Sports, Forex Trading & Mentorship

Those familiar with my blog will know I’m a big sports fan (you can read a recent post on sports and trading here). Now I cannot say I’m a hard core fan of one sports team, as I have a few and enjoy some. But more importantly, I’m a fan of sports, particularly professionals. These are the top in their profession, and every time I see them, I learn something.

They have trained for thousands of hours. They work on every aspect of their game. The best work tirelessly to take things to the next level, and yet consistently practice the basics.

tiger woods golf coahcing mentorship 2ndskiesforex
I appreciate the wisdom they show to us, their athleticism, and their mindset of success.

Now along those lines, what do Tiger Woods, Peyton Manning, and Georges St. Pierre have in common besides what I listed above?

They all work with coaches and mentors. Tiger has one coach he works with, Peyton has several, and Georges can have up to 20! Yep, the best in their field who are paid millions yearly to do what they do, work with coaches.

No champion or elite athlete reaches their top performance levels without coaching and mentoring.

NOTE: For a couple of good books on elite performers, training and mentorship, check out these books by Coyle and Colvin.

Now the next natural question to be asked is, ‘why do you think trading is any different?

It’s not, and there is a reason for this. Woods has spent his entire life perfecting his golf skills, yet works with a coach daily. Peyton is setting records this year at age 37, yet trains with several coaches. Georges is a record setting UFC champion with 4 different black belts. He too has coaches.

st pierre zahabi mentorship 2ndskiesforex
Hopefully this is clarifying why you should be working with a mentor as well.

I recently heard the most ridiculous argument that everything you need to learn about forex trading you could on the net. How ridiculous! If that were the case, why would banks spend hundreds of thousands each year training their traders? Why would Top hedge fund traders working with $250m (million) books+ have coaches and mentors they work with? It should be painfully obvious why.

I myself work with several people. There are two I work with specifically on my trading mindset and am about to add a third. I have a programmer with a graduate degree in financial modeling I consult with for risk models and money management strategies. I pay these people a lot of money, but there is a specific reason I work with them. Simply put – they enhance my performance, help me see things I am missing, and provide support along the way.

How to Find A Trading Mentor
If I had to break it down simply how to find a trading mentor, I would suggest looking at a few things;

1) Does their teaching style make sense to you and what they are saying clarify things?
2) Can they simplify things without making them to basic or freshman?
3) Do they respond quickly to all your questions and seem supportive?
4) Do they offer insights beyond trade setups, such as building a successful mindset, and obtaining the proper skill set?

If they offer the four above, and you have a good feeling about them, then that is someone to work with. Now whether you choose me or not, is less important to me personally. What is more important is finding the right person for you.

Regardless of who that inidividual is, find someone to coach, mentor and train you as it will definitely accelerate your learning curve, and increase your chance for success. There is a difference between being interested and being passionate about trading. Look behind all elite performers across all fields, and you will almost always find a mentor.

One more thing I’d like to mention before going that Tiger, Peyton and Georges all have in common.  They all train incessantly and are constantly working on their game.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Lokesh

    hi chris,

    Another good article from you on mindset.. I have read those two books and it indeed encourages and changed the way I think and attitude towards deliberate/deep practice

    -Lokesh

    • Hello Lokesh,

      Yes, those are indeed good books, but am glad you found the article useful.

      Kind Regards,
      Chris Capre

  • ApexPredator

    Hi Chris,

    I have to say, the way you relate trading with sports has been very beneficial for me since sport is something I can relate to, so to see someone making those comparisons for sure makes an impact for my mindset and how I think and prepare for my trading.

    So thank you for introducing these concepts into my life, and great article btw.

    Enjoy life,
    Apex.

    • Hello Apex,

      Glad you liked it. I too relate to sports a lot and it provides a good context for my experience and translation into trading. So hopefully it is helpful to you.

      Kind Regards,
      Chris Capre

  • anshul

    Hello Chris, I really liked the article. But, I have a question, you were comparing trading with sports or in that case let it be any other field. In all the other fields including sport’s we have some individual’s who have achieved something and we can take them as inspiration.
    But when it comes to trading, Whom do we have as inspirations or any successful one’s ?

    I’m not being naive, But this doubt just arised when i was going through the article.

    Thank you.

    • Hello Anshul,

      This is a good question. The people who were traders that I enjoy taking inspiration from the most are listed below;
      1) Jesse Livermore
      2) Richard Wyckoff
      3) Stanley Drunkenmiller (could be called an investor, not a trader, but came up with several amazing trade ideas)
      4) Jim Rogers (more of an investor, but achieved a lot)

      I have a few personal people in here that need not be mentioned as they like to keep a low profile, but as traders, they’ve done some great things and inspire me indeed.

      Hope this helps.

      Kind Regards,
      Chris Capre