About Trading Coach Directory

The Trading Coach directory provides a list of coaches that can coach or mentor you in trading the markets. Most coaches offer coaching via phone, email or internet and may travel to see clients. Please note that this directory is provided for informational purposes only. It is not providing advice or specific recommendations to use a particular coach or service. To learn more about trading coaching, click here.

Interview with Gavin Mcmaster

Could you tell us a little about yourself?

I’m originally from Melbourne Australia. Currently I live with my wife Alex and 2 year old daughter Zoe in Grand Cayman which is where we have lived for the past 7 years. I’ve been trading seriously for the past 6 years and my aim is to help beginner option traders learn from my experiences and also follow along with some of my trades to learn about how I trade and learn from my successes and my failures. My primary aim is to help people who are in the same position I was in when I was starting out.

How did you get started trading?

My interest in the stock market can be traced back to Primary School, i can’t remember the teacher or the which grade, but she told a fictional story which has always stuck with me. It was a typical stock market tale of fear and greed, the two most powerful emotions in the financial markets. A stock trader who bought a stock at $1, watched in climb all the way up past $1000, but got greedy and wouldn’t sell assuming he would make more money. Of course some sort of bad news about the company came out and next thing you know the stock was back to $1. Of course this was a fictional story, but from that point on i was hooked.

How long have you been trading now?

I bought my first shares when I was 13 and have been trading ever since, although more heavily in the last 6 years. I have bought just about every book you can think of on options trading. I also went back to school and completed my Masters in Applied Finance and Investment in August 2009. Still, there is only so much you can learn from a book and i have learnt so much more from actually trading options.

What do you like best about trading?

I love the challenge of trying to outperform the market.

What markets do you trade?

I trade stocks and options in the US. Primarily I trade indexes and index ETF’s but also some of the more well know stocks as well as emerging market ETF’s

What style of trading do you use?

I predominately trade credit spreads with a high probability of success. I aim to make small profits each month rather than taking on huge amounts of risk and trying to hit the ball out of the park with every trade. Slow and steady for me!

What have been the biggest influences on your development as a trader?

Learning from other successful traders has also been crucial to my development. Networking with other trader and learning from your peers is a great way to develop. I’m an avid reader and highly recommend books such as Market Wizards and Trade Your Way To Financial Freedom.

What is the one biggest lesson that you have learnt since starting trading?

Learning that psychology plays such a huge part in your success as a trader and realizing the importance of trading plan!

How did you get interested in coaching other traders?

I’ve always enjoyed teaching people no matter what role I have been in, so I feel truly blessed to be able to combine my two greatest passions in life; trading and teaching

Do you focus on coaching of one particular area of trading, e.g. risk management / psychology or finding trades?

I like to cover all areas, but It’s important to start with the basics and build a solid foundation. So I generally start with the trading plan, helping a trader set up a plan if they don’t have one, or refining their existing plan. Risk management and money management are also important areas that I focus on as well as psychology. I try to encourage traders to determine their own trading strategy towards something that suits their risk profile and skills. I also provide each client with numerous spreadsheets and other worksheets that I use in my own trading.

How do you work together with your clients? E.g. phone / email / screen sharing?

I use phone, email and screen sharing.

What sort of results do your clients get after coaching with you?

My clients are more confident traders after working with me, they trust they have a good system in place for their individual development and they know that I will be there to support them even after our coaching session have finished. I’ve made many close friends through coaching.

What is the most satisfying part of coaching traders?

Helping people who I can see are in the same position I was in the past and just helping them overcome some of the hurdles and issues I faced early on in my career.

What is the biggest but most easily fixed mistake that you see traders make?

The biggest and easily fixed mistake I see is either not having a trading plan or not following their trading plan

Do you recommend journals or other record keeping as an important part of trading?

ABSOLUTELY!! I think this is crucial, I encourage all my clients to keep a journal and to review it at least quarterly, if not monthly. This way traders can pick up on any problems in their trading or determine if any particular strategy is not working well and then they can refine their trading plan accordingly.

What are the most common issues that you see in your clients that prevent them from becoming better traders?

Thinking they know better than the market and not being open enough to the fact that their view may be wrong. Or, that there view might be correct, but their timing is wrong. The market is always right! Another problem I see is that traders have too many trades on at one time or are using too many strategies simultaneously. I subscribe to the KISS principle – Keep It Simple Stupid.

What advice would you give traders who are just starting out?

First off, find a mentor. Figure out what type of trader you want to be, go find someone that is doing it successfully and learn from them. Secondly, read 1 book per month and attend as many seminars or webinar as you can. Also stick to my motto – Have a plan, trade a plan, review your plan.

What 3 books do you recommend traders read?

Market Wizards by Jack Schwagger. Trade Your Way To Financial Freedom by Van K. Tharp 24 Essential Lessons for Investment Success by William J. O’Neill

Any other advice or wisdom from your experience in trading that you could share?

Think we pretty much covered everything above