How To Pick A Trading Coach - 5 Steps To Finding A Trading Coach

[Brendan Egan]

As you know, I have been offering trading coaching through 123LearnToTrade for several months now. However, my trading strategies and my approach to the market is not for everyone, and there certainly are individuals who are looking for a trading coach to teach them about other types of strategies. So I have outlined a few things I think are important when picking a trading coach.

1) Make sure the coach trades as well as coaches. A lot of people out there simply start trading related websites but they themselves don't actually trade. Make sure you are getting coaching from someone who still plays an active role in the markets or if they don't trade as much since they spend their time coaching, make sure they at least follow the markets and have a good grasp of what is currently going on in the financial world.

2) Make sure they teach a time tested method. Tons of people try to sell indicators and softwares that time the market and tell you when to buy and sell. They then also make more money by selling support for these systems and softwares. Make sure your trading coach is in touch with the market and truly understands markets before you move forward with them.

3) See if they will offer a free consultation. Not everyone's personalities or trading styles are compatible. This is the main reason why I always offer a free consultation to anyone interested in receiving coaching from me. If the coach you want to work with doesn't advertise a free consultation, ask them if they will offer you one and I think most coaches will be open to it.

4) When in doubt, check them out. Find a coach that has reviews and has been coaching for some time. Most trading coaches also will have a trading blog or some other free form of educational materials that you can read before you sign up with them. These can provide important clues as to how the coach trades, teaches, and what their personality is like.

5) Find a well rounded coach. Trading psychology is just as important as money management which is just as important as analysis which is just as important as... I think you get the idea. Make sure your trading coach focuses on all aspects of trading and doesn't just specialize on one specific aspect. To be a successful trader, you must be well versed in all things trading, and a good trading coach should bring all the elements of trading to the table.

By following these 5 simple steps I think you will be well on your way to finding a quality trading coach, and more importantly getting a quality trading education. If you would like more info on my coaching services, simply click here.