Trading Athlete

Overview

Traders, just like athletes, constantly deal with unrelenting pressure, performance slumps, confidence issues, and changing motivational factors. This is why the psychology of elite athletes has translated so effectively to that of the online trader.

In The Trading Athlete, sport psychologist Shane Murphy and trading coach/former Division I athlete Doug Hirschhorn take the strategies of sport psychology and apply them to the arena of online trading. This one-of-a-kind play book ...

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Overview

Traders, just like athletes, constantly deal with unrelenting pressure, performance slumps, confidence issues, and changing motivational factors. This is why the psychology of elite athletes has translated so effectively to that of the online trader.

In The Trading Athlete, sport psychologist Shane Murphy and trading coach/former Division I athlete Doug Hirschhorn take the strategies of sport psychology and apply them to the arena of online trading. This one-of-a-kind play book will give you the confidence and discipline needed to build a profitable, long-term career as a "Trading Athlete."

Apply the mental strategies of elite athletes to your online trading game plan by writing a mission statement, setting effective goals, and maintaining confidence through body language. As you continue to trade and obstacles arise, this book provides the tools necessary to overcome the bad days, weeks, and even months that come with the territory. "Trading Athlete" strategies for difficult times include:

  • Maintain a Positive Trading Attitude (PTA)
  • Use "self-talk" to get back on track
  • Avoid a "trade for revenge" strategy

Peppered with consulting stories of online traders and sport psychology strategies that work, this book will teach you how to deal with pressure, reduce stress, and stay focused as you engage in the "game" of online trading. Bounce back mentally from losses as John McEnroe did after Bjorn Bjorg defeated him in the 1980 finals of Wimbledon. McEnroe faced his failures, overcame them, and beat Bjorg in the finals of Wimbledon the very next year. Carry the expectations of a nation (or a company/family in a trader’s case) as Olympic sprinter Cathy Freeman did in 2000 by "tuning in" and staying focused on the task at hand. You don’t have to play sports to understand the principles behind this unique trading guide. All you need is the desire to put yourself in the best possible position to win.

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Product Details

  • ISBN-13: 9780471418702
  • Publisher: Wiley
  • Publication date: 8/16/2001
  • Series: Wiley Trading Series , #397
  • Edition number: 1
  • Pages: 320
  • Sales rank: 1,484,696
  • Product dimensions: 6.44 (w) x 9.33 (h) x 1.06 (d)

Meet the Author

SHANE MURPHY, PhD, is one of the most prominent sport psychologists in the country today. As sport psychologist for the U.S. Olympic Committee, he personally guided the mental preparation of five Olympic teams and has worked with thousands of athletes training for the Olympic Games. Currently a high-performance consultant, he works regularly with brokers and traders at such prominent companies as PaineWebber, Dreyfus, and J. & W. Seligman & Co. Murphy is also an assistant professor in psychology at Western Connecticut University. He is the author of The Achievement Zone and The Cheers and the Tears.
DOUG HIRSCHHORN, MS, worked at the Chicago Mercantile Exchange and the Chicago Board of Trade for several years and has been trading stocks online ever since. He has combined his knowledge of trading with his experience as a former Division I athlete and his expertise as a performance consultant to help traders prepare mentally for the trading game. Doug Hirschhorn became the Director of Trader Motivation & Performance at Schonfeld Securities, LLC in May 2001.

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Read an Excerpt

http://catalogimages.wiley.com/images/db/pdf/E0471418706.01.pdf
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Table of Contents

Introduction: The Mental Game of Trading.

The Mental Keys to Becoming a Masterful Online Trading Athlete.

Setting and Achieving Your Goals.

Confidence: The Foundation of Success.

How Winners Handle Losing.

How to Energize, Not Catastrophize, in Pressure Situations.

Trading for Revenge: A Recipe for Disaster.

Recovery from Trading Injuries: Overcoming Fear.

Concentration: Tuning In to Success.

Enjoying the Moment: Playing the Game One Trade at a Time.

Postgame Wrap-Up.

Appendix A: Extra Innings.

Appendix B: Using What You Know.

Appendix C: Scenarios for the Trading Athlete.

About the Authors.

Index.

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Sort by: Showing all of 2 Customer Reviews
  • Anonymous

    Posted November 29, 2001

    for traders who wish to succeed

    i recently finished Murphy and Hirschhorn's work, 'The Trading Athlete' and have found a vast improvement in my profiability and mental outlook since then. In very simple terms and guidelines this work helps traders of all levels conquer the psychological aspect of the trading game and continue to improve on their continuous and longstanding profiability as traders. I recommend it to traders no matter how many years they've been on 'the Street.'

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  • Anonymous

    Posted November 13, 2001

    A Must Read for Online Traders

    I have been trading online for over 5 years, and had I had this book at my disposal 5 years ago, Murphy and Hirschhorn would have saved me bundles of money and even more in stress and aggravation. Their insightful and easy to implement approaches to concepts such as trading goals, slumps, focus, pressure, distractions, recovering from bad trades and just enjoying the challenge of trading will give any online trader the basic tools he or she needs to become successful at this game. And a game it is, as the authors skillfully compare trading to sports and athletics. Easy to follow, self-help worksheets, and clear, understandable analogies to the world of sports will keep you coming back to this book for a quick 'skill sharpening' and will also keep this book front and center on your trading desk. Read all the stock reports, and hands-on trading books you want. Until you master the mental part of the world of online trading, you won't get anywhere. This book will assure that you master the mental part of your careers and will undoubtedly be the key to a long and successful career in online trading.

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