I’m working on a new mental game book for traders. If you like the video, please help me out by filling out my two trading surveys: Part 1 and Part 2.
Here are the files I mentioned in the webinar:
Emotions Tracker
Anger Profile
Fear Profile
Focus Profile
Enjoy and post any questions you have in the comments.
I’m often in high demand at the start of a new year, when ambition and inspiration is high. But I’ve learned over the years working with top performers of all stripes that New Years is not the optimal time to start setting big annual goals. You have too much enthusiasm which can cloud your judgment, set your sights too high, and inevitably when the first obstacle arrives the plan can get derailed. You need a more measured and realistic (but still ambitious) approach.
Rather than waiting until January 2nd, 2019, why not start thinking about what you want to achieve next year, now? Now is a great time to start making, and adjusting, those big 2019 goals with a cool head and plenty of time to really decide what you want to get out of next year. You’ll have breathing room to really plan out what you want to do, rather than rush it all out in January.
It might even help you close out whatever goals you currently have for the rest of this year. Having something to look forward to, as well as a way of taking stock on how this year has gone, might be that spark of inspiration you need to steady the ship for the next few months.
If you’ve had a productive/successful year it’s easy to start sliding by saying to yourself that you’ll start working hard again next year. But what you do now, can actually help make next year a level better. Or perhaps your 2018 goals are not going to happen. Start thinking about how you can set yourself up for a better 2019 now, and still make the rest of this year more productive.
I have some big things in the pipeline and have struggled managing all of it, when my client work has never been busier. It’s a juggling act that I’m going to work harder on the rest of this year, see what I can learn and find a way to make 2019 an even better year.
“Image copyright of Networlding”
Some of you may not know, but for the past 5 years I have been the mental game coach of Team Liquid – the biggest esports organization in the world – and I was recently featured in one of their videos about the work I did to help the League of Legends team quality for the World Champions in Korea next month. It’s a cool look into my work with them and you’ll notice similar themes to things I talk about in poker, trading and golf.
I’m best known these days for my work helping world class poker players eliminate their mental game weaknesses. However, in recent years I have been working a lot more with financial traders to do the same thing. This was a natural addition to my portfolio. A lot of traders found my book The Mental Game of Poker very useful and they discovered it because a lot of traders play poker, and a lot of poker players have turned to trading.
The terminology may be different, but poker and trading are very similar fields. Not only do the same critical skillsets exist for both, the same mental game issues impact both sets of participants. [Read more…]
I wrote a blog recently debunking the idea that golf is 90% mental, and I want to expand that to where I believe the mental game fits in to your performance as a trader. Whether you are a golfer or a trader, your job is to execute. Whether that’s hitting the right shot, or making the right decision at the right time. The only difference is that a golfer uses their body to execute their strategy and a trader uses their mind.
So the question every trader has to answer is simple: what do I need to learn, what are the skills I need to train, and how can I best prepare myself to consistently execute the right shot or the right decision? First and foremost you need trading skill. The mental game can really only help you to become a better trader once you have a strategy based on your knowledge reading charts, technical analysis, and other skills.
In my last blog I said that if golf was 90% mental, then the Dali Lama would be an amazing golfer, but he isn’t. The mind is only so powerful. I say this, so you now I’m not one of those ‘gurus’ blowing smoke up your ass claiming that a positive mental attitude is what you need to be a successful trader. Bullshit. You need to know what the hell you’re doing. Without a trading strategy based on a foundation of knowledge, there is no way to prove your results aren’t just dumb luck. [Read more…]
