The Mental Game of Trading: A System for Solving Problems with Greed, Fear, Anger, Confidence, and Discipline

by Jared Tendler

Overview

A step-by-step system for mastering trading psychology.

Think about your most costly and recurring trading mistakes. Chances are that they're related to common errors, such as chasing price, cutting winners short, forcing mediocre trades, and overtrading. You've likely tried to fix these errors by improving your technical skills, and yet they persist. That's because the real source of these mistakes is not technical-they actually stem from greed, fear, anger, or problems with confidence and discipline.

If you are like most traders, you probably overlook or misunderstand mental and emotional obstacles. Or worse, you might think you know how to manage them, but you don't, and end up losing control at the worst possible time. You're leaving too much money on the table, which will either prevent you from being profitable or realizing your potential.

While many trading psychology books offer sound advice, they don't show you how to do the necessary work. That's why you haven't solved the problems hurting your performance. With straight talk and practical solutions, Jared Tendler brings a new voice to trading psychology. In The Mental Game of Trading, he busts myths about emotions, greed, and discipline, and shows you how to look past the obvious to identify the real reasons you're struggling.

This book is different from anything else on the market. You'll get a step-by-step system for discovering the cause of your problems and eliminating them once and for all. And through real stories of traders from around the world who have successfully used Tendler's system, you'll learn how to tackle your problems, improve your day-to-day performance, and increase your profits.

Whether you're an independent or institutional trader, and regardless of whether you trade equities, forex, or cryptocurrencies, you can use this system to improve your decision-making and execution. Finally, you have a way to reach your potential as a trader. Now's the time to make it happen.

Product Details

ISBN-13:	9781734030914
Publisher:	JT Press
Publication date:	04/12/2021
Pages:	328
Sales rank:	90,831
Product dimensions:	6.00(w) x 9.00(h) x 0.69(d)

About the Author

Jared Tendler, M.S., LMHC, is an internationally recognized mental game coach. His roster of clients spans 45 countries and includes independent and institutional traders, world champion poker players, entrepreneurs, esports athletes, and several PGA Tour players. In addition to The Mental Game of Trading, Jared is also the author of two best-selling books, The Mental Game of Poker and The Mental Game of Poker 2. Jared previously served as the Head of Sport Psychology for the esport organization Team Liquid. He was a key driver of many of their championships, including The International 2017 (DOTA2), the Intel Grand Slam (Counter-Strike) and four League Championship Series titles (League of Legends). His interest in the mental game was born out of personal experience. While playing collegiate golf for Skidmore College, Jared was a three-time All-American and won nine tournaments, yet continually choked in major national events. Driven to find answers, he earned a master's degree in counseling psychology and became a licensed therapist to solve the problems conventional sports psychology couldn't. Since then, Jared's straightforward and practical approach to coaching has helped thousands solve their mental game problems and perform at their highest levels.

Table of Contents

CHAPTER 1: A SYSTEM TO FIX MENTAL GAME PROBLEMS . . . 1

Emotions Aren't Evil-They're Signals to Use and Learn From . . . 4

Why You Need a System . . . 8

CHAPTER 2: MAP YOUR PROBLEM . . . 16

Understanding Emotions as Signals . . . 17

Creating the Map . . . 27

CHAPTER 3: IDENTIFY THE ROOT OF YOUR PROBLEM . . . 32

Common Learning Pitfalls . . . 34

The Inchworm Concept . . . 37

Uncovering What's Causing Your Backend Problems . . . 48

CHAPTER 4: GREED . . . 55

The Nature of Greed . . . 56

Common Signs of Greed . . . 58

Mapping Your Greed . . . 60

The Real Cause of Greed . . . 64

CHAPTER 5: FEAR . . . 69

The Nature of Fear . . . 72

Common Signs of Fear . . . 74

Mapping Your Fear . . . 80

Fear of Missing Out (FOMO) . . . 86

Fear of Losing . . . 90

Fear of Mistakes . . . 97

Fear of Failure . . . 109

CHAPTER 6: TILT . . . 120

The Nature of Tilt . . . 122

Common Signs of Tilt . . . 124

Mapping Your Tilt . . . 127

Hating to Lose . . . 133

Mistake Tilt . . . 143

Injustice Tilt . . . 155

Revenge Trading . . . 165

Entitlement Tilt . . . 172

CHAPTER 7: CONFIDENCE . . . 174

The Nature of Confidence . . . 178

Common Signs of Overconfidence . . . 179

Common Signs of Lack of Confidence . . . 182

Stable Confidence . . . 186

Mapping Your Confidence . . . 188

Correcting Cognitive Illusions and Biases . . . 193

Perfectionism . . . 215

Desperation . . . 224

Hope and Wishing . . . 232

CHAPTER 8: DISCIPLINE . . . 240

The Nature of Discipline . . . 243

Common Signs of Discipline Problems . . . 244

General Strategies to Improve Discipline. . . 246

Mapping Where Discipline Is Needed . . . 249

Impatience . . . 253

Boredom . . . 256

Being Overly Result Oriented . . . 260

Distractibility . . . 262

Laziness . . . 269

Procrastination . . . 272

CHAPTER 9: CORRECT YOUR PROBLEM . . . 275

Malfunctioning Mind . . . 276

Real-time Strategy . . . 280

Build a Productive Routine . . . 290

CHAPTER 10: TROUBLESHOOTING A LACK OF PROGRESS . . . 297

Difficulty Recognizing Your Pattern . . . 297

Things Get Worse Before They Get Better . . . 298

Burnout . . . 300

Bloated Brain . . . 301

When Life Bleeds into Trading . . . 304

FINAL THOUGHTS . . . 309

Endnotes . . . 311

Acknowledgments . . . 313

About the Author . . . 314