Trading: The Mental Game | Jared Tendler
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- เผยแพร่เมื่อ 2 ก.ค. 2024
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📰 TL Trading Academy: traderlion.com/YT-TLA Welcome back to the TraderLion Podcast. Today we are featuring an Interview with Jared Tendler, Mental Game Coach and Author
Building on his background from competitive golf, Jared has developed systems to track emotional states and prevent many of the mistakes Trader's make with regards to FOMO, TILT, etc.
Connect with Jared:
/ jaredtendler
jaredtendler.com/
/ jaredtendler
Jared books:
The Mental Game of Trading: amzn.to/3xWiWoO
The Mental Game of Poker amzn.to/3Gg8QCb
The Mental Game of Poker 2 amzn.to/31xvBm6
Enjoy!
- The TL Team
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Learn How To Trade from Market Legend Stan Weinstein
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Level Up Your Trading Psychology with Mental Game Expert Jared Tendler
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Timestamps:
0:00 Introductions
0:40 How to Jared became a Mental Game Coach
1:30 Golf, Poker, and Trading
5:46 Differences between Poker Players and Traders
6:29 Mental Game Problems
11:29 FOMO
15:20 Take notes during the trading session
16:20 The Fight or Flight Mechanism
19:25 You have to be prepared
20:18 The Inch Worm Concept. A Game, B Game, C Game
25:00 Focus on improving your C game
26:15 Consistency versus Performance Phase
27:59 Dealing with Losses and Drawdowns
32:30 Fear is caused by projection
32:55 Trading after a huge loss, athlete metaphor
36:25 habits and Routines to improve your Mental Game
41:15 Most traders think they have discipline issues when they really have emotional issues
47:45 Attachment to Money
51:00 Tips to Execute
53:58 Advice for New Traders
📘 Get your FREE 115-page Ultimate Trading Guide! - traderlion.com/YTC-UTG
👇 What you'll learn!
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Lesson 1: Build a sturdy trading foundation to overcome the biggest obstacles holding you back.
Lesson 2: Master 3 powerful trading setups to adapt and thrive in various market conditions.
Lesson 3: Efficiently screen and find top-performing stocks with strong momentum and high growth potential.
Lesson 4: Establish a streamlined risk management strategy using stop losses, position sizing, and portfolio heat analysis.
Lesson 5: Optimize selling decisions by identifying late-stage bases or key trend reversals by analyzing daily and weekly charts.
Lesson 6: Sharpen your trading analysis and decision-making by integrating cutting-edge analytical tools and techniques.
Lesson 7: How to establish and maintain routine weekly and daily trading practices to ensure consistent performance and continuous improvement.
Jared Tendler is our generation Mark Douglas and possibly takes it all to another level. Excellent content. Thank you for the share!
Timestamps:
0:00 Introductions
0:40 How to Jared became a Mental Game Coach
1:30 Golf, Poker, and Trading
5:46 Differences between Poker Players and Traders
6:29 Mental Game Problems
11:29 FOMO
15:20 Take notes during the trading session
16:20 The Fight or Flight Mechanism
19:25 You have to be prepared
20:18 The Inch Worm Concept. A Game, B Game, C Game
25:00 Focus on improving your C game
26:15 Consistency versus Performance Phase
27:59 Dealing with Losses and Drawdowns
32:30 Fear is caused by projection
32:55 Trading after a huge loss, athlete metaphor
36:25 habits and Routines to improve your Mental Game
41:15 Most traders think they have discipline issues when they really have emotional issues
47:45 Attachment to Money
51:00 Tips to Execute
53:58 Advice for New Traders
1. Decision making process is your asset, hone it.
2. FOMO , Take notes during the trading sessions and analyse it. Like how you respond by watching a missing opportunity tho logically there will be n number of same trade opportunity will occur again and again. Even being aware of this you take emotional decision.
Jared really completes works of Mark Douglas and Van Tharp in trading psychology- some really easy to follow principles that should make its way into ones trading process
Thanks for watching!
“Your asset is your decision making process.” 💯
Yes!
For me FOMO is more fear than greed driven. Deep down I know I am taking too much risk when the urge to buy due to fear of missing out strikes, but the fear of missing a rally overwhelms my rational thinking and patience. It is critical to realize there will be other chances and since trading is a game of probability it's better to do nothing if you are not trading from a position of calm and confidence. That said I don't think FOMO is totally irrational. Proper setups can be few and far between in a risk off market so it's true if you didn't get a good entry you probably missed the trade. But no amount of panic buying is going to solve that. You just have to accept you won't catch every rocket.
Great advice to do some self observation and understand why it happens to each of us.
No need to desperately chase, there will be plenty of opportunities throughout one's lifetime. Infinite Opportunities keep knocking again & again. Allowing time and space is the key. FOMO is associated with high speed and losing stability at the peak moment.
Increasing the number of variables for decision making can reduce the speed of FOMO.
Trading is like a sports competition which involves rigourous practice sessions regularly. All the practice & Decisions should be made before the event.
War strategies cant be planned in the war (or) at the war moment but much before the actual war.
Clarity brings in mental Balance. Preparation and mental reharsal etch the actions in the mind. Pilot is a well trained professional who does things on autopilot.
We need to have systems in place and execute flawlessly. Our goal should be to be strategic in planning before the game and systematic during the game.
Not taking things for granted and having FEAR might help being grounded. Preservation is what nature teaches us. Money 💸💸💸 may wait rather than getting eroded.
The athlete with a foot injury comparison and so much more makes this a ‘gotta watch’ again. A new book on my list. Thanks to both & Traderlion for this great interview. 👊
Thanks Tony!
Excellent, enjoy the book!
Your interviews get better and better. Totally awesome, again.
Thank you!
Great insights by Jared and I've now started the Audiobook on the strength of your interview, also subscribed to the channel. Thanks for the content.
I love how this Jared Tender decided tomade his problems his life's mission to solve them no matter the cost
Richard. I love the interviews. Great stuff. Will sign up for a membership soon. Missed Black Friday sale. Maybe a New Years sale lol ?
Thanks Jared and Richard ...another great interview. It was very informative... very good questions Richard. The interview stayed very enjoyable.I think I'll have to get the book.
Glad you enjoyed it!
I have this book.. decided I need to read it again!!! 👍🏼 Great interview!
Thank you!
so many great lessons on traderlion, thanks so much.
Our pleasure!
Good stuff, very helpful. Thx Jared. Thx Richard!
Glad you enjoyed it!
Great video, sure to be watching again, subscribed to his podcast.
Awesome, thank you!
Book is a total game changer - Great interview... :)
Awesome to hear that Jason!
Much respects Trader Lion team and Jared!
Thanks for watching Keekz!
This is so valuable and helpful.
Definitely!
Richard your content are awesome..you are an under appreciated gem. I think this is the reason very few people succeed in trading.
Thanks!
Superb thank so much for this
Most welcome 😊
Tomorrow is a fantasy in the minds of procrastinators...love that statement
💯
this one is awesome, thanks!
Thanks for watching!
Brilliant program!
Thanks!
perfectly said
Great!
I was reading his book Richard, you are fantastic! Question for you, how do you organize your mind to achieve so much work? Have you some speed reading books would you recommend?
A+ video
Thank you Ed!
Take the hit and don't make a second mistake, that happened to me last week, i hit buy and didn't look at quantity thought it was 1 but was 10, got out but at a small loss immediately cause it was a mistake move. So i then right after that went into settings and set the default to 2 for quantity of contracts, so next time if i want more i can go change it manually, but the set amount is where i can handle it. I was right the trade was a very good one, but had a pullback that cost me a little cause of the mistake of how i entered, the entry was flawed but the trade itself wound up way ITM and had the amounts been smaller would have been easier to hold as it dipped on a pullback.
that inchworm theory just sparked a lightbulb in my head, gonna keep rewatching this over and over again. Thanks
Awesome! Thanks Nick
great content!
Thank you !
Great!
Thanks!
Can you please mention the author apart from Mark douglas that he mentioned towards the end? Thanks for the insightful interview
Thanks
Our pleasure!
I sure wish I had heard this in December 2021, maybe would have save my accounts that have since blown up.
Focus on next! You can do it
Emotions are like losses. Keep them small.
Well said!
More mindset & psychological topic would be nice
More on that soon!
Yep, made 40% in a single day, gave back 2% and realized I need to stop trading. Just enjoy the win.
Yeah i don't like it when i win big but got that by a mistake, it feels more like luck, i'd rather lose in my system than win big by just randomness. Mostly cause it feels flawed. I'd rather be stuck to a system than winning cause i just happened to get it right like a gambler. Also the work put in makes it seem worthwhile, vs some dumb luck move, we've all had them. Not against it, but it feels wrong, same as losing money. It maybe as though it was just chance and not a system of techniques and skills developed in trading that made it happen.
👍
Thanks Ed!
Didn't this guy write a book about mental game of poker?
Yes, see description for book list
Thanks... Your C game is not fun, your job is not to be in your A game all the time. Suck less when in your C game. Great stuff, Book ordered.
100%
Sucking less is the key to success. Enjoy the book!
46:30 area is a good note