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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.
AlphaMind do not offer trading or investment advice and do not take responsibility for any investment or trading actions or decisions taken by clients or any observers of our material in any form of media, either now or in future.
Editors’ Picks
AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales
Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.
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