Trading is something many people aspire to do, yet not everyone is successful at. As with many things in life, to become successful it is best to learn from those who have already walked the path you’re venturing down and can pass on valuable insight. One of the best ways to improve your trading is with the use of a trading coach.
What is a trading coach?
A trading coach is someone who can teach you how to trade the financial markets, grow your trading account and reach your trading goals. Think of it like this; when you’re trying to lose weight and aren’t too sure where to start, or it’s been a long time since you exercised, what do you do? You’ll probably go online and see if you can find some free videos, maybe join a gym or start running. You might look for some diets that you’ve heard about or start a cleanse. These can all help you lose weight, but what you may struggle with is the long term commitment and success. You may stop going to the gym after a while because you’re not seeing results and you don’t have anyone to answer to. Maybe you choose a diet that works in the short term but isn’t all that great for your health and you see a gain in weight again.
So how do you achieve long term health and fitness to lose and keep the weight off? A personal trainer! They’re a skilled professional who will teach you how to eat healthy, what exercises to do and how to do them correctly, and how to maintain your health in the long term.
But what does this have to do with trading? Everything! It’s the same for trading. You want to trade but aren’t sure where to start, so you go online and find some free videos. Hey, you may even see our free videos and think “hmm, looks fairly straightforward… I can do this myself!”. You will see some successes and you will probably make some money too. However, you will also make some losses and when that happens you may get inside your own head, doubt your ability and think it’s too hard or you’re not cut out for it. This is where a trading coach comes in!
With a trading coach, like a personal trainer, you have someone to teach you the correct skills and strategies you need to trade the markets. Someone to help you get in the right mindset, remember your trading goals and hold you accountable. A trading coach is someone who will help you find and maintain financial freedom and achieve your long term trading goals.
Benefits of a trading coach
Highlight your strengths and weaknesses
One of the key benefits of having a trading coach is that they can help you see your strengths and weaknesses. This is something that as humans we can sometimes struggle to do. Having someone else help you recognise your strengths and weaknesses and how these relate to trading can help you see which areas you will need to focus on to improve your trading. It’s not a matter of saying “these are all the things you’re not doing right, here’s how to do them properly”, but rather your trading coach helps you identify that “you’re on the right track with this, so what we need to focus on are these other key areas to make sure it’s all aligned well and you’re on track to reach your goal”. Maybe you know all the theory but are hesitant to actually make the trade. Your trading coach will help you get your mindset in the right place so you are confident to take the trade.
Hold you accountable
It’s all well and good to tell yourself you’re going to do something, but without some sort of accountability it is very easy to give up when the going gets tough. Not only will your trading coach help you identify your weaknesses and work with you to improve your trading, but they will also remind you why you’re doing this in the first place and help you stick to your goals.
One of the things our coaches encourage our students to do is make long term and short term goals. A long term goal could be that you want to retire early or quit your 9-5. A short term goal is something you’ll do to help you reach the long term goal. This could be placing your first live trade or backtesting a strategy you’ve been learning. Your trading coach is there to ensure you’re on track to reach your long term goal and hold you accountable for the actions you take in your trading. We could teach someone how to trade until we’re blue in the face and they still won’t be successful until they accept that they are ultimately responsible for their success.
A trading coach may question why you took a particular trade that lost you money. Deviating from your trading plan and strategy is something all traders have done at some point, so having a trading coach to pull you up on it will help you stay on track to reaching your trading goals.
Help you reach your trading goals
Why do we trade? To make money. To retire early. To leave a job we don’t like. To spend more time with our kids. To have a second form of income in case, oh I don’t know, a global pandemic shuts down entire industries and stops us from earning our primary income. Whatever your reason for learning to trade, it’s always nice to have someone cheering you along and helping you get there.
Your trading coach is your friend, not your enemy. Yes they’ll pull you up when you take a trade that goes against your trading plan. Yes they’ll help you identify areas you need to work on to improve your trading. But ultimately, your trading coach is there to help you reach your trading goals, whatever they may be. When it all gets too hard and you feel like giving up, your trading coach is there to remind you why you’re doing this. They are cheering you on from the sidelines when you’re doing well and are there to help you back up when you’re not doing so well. Your trading coaches goal is to help you reach your goal.
Trading College Coaches
Because a trading coach is so important to your success as a trader, we only want the best coaches teaching our students. Our founder, Lee Sandford, started Trading College in 2009 with a goal of helping other traders achieve their trading goals. He hadn’t found any trading coaches in the UK to help him when he was learning to trade, so he travelled to the USA to learn before returning to the UK to open Trading College.
Lee’s now been trading for almost 20 years and has been teaching for 10 years. He’s a Certified Financial Technician (CFTe) and is qualified by the Society of Technical Analysts (STA). In his book, Goals to Gold, Lee talks about his journey from professional football to trading. Over the years he’s helped hundreds of students and with more and more realising the benefit of having a trading coach, we expanded our coaching team.
Raj Dhall is a technical analyst who has a special interest in probability and has been in the trading industry for about 10 years now. He’s also a CFTe, is qualified by the STA and is an expert in statistical and technical analysis. Raj works with traders of all levels, helping them understand the technical side of trading and achieve their goals.
Dan Brown has always had an interest in trading and decided to get serious with his trading and joined our Pro-Trader Programme. Dan was a quick learner and was quickly making excellent profits, getting closer and closer to his goal of owning a French Chateau. So much so that he decided he wanted to help others reach their trading goals and so became a Trading College coach. Dan now works with beginner traders to ensure they’re on the right track to reach they’re trading goals.
There has never been a better time to be a trader than right now. So if you’d like to get serious about your trading and achieve your long term goals, it’s time to get a trading coach. Whether you’re in the UK or elsewhere, our trading coaches can work with you to identify your trading goals and help you reach them, whatever they may be.
Take the First Step Toward Your New Trading Career
Lee is qualified at The Society of Technical Analysts, having passed his MSTA and CFTe with flying colours. To see Lee and our coaches use technical analysis, you can access our Live Trading Chat Room 5 days a week. If you’re looking to step into the world of online trading, we’d like to help. We offer both courses and mentoring opportunities to help you trade with skill and confidence. Join us for our free Learn to Trade Online course to really get your foot in the door! See here for more details and to find a date near you. Registration is now open for our Pro-Trader Programme! Join now and find financial freedom.
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