People often ask me, “If you are such a great trader, why do you spend your time teaching?”
I am not surprised by receiving this question, as I would and did ask the same of my instructors when I attended the Professional Trader Course over 14 years ago. The simplest answer that I can offer you is that it makes me a better trader when I am able to teach. Trading, as many of you may know, can be a very solitary profession. You are alone with your computer and perhaps the soothing, ahem, voices of a financial TV channel playing in the background.
I was speaking to a student who was repeating a Professional Futures Trader class I taught. If you are not aware of Online Trading Academy’s policies and mission statement, we strive for students’ success and back that up by allowing the students to repeat classes for no additional charge. The student related to me his extreme excitement and motivation he felt while he was in the class, but also how that drive would quickly fade away after he left and was on his own. The student stated that he lost his discipline when he wasn’t attending classes and asked if there was something he could do to help himself stay on track.
I quickly realized that I, too, fell into that pattern. I am motivated and disciplined while involved in discussions about trading with fellow traders, but slip into bad habits when left to my own devices for too long. My answer to the student was that he needed to find a way to keep the Online Trading Academy classroom experience while he was preparing and trading from home. Being around traders and students who were learning to trade would benefit him by keeping the excitement alive as well as giving a support group to share ideas and market observations with.
Online Trading Academy offers that opportunity through the Extended Learning Track (XLT) program. There are so many benefits to those who are involved in the XLT program. The obvious one that most think of is the ability to watch professional traders as they observe and trade the markets. Additionally, the students are able to see the techniques they learned in the class applied in a live market environment.
But the best benefit of being enrolled in the XLT is not one that is promoted. That is the ability to be around other traders. As a moderator in the room, I can view the private chats that occur between students. Oh, you didn’t know I was watching? Many of the students are supporting each other as they trade live or as they learn. There are many traders in each XLT room who have gained extensive experience from having been in those rooms for a while. Those traders have been sharing their time and knowledge to assist the newer traders and keep them disciplined.
Another benefit that our multiple XLT holders enjoy is participation in our online community for traders – Power Trader Nation. Here the members share their trade ideas, critique each others’ trades, have freestyle discussions on all things trading, and enjoy the support and camaraderie that goes on there.
This is why I love to teach. The camaraderie and support that even I receive when in direct contact with other traders and students is priceless! If you are in the XLT rooms, please take advantage of the ability to share experiences with other traders. This is one of the best ways to improve. If you aren’t in the rooms, speak to your Education Counselor to learn more about what we can do to help you transform your life.