STA Blog

During the December meeting, Steve Goldstein gave an introductory talk about a new joint venture with the STA – the High-Performance Trader Learning Programme: Elevating Trading Excellence

Steve is a former trader turned performance coach. The course is a new initiative and will be delivered by himself and his colleague Mark Randall, co-founder of the AlphaMind project. Steve started his talk by outlining that the programme represents a culmination of both his and Marks journey—from decades as a traders to coaching traders across the globe. He explained that it’s about bridging the gap between trading as a technical skill and trading as a performance discipline. He then dived into the why, how, and what of this initiative.

To see his presentation click here

A Journey of Transformation

His career as a trader spanned 25 years, from the mid-1980s to 2010, where he worked with major banks like Credit Suisse and Commerzbank. During this time, he experienced two distinct phases:

• • The Analyst-First Approach: In the early years, he focused heavily on market analysis but struggled with risk-taking—a core aspect of trading.
  • The Risk-Taker’s Mindset: Thanks to coaching sessions with Peter Burdett midway through his career, he underwent a profound transformation. He shifted from avoiding risk to engaging with it effectively. This change dramatically improved his performance and helped him view trading as an integrated activity where analysis, risk management, and decision-making work cohesively.

  By the end of his trading career, he had transitioned to coaching. Drawing from his and Marks experiences, they aim to help others navigate the complexities of trading by focusing on self-awareness, risk engagement, and performance optimisation.

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  The Inspiration Behind the Programme

  Trading is often viewed through the lens of analysis and strategy. While technical and fundamental analyses are critical, they’re just tools. The real art of trading lies in:

  • • Developing the right mindset.
    • Understanding and managing risk.
    • Engaging with uncertainty.

    When Steve started trading in the late 1980s, resources on these topics were sparse. Books like Reminiscences of a Stock Operator and Market Wizards offered inspiration but didn’t teach the mechanics of being a trader. That gap inspired this programme.

  • The goal of the High-Performance Trader Learning Programme is to address the “missing link” in trader education—not just how to analyse markets, but how to adopt the identity, mindset, and process of a successful trader.
    

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    Why This Programme Matters

    Success in trading is rare. Research suggests only a small percentage of traders achieve long-term success. For example, a study of 400,000 day traders on the Taiwanese stock exchange found that only 1% generated sustainable income over time. In institutional settings, the odds improve, but the attrition rate remains high.

    This programme aims to improve participants’ chances of moving into the upper echelons of trading success. By fostering a deeper understanding of risk, human behaviour, and trading as a performance activity, Mark and Steve aim to help traders catalyse their advancement.

    

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    How the Programme Works

    The High-Performance Trader Learning Programme is designed as a non-linear, experiential learning experience. Here’s what sets it apart:

    1. Integrated Approach:
       –  Combines market analysis, risk, and human behaviour.
       – Avoids treating trading psychology as a standalone topic. Instead, it’s integrated into the broader trading process.
    2. Non-Linear Learning:
       –  Emphasises dynamic engagement rather than rigid instruction.
       –  Encourages participants to explore models, frameworks, and real-world examples.
       –  Adapts to the diverse needs of traders from different styles and asset classes.
    3. Peer-Assisted Learning:
       –  Participants learn from each other through shared discussions and group activities.
       –  Real-world experiences are brought into the conversation, enriching the learning process.
    4. Iterative Process:
       – Topics are revisited and expanded upon over time, allowing for deeper understanding.
       – Participants bring their weekly experiences to each session, fostering continuous growth.
    5. Experienced Facilitation:
       – Delivered by Mark Randall and Steve Goldstein, they leverage their decades of trading and coaching expertise.

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    Programme Details

  • • Format: 10 live, two-hour Zoom sessions.
  • • Duration: March to June.
  • • Group Size: Limited to 25 participants for an optimal learning experience.
  • • Audience: Suitable for intermediate and advanced traders, analysts, and risk managers. Not recommended for beginners who are still mastering basic trading concepts.
    

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    Intended Outcomes

  • By the end of the programme, participants will:
  • • Develop a cohesive understanding of risk as a process.
  • • Enhance their ability to engage with uncertainty and pressure.
  • • Build a trading process that aligns with their personal identity and goals.
  • • Gain insights into diverse trading approaches and styles.
  • • Improve their productivity and effectiveness in trading activities.
    

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Looking Ahead

Trading is a performance activity akin to sports, music, or gaming. Success requires discipline, self-awareness, and continuous improvement. The High-Performance Trader Learning Programme is a step forward in trader education, designed to help participants move up the ladder of trading success.

For those ready to elevate their trading game and unlock their potential, this programme is an opportunity to gain the edge needed to succeed in a highly competitive field.

The STA and AlphaMind are excited to embark on this journey with you. Here’s to advancing the art and science of trading together!

For more details and to book click here