category. Here is the story of one High Risk Trader I worked with named Arthur.

Arthur is a former executive at a well-known database software company. He is smart, creative, confident, strong-willed, ambitious and very dedicated. In the business world he is a CEO-type, a "peak performer," but that did not help his trading. Arthur took his trading account from $1 million down to $100k in the year before he called me. How did this happen?

As his strategies and tactics failed to achieve the desired results, Arthur never sought help. He remained focused on the market, not on himself or his system. To recoup losses, he traded more frequently and averaged down on losing positions. He chased momentum, he swung for the fences, he let winners turn into losers and he could not keep the losses small.

His wife was worried about his trading, but he believed in himself and his abilities. In fact, Arthur always felt he was on the verge of tremendous success, even as his equity curve continued to plunge. His self-confidence actually worked against him.

Bottom line: Whatever your level of intelligence, education or success in life, learning to trade for a living is likely to be one of the harder things you have ever done. To trade successfully, you need to do the exact opposite of what your instincts, emotions and business skills naturally urge you to do. Once the downward spiral starts for a trader, it tends to take an inevitable course to washout.

RISK OF RUIN
The Risk of Ruin defines the odds of reaching a point at which you are no longer mentally, emotionally or financially able to fund (or re-fund) your account. The risk increases exponentially for those traders who:

TO MASTER THE MARKET, MASTER YOURSELF
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I'm a competitive tennis player. Andre Agassi once said, "For me, tennis is a vehicle to discover myself and push myself." For many traders, the market serves the same purpose. You may be driven to master trading because it holds the secret not only to your financial future, but to your own self-mastery.

Many of my clients report that as their trading improves, the quality of their life improves along with it. If you are this type of trader, passionate about succeeding, I am committed about helping you reach your goal. Click to review my Coaching Program.

My name is Kenneth Reid and I am a practicing psychotherapist, trading coach and trader. Additionally, I work as an editor/analyst in the financial markets, I have appeared on CNBC and written for Forbes.com and SmartMoney.com. Sure, I understand the markets, but I'm a trader first and a pundit second.

Whether you are an aspiring rookie, an experienced veteran who is stuck at breakeven, or a successful professional looking to sharpen your edge, I can help you reach your full trading potential. You can read testimonials here. To review my Coaching Program, click here. My customized 6-week program costs just $1499.

Email me to schedule a FREE 15-Min. CONSULTATION. Email: doc2@daytrading-doc.com

Click here to sign up now.

If you take no other action today my friend, be sure you order my neuroprogramming MP3 ACCESSING THE WINNING TRADER'S MINDSET for just $99. The key to trading success is becoming proactive about your mental-emotional state while trading. Take the next small step to mastery, now!