This book delves into the biological aspects of risk-taking, especially in the context of financial markets. John Coates, drawing from his experiences as a trader and his research in neuroscience, explains how physiological changes, such as fluctuations in testosterone and cortisol levels, influence traders' behavior. He describes the 'hour between dog and wolf' as the moment when traders transform into exuberant risk-takers or cautious risk-avoiders based on their physiological state. The book also discusses how these biological factors can lead to market bubbles and crashes and suggests strategies for managing these risks, including changes in bonus systems and diversifying trader demographics.
In this episode of the AlphaMind podcast we interview veteran retail trader Greg Gossett.
Greg is well into his third decade of retail trading, proving that it can be done, and can be done well.
In this excellent interview Greg shares with Steven and Mark his thoughts on the 3 key things he wished he had known when he started trading that he knows now. These 3 aspects are cornerstones to his trading method and his reflections on them are powerful insights in trading which carry important lessons for traders of all levels.
Greg also provides a daily mentor and trading podcast which is available to all free on Youtube. Greg talks about his work mentoring traders on his Gossett Trading & Mentoring and how it helps him in his own trading.
Gossett Mentoring & Trading can be found on YouTube at: https://www.youtube.com/channel/UCviK0XeiDS0l1deHtEVmrKw.
Greg's twitter handle is: @gossetttrading.
The latter part of this episode looked at the ‘Performance’ aspects of trading with a rather unusual twist: Mark raised the idea that elite athletes are using ‘Chewing Gum’ to enhance performance, with the act of 'chewing gum' being related to improved performance.This performance aspect expanded out more fully into a discussion on performance, human biology, neuroscience, and trading.
This was a great and highly inspiring interview which includes some great discussions and valuable lessons on the mental aspects of trading.
AlphaMind: Powering Performance in Global Markets
AlphaMind brings powerful change, growth and development to people and businesses within global markets.
Driven by a deep understanding of how markets work, and how people and businesses function within them, we partner with clients to create personal performance improvements that elevate returns across their trading activities.
Go to the AlphaMind website to know more.
The AlphaMind Podcast 