If so, can you tell me your experience?
What did you get out of it?
Helpful or not?
Worth it or not?
Any additional comments would be appreciated!
Thanks!
Best Wishes,
John

Don't pay for a course / coach. 50% of trading information can come from online free resources, the rest come in the form of doing the work yourself and trying yourself.

powerthin 

If so, can you tell me your experience? What did you get out of it? Helpful or not? Worth it or not? Any additional comments would be appreciated! Thanks! Best Wishes, John

I have not but the idea seems very interesting. Have you used any coaches before? I have heard of a trader using Hypnosis to block his affinity to loosing money in the Silver Markets...it was an interview in one of the Market Wizards books.

Oiler 

I have not but the idea seems very interesting. Have you used any coaches before? I have heard of a trader using Hypnosis to block his affinity to loosing money in the Silver Markets...it was an interview in one of the Market Wizards books.

I've done numerous hypnosis sessions.
For me, they weren't a miracle cure.
I've also worked with just about ever trading psychologist out here.
Overall, I think it's helped.
However, I still find myself overtrading/revenge trading at times.
From my estimation, here's the reasons why and the solutions I'm currently working on:
1) WHat was I thinking in the moment.
I'm guilty of not being in the moment. I've got so much on my mind at any given time that I allow it to cloud my present minded thinking and perspective.
I'm working on being more mindful and present - especially when trading.

2) What am I feeling? During periods of overtrading/revenge trading, I'm usually thinking, "I've got to make this work." "I can't afford to keep losing." "I'm running out of time to make this work."
So, work in the self-talk department is certainly in order.

3) WHat Am I afraid of?
Never being a consistently profitable trader.
Having to work for someone else the rest of my life.
Not having the money I want to do the things I want to do when I want to do them and to have the things I want.
Finally what can I do NOW to NOT repeat this
Step away from the charts until I get centered, grounded and have my self-talk be more supportive of my trading.

I think it comes down to, "Developing the mind of a consistently profitable trader." This, of course, has a lot of different components to it.
Being ok with losses.
Not afraid to lose.
Being very patient to wait for the best set ups.
Being ok with doing nothing - just watching the screens.
Being ok with not making money every day.
Sound risk managment skills, etc...the list goes on.

I think it also comes down to aligning yourself with the trading journey you've chosen.
Really believing it's possible to be consistent.
Having a strong vision of yourself as a consitently profitable trader, etc...

How about you? Where are you at on your journey? What's been helping you so far?
Thanks!
John

powerthin 

How about you? Where are you at on your journey? What's been helping you so far? Thanks! John

Hey - this is just a note to everyone. Sharing some deeper thoughts.

Sometimes we are pretty hard on ourselves. I can relate to some of your comments. The big ones stem to my impatience with day trading. FOMO, Fear of loss not using stops : working on these now. Sometimes I have had good days (for me) usp $6000-$9000 and then bad days that have brought me to where I am today.
Today I am at the end of a 2 week break from day trading. Honestly, it has be fantastic.

I spent time with my daughter last week who is a college student, went to the gym etc.
Caught up with some family during the day. Set up a bird feeder, planted some tomatoes. Very nice- got to do things that I was keeping at bottom of to do list.

The 2 weeks have proven that I can be happier not trading. But then my self worth kicks in and wants to not just trade but trade better.

I am not going to do it like I did before. I will impliment many of the changes I dreamed of while being caught up over trading during the past many months.

My journey started 32 years ago buying mutual funds, then penny stocks (lost most of my teenage money), then trading options (did not know what I was doing but got lucky early and got hooked only to loose money while attending college). Got a real job and traded index option again only to stop and become an investor. Started making money buy and hold.
Jump 20 yrs fwd and I have had my biggest gains from non trading ventures in property.

Goal here is to be challenged by markets and grow.
That is easier said than done as the discipline I lack is what smacks me around while trading. Trading is not at all like buy and hold. Trading is a great mirror for me that I can look into.

My goal is to not be in a rush. As nobody cares what I am doing when I am trading so I better be doing it for the right reasons. Not to impress others.

PS - to eliminate FOMO and add Balance to my life the plan is not to trade everyday and start planning my week. Hit the links with my kids etc.

We are all at different stages in life, but my lesson from trading is ensure it does not affect how you treat your family. If it is then make some changes and look at the big pictue.

Questionable 

Don't pay for a course / coach. 50% of trading information can come from online free resources, the rest come in the form of doing the work yourself and trying yourself.

that works from some. Others need mentors - just like in pro sports and business. Mentors can help you avoid mistakes and speed up the process.

Imagine losing $50k in a day.
Then imagine investing in yourself a few hundred bucks with a mentor to avoid that.