The mental game of trading
|Play the podcast:
The mental aspect of trading is probably the hardest and most challenging part of trading to manage and overcome. You can be strong technically, and may possess a great process or system, but it is the mental side which often causes the most frustration for traders. This is not dissimilar to what happens in sport and gaming.
Our recent episode of the AlphaMind Podcast featured an interview with Jared Tendler. Jared is the author of a new book, “The Mental Game of Trading”.
Jared talks about the blindspots people have in seeing the mental challenges and problems they face. He believes they often compound this error by trying to fix their costly and recurring trading habits by trying to improve their technical skills, when the real root of these mistakes resides within each person at a psychological level.
Jared has worked as a mental game coach with PGA Tour golfers and world champion poker players and has written extensively about the mental game of poker.
Issues Jared talks about in this episode include:
- Choking, which is common to all areas of high performance.
- The importance of getting 'In The Zone'.
- How Jared’s approach, as featured in his book, seeks to bridge the gap from knowledge of psychological issues to helping people make transformations.
- Many other areas of the mental game which will fascinating to people involved in and curious about trading and investment roles.
The similarity between high performance in sport and in trading is often overlooked. In sport it is expected and accepted that several coaches work to achieve perfection in those even at the top of their game, but in trading this is only now becoming to be recognised as essential in building trading edge. The AlphaMind Project works to create and refine this mental edge, the Project calls upon significant markets experience to develop your trading finesse, to understand trading nuances and to build a degree of ‘touch’ and ‘feel’ that as in sport can only be taught from experience.
If you enjoy this episode, do feel free to share this with colleagues and to review and rate the episode on which ever medium you listened on.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.