New to trading
Connor had been a successful CEO of a software development company for over 20 years. Back in the late ‘70s, he chose to enter the computer industry simply because his college counselor touted its tremendous growth and monetary potential.
His career counselor was half right. Software development was a great profession for future growth and monetary reward; however, it was a terrible fit for Connor’s talents, abilities and passions. Despite his successful business, Connor never really loved or excelled at programming or running a business. It was merely a way to make a solid living and put the kids through school. Over the years, he became exhausted and disenchanted. Every day was a grind. He wanted out but he had no idea what to transition to.
Connor ended up in our office as a career coaching client, asking the question: “What can I do that I would really love doing, that would be a good fit for my talents, and that would still afford me the autonomy that I am used to as an owner of my own business?”
We engaged him in our proprietary Career Matrix process. The profession that best matched his skill set, interests, values and passions turned out to be trading. At that juncture, we both knew that this was the beginning of quite an interesting ride. As a client, Connor transitioned to our trader coaching program.
Rarely do we have the opportunity to work with a virgin trader. There were no bad habits to correct, no stories to investigate, and no negative experiences that shaped a problematic perspective – at least not from trading. In front of us was a rookie replete with pure passion, hope and enthusiasm, oblivious to the corrections that the market and JMA were about to deliver.
We inundated Connor with new learning, experiences and thinking. We recommended books, offered assessments, and structured his learning and homework to support his desire to be a successful independent trader. Throughout, we warned him how difficult this new profession would be and how slim the odds were that he would make it. This did not deter him and so we continued on.
We offered exposure to individual traders, trading companies, and trader rooms, groups and programs. We discussed possible trading methodologies. We determined appropriate trading market personality fit and chose trading indicators, simulators, etc. Then, we encouraged lots of simulated trading and provided structured homework and accountability. We provided a framework for journaling that increased his capacity for observering himself and the marketplace. Slowly, we were building a trader from the inside out.
During trading hours, Connor practiced simulated trading. After the close, we had him keep a journal to review and analyze successful trades, unsuccessful trades and missed trades. We continued to add more learning and more review. Some days, Connor spent more time completing the structured homework than he did trading the market. It was designed that way. Discipline, practice, review, analysis, repetition and reflection were skill sets he needed to use daily and continually hone. We wanted Connor to approach this as though he was a competitive athlete preparing repetitively for “game time.”
It was over a year later when game time finally arrived. Connor was well prepared and cautiously confident, and we both felt he had a great foundation for success.
Connor loved trading and expressed, “I’ve never felt more passionate about any endeavor that I have ever undertaken in my life.” It was a great career choice. Despite working longer hours than he did as a CEO, he never looked back and he enjoyed every minute of it.
Financially, he broke even his first year, showed a healthy profit his second year, and in his third year, he enjoyed making a six-figure return.
Connor’s enthusiasm for life has grown measurably. He is more alive and engaged in his new work and his passion bleeds through to his family and friends. He’s almost too enthusiastic! He excitedly attempts to talk friends and family members into joining him in his newfound love: trading.
Please note: The names of clients, their employers and certain identifying details have been changed to respect their privacy and maintain confidentiality.
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