7 Professional Coaching Lessons - FX Trader Magazine
Reaching HighPerformanceSolution FocusedTradingDev elopi ngR e si li e nceTRADER MAGAZINELosi ng li k e aWinnerImprove TradingdecisionsOvercomingPerfectionism7 professionalMental Trainingfor Successcoachinglessonsto reach your trading goalsb y S t e v e Wa r d7 professional coaching lessonsCopyright 2012, FX Trader Magazine, Riflexo
FX Contents7 Professional Coaching Lessons To Reach Your Trading GoalsLESSON 1 - REACHING HIGH PERFORMANCE05Sport, Trading and Poker - Where high performance meet- High Performance is Multi-Dimensional- Trading Performance Profile- Create the Conditions and Opportunities for Success- Performance is State Dependent- Confidence is Key- Decisions Making- Learn to Handle Losses Like a Winner- ConclusionPractice: 6 Exercises to “Raise Your Game”LESSON 2 - SOLUTION FOCUSED TRADINGGetting the Biggest Bang for you Buck- Identifying Strengths- Utilising Strengths- Focusing On and Building On Strengths2 FX TRADER MAGAZINE Special Supplement11
CONTENTSLESSON 3 - DEVELOPING RESILIENCEFX15Trader Toughness Training - Developing resilience to cope with losses,setbacks and tough times- Resilience, the key to long term trading success- Mindset: the middle man of your experience- Lessons from Cognitive Psychology and the US Military- Two Other Dimensions to Trading Resilience- Get Tough!Practice: 2 Exercises for Developing ResilienceLESSON 4 - LOSING LIKE A WINNER203 Steps to Help You Deal With Trading Losses More Effectively- Step 1: Reduction- Step 2: Responding- Step 3: Recovery- SummaryLESSON 5 - OVERCOMING PERFECTIONISM24Trading is not a game of Perfect- Perfectionism, a Trading Vice- Do You Have Perfectionist Tendencies?- 7 Ways to Overcome Perfectionist TendenciesFX TRADER MAGAZINE Special Supplement 3
FX ContentsLESSON 6 - MENTAL TRAINING FOR SUCCESS27Practical Exercises for Managing Emotional States, Developing Focus and Conditioning Positive Trading Behaviours- Emotional State Regulation- Getting into the Trading Zone- Visual Power- Your Mental Training PlanPractice: 3 Mental Training ExercisesLESSON 7 - IMPROVING TRADING DECISIONS313 Steps to Improving Your Trading Decisions- Introduction- The 3 steps: . Understanding. Awareness. ManagementCONCLUSION35ABOUT THE AUTHOR:Steve Ward is currently one of the most respected trading performance and psychology coaches, who works withtraders, trading desks and fund managers at investment banks, funds, energy companies and proprietary trading groupsacross the globe providing coaching, training and consulting services. His previous background was in sports andperformance psychology where he worked with elite level athletes and teams up until 2005 when he began working withtraders.His work utilises techniques and strategies from sports and performance psychology, cognitive behavioural andperformance coaching, mindfulness, and behavioural finance in a pragmatic and practical approach that helps traders tomaximise their trading performance.Steve is the owner of ‘High Performance Global Ltd’, the author of ‘High Performance Trading : 35 Practical Strategies ToEnhance Your Trading Psychology and Performance’ and has written extensively for many leading trading publications.4 FX TRADER MAGAZINE Special Supplement
reaching high performance FXSport,TradingandPokerWhere High Performance MeetWinning at professional sport Profitable financialtrading Successful poker. What is the connection?The answer is that there are many different connections betweenthe three which I have been able to see first hand in my workas a former sports psychology consultant who has for the lastsix years specialised in working with financial traders and morerecently added poker players to the roster as well. In this articleI would like to share with you a few insights into some of thepsychological and performance factors that successful peoplein all three areas share and to provide you with some of thecoaching techniques and strategies that I utilise with my ownclients to help you to raise your own trading game.I utilise a similar framework in trading where thecategories are skills/knowledge, strategy, risk managementand psychology (see ‘Trader Performance Profile below)and I also apply this to poker with risk managementbecoming staking.Trading Performance Profileskills/Knowledge10High Performance Is Multi-DimensionalAt the highest levels performance in sports, trading andpoker are not simply about skill, there are other factorsthat determine success.In sports we can look at performance across four areas or pillars: skills/technical physical/fitness tactical/strategic mental/psychologicalpsychology 10010strategy10risk ManagementDiagram : Trader Performance ProfileFX TRADER MAGAZINE Special Supplement 5
FX reaching high performance RAISE YOUR GAMEComplete the Trading Performance Profile by rating yourcurrent abilities out of a maximum of 10 on the diagram, wherea 10 would be your ‘best possible’.Once you have marked your score on each of the four scalesjoin the points together to create a diagram that gives a visualrepresentation of your overall scores (see below).Look at your relative areas of strength and areas for development,1. Build on your strengths.2. Address the key areas for development. Take action.Implement new ideas, read, ask people, get some training,mentoring, coaching.In the b o o k ‘ Th in k L ike A Winner ’ authorYehuda Sh inar ta l k s ab o ut ‘creating theconditions and opportunities for success’, whatI o f ten ref er to a s ‘stacking the o dd s in yourf avo ur ’. When yo u turn up to p lay in sp or tsor p o ker or trade the markets e ven b efore youstart there are thing s that you can do or not dothat wil l either in crea se yo ur chan c es of suc c essor de crea se them . On e o f the mo st b a s ic andf undamenta l performance processes that I tr yan d instil with in my cl ients is to ensure thatthe y ‘warm-up’ or ‘prep are’. In trad ing th ismeans the research and analysis you do, planningan d strate g y de vel opment, l o o king at p oss ib lescenarios that may occur and how you will react tothem (‘ What If S c enario’ p lann ing ) , and a ls oensuring that yo u are menta l l y an d p hys ica l lyready, in a p o sitive state.Trading Performance Profileskills/Knowledge 10RAISE YOUR GAMEWhat can you do before trading that ‘stacks the odds in yourfavour’?How can you prepare most effectively to trade the markets?psychology 10010strategyHave you considered the ‘What If’s?Per f ormance Is State D ep endent10risk ManagementDiagram : Example Trader Performance Profile Showing RelativeStrengths/Areas For ImprovementCreate The C ond itions and Opp or tun it y ForSucce ss“Victorious warriors win first and then go to war, whiledefeated warriors go to war first and then seek to win.”Sun Tzu (From The Art of War)6 FX TRADER MAGAZINE Special SupplementIt’s the la st f e w se c on ds o f the g ame and thebasketball player has the ball on the free throwline to make the winning shot. What influenceswhether he sc ores or m isses ?It’s a f a st mo ving market an d the financia ltrader ha s a f e w se c on ds to ma ke a d e cis ion a sto whether to place his trade or not, and if hedoes, to exe cute it corre ctly. What influenceswhether the trader exe cutes wel l or not, may b ee ven f at f ing ers ?
2 FX TRADER MAGAZINE Special Supplement. LESSON 3 - DEVELOPING RESILIENCE 15 Trader Toughness Training - Developing resilience to cope with losses, setbacks and tough times - Resilience, the key to long term trading success - mindset: the middle man of your experience - l
training and can present risks to their coaching business. There are specific coaching niches such as substance abuse recovery coaching or ADHD coaching where the coach has specialized training to address the client's distress and in those circumstances, it may be appropriate for them to begin coaching at this level. 2. Resilience Coaching
Coaching program flow This is a generic coaching program flow that can be tailored to organisational and individual needs. Typically coaching programs are six months (nine hours of coaching) or 12 months (15 hours of coaching). Coaching Approach Overview and outcomes In my approach, responsibilities are shared. The coachee drives responsibility
Contents. Introduction 2 Part 1: Coaching - the current position 3 Part 2: Defining and demystifying coaching 11 Part 3: The key players in the coaching relationship 18 Part 4: Making the case for coaching 23 Part 5: Preparation and setting the scene 29 Part 6: Choosing the right coach 32 Part 7: Coach selection and matching 38 Part 8: Managing the onward coaching engagement 46
P Coaching con PNL. P Los anclajes en la sesión de coaching. P 2019 Niveles lógicos. P Creencias poderosas y limitantes. P Las posiciones perceptuales en la sesión de coaching. P Integrando las técnicas básicas de PNL en la sesión de coaching. Tema 8 14 y 15 de junio de 2019 Coaching en las organizaciones educativas y coaching de grupos y .
P Coaching con PNL. P Los anclajes en la sesión de coaching. P 16 Niveles lógicos. P Creencias poderosas y limitantes. P Las posiciones perceptuales en la sesión de coaching. P Integrando las técnicas básicas de PNL en la sesión de coaching. Tema 8 29 Y 30 DE MARZO DE 2019 Coaching en las organizaciones educativas y coaching de grupos y .
sales coaching. Sales managers need to understand why coaching has such a high return on investment. Let’s start by defining sales coaching: Sales coaching focuses on helping reps develop the skills, knowledge, and use of strategies that improve sales results. Based on this definition, the reasons why reps benefit from sales coaching are
Six Coaching Practices in Higher Education Coaching Beliefs Coaching Progression Over Time Coaching . Next Steps Accountability. Option B: Content-Based Coaching Approach Overview, Expectations, & Story Purpose/ . Moving Forward Strengths and Values Time Purpose Your personal preference
For conventional executive coaching it is normal to have one coaching session each month for a period of six to twelve months. The Different Concepts Included in Shadow Coaching From the definitions and literature above concepts of shadow coaching include: on-the-job, observation, real-time, fast-paced, feedback, reflection, executive coaching .
