{"id":29862,"date":"2013-08-12T11:18:12","date_gmt":"2013-08-12T15:18:12","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=29862"},"modified":"2023-05-24T17:24:04","modified_gmt":"2023-05-24T21:24:04","slug":"get-a-trading-coach-already","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/get-a-trading-coach-already","title":{"rendered":"Get a Trading Coach Already"},"content":{"rendered":"

There is little evidence of anyone competing at the highest levels without critical feedback, coaching, and mentoring (coaching is what happens in real-time and mentoring after the close). I received this e-mail yesterday that can teach us about the power of trader coaching and education.<\/p>\n

Dear Mr. Bellafiore,<\/p>\n

\u00a0\u00a0\u00a0\u00a0 I wanted to send you a quick email to thank you for writing \u201cThe Playbook\u201d and your earlier book, \u201cOne Good Trade\u201d as well as co-founding SMB Capital, creating SMBU and the SMB blog. Having read many books on the markets and trading, for me, maybe 5% of books make 80% of the difference. Personally I count your 2 books among the 5%…….<\/div>\n
\u00a0\u00a0\u00a0\u00a0 I took several powerful points from your latest book that I had not seen before from any other book. Probably the most powerful for me was your point about how there had never been recorded evidence of an elite performer ever getting to that status without some form of regular critical feedback from an elite coach. Since I have received literally zero critical feedback on my performance in the markets over the past nine years, this point really excited me. This alone will no doubt change my life in a very positive way. I have already begun the process of fixing the situation. Although I am overall consistently profitable, I sense I could reach much higher levels of skill.<\/strong><\/div>\n
\u00a0\u00a0\u00a0\u00a0 Also GMan\u2019s story about going through a slump and pulling himself out was very powerful. I do not get to hear stories like that from successful traders, often enough. It helps put everything into proper context.<\/div>\n
\u00a0\u00a0\u00a0\u00a0 Your points about a lack of good Collegiate training for traders are spot on. As a Finance major in College and later an MBA focusing on investing\/trading. I had the Efficient Market Theory crammed into my head. Which I have come to calling it the \u201cCWDT\u201d \u201cCan\u2019t Win, Don\u2019t Try\u201d Theory. It has to be the most worthless, lazy theory in the world, for teaching the next generation of market and business leaders. You cannot build a solid playbook of trading strategies, or even a playbook of business strategies if the starting premise is: \u201cThe market is so competitive you are better off just throwing darts and diversifying\u201d.<\/div>\n
\u00a0\u00a0\u00a0\u00a0 Please thank your co-founder Steve for me, for taking on the challenge of creating SMB Capital with you. I suspect SMB has changed many people\u2019s lives in a positive way (Including me). Even for those who did not \u201cMake it\u201d at your firm as a trader, I am confident they improved more than they know from the experience.<\/div>\n<\/blockquote>\n
@mikebellafiore<\/strong><\/div>\n
It is amazing that traders try to excel without critical feedback. Imagine if you learned your favorite team had decided to go coach-less.<\/div>\n
\n
Breaking News:\u00a0<\/strong>The Knicks have decided they will not be employing coaches for the 2013 year.<\/div>\n
Breaking News:<\/strong> \u00a0The Yankees have announced they will not be using a manager, bench coach, 1st base coach, 3rd base coach, pitching coach, hitting coach, bullpen coach, trainer, physical trainer, media coordinator, sports psychologist, or any other coaches for the 2014 season. (They also raised ticket prices five percent.)<\/div>\n<\/blockquote>\n
Insane right? However, this is trader landography.<\/div>\n
\n
Breaking News:<\/strong> Tiger Woods has fired his swing coach and caddie effective immediately.<\/div>\n
You might think: Oh no, Tiger is having another break down<\/em>.<\/div>\n<\/blockquote>\n
From The PlayBook:<\/em><\/div>\n
\n
Let\u2019s study some elite performers because traders are, at their most basic, just elite performers, and learn about their coaching so that we can put to rest any feeblemindedness that\u00a0traders don\u2019t need continuous great coaching. I nominate a look at my favorite athlete, Phil\u00a0Mickelson, perhaps the second-best golfer in the world. He makes more than $40 million a year.\u00a0He is so rich that he just bid for a stake in the San Diego Padres. He has won multiple majors.\u00a0He certainly doesn\u2019t need a coach, right? No. He employs a team of coaches who help make him\u00a0better.<\/div>\n
Here is a quick summary of the instructors Mickelson employs that help him improve each facet of his game. He employs a putting\u00a0mentor, Dave Stockton. He hired a short game tutor, Dave Pelz. He has one teacher who works\u00a0on his long swing, Butch Harmon (famous for building Tiger Woods\u2019s first swing). He has a\u00a0caddie, Bones, whom he consults before every shot, like pilot and c0-pilot, discussing the best flight path.\u00a0He pays for a physical trainer, Sean Cochran, who helped him lose 20 pounds. Mickelson\u2019s\u00a0personal regimen consisted of increasing flexibility and power, eating five smaller meals a day,\u00a0doing aerobic training, and carrying his own golf bag. He works with a mental counselor, Julie\u00a0Elion, whom he credits with helping him overcome bad weather and rough conditions to finish\u00a0T2 at the British Open. Mickelson even has been receiving advice from 2011 PGA Championship\u00a0winner Keegan Bradley on a new putting technique with a belly putter. The guy has a lot of coaches. If an elite performer like Mickelson has so many coaches, then why don\u2019t you as a trader?<\/strong><\/div>\n<\/blockquote>\n
\n

You can be better tomorrow than you are today!<\/p>\n<\/div>\n

Mike Bellafiore<\/p>\n

One Good Trade<\/em><\/a><\/p>\n

The PlayBook<\/em><\/a><\/p>\n

\"\"<\/a><\/p>\n

no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

There is little evidence of anyone competing at the highest levels without critical feedback, coaching, and mentoring (coaching is what happens in real-time and mentoring after the close). I received this e-mail yesterday that can teach us about the power of trader coaching and education. Dear Mr. Bellafiore, \u00a0\u00a0\u00a0\u00a0 I wanted to send you a quick email to thank you … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2444,2449,4703,2448,2451,4706,4707,1718,653,2445,1989,4712,4690,1888,207],"class_list":["post-29862","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-daytrading","tag-how-to-be-a-day-trader","tag-learn-trading","tag-prop-trade","tag-stock-market-course","tag-stock-trading-education","tag-stock-training","tag-the-playbook","tag-trader-training","tag-trading-careers","tag-trading-course","tag-trading-courses","tag-trading-education","tag-trading-school","tag-trading-stocks","no-post-thumbnail"],"yoast_head":"\nGet a Trading Coach Already | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/get-a-trading-coach-already\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Get a Trading Coach Already | SMB Training\" \/>\n<meta property=\"og:description\" content=\"There is little evidence of anyone competing at the highest levels without critical feedback, coaching, and mentoring (coaching is what happens in real-time and mentoring after the close). I received this e-mail yesterday that can teach us about the power of trader coaching and education. Dear Mr. Bellafiore, \u00a0\u00a0\u00a0\u00a0 I wanted to send you a quick email to thank you ... 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