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Archive for the ‘Peak Performance’ Category

Becoming Great in a Traders Market

Thursday, February 4th, 2010

As you’ve probably heard by now, we are in what is commonly referred to as a “Traders Market.” This type of market is tricky, even for the elite traders out there which is why I want to to give you four tips to help you improve your trading psychology.

1)  Take a Tactical Approach

Once you have established your trading thesis, you are going to want to play close attention to where you get in and get out of the trade. Like a sniper, you have to have laser sharp focus because one mistake will cost you big time.

2) Get in Bigger, Quicker

A “Traders Market” will not allow you the luxury of scaling into your positions. That means becoming great in these markets requires excellent timing. To do this, you have to be patient, wait for your ideal setup and then when it appears, hit it BIG, without hesitation, because that may be the best entry level you get for the trade.

3) Use Tighter Stops

Yes, stops are always important for risk management in any trading environment; but in a Traders Market, tight stops will keep you in the game longer and the traders out there that are making the most out of this market volatility are the ones who are able to survive the quick moves.

4) Let your Intuition show you where the Profits are

Intuition plays a key role in trading success, but really separates the mediocre from the elite in a Traders Market. By focusing on your trading psychology, you can learn how to listen to your intuition, trust it and then execute the trade when that gut feeling pops up.

As the premier trading coach to the Elite on Wall Street, one of the biggest mistakes I see traders make is that they have a great trading idea; a solid trading plan but they lack the confidence to put it into action.

Do Not Be That Guy!

Trade well,

Dr. Doug

For Conan (and other elite), Becoming Great Is Not About The Money.

Sunday, January 24th, 2010

Just because your severance check is over 30 million, doesn’t mean getting fired is any less painful.

Everyone is talking about Conan and grappling to understand what the big deal is. He has millions, got paid tens of millions to leave AND within months he can basically sign a new contract with a competitor. How bad can life possibly be for him? That’s a problem I would love to have, wouldn’t you?

I’m Dr. Doug Hirschhorn, the premier coach to the Wall Street elite. My clients make tens of millions each year, every year. Unbelievable, I know. No, they don’t break laws. No, they are not shady characters. And as I clearly explain in my new book, 8 Ways to Great (Penguin/G.P. Puntam’s Sons), they are not the ones responsible for the economy falling apart. They are just regular guys who are highly skilled entrepreneurs, faced with great opportunities, just like Conan on TV or like Steve Jobs in the technology world. The mentality of these titans, as I have discovered in my decade of leadership coaching, is remarkably similar, and it does not seem to matter whether they are an athlete, business mogul or media star. Their path to finding that place called great, is identical and can be condensed to six words in a single sentence. And here it is, “IT IS NOT ABOUT THE MONEY.”

For Conan, Leno, Steve Jobs, Hedge Fund Titans or even Oprah Winfrey, what motivates them to tap into and unlock their inner greatness are things like ego, passion, inspiration, fear of being mediocre, desire to improve the lives of others, or even low self-esteem that got engrained in them somewhere in their childhood and it has served to push them to prove those doubters from way back when that they were wrong. The bottom line is it is lots of things, just not money.

What does this have to do with you and your career building? Well, instead of being just another person who writes this Conan thing off as a ridiculous example of rich people crying over how big their pile of gold coins is or isn’t; think for a second about how much work and sacrifice Conan had to endure in order to reach his dream of being the top dog in the late night media. Have you ever made tremendous personal and professional sacrifices to have a shot to reach your goals? If you haven’t, then that is a shame; but if you have and my bet is most of you have, then you know exactly how Conan must feel right now.

He worked his entire life to get his shot – and he got it. And then it was taken away from him seven months later. The reason why is less important than the reality that it was. What I mean is, it doesn’t matter if he was fired because his ratings were down or because of politics; all that matters is Conan, just like many of us, had a dream and for decades worked towards achieving it. Then he goes into work one day and is told it’s over, here’s a check, don’t let the door hit you in the ass on the way out.

Is Conan pissed? Of course, he has to be, he is human. Is his ego bruised or maybe shattered? Probably. Does he feel like he was wronged, cheated by people he trusted? Yep. Has he stayed awake at night these past couple of weeks asking pointless questions like, “Why is this happening to me?” I sure bet he has - just like you or I would.

One thing I have learned from my elite clients on Wall Street is that these inflection points create huge potential opportunities for them to create a greater life if they are willing to remove the emotion and take smart risk. And for Conan, it is no different.

Conan has a CHOICE. He can choose to stay bitter, focus on the past, the empty promises, the mud slinging, the anger, emotion and remain stuck in time or he can choose to compartmentalize all of the anger, animosity, fear and doubting and create a new, career building plan for the Conan brand. He is still the same guy. He has the same unique quirky edge and comedic skills. The situation has just changed. Now it is up to him to choose to reinvent himself or not.

For this reason, I believe Conan is no different than any of us out there who thrive on finding our greatness. Stuff that is out of our control happens to all of us at some point in lives. Sometimes it has to do with our employment and other times it may have to do with our relationships. Yes, I know, plans are destroyed, effort is wasted and resources are exhausted but in the end, all that is going to matter for Conan, me, you or any other human being on this planet dealing with this type of situation is what choice we make after unexpected, uncontrollable events occur in our lives.

Conan, feel free to email me if you need a wake up call because I, for one, am looking forward to seeing what choice you make in the face of adversity.

Dr Doug

Becoming Great

Thursday, January 21st, 2010

Everyone likes the idea of becoming great. My elite Wall Street clients who are already great traders, want to increase their greatness factor. As Dr. Doug, I have built up a substantial consulting practice, media presence and just released my second book 8 Ways to Great (Penguin/G.P. Putnam’s Sons, 2010) – and I now want to take my brand of finding greatness, to the next level. I am talking about the global level on par with Tony RobbinsWayne DyerJoel Osteen and even Oprah.

What about you? What do you want? Maybe you want to increase your greatness factor as a parent? A spouse? A friend? Or you want to live a greater life by improving your fitness or diet? Or maybe you just want to increase your self awareness and eliminate mistakes so you can stick to your goals?

I have been thinking, struggling, at times, sleepless and tormenting with HOW to crack and leverage the online social network so that Dr Doug – the coach to the Elite – can become a household name synonymous with finding your inner greatness.

My greatest critic and supporter (my wife of 10 years) sees the look in my eyes and reads my body language when we talk about what it is going to take to try to make that career building goal happen. The contacts I have to pursue, the relationships I need to explore, the tremendous effort – all while continuing to grow and maintain my current trading psychology coaching business. Oh, and did I mention, I have three incredible young children whose smiles make me realize what greatness really is?

Yes, I feel lost and scared and insecure – just like you. Yes, sometimes, I say to myself, maybe I should just slow things down and enjoy the NOW rather than pursue this global Dr Doug brand.

The list grows and grows each time we talk about it. And my body language says it all – it says, “Yeah, I want to build that brand and reach that goal of being the coach who helps people find their inner greatness…but am I really willing to do what it takes to make that happen. Because if I was, then the body language would be energized rather than flattened.”

I never doubted (at least not for the past few years) as to whether I could make it happen; but I do find myself wondering if I am really willing to make the personal sacrifices that are necessary to give myself the chance to find my inner greatness. I know first hand the kind of sacrifices that will be required along the way. I see it first hand with my elite wall street clients who I coach to becoming even greater traders. And many of those sacrifices they make along the way they never get a second chance at because time moves on, kids grow up, and seasons change.

Is it worth it Doug? Will it be worth it when you look back 30 years from now? Are you sure this is what you want from your life? And if so, are you willing to do what it is going to take to make it happen?

If you find yourself in a similar place, determining the different between Wanting to do something and if you are really WILLING to do what it will take to make it happen, then here are three things I discuss in 8 Ways to Great that I think you should consider when weighting this decision.

1)   Fear is OK.

Openly talk about your fears either to yourself or to a trusted resource. The more your express and identify your fears, the less of a barrier they become in your life. Remember, fear is normal and ok to feel. All that matter is that you do not make decisions based on that fear. For example, just because you are afraid of all the work that it will take to reach your goal is not the right reason to not go for it. So, identify the fears, greet them with open arms and then put them in a box so they don’t get in your way.

2)   Take a Process Approach

List all the things, that you need to do in order to reach that big goal. Then just pick 3, start there and do not move on until you have completed them; then pick 3 more and so on. By focusing on the process, you break down larger, more intimidating goals into smaller more digestible pieces. At the end of just one week, you will have worked your way through a good number of the items on the list. This will then give you hope and energy to keep moving forward.

3)   Focus more on WHY

Spend some time figuring out why you really want to achieve that goal. Most people only think about how they are going to get there or lose the weigth or find the time. Instead, ask yourself WHY you want to do it and if the WHY is powerful enough to you, then you will find that the HOW takes care of itself and you will be moving from Wanting to achieve a goal to being Willing to do what you need to do to make it happen.

Go ahead and find your way to Great!

Dr Doug

Nailing a Job Interview

Friday, January 8th, 2010

(Watch the video online) Dr. Doug was recently interviewed on CW11 (Local NY, CBS affiliate) about what you can do to bring your best to a job interview. With this advice in hand, you’re better prepared to nail the job interview. Dr. Doug covers:

  • Putting together a game plan.
  • What are the rules of interviewing?
  • Be prepared to answer what kind of job you are looking for and what role you want to play in that company.
  • You should also know about the perks and benefits package you might be receiving if employed by the company.
  • Before the interview, you should know about the company (their goals and what they want to achieve).
  • Don’t be afraid to say “I don’t know” when asked questions. Employers know that you don’t know everything. Saying “i don’t know” shows you have a high level of self-awareness.
  • Keep your answers short and sweet. Direct your answer to those questions, and don’t go on for 10 or 15 minutes. That is an interview killer.
  • It’s alright to negotiate. If you’re being low-balled, be polite and professional but let them know it you feel that price is below current fair market value and to please reconsider.

We hope that you’ll watch the video and find some key take-a-ways that could help you land your next Great job.

Bobbi Misick interviews Dr. Doug
Tiger Cheats for Adrenaline Rush

Sunday, December 13th, 2009

Excerpt from Essence.com

As the number of women who have allegedly had an affair with Tiger Woods grows, one starts to wonder if golf’s golden boy is more than just your run-of-the-mill celebrity cheater. While experts have begun to mumble sex addiction as the cause for Tiger’s supposed unquenchable thirst for cocktail waitresses and porn stars, Dr. Doug Hirschhorn, Ph.D, a peak performance coach with a specialization in sports psychology, says it’s not the actual sex that Woods is after, it’s the adrenaline rush he gets from getting away with it.

ESSENCE.com: Please explain your adrenaline theory.
DR. DOUG HIRSCHHORN: People in high profile situations like Tiger Woods are always pushing themselves to the next level to get a satisfaction pay-off. For the regular person who has a couple of good golf shots on the course, he feels pretty good. For Tiger, he expects to play great every time and so when he has that unique, remarkable, impossible shot that only he can make, he gets that adrenaline rush, that pumping awesome “I worked hard and I made it kind” of feeling.

If you think about these athletes, there are very few highlights in their careers that stand out, because they perform at such high levels on a regular basis.

The cheating almost fills a void inside of them. It provides the same kind of adrenaline excitement rush that they get when they have those incredibly awesome shots on the course.

ESSENCE.com: So, it’s not about the sex or what he’s not getting at home?
HIRSCHHORN: It really isn’t about him being unhappy at home and miserable that he’s married. It’s not about sex. It’s almost like he’s saying, “How cool would that be if I could get away with this and sleep with someone and have no one know about it and take it to the line.”

ESSENCE.com: What’s taking it to the line? Where does the rush come from?
HIRSCHHORN: The challenge is in getting away with it. The challenge is, can he get her into bed and then have it be his secret and trust the fact that she’s not going to tell anybody about it, because she could ruin him.

ESSENCE.com: Is it self-sabotage?
HIRSCHHORN: It’s not that he’s trying to destroy himself, but it’s that adrenaline rush of knowing that disaster could land on every corner. …You get that “I’m scared, I’m nervous, but I’m excited and I feel alive.”

ESSENCE.com: You say it’s not surprising that 13 women have been named. Why not?
HIRSCHHORN: It’s because you need to always up the ante. It’s like the first time you get drunk, it might just take a drink or two and then it takes three drinks, then four drinks. It’s that same kind of thing with the adrenaline rush. He probably didn’t start out with a cocktail waitress. With the first one, he was probably very careful, then he got a little sloppier and it’s almost like he was saying, “I want to see how close I can get to being caught without being caught.”

ESSENCE.com: What part does the media have to play in this scandal?
HIRSCHHORN: Advertisers like Tiger Woods because he’s a very wholesome and good-looking guy. Tiger Woods has that image and the media created that. Tiger’s marriage was kind of a “rags to riches” story: Tiger marries one of the other golfers’ nannies. She’s Cinderella. And it played into mainstream’s emotions. Tiger’s just a guy, a human being like everyone else. And the sad thing is that he’s probably trying to figure out who he is.

ESSENCE.com: What part does his upbringing have to play?
HIRSCHHORN: He’s been trained to thrive on excitement, energy and achievement since four years old. He was raised to be an elite, premier athlete. The problem that you have when you do that is, you kind of sidestep the person inside there. You exploit the physical skills and the talents, but you really sidestep the intellectual thought process.

ESSENCE.com: What would you say to Tiger Woods as a peak performance coach?
HIRSCHHORN: I wouldn’t criticize him. I would ask him, “Did you think it through carefully Tiger? Did you look at it objectively? Did you analyze the risk rewards associated with this?” On the golf course, he looks and he says, “OK, what are the odds of me making this shot successful?”  With this, he put aside all of his risk management tools and said, “Where’s the next adrenaline rush that I can get?”

ESSENCE.com: What about claims that Tiger Woods might be a sex addict?
HIRSCHHORN: I don’t buy it. Yes, he’s a human being and he’s young and he has testosterone, but I think it’s more about an emotional, psychological pay-off and not the act of sex. It’s about, “Can it push it to the limit without getting caught? Because it’s a game.” That’s why I think there are probably dozens of women that he cheated with.