This article in The Trader’s Pendulum Series discusses the Trader’s Scorecard, which is a way to come up with a baseline, or a standard for measuring the effectiveness of one’s trading business. In the last article we showed how a trader who is in Quadrant I or III of the Trader’s Quadrant (The Trader’s Trap) can move into the Entrepreneurial Quadrants II or IV by developing new habits. The key is to replace habits not supporting the growth of the trading business with habits that help. One of the first items on the agenda for these transformed traders is to fill out the Trader’s Scorecard and sign up for a free coaching session.
The Trader’s Scorecard is a short assessment to help you to understand how close you are from becoming an Entrepreneurial Trader, and whether your current habits and mentality supports the success of your trading business. Completing the Scorecard is the first part of the process. As the next step, I would like to invite you to set up a brief personal discussion with me to review your results.
If you are considering starting a coaching program for traders, allow me to give you some pointers. An ideal coaching program is tailored for you and is not a one-size-fits-all program. The trader’s ultimate goal is to become an Entrepreneurial Trader based on the “10 – Habits” described in my book. Our coaching process includes an Assessment, the Roadmap, and the Implementation as outlined below. You may use this as a guide in your search for a coaching program.
The best way to accelerate your trading business success is for you to be guided by an experienced coach. I would like to offer you a free 30-minute coaching consultation. During the Assessment phase, we will discuss the following question: Over the next year, what has to happen in your trading career for you to feel you are achieving your full potential as a trader? We will end the session with an action plan for the three most important steps you can take right away.
Most successful business people engage coaches or mentors at various points in their business development to help them grow. At the most basic level, observe what top traders do in their trading business and model their habits of success.
Three of the Top 10 Habits
Habit #1 Establish a Trading Business for the Right Reasons
Habit #2 Complete a Trader’s Business Plan
Habit #3 Define Your Goals
If you’re interested in working through these habits, the book is a blueprint for the 10 Habits for you to follow and make your own.
If you agree that you want to become a trader or investor who stays out of the Technical Trader’s Trap, then you will need to become an entrepreneurial trader.
I created the FX Trader’s EDGE Coaching Program modelled after the “10 Habits of Successful Traders”, which is the title of my newly published book by Wiley.
Excerpted with permission of the publisher John Wiley & Sons, Inc. from The Trader’s Pendulum: The 10 Habits of Highly Successful Traders. Copyright (c) 2015 by Jody Samuels. This book and ebook is available at all bookstores, online booksellers, and from the Wiley web site at www.wiley.com.