Trading Coaches - Good, Bad or Indifferent?

Quote from Rahula:

I've posted on this subject on another thread. It seems really hard to get a position where your're trading OPM whether its at a hedge fund or a real prop firm. So most traders develop a 'go at it alone' mentality where they convince themselves they can trade on their own, learn on their own, develop their own system, etc. - the whole process can only be described as trying to reinvent the wheel.

Now a real trading coach is someone that is more or less by your side and reviewing every trade to make sure it doesn't conflict with the trading plan and trading goals that you yourself have created. A guy like that could easily cost 50k-100k a year but well worth it for a trader making over 5 million a year. A trading mentor, on the other hand, is a bit less involved but still valuable because with each trading day you develop good or bad habits and the mentor can help in making sure you're at least not adding to bad habits day after day and thus ruining your chances of getting to the 'unbeleivable' level of success Jack Hershey talks about.

So why do the best golfers and the best tennis players have coaches? Its because the players have spent over 100k hours perfecting their form. But they are human - slight imperfections they're not aware of can enter their form. And without a coach they can just go on adding to the imperfections and making a bad habit out of it. Whereas the coach recognizes the imperfection immediately and tells the player about it and thus raises the player's level of awareness of the mistakes so that he can cut it out. The player can then cut his losses and get back to using a more perfect form.

In no sport is the #1 player vastly 'better' than the #2 or #3 player. The top players just have that added bit of consistency that put them over the top.
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Trading isn't sports. There have been traders that were so succesful in the past that they spent fortunes keeping their names completely unknown to the public!! I know of one, a web search does not pull up his name!! Forget sports analogies.
 
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