Welcome to The Knife's Edge
Coaching for the Professional Trader
“As a trader you often walk on the blade, be careful and don’t step off” - Marc Rich
For every 100 traders that join a firm, only 3% are earning a living trading in 5 years time. Why? It is NOT lack of capital, It is NOT the software, it is NOT the strategies provided.
It is failure to master the mental and emotional aspects of trading. This is what I teach
Our Coaching Focus Areas:
Discipline
Discipline takes many forms, including: a consistent premarket routine, visualization practice, and sticking to your stops. Discipline also applies to your health routines of diet, excercize, and sleep.
Risk/Reward Estimation
Each trade requires it's own assessment of risk, reward, and the probabilities of each.
Patience
Patience with the process, patience to ride winners, patience for the "Best Version" of our setup. Buffet says in investing (also works for trading), that there are no called strikes. This is mostly true.
Managing Emotions
Ed Seykota mentions the 6 emotions of trading: The Joy and Pain of Winning, Losing, and Not Participating. Each of these emotions must be anticipated, acknowledge, and managed in a way unique to each individual.
Preparation
"Chance favors the mind that is prepared" - Louis Pasteur. As traders, we must be ready for the day, the market cycle, and any of the infinite possibilities the market serves up. Trading is a reactive business. We cannot "impose our will" on the court like Kobe Bryant. We can only react to what opportunities the market provides. Through proper visualization, we can teach ourselves to react without thinking, following our trading plan.
Cyclical v. Linear Thinking
We tend to extrapolate trends in a linear fashion. However, the market is cyclical in nature. Strategies come and go, then come back again. We must always be aware of what part of the market and edge cycle we are in.
Position Sizing
Position Sizing = Risk Control. Risk control is practiced through proper position sizing. Without the correct position size, you will never follow your trading plan. Position size is determined by your own risk profile, the risk/reward of your trade, your trading bankroll, and your ability to estimate all of the above.
Strategy Development
You have a unique personality, and therefore you have a unique risk profile. There is a structured process for you to find, develop, and modify strategies that will work for you.
Managing a Variable Income
If you want consistent profitability, then Trading is not for you. You will have up and down days, weeks, and months. We teach specific ways to handle the emotions that arise from this volatility in income.
Being average at even one of these skills is enough to fall into the abyss.
Contact me to avoid the fate of nearly every aspiring trader.
Testimonials
What our clients say:
Chris