Futures Radio Show
Mastering the Mental Game of Trading with Steven Goldstein
Feb 21, 2024
Trading psychology expert, Steven Goldstein, discusses mastering the mental game of trading by focusing on ego, self-sabotage, and staying present under pressure. He emphasizes 'letting go' as a key factor for success and offers strategies to overcome psychological pitfalls, elevating your trading game. The conversation delves into the challenges traders face with self-sabotage, resilience, and embracing a solid trading process. Steven highlights the importance of presence in trading, drawing inspiration from iconic athletes, and stresses the significance of mastering the mental aspects of trading for improved performance.
42:32
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Quick takeaways
- Mastering the mental game of trading involves letting go of ego, self-sabotaging behaviors, and staying present under pressure.
- Ego can impact trading decisions positively as a motivating force, but it can also lead to self-sabotage if not managed effectively.
Deep dives
Understanding the Psychological Aspects of Trading
Trading success involves a complex blend of technical/fundamental analysis and psychological factors. The speaker emphasizes the significance of psychological elements in trading, indicating that the entire trading process is heavily influenced by one's ability to navigate the emotional challenges that arise, particularly during execution. He highlights the importance of managing performance anxiety and staying true to the trading plan, drawing parallels to how athletes must remain focused amidst unexpected challenges.
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