How to Train Your Mind, Manage Your Emotions, Enhance Your Decisions and Maximise Your Profits
TraderMind is an essential resource for understanding and applying mindfulness-based approaches that help to enhance an individual trader’s overall performance. Based upon extensive research and practical application in the real world of the trading floor, TraderMind includes methods, tactics and techniques to build and enhance awareness and insight, which help manage thoughts and emotions and maximize trading performance.
TraderMind has been written as a result of the evolution of my own approaches to working with traders and fund managers, both in individual and group sessions, which, over recent years, has seen me incorporate mindfulness‐based approaches into my repertoire in an attempt to increase my effectiveness with clients and the results that they achieve. As you will discover later in the book, the use of mindfulness‐based approaches is growing in many performance‐orientated areas including sports, the military, law enforcement, trauma medicine and in corporate leadership programmes.
TraderMind makes the case for the use of mindfulness‐based approaches to enhance trader performance, based upon research and practical applications in the real world of the markets. It seeks to teach you specifi c approaches, practices and techniques that will help you to build the skills of awareness and attention, which will enable you to manage your thoughts and emotions more effectively, overcome habitual or impulsive trading behaviours that are not useful, manage your feelings of energy, develop your market feel and intuition, become more responsive to the market, become more situationally aware and build patterns of effective trading behaviour, as well as overcoming behavioural biases and ultimately enhancing your trading decisions.
The book concludes with a template for an 8‐week TraderMind training programme, with a specifi c focus for each week and recommended exercises and reading to complete. Taking the time to complete the programme will provide you with a formalised training programme and enable you to integrate all the knowledge and strategies from the book, develop your skills and maximise the benefi ts you get from your purchase. (The programme is supplemented by access to several online resources that will complement your training experience and learning.)
Here are a few key points to help you get the most out of TraderMind:
- Remain curious and open minded; there are some relatively new approaches in this book that may be unfamiliar to you at fi rst – they were to me once. Keep an open mind and try ideas out fi rst before making any judgements.
- TraderMind is a skills‐based programme; to get the most from it will require effort and commitment. Just like developing any skill, practice and time are required.
- Utility – everyone who reads this book will be different in some way. As you go through the book take out what is use-ful (workable) for you in relation to what you are trying to achieve in your trading. Think in terms of utility, what is use-ful or not, rather than right or wrong.
- Keep your expectations reasonable and manageable to increase your chance of success.
- Remember that enhancing performance is evolutionary and not revolutionary – work at learning the key content and ideas from the book, practise the exercises and techniques, and keep looking for signs of progress.
- What is Mindfulness?
- Developing Your Mindfulness Muscle
- The Attention and Awareness Advantage
- Thinking About Thinking
- Embracing Emotions
- Managing Urges and Impulses
- Trading With the Body in Mind
- Habits, Behaviour, Action
- Turning Towards Diffi culty
- The Mindful Trader and Investor