Having just finished reading Chris Shea’s first book titled ‘Licensed to profit’ it became very clear that Chris Shea understands exactly what it takes to become a successful trader.
Chris Shea’s main goal in Licensed to Profit is to help you the trader identify exactly what your edge is as a trader. Chris draws on his experience as a peak performance coach, having helped hundreds of individuals achieve both trading success and success in life. Don’t be fooled about that statement. This isn’t a rara book with ‘high fives’ but instead a book that is dedicated to getting clear on what it will take for you to be successful in the trading stocks, contracts for difference, options or any other derivative on the market.
For new traders you will find Chris Shea’s analogies about the stock market very easy to understand, allowing you to grasp the key concepts with ease. More experienced traders have to bear the basic analogies in order to get to the critical concepts that will turn you from a losing or break-even trader to a consistently profitable and in control trader.
The theme of Licensed to Profit is about creating a step by step procedure to uncover your very own edge in the markets, following the same guidelines that you used to gain your drivers license. 99% of people successfully gain their driver’s license, yet only 10% of people truly achieve the freedom that successful trading allows (ie licensed to profit). Chris Shea set’s practical and realistic goals and benchmarks to move you from where you are now to successfully gaining your trading license.
One of the most practical tools Chris teaches is his ‘Traders Gymnasium’, which outlines the most successful traits of professional traders and then details exactly how to implement them in a test/practice environment.
If for example you were taking up tennis for the first time and decided to get a professional coach, then it would be fair to say that your tennis coach would have a series of drills and lessons for you to follow to become a more competent tennis player. In the trading arena very few people enlist the assistance of a professional coach and instead rely on tips from friends or buy some expensive software or black box trading system to find the Holy Grail of investment success.
Licensed to Profit outlines 12 elements that successful traders have in common and provides you with the ‘drills’ or daily lessons you can perform to step up the ladder to trading success. Chris provides sensible, no frills techniques that you can master with limited risk and within a short space of time you would have learned the skills that the professionals use daily. Once you have completed Chris’ drills you will have attained your Trading License to Profit.
The road to glory doesn’t stop there, however, as many professional traders find they encounter various psychological problems along the way. Chris Shea helps both new and experienced traders overcome those problems and get out of the way of themselves to achieve a peak performance state acting under an unconscious competent state of awareness.
If you are currently losing in your trading or in a break-even rut then Licensed to Profit has a number of strategies that will enable you to take the steps to peak performance and knock down the bridge that got you there.