Posts Tagged "Coaching"

Leicester City – Premier League Champions 2016

Posted by on May 20, 2016 in Editorial, Featured, Learning to Trade?, News

Leicester City – Premier League Champions 2016

If you’ve just returned from another solar system, you might not know that Leicester City football club won the English Premier League title for the first time in their history in 2016. Starting the season as 5000-1 outsiders, they triumphed over many well known and better funded clubs. I confess that I am not a follower of football. As a Leicester citizen, I couldn’t help but be riveted to the media coverage of this local success story. So why am I writing about a football success story on a trading website, apart from the fact that Plan B Trading is based in Leicester? I think the undoubted success of Leicester City has many parallels with the trading world. Not least of these is belief. Even if those around them did not believe it was possible to succeed, the team held on to that belief. Their confidence led to many a successful match when pundits would have them in second place. In trading any given strategy, you must have the confidence in the strategy to deliver a result. Hesitation is not a characteristic associated with success. Another lesson we can learn from Leicester’s football success is the time it takes to become a national phenomenon. This did not happen in a single match any more than a single profitable Forex trade makes a successful trader. We cannot measure success in trading in a single trade. During the football season, Leicester did take some losses – not too many as it happens. There were quite a few matches they did not win. Did they let this affect their next game, or did they just train harder? By the end of the season, they had many more points than any other team. As a trader, you must not allow your mindset and confidence to be wrecked by a losing trade or a run of non-profitable trades. You need to cope and not carry this negativity into your next trade. This might mean cooling off by staying out of the market for a period of time. Or reducing your exposure until your confidence returns. Or it might mean spending some time with your coach or mentor revisiting some of the basics. At the end of the day, you must measure your trading success over the longer term and not a trade by trade...

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Trading in Pairs

Posted by on May 20, 2014 in Featured, Learning to Trade?

Trading in Pairs

Sometimes it’s really hard to get motivated. I think that the majority of us suffer from this lack of motivation from time to time. We all have things that we want to accomplish and we make excuses – there are not enough hours in the day, I was going to do it but then XYZ came up. The truth is if we want to do something we should push and motivate ourselves to do it. Believe me, I understand that it is easier said than done. One of the most underrated and underused ways to get motivated and keep motivation going strong is by taking part in an activity with someone else. You push each other to continue, persevere and progress. This also applies to trading. Plan B Trading offers coaching for pairs and our previous experience suggests that when people start their journey in pairs they progress, develop their skills and enter the real market much quicker. It is always great to be able to talk to and confide in someone who knows exactly what issues you are facing and people who are in a similar situation are often more empathetic as they are experiencing similar struggles. Trading in pairs can bring you closer as there is more common ground and there will always be market issues to discuss. Our courses take place in London, Birmingham, Leicester, Manchester, Southampton or can even be scheduled over Skype should that be more convenient. If you have any questions about trading in pairs or the courses we offer please do not hesitate to get in touch or contact us on...

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