If you’ve ever wondered if trading could be related to anything else in life, then today you’ll be enlightened.
Jared Tendler is the author of the newly release book “The Mental Game of Trading”, and uses techniques he’s pulled form the eSports, Poker and professional sports industries.
Today you’ll learn the 5 mental pillars that make up a traders mindset and techniques you can apply to master them.
Podcast Interview
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Interview Links
Website – JaredTendler.com
Twitter – @JaredTendler
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Key Lessons
[11:53] Market conditions can change in a dime.
[12:06] The demands of what traders need to have in terms of their psychological, mental strength, I think, is even greater than poker players.
[15:49] You can’t solve greed by trying to make yourself less greedy.
[16:14] It’s not greedy to want money. It’s greed that violates your system in a way that going to cost you money.
[17:08] You cannot make up for lost money.
[18:22] You don’t get paid for making prognostications. You get paid for estimating where your edge is.
[19:15] The fastest way you can begin making progress is just to have a notepad next to you.
[26:22] You need to feel that intensity. You need to have those nerves. They are part of the game.
[27:03] When you’re a newer trader, your system is not sophisticated enough yet.
[29:42] A FOMO is kind of an umbrella term that’s almost meaningless because it’s not fear.
[30:16] The fear of missing out is the avoidance of hating losing.
[31:57] The emotional system has the power to shut down higher brain function.
[33:07] You need to stop being so emotional. That’s the problem.
[34:56] You need to be competent, more than you need to be confident.
[40:25] To build discipline, you have to force yourself to follow your strategy and execute your system when it’s hard.
[44:27] You will always have mental and emotional weaknesses.
