The big mistake new traders make is to think they don’t need a coach. The bigger mistake is to pick the wrong coach.
After all, since your return is only as good as your trading coach, it is imperative that you find this individual with great care and undivided attention.
Do you really need anexpert assistant to make profitable trades? Yes, you do!
And if you aren’t sure, answer these questions:
- Do you know EVERYTHING about thestock market?
- Do you think you can optimize your strategy for ahigher return?
- Do you find yourself panicking during bearish and bullish trends?
- Do you want to make a solid and sustainable portfolio?
If you answer these questions with a big “yes”, you need a good trading coach by your side. And even if it was a “no”, go with an expert anyway. The world of trading is too big with new and unknown turns. Having someone watching your back is always a good idea; your strategies will be much better, growth viable and risk minimum.
Now comes the second blockade on the path – how to choose a good trading coach?
It isn’t really that difficult. All you need to do is keep your eyes open, mind thinking and follow these simple yet hushed tips:
- The Coach Must Make This About You
The whole relationship between you and the trading coach must be all about you – your needs, financial goals, fears, problems and so forth. The person must understand who you are as a trader and offer you personalized solutions. She/he should act more like a friend, than an expert, who genuinely wants to help you grow your wealth.
- The Coach Must Have Impeccable Analytical Skill
This one is, of course, a must. The coach must be competent enough with the right set of technical skill. She or he must be qualified and experienced with a proven track record of helping clients be a better trader and reach their goals of big riches at minimal risk.
- The Coach Must be Accessible All the Time
A good coach is always accessible to the clients. Maybe the market trends have shifted, maybe you’re panicking over the latest news – you must be able to talk about these, whenever you want to, with your coach. And she or he must give you the right assistance and advice in every problem.
- The Coach Must Help You Develop a Routine
Trading is all about being patient, disciplined and on astrict routine. This is how successful traders are made. Sadly, getting into that zone is difficult. And this is where a good coach must come in – to help you not just with the right strategies but to help you, with a holistic approach, form a personal routine to become a better trader.
- The Coach Must Make You More Money
This goes without saying – the reason you have a trading coach with you in the first place is to make more money. A coach must work to optimize each of your trades and help you grow your wealth with the right wealth management skills. If you don’t see any difference in your bank balance in the following months, it’s likely you have picked the wrong coach.
These are 5 simple and hushed tips to help you find the best possible trading coach; look for these mentioned characteristics and signswhen screening the experts.
Of course, the selection process won’t be easy and there would challenges – after all, the best trading coach won’t have the “best” tag. But the whole effort is very much worth it.