Trade Mindfully: Achieve Your Optimum Trading Performance with Mindfulness and Cutting Edge Psychology

Book description

Overcome psychological obstacles to increase trading success

Successful traders need to be well-versed and skilled in a wide range of business and economic areas. But now, in addition to effective trading strategies and sound money management techniques, traders need to possess the know-how to handle the mental and emotional challenges of working in a highly volatile environment. Trade Mindfully is a unique resource that applies cutting-edge psychological techniques to trading skills, allowing readers to improve their mental outlooks and maximize the potential of their trading strategies. This book draws upon recent psychological research in behaviorism to teach new approaches that call for better focus, more confidence, and more positive perspectives and outcomes.

One of the key concepts covered in the book is mindfulness, a state of mind traditionally touted in the East for its ability to reduce stress and increase perspective, useful qualities for traders looking to rise above emotional obstacles and the poor results they cause. The author also discusses the importance of High Value Trading Actions (HVAs), specific actions that are under a trader's control. With this guide, trading professionals will be able to form solid strategies based on a combination of these notions and practices, leading to higher levels of trading performance.

  • Applies sound psychological practice and evidence-based research to the trading profession

  • Covers the psychological perspectives and mental skills needed to succeed in today's trading world

  • Focuses on key concepts that lead to deliberate practice, specific trading activities, and increased awareness and focus

  • Designed to help traders deal with the emotional challenges that come with uncertainty and risk

  • Trade Mindfully touches on the most essential concepts for anyone intrigued by what trading psychology has to offer, and delivers the best strategies for achieving the right mental skills for peak performance.

    Table of contents

    1. Acknowledgments
    2. About the Author
    3. Introduction
      1. How This Book Is Organized
      2. Note
    4. Part I: Understanding Your Mind
      1. Chapter 1: Traders' Mental Blind Spots
        1. Heuristics and Cognitive Biases
        2. Representativeness
        3. Intuitive and Deliberative Thinking
        4. More Heuristics and Cognitive Biases
        5. Endowment Effect
        6. What Traders Can Do
        7. Note
      2. Chapter 2: Strong Emotions in Trading
        1. Forms of Fear
        2. Hope, Greed, and Other Strong Feelings
        3. Emotional Hijackings
        4. Emotional Intelligence
        5. Clarifying Fear
        6. Note
      3. Chapter 3: The Struggle to Control and Eliminate Emotions
        1. Improving the Technical Side of Trading
        2. Avoiding Losses: The Multiple Faces of Loss Aversion
        3. Psychological Control
        4. Notes
      4. Chapter 4: The Necessity of Emotions in Trading
        1. The Unusual Case of Phineas Gage
        2. The Functions of Emotions in Trading Decisions
        3. Becoming Aware of and Open to Your Emotions
        4. A Few Words on Strong Emotions
    5. Part II: Using Cutting-Edge Psychology
      1. Chapter 5: The Traders' Psychological Edge Lies in a Different Kind of Thinking
        1. Mind, Genes, Emotions, and Biology
        2. Avoidance
        3. Negative Reinforcement Directly Affects Trading Performance
        4. A Different Kind of Thinking
        5. Mindfulness
        6. Being in the Zone
        7. The Science of Mindfulness Meditation
        8. Changing Our Genetic Expression
        9. Note
      2. Chapter 6: Practice Mindfulness, Trade Mindfully
        1. Starting Your Mindfulness Practice
        2. Mindfulness Exercises
        3. Applying Mindfulness to Your Trading
        4. Bring Mindfulness into Your Important Trading Activities
        5. Notes
      3. Chapter 7: Defusion: An Advanced Mindfulness Skill
        1. Defusion Strategies and Techniques
        2. Note
      4. Chapter 8: Acceptance and Committed Trading
        1. Acceptance
        2. Commitment
        3. Developing Commitment
        4. Mindfully Committed Trading: The First Step
        5. Using Your Values for Committed Trading
        6. Making Room for Uncomfortable Emotions and Thoughts
        7. Notes
    6. Part III: Maximizing Your Trading Performance
      1. Chapter 9: The Trading Psychology Process: High-Quality Preparation
        1. High-Quality Preparation
      2. Chapter 10: The Trading Psychology Process: Effective Execution
        1. Self-Confidence
        2. Emotional Intensity
        3. Poise
        4. Notes
      3. Chapter 11: The Trading Psychology Process: Constructive Self-Assessment
        1. Self-Esteem
        2. Performance Accountability
        3. Perseverance
        4. Continuous Improvement
      4. Chapter 12: Final Thoughts
        1. Next Steps
    7. References
    8. Index
    9. End User License Agreement

    Product information

    • Title: Trade Mindfully: Achieve Your Optimum Trading Performance with Mindfulness and Cutting Edge Psychology
    • Author(s): Gary Dayton
    • Release date: December 2014
    • Publisher(s): Wiley
    • ISBN: 9781118445617