How important is psychology to trading?
Simply put, your psychology makes you or breaks you as a trader. You can have the most profitable system; and if you don’t trade it, won’t trade it, can’t trade it, it does you no good and can cause you a lot of harm. Your attitudes, your beliefs, your thoughts, and your emotions are crucial to your trading.
Do you teach trading strategy?
No, I don’t. I am a psychological trading coach. I teach you to balance your emotions, and maintain discipline and focus. After you work with me, you will be as good as your methods. However, as we work together, if I perceive anything faulty with your methods, I may be able to help you improve your approach.
Is it just as successful to do the consulting on the phone as in person?
Yes, it is; for years I have coached people all over the world and get the same results as if they had been with me in person.
How soon can I expect results from the coaching?
Some people experience immediate improvement. For others there is a gradual development of helpful attitudes. Personal development is incremental and continues as long as you continue.
When we begin the coaching, we develop an outcome statement regarding what you want to accomplish in our mentoring. Each week we roll up our sleeves and take action to get you where you want to go. Almost always my clients achieve their outcome.
What techniques do you use?
I use whatever works: behavior modification, NLP (neuro-linguistic programming), rapid imaging, mental rehearsal, goal setting, visualization, self-hypnosis, and hypnosis.
What if I don’t want to use hypnosis? Can you still get results?
Absolutely. I will make you auditory tapes without the hypnotic induction. There are many ways to assist you in becoming the consistent trader you want to be.
I’ve lost so much money trading that I now have trouble pulling the trigger on a trade. Is there anything you can do to help me?
Yes. There are many ways to lessen past painful experiences. Through mental rehearsal you will create a new optimism and confidence in your new strategies. I’ve had clients who absolutely could not put on a trade begin to take all their signals.
I don’t want to feel any emotion when I trade. I want to trade like a neutral machine. Can you help me do that?
You are a human being and will always have emotional responses to thoughts and experiences. Tamping down euphoria and despondency doesn’t work. I will help you develop detachment from results and help you moderate your fear to caution and your greed to healthy desire. I will help you balance your fear and your greed. I will coach you to stay in the present in time so you don’t go backward to regret or assuming the past will repeat, and you don’t go forward into the future with fear or false assumptions.
You say it is important to be optimistic about the future of your trading. I’m a natural pessimist; can anything be done about that?
Yes. The interpretations you give to experience and future possibilities are habits. Habitual patterns can definitely be changed.
How do I decide between your audio course, Power Trading for Power Profits, and your personal coaching? What is the difference?
Power Trading for Power Profits addresses the strengths and weaknesses of most traders. It is a generic program that fits all traders. The personal coaching is tailored just for you. However, in Power Trading for Power Profits you do get a one hour consultation that is focused on you. I make suggestions, and we do exercises on the phone, and I make you a personalized CD.
Some people prefer to start with the Power Trading for Power Profits, and after their hour of mentoring, understand the value of what we can do together, and they decide they definitely want to sign up for my coaching program. Others prefer to get started with the personal coaching right away.