How do I choose a trading coach? Do you have any recommendations? How much should I be paying, and how well do they really work? Any other advice would be helpful.
Personally, I have never used a “trading coach.” Perhaps one could have helped me become a better trader, but I will never know …
In my thinking, a trading coach is only necessary if one is having issues with his or her discipline. Now, I am sure some would say, “Oh, but a trading coach does so much more than help with discipline.” Well, that may well be true, but, again, in my thinking, it is better for a trader to slog through the process of learning how to trade, both making mistakes and making money. When one or the other happens, the learning trader analyses that thing to find out what he or she did in that process. I believe that experience is the best teacher, and in trading, nothing substitutes for experience. I attended a university that has the motto,” Learn by doing.” I still believe this to be true, and I practice this philosophy today.
So, unless you are having trouble with discipline, my advice is to throw yourself into the fray with a minimal capital account. Along the way, read everything you can about the market you are trading, talk to anyone who knows anything about what you are trying to learn, and take advantage of any and all free educational opportunities, such as this site. In short, get to work trading and learn how to do it.
I have no recommendations as to which trading coach would work for you, nor do I know how much you should pay. How well does the concept of using a trading coach work? If you ask someone who has succeeded with the aid of a trading coach, you will get one answer. If you ask someone else who thinks he or she threw away money using a trading coach, you will get another answer. As with everything else in life, what you get from any endeavor is at least equal to what you put into that endeavor.
Trade in the day; invest in your life …
