Jared Tendler, a mental game coach for PGA Golfers, poker players, e-sports gamers, and traders, discusses emotional profiles in trading, improving C-game to enhance overall performance, and the impact of emotions on decision-making. He also provides free worksheets and an intuition eBook for listeners.
Analyzing emotions like fear and overconfidence is vital for trading success.
Addressing confidence issues through self-analysis leads to better decision-making.
Accepting losses as part of trading journey builds toughness and improves performance.
Deep dives
Recognizing Emotions' Impact on Trading Decisions
Being aware of how emotions like fear and overconfidence affect trading decisions is crucial for success. Traders should not bury their emotions but instead analyze and understand them to avoid making costly mistakes. By unearthing the underlying reasons for emotions, traders can build a stronger mental game, enhancing decision-making.
Building Confidence Through Self-Analysis
Confidence is a common struggle for traders. While many think they battle fear, they often underestimate confidence issues. Recognizing and addressing confidence challenges through self-analysis is key. By focusing on mistakes, traders can pinpoint recurring patterns and evaluate their emotional responses, leading to improved decision-making.
Managing Emotions and Developing Toughness
Loss aversion and the fear of losing can hinder trading performance. One effective tip is to develop toughness by accepting the pain of losing as part of the trading journey. Tracking emotions, thoughts, and decision-making processes during trading sessions can help traders identify and address their fear of failure and loss aversion.
Enhancing Performance Through Emotional Awareness
Improving the 'C' game in trading involves recognizing patterns, thoughts, and emotional triggers during trading sessions. Traders can use a notepad to log their experiences, aiding in the identification of common mistakes and emotional responses. By aligning these observations with common trading challenges like tilt, fear, overconfidence, and discipline issues, traders can enhance their emotional awareness and decision-making skills.
The Nature of Trading and Competition
Trading aligns with human nature, emphasizing competition and skill development. Traders face challenges to enhance their performance and minimize emotional interference. By viewing trading as a competitive pursuit that requires continuous improvement, traders can sharpen their mental game, improve their intuition, and excel in a dynamic and competitive trading environment.
On this episode Ian is joined by acclaimed mental game coach Jared Tendler. Jared has worked extensively with PGA Golfers, poker players, e-sports gamers, and active traders.
In Jared's latest book, The Mental Game of Trading, he shares his expertise and provides a step by step guide for mastering trading psychology.
In the episode, Ian and Jared discuss the following topics:
Why map emotions in the first place?
Common emotional profiles (Fear, Greed, Anger, Tilt) that Jared sees, and some common traits for each.
Does trading go against human nature?
How improving your C-Game (worst days) can start to improve your B and A Game.
And much more!
Jared also has provided free worksheets, and a free Intuition eBook that listeners can obtain from his site:
