Having a coach in trading is just like having a coach in any other sport. It’s important! Every good investor had a coach. Warren Buffet, Paul Tudor Jones, Jack D. Schwager just to name a few, had one thing in common. A coach.
Trading and investing is like boxing. I’m reminded of an autographed picture I have of Muhammad Ali vs. Ken Norton.
Could you imagine stepping into the ring and getting punched by Ali? Of course not! As you can see in this photo Norton is defending a punch from Ali. That’s what his coach taught him to do and as you probably know Norton won this match in a split decision. The stock market is kind of like Ali in this picture. It will serve you knock outs all day if you aren’t prepared to fight. My job as a coach is to prepare you for the market so you don’t get knocked out when you step in the ring. Remaining in the fight and becoming the winner is a process. That means managing risk, playing defense, observing market behavior, managing emotions and placing high probability trades.
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Jeffrey Tiefenthaler | CEO of Trading Tech and Consulting LLC