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Posts Tagged ‘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

Fighting Trader Trepidation

Sunday, January 10th, 2010

(Watch the Video Online: Market coach Doug Hirschhorn, PhD, discusses how traders are likely to deal with Trader Trepidation in 2010.)

The theme for this week, and probably for the next few months, is “trader trepidation.” Here are three reasons why traders might seem a little hesitant early in 2010:

Memory of not getting paid is fresh in traders’ minds

When traders have a bad year (like 2008), it usually takes two to three years before they get paid again. For example, in 2008, traders lost money. In 2009, they made back the losses from 2008, and in 2010, if they make money, they’ll get paid in the first quarter of 2011. That’s a long time to be in the penalty box.

Equities are likely to be especially tough in 2010

We haven’t seen the end of the Galleon situation and have no idea how the SEC is going to tighten regulation. This creates a large amount of uncertainty and, for traders, when too much uncertainty exists, they sit on the sideline and wait.

Distractions will fill traders minds

During the next few months, expect to hear a lot of discussions about Wall Street payouts. Some firms had record years in 2009 and plan on paying traders big. This will really bother politicians and jobless Americans and the end result will be a revamping of how traders get paid on the Street. The good news is, Wall Street will likely turn into more of a pay-for-performance situation. The bad news is, it’s going to take a while to figure out, and that means major distractions to professional traders. The more time they spend thinking about how they’ll get paid, the less they’re able to think about making trades.

So where will the opportunities be in 2010? From what I’m hearing, it looks like gold, oil, currencies and other deep, liquid, unregulated global commodities are where the action will be. That’s still one place traders can get great price action with the least amount of headaches.

Think better, invest smarter.

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.

Dr. Doug on CNBC’s Power Lunch - January 4th, 2010

Tuesday, January 5th, 2010

Watch It Online.

On January 4th, Dr. Doug appeared on Power Lunch on CNBC at 1:15pm EST.

Topic: The topic was Trader Psychology for 2010.

In case you missed it, we have it here for you

A Fresh Start In 2010

Thursday, December 31st, 2009

(Watch The Video Online: Market coach Doug Hirschhorn, PhD, discusses how traders can forget 2009 and get a fresh start in 2010.)

This week, I want you to ask yourself just one thing: “Did I reach my full potential as a trader in 2009?”

For most, the answer is probably no. If that’s the case, don’t worry, because now is the perfect time for a fresh start in 2010.

But rather than examining the past, I want you to focus on the future. In other words, forget about what you didn’t do in 2009. Instead, think about what you will do in 2010.

As you do that, here are three things to consider:

  1. Trust your instincts If a trade looks like a loser and smells like a loser, chances are, it is a loser. Cut the loss and move on.
  2. Focus on the trade and not the money If you’re in a winning trade, don’t get out of it just because you’re up money. Instead, get out because the trade stops working.
  3. Finally, know what your pitch looks like Don’t be sloppy and swing at anything.

Trading isn’t a game of luck. It’s a game of probabilities and that means you need to know when you have edge. And make sure you only trade when that edge appears.

Happy New Year! And here’s to a great 2010.

Think better, invest smarter.