Group Coaching: A Powerful Trading Resource
One of the things I'm most looking forward to in this coming Sunday's four-hour seminar at the New York Trader's Expo is the opportunity to conduct true group coaching with attendees. It's surprising how little coaching of traders occurs in group mode, especially given the common overlap of concerns among traders.
I'm looking forward to the experience because of several powerful advantages of working in groups:
1) In groups, there are opportunities to gain insights from other members as well as from the group organizer. Take AA as an example: much of the impact derives from the interactions of members to support, challenge, and enlighten one another.
2) Groups, run properly, can be fun. They lend themselves to interactive exercises and lively dialogue. We tend to be most focused on what is most engaging. Groups can actively engage us.
3) The loyalty built within groups brings the best out in people. I saw this when I ran group therapy sessions on the inpatient psychiatry unit of a hospital. Members reached out in ways for others that they couldn't always do for themselves.
Perhaps best of all, groups can become phenomenal creativity resources. Imagine a group of dedicated traders, each bringing their best trade of the week--and their best psychological practice--to the group meetings. Everyone can play off everyone else, modifying the ideas, applying them to their own situations, and generating new best practices for the entire group. When group members are passionate about what they do, that passion becomes self sustaining, fueling the development of new ideas and methods.
Think of basketball and football teams. Think of AA. Think of Special Forces units. So often, groups push us in ways that we would never push ourselves. Groups support us in ways we cannot support ourselves. Groups give us feedback we'd never think of on our own.