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The most difficult trainees for a trading coach to mentor are those with lower self-awareness, meaning they struggle to recognize the source of their emotions. While this skill can be developed through training, some individuals may have inherent advantages. Trading coaches use a training system similar to athletic coaches, but they face additional challenges. Unlike athletic coaches, trading coaches cannot observe every movement of their trainees, as trading actions are performed with a mouse click and do not involve significant physical movements. Traders also have access to countless information sources through the internet, making it difficult for coaches to monitor what they see or evaluate how it may affect their trading status. As a result, a trading coach's understanding of traders is often based on their self-reporting, which can be complicated by communication issues. Some traders are skilled communicators while others struggle, and some may provide irrelevant information while others may overlook important details.
When it comes to communication issues, there are two distinct situations to consider. The first situation involves traders using deceptive methods to hide their mistakes, whereas the second situation involves traders being unable to accurately express their true intentions, resulting in the communication of what they believe to be vital information but is in fact irrelevant. We categorize the first situation as an internal fraud risk, which will be discussed in detail in "The Art of Trading Room Design and Risk Management." However, the focus of this chapter is on the second situation.
In everyday communication, it is widely accepted that certain subjective feelings can be extremely challenging to articulate in language, and it is even more difficult to identify the triggers that give rise to those feelings. Blind testing is a process that can help to uncover these triggers.
Let us consider the following example carefully. Suppose I were to confine you to a small, dark room with no means of communication or contact with the outside world, and you were only provided with food and a place to sleep. If you were to live in this small dark room for three years and were then released, and I were to ask you the first question, "What is your opinion on the trend of the US dollar?" What would be your immediate response to my question?
In truth, the perspective you hold stems from the information you've received, regardless of your actions. During the trader training process, a coach can deduce the factors influencing your decision-making by monitoring your behavior. This is the basis of the so-called blind test.
Although it's improbable that we would confine traders in a dark room for three years, we can adapt the test by having the coach act as their eyes. The procedure is as follows: firstly, the trader/>/>/>/>/>