- Hardcover: 288 pages
- Publisher: Wiley; 1 edition (August 17, 2001)
- Language: English
- ISBN-10: 0471418706
- ISBN-13: 978-0471418702
- Product Dimensions: 6.4 x 1.1 x 9.3 inches
- Shipping Weight: 1.4 pounds (View shipping rates and policies)
- Average Customer Review: 12 customer reviews
- Amazon Best Sellers Rank: #429,059 in Books (See Top 100 in Books)
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The Trading Athlete: Winning the Mental Game of Online Trading 1st Edition
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From the Inside Flap
Traders, just like athletes, constantly deal with unrelenting pressure, performance slumps, confidence issues, and changing motivational factors. This is why the psychology of elite athletes has translated so effectively to that of the online trader.
In The Trading Athlete, sport psychologist Shane Murphy and trading coach/former Division I athlete Doug Hirschhorn take the strategies of sport psychology and apply them to the arena of online trading. This one-of-a-kind play book will give you the confidence and discipline needed to build a profitable, long-term career as a "Trading Athlete."
Apply the mental strategies of elite athletes to your online trading game plan by writing a mission statement, setting effective goals, and maintaining confidence through body language. As you continue to trade and obstacles arise, this book provides the tools necessary to overcome the bad days, weeks, and even months that come with the territory. "Trading Athlete" strategies for difficult times include:
- Maintain a Positive Trading Attitude (PTA)
- Use "self-talk" to get back on track
- Avoid a "trade for revenge" strategy
Peppered with consulting stories of online traders and sport psychology strategies that work, this book will teach you how to deal with pressure, reduce stress, and stay focused as you engage in the "game" of online trading. Bounce back mentally from losses as John McEnroe did after Bjorn Bjorg defeated him in the 1980 finals of Wimbledon. McEnroe faced his failures, overcame them, and beat Bjorg in the finals of Wimbledon the very next year. Carry the expectations of a nation (or a company/family in a traders case) as Olympic sprinter Cathy Freeman did in 2000 by "tuning in" and staying focused on the task at hand. You dont have to play sports to understand the principles behind this unique trading guide. All you need is the desire to put yourself in the best possible position to win.
From the Back Cover
"The best traders in the world know that being mentally prepared is absolutely essential to compete in todays markets. Without a firm understanding of the psychology of trading, even the best stock picker will fail. The Trading Athlete gives specific instruction on how new and seasoned traders can keep themselves at the top of their mental game."Tim Bourquin, Cofounder, TraderInterivews.com and The Online Trading Expo
"This book is a great training camp for online traders. Doug and Shane will provide the knowledge and motivation to help you become a successful trader."Jonathan Markowitz, Partner, SMW Trading Co., Inc.
Traders, just like athletes, face tremendous pressure, stress, and expectations that would crush the ordinary, unprepared individual. The Trading Athlete utilizes sport psychology strategies to provide you with the knowledge, confidence, and discipline needed to succeed and profit in the sink-or-swim world of online trading.
Using real-world examples of athletes and online traders, this book will help you reach the peak of your online trading performance with in-depth analysis of:
- Building confidence in good times and bad
- Handling losses by examining your methods
- Focusing and maintaining concentration
- Playing the game one trade at a time
Through sport psychology strategies exemplified by John Elway, Arthur Ashe, and other athletes, you will finally begin to trade and survive in the big leagues.
Top customer reviews
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The authors, a sports psychologist and online trader (with prior trading experience at the CME and CBOT, and currently a trading coach) have produced a clearly written, easy-to-read book that supplements books by Dr. Alexander Elder, Ari Kiev, and Mark Douglas among the best books on trading psychology.
The major subjects covered in this book include:
- Mental keys
-Confidence building and dealing with failure
-How to handle losses
-Replacing negative thinking with productivity
-Why trading for revenge is a disaster
-How to overcome fear and prevent panic
-How to concentrate
-Enjoying your success
Each chapter is sprinkled with appropriate quotes that bring home the key points.
The Trading Athlete provides a self-evaluation form covering: goal setting, confidence, positive trading attitude, energizing, anger management, pressure, concentration, and flow. It also provides actual relaxation strategies to reduce stress
Also included in an appendix is a summary of the key points (4-10 or more) of each chapter. There are also very useful worksheets that can be used to record your own mission statement including your strengths, weaknesses, and goals. Additional worksheets are provided for recording your trading rules, goals for the week, month and year with checklists to determine if you are meeting them. Another worksheet covers a weekly performance log for recording each trade, its outcome and your comments about it.
In summary, the Trading Athlete, if read carefully and if you use the worksheets provided, will provide you with a solid foundation for understanding yourself and conquering your trading fears and inadequacies. Ultimately your trading should improve for the better. This book is an excellent resource for all traders. I highly recommend this book.
I have read numerous trading books in the past and many business books. The Trading Athlete has probably the best information on goal setting I have ever come across. It is very specific and makes sure that the goals you set are actually achievable.
The notion of performance cues is very helpful and definitely brings you back into the zone. The reference to various sports in the book (basketball, baseball, golf and others) actually helps you appreciate and understand trading to a higher level. With trading you need a strategy and an approach. This book will help you fine-tune your approach no matter what level of experience you have, highly recommended.
Most recent customer reviews
easy reading, and recommended.