trading 3 min, as my student did, has that advantage that you generally see all market conditions in a very short time.
Padutrader,
Your problems may have involved the misunderstanding of what coaching versus mentoring is between you and those you've worked with recently or in the past when you mention the distraction issues.
- Coaching and Mentoring are two of the most commonly misused words in the trading industry because many traders / educators do not know what they are nor their differences. Simply, they often get the two mixed up or involved in something that's neither the two.
Coaching involves
teaching someone how to trade beyond a trader learning a trade strategy. In contrast, the mentor tutors and guides the trader through his / her career as a trader beyond the individual trades.
Thus, coaching is more
performance driven as in on-the-job performance during each trade whereas mentoring is more
development driven as a trader in the career of trading.
Mentoring is a long-term process based on mutual trust and respect...relationship related. Coaching, on the other hand, is for a short period of time and task related...conflicts may occur.
Mentoring is more focused on creating an informal association between the mentor and student, whereas coaching follows a more structured and formal approach. A good way to understand is that the mentor sits at the top of the
hierarchy whereas the coaches are below the mentor. In fact, the only real mentor I've ever met...it was a mentor that hired coaches to work together to coach a student.
Therefore,
teaching someone how to trade is someone that's being coached whereas a person guiding someone through the career as trader is a person that's mentoring.
Sharing your trade strategy here at Elitetrader.com or on Skype is
not mentoring and most likely was
not coaching.
wrbtrader
