I am glad to have another guest post by Mr. Jared Tendler again, a leading expert in how your mental game impacts performance. For those who have missed the earlier article by Jared, you may refer to https://www.jeffsuntrading.com/working-through-performance-flaw-three-steps-towards-resolution-guest-post-by-jared-tendler/
If you are keen with more of Jared’s material, you may be interested with a video interview conducted by TraderLion : ‘Trading: The Mental Game’
How Traders View Psychology and Emotions in Trading
I’m happy to share the results from a survey I conducted to learn more about how traders view psychology and emotions in trading. The results were fascinating and will give all of you something to consider as you evaluate your next steps as a trader.
There was both a large number of responses and a wide range of traders who completed the survey. This was in part, thanks to help from eight different trading communities. As a result, the the survey results I’m about to share with you remained the same regardless of age, gender or geography.
Here’s what the survey found:
- 96% of traders believe emotions can negatively affect your trading decisions.
- 91% are able to recognize when emotions like fear, greed, anger, overconfidence and lacking confidence impact your performance.
- But, only 34% have a system in place to manage those emotions.
First off, it’s amazing how many traders can recognize the impact that emotions have on their results. I know this is not true in other industries. That’s a testament to the many trading professionals who have encouraged traders to take psychology seriously.
Secondly, what comes next. There are 57% of you all out there who recognize when emotions affect your results but don’t know how to manage your emotions – that has to change and I’m the guy to help.
I’ve spent the last 16 years honing a system for psychology that is logical, practical and easy to apply. If you’re new to my work, I highly recommend you check out my website where you can download worksheets and a new “Quick Guide” to my system for trading psychology. All of these materials are a companion to my book, The Mental Game of Trading, which provides solutions to problems with greed, fear, anger, confidence and discipline.
Trading is intense and it’s hard to handle your emotions with the kind of poise and determination that is needed. But it’s not impossible. This is a skill that can be learned. Take it one step at a time and before you know it you’ll get to where you want to be.
