TraderMind: Get a Mindful Edge in the Markets
Format: PDF / Kindle (mobi) / ePub
Become a savvy trader with a "mindful" edge...
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.
The author demonstrates how to overcome habitual or impulsive trading behaviours, manage energy levels, become more attuned to and responsive to the market, more situationally aware and build patterns of effective trading behaviour. By developing these skills and good behaviours, traders can overcome inherent biases and, ultimately, improve their trading decisions.
The techniques outlined in TraderMind can be utilized as core competencies of trading psychology or can be used to complement other behavioural methods and strategies. The TraderMind tool-set does not replace the need for basic trading skills, knowledge, strategy, or key performance enablers such as preparation and performance analysis. Rather, TraderMind is designed to act as a facilitator or multiplier to enhance trader decision-making and improve overall performance. "A thoughtful read with 'bang-for-the buck' practical strategies for time pressed traders." – Linda Raschke, President at LBRGroup, Inc., CTA
Also includes the TraderMind 8 Week Training Program PLUS Access to online resources and audio recordings to enhance your learning experience.
Management shared some key findings of his research using simple mindfulness-based interventions to enhance trader decision making.14 Among his key findings were: Mindfulness is associated with changes in areas of the brain relating to emotion regulation, response control and deliberate decision making. Mindfulness seems very relevant for traders. Mindfulness increased attention. Feelings of stress were reduced. Managing emotions (such as fear and anger) was improved. Traders learnt to accept
air in and out, just noticing. When your mind wanders – as my own mindfulness teacher likes to remind me “as minds do” – just notice where it went and then gently bring your attention back to the breath. This process is exactly the same as I utilised with athletes in my sports psychology days to develop their attentional skills. Figure 2.2 The four stages of the Mindfulness of Breathing practice. Using your breath as a point of focus has three distinct advantages. Firstly, it is always with you
the future as the urge intensity decreases through exposure. Core to urge surfing is using your ability to simply notice your experience of the urge with a sense of openness and acceptance. What sensations are present? What thoughts arise? What emotions are with you? What urge for action do you have? Applying the non-judgemental aspect of mindfulness requires you to do this without evaluating them as good or bad in any way but simply to notice them, objectively for what they are, and in that
taking time to conduct, for example, a sitting breathing practice, the mindfulness of breath and body practice or the body scan, or perhaps some mindful movement. Much of the research into the benefits of mindfulness training demonstrates a clear link between the outcomes achieved and the amount of time spent practising. Informal practice might include taking a mindful walk, eating or drinking mindfully, performing an automatic behaviour like brushing your teeth in a more mindful way, taking
fitness programme going forward. Complete the practice form. Review Firstly, if you have completed the full 8-week programme then a big “well done” because it takes a significant investment of time, energy and commitment to do so. I am sure that, as a result, you have already noticed some changes in your trading experience and now is a great time to capture these. It would also be useful to retake the Mindful Attention and Awareness Scale and see what you notice; perhaps record your key