CNBC: In Battle for Dominance, Traders turn to Coaches

Thank you to Nia Williams for penning the following article published today: 'In Battle for Dominance, Traders Turn to Life Coaches'. Of course I would have preferred the writer to have used the word 'Performance Coaches'; there is a big difference between a 'Life Coach' and a 'Trader Performance Coach'. - Life coaches work with individuals on aspects of their every day life, and are largely seen as, rather unfairly, a little new age and almost other-worldly. On the other hand Trader Performance Coaches have their roots in understanding what is occurring within the 'Minds and Behaviour of Traders' from having 'walked-in-their-shoes' and worked with them extensively.

My experience as a Trader Performance Coach, draws on over 25 years in the financial markets, principally as a trader in the Foreign Exchange, Rates and Fixed Income markets for some of the world's leading investment banks. This is buttressed by having studied and qualified at one of the world's top 'Executive Coaching Schools' and worked as an 'Executive Coach' with traders, brokers and managers at many leading investment banks and brokerage firms. I have also provided education and consultancy work on many aspects of trader performance and psychology, this includes creating a portfolio manager development programmes and supporting documentation for two of the world's leading global hedge funds.

Further to the article, I would like to explain the work I do as a Trader Performance Coach (And Executive Coach): I offer specialist performance coaching, mentoring and development services to businesses and participants in the financial markets. I have worked with and helped traders, portfolio managers, fund and investment managers, brokers, sales people, risk managers, teams, desk heads, managers and leaders.

My experience and knowledge of the landscape, environment, culture and demands of the financial markets, together with abilities and skills learned and developed as a coach, combine powerfuly to help and assist individuals and teams in the financial markets in making real and lasting change, to develop and enhance potential, and to face up to the extraordinary challenges and demands required by the job.

Currently the demand for coaching services in the financial markets has never been higher as businesses and their staff face-up to an extremely challenging trading environment and ever-changing demands and challenges from a torrent of legislation, regulation, technology, competitive and even political threats.

So what it is I exactly do with my clients: In truth the demands are many and varied, I have included a list of some examples of the outcomes I look to achieve in helping my clients:

• Working with traders on issues of confidence and self-belief; with those who never had it, and with those who have lost it. 
•  Helping traders come to term with their trading fears and redefining these.
• Addressing self-defeating behaviours and habits.
• Developing a repeatable and powerful approach in relation to placing successful trades.
• Coping with the 'ego battles' within the trading room.
• Coming to terms with and adapting to changes and challenges in the markets.
• Dealing with perfectionism and the need to be right.
• Helping traders to progress through self-imposed ceilings in performance.
• Facilitating better self-awareness and understanding to help traders hold on to positions rather than grab profits or limit profit by not taking large enough risks.
• Working with traders to improve discipline and patience.
• Helping traders to raise their risk profile and more optimally manage their portfolio.
• Helping traders to develop a style and approach more commensurate with their personalty and strengths.
• Managing change from market-maker/flow-trader to a proprietary approach.
• Helping traders cope with the change in competency required when shifting markets, products or even styles and approaches.
• Working with traders to develop better money/risk management practices.
• Encouraging traders to become more active in working to improve their approach.
• Helping teams work better together and with other teams and groups.
• Working with traders to understand why they are under-performing and helping them to regain prior levels of performance.
• Working with managers who have faced difficulty making the leap from trading specialist to a role which requires them to both trade and manage.
• Helping managers make the adjustment to becoming a strategist.
• Improving end enhancing how one engages with clients, colleagues, managers and reports.
• Developing a better understanding of the needs of clients and customers to improve sales and broking services.

In order to help businesses and companies assess the value of my 'Trader Performance Coaching', where practical I offer a complimentary trial coaching service prior to committing to an investment. 

Further information, check out my website at www.bgtedge.com, or contact me direct on (+44)207 993 5362/ (+44)7753 446097 or email - sgoldstein@bgtedge.com.