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Right, when there's not enough money it seems that's the only problem. When money comes, it turns out there are many other issues too. :)

I experienced many financial conditions from standing in food lines back in late 80's when was a kid to being stressed last winter because of crashing currency (and me being involved in serious import operations and consequently exposed to USD/RUB position). Pretty much the same. Distress is...

Rich and stressed, because you better learn to manage stress anyway and money is good. :D

Agree. Strictly speaking therapy is solving a problem (away from pain) while coaching is "toward the goal". In this sense my example is a bit wrong probably because my own career in psychology (when I still had time for it :D ) was more therapy oriented. Good example of legit coaching approach...

We are talking about coaches in the sense of career coaching here I believe. It's somewhat different from variety of trading gurus/mentors around and results are much more realistic, certainly no miracles.

The question is: if YOU really need a coach assuming we now agree on limits of what coaches can or can't do. :)

Hypothetical examples of BS coaching vs. productive coaching: 1) Client: "Dear Mr. Coach, I want to live high but don't know how to trade profitably". Coach: "Oh yes, you are lucky to find me! Now with the cutting edge mind-hacking technique I'll turn you into a super trader. All for just...

Not just the American, exactly the same mentality in Russia.

Speaking of money charged by coaches and counselors, if Dr. Van Tharp works with Wall Street professionals he MUST charge a lot for personal sessions with them. Otherwise if they don't pay really much, unlikely they would treat advice received as something valuable. Maybe they do on a conscious...

Yes I believe so. Not just in trading but in any business. The closest related example can be marketing (particularly direct sales/MLM). How many people dream of making big money there? How many actually do? Both categories tend to attend coaching sessions, seminars etc. Apparently there should...

Therapy is helping someone to eliminate the problem ("go away from" approach) while coaching is help to achieve a goal ("towards to" approach).

Need a microscope to see that edge. :D

What you describe is for sure a psychological problem (speaking superficially, most likely some form of self-sabotage), but my and DB's point is these cases are a minuscule % compared to a number of people who believe they have psychological problems with discipline and like that when in reality...

Frankly after 10 years of trading and communicating with traders about many deep issues I would say 99% of "psychological" problems in trading are just absence of any significant edge. Maybe, maybe there is 1% of professionals who's systems are good, but who simply burn-out or have similar...

The fear of truth means you already know the right answer to the question causing fear. That fear is your friend trying to help, not your enemy.

Being a licensed specialist in psychology (a bit above the typical "coach" actually;) ) I can say that certain coaching techniques are definitely effective, but they won't turn a losing strategy into profitable one.

Beautiful samples of random gratification effects on one's mind. :D

Logical outcome of negative sum game (for most).

Right, there is no failure, only outcome of experiment, which gives you valuable information about what works and what doesn't.

How many years of track record?