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Make Better Trading Decisions

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

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Make Better Trading Decisions

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  1. Make Better Trading Decisions New Concepts on the Trader’s Thought Process

  2. Today’s Agenda: • The Current Trading Education • Trading Education’s Challenge • Changing the Paradigm • Creating Trading Clarity • Questions

  3. Mark Fechner, CPC, ELI-MP 3000 hours of one on one coaching 200 hours of group coaching Active Trader since 2002

  4. Current Trading Education When we learn to trade, what is the focus of that education? Indicators Money Management Risk Management/Assessment

  5. Current Trading Education Once you learn this, what do you spend most of our trading time doing? How to manage your: Indicators Money Management Risk Management/Assessment

  6. Current Trading Education

  7. Current Trading Education Trading is not about indicators. Trading is not about money management. Trading is not about risk assessment. These are tools trader’s use. Trading is about Clear Decisions What tools we are going to use How we are going to use them.

  8. Trading Education’s Challenge Most traders adopt a trading method and make that method fit their life. When that doesn’t work, they look for another trading method When that doesn’t work, they look for another trading method etc, etc, etc.

  9. Trading Education’s Challenge

  10. Changing the Paradigm Instead of you trying to fit the method… what if the method were tailored to fit you?

  11. Changing the Paradigm

  12. Changing the Paradigm What is a trading method? A way of identifying tradable opportunities in specific market conditions.

  13. Changing 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.

  14. Changing the Paradigm So how do we create a custom fitted method? It requires clarity of your trading purpose.

  15. Creating Trading Clarity So how do we create clarity about: What we trade How we want trade When we trade We need to ask why do we trade?

  16. Creating Trading Clarity Why do you trade? (hint: it’s not about the money.)

  17. Creating Trading Clarity By defining “Why do you trade?” you start to create purpose. Purpose leads to Goals Goals create Direction/Path Direction leads to Conscious Choices *

  18. Creating Trading Clarity Purpose Goal Direction Conscious Choices Trading Strategy Indicator, $, risk

  19. Creating Trading Clarity So What? Trading is about Choices When to trade and when not to trade. Trend vs. Channel

  20. Creating 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” trades

  21. Questions?

  22. The Chicago Trading Group www.meetup.com/chicagotradinggroup Sunday, December 9th2012 2:30pm CST (7:30pm UCT) The Mastermind Sessions - weekly educational group Starting January 2013 Strategy Building Course $47 per month

  23. Call to Action mark@etradingcoach.com

  24. Mark Fechner can be reached via: Skype: tradermark61 Email: mark@etradingcoach.com www.meetup.com/chicagotradinggroup etradingcoachblog.wordpress.com Twitter @etradingcoach www.facebook.com/etradingcoach

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