Log in to your trading platform, scan the news, review the pre-market briefings of those you follow, check and update your Trade Books, pull up your screens, ready, set, go! The opening bell has been rung! This is more or less the typical start to a day trader’s morning.
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Regardless of whether the trader trades on their own or joins a community, one other certainty is guaranteed, day trading will very likely take a toll on their mental health. From suffering a devastating loss to committing the sin of over-trading in order to make the day less boring, countless scenarios may unfold that will put the trader’s mental strength to the test. Unfortunately, not many traders or firms give any special attention whatsoever to this important aspect of the profession. There is one company however that is walking a different path, a path that it believes every trader and trading firm should follow.
Peak Capital Trading, known as PCT, a Vancouver-based proprietary trading firm that both trades the markets and educates and trains traders, considers the psychology of trading to be as important as a trader’s strategy and technology. They refer to these three components as the “three pillars of trading success”.
The Typical Day of a PCT Trader / What Is Different:
Although it is a trading firm, at PCT the day does not begin and end with the market. In addition to round-the-clock support available from a team of experts, members have access to a large volume of educational materials as well as the services of both a trading psychologist and a high performance psychologist. The typical morning of a day trader described above is certainly also part of the routine of a PCT trader, but there’s more. Instead of roaming the internet on their own, weeding through all of the noise to try and find the key information they need, a PCT trader has the opportunity to adjust, improve, or affirm their TradeBooks and Stock in Play choices for the day by participating in pre-market briefings provided by PCT’s expert mentors. In addition, their private chat channel allows PCT traders to discuss their strategies with others, keep updated with breaking news and, very importantly, receive and provide support to their trading colleagues.
Once that opening bell has rung, PCT traders can observe their mentors trading in real time. The new traders can chat with the veteran traders, discuss what’s happening on their charts, talk through what they don’t understand, and learn firsthand what it takes to be a successful trader. PCT has found that this transparent process provides novice traders with the confidence and assurance they need to develop solid trading practices that will serve them well in the future. It helps their traders stay focused, manage their risks, avoid over-trading, and minimize their losses. In short, it gives them a trading edge.
When 4:00pm Eastern Time rolls around, the trading activity ends but the support PCT provides its members continues on. Mentors provide feedback, webinars are held, classes are taught, and a complete archive of previously held training and educational programs is available to anyone wanting to revisit a subject matter.
Peak Capital Trading definitely delivers a holistic approach to trading. The evidence includes their extensive educational resources, the wide open transparency of their mentors, the incredible support and encouragement they offer beginner traders, and their emphasis on the psychology of trading.
There are undeniable benefits to a holistic approach, no matter the focus of the business. By looking at one’s company as a whole unit, or even being, with every person interconnected with each other, rather than considering one’s business or firm as a collection of individuals, a less stressful, more enthusiastic, and friendlier work environment is created. There is more synergy in the workplace and every member of the team will be much more apt to be working toward the same goals. Peak Capital Trading has proven that being deliberate about taking a holistic approach will no doubt amplify the overall performance and success of virtually any business, company, firm, or endeavor.