make better trading decisions
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Make Better Trading Decisions. New Concepts on the Trader’s Thought Process. Today’s Agenda: The Current Trading Education Trading Education’s Challenge Changing the Paradigm Creating Trading Clarity Questions. Mark Fechner, CPC, ELI-MP 3000 hours of one on one coaching - PowerPoint PPT PresentationTRANSCRIPT
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New Concepts on the Traders Thought ProcessMake Better Trading Decisions
1Todays Agenda:The Current Trading EducationTrading Educations ChallengeChanging the ParadigmCreating Trading ClarityQuestions
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading DecisionsMark Fechner, CPC, ELI-MP
3000 hours of one on one coaching200 hours of group coachingActive Trader since 2002
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading DecisionsCurrent Trading Education
When we learn to trade, what is the focus of that education?
IndicatorsMoney ManagementRisk Management/Assessment
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions4Current Trading Education
Once you learn this, what do you spend most of our trading time doing?
How to manage your:IndicatorsMoney ManagementRisk Management/Assessment
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions5Current Trading Education
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions6Current Trading Education
Trading is not about indicators.Trading is not about money management.Trading is not about risk assessment.These are tools traders use.
Trading is about Clear DecisionsWhat tools we are going to use How we are going to use them. Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions7Trading Educations Challenge
Most traders adopt a trading method and make that method fit their life.
When that doesnt work, they look for another trading method
When that doesnt work, they look for another trading method etc, etc, etc.Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions8Trading Educations Challenge
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions9Changing the Paradigm
Instead of you trying to fit the method
what if the method were tailored to fit you?
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions10Changing the Paradigm
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions11Changing the Paradigm
What is a trading method?
A way of identifying tradable opportunities in specific market conditions.
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions12Changing the Paradigm
If you have a trending method,it works best in a trending market.
A trending method will do very poorly in consolidation markets.
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions13Changing the Paradigm
So how do we create a custom fitted method?
It requires clarity of your trading purpose.
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions14Creating Trading Clarity
So how do we create clarity about:What we tradeHow we want tradeWhen we trade
We need to ask why do we trade?
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions15Creating Trading Clarity
Why do you trade?(hint: its not about the money.)
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions16Creating Trading Clarity
By defining Why do you trade? you start to create purpose.
Purpose leads to GoalsGoals create Direction/PathDirection leads to Conscious Choices
*Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions17Indicator, $, riskTrading StrategyPurposeGoalDirectionConscious Choices
Creating Trading ClarityMark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions18Creating Trading Clarity
So What?Trading is about ChoicesWhen to trade and when not to trade.
Trend vs. ChannelMark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions19Creating Trading Clarity
Eliminating bad trades is the quickest way to more profitable trades
Eliminating bad trades means more money in your account
Eliminating bad trades means less work to make up for bad tradesMark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions20Questions?Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions21The Chicago Trading Groupwww.meetup.com/chicagotradinggroupSunday, December 9th20122:30pm CST (7:30pm UCT)
The Mastermind Sessions - weekly educational groupStarting January 2013 Strategy Building Course
$47 per monthMark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions22Call to Action
Mark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions23Mark Fechner can be reached via:Skype: tradermark61Email: [email protected]
www.meetup.com/chicagotradinggroupetradingcoachblog.wordpress.comTwitter @etradingcoachwww.facebook.com/etradingcoachMark Fechner, CPC, ELI-MP
2012MarkFechner
Make Better Trading Decisions24