The Mental Game of Trading: A System for Solving Problems with Greed, Fear, Anger, Confidence, and Discipline

by: Jared Tendler (0)

A step-by-step system for mastering trading psychology.Think about your most costly and recurring trading mistakes. Chances are that they’re related to common errors, such as chasing price, cutting winners short, forcing mediocre trades, and overtrading. You’ve likely tried to fix these errors by improving your technical skills, and yet they persist. That’s because the real source of these mistakes is not technical—they actually stem from greed, fear, anger, or problems with confidence and discipline.If you are like most traders, you probably overlook or misunderstand mental and emotional obstacles. Or worse, you might think you know how to manage them, but you don’t, and end up losing control at the worst possible time. You’re leaving too much money on the table, which will either prevent you from being profitable or realizing your potential.While many trading psychology books offer sound advice, they don’t show you how to do the necessary work. That’s why you haven’t solved the problems hurting your performance. With straight talk and practical solutions, Jared Tendler brings a new voice to trading psychology. In The Mental Game of Trading, he busts myths about emotions, greed, and discipline, and shows you how to look past the obvious to identify the real reasons you’re struggling.This book is different from anything else on the market. You’ll get a step-by-step system for discovering the cause of your problems and eliminating them once and for all. And through real stories of traders from around the world who have successfully used Tendler’s system, you’ll learn how to tackle your problems, improve your day-to-day performance, and increase your profits.Whether you’re an independent or institutional trader, and regardless of whether you trade equities, forex, or cryptocurrencies, you can use this system to improve your decision-making and execution. Finally, you have a way to reach your potential as a trader. Now’s the time to make it happen.

The Reviews

Trading is about controlling emotions. This book talks about all the emotional mistakes people make and the fix. Highly recommend if you want to do good in trading.

Advanced Psycotrading.

First off, I have read this whole book and am working through a major hurdle in my trading with some significant positive results.It is important to visit Jared's website (jaredtendler daught com) and download (for free) every single worksheet he has. You will need them at some point. The cool thing is that they are pdf copies so you can print them out, or make copies of the pdf files and fill them out on your computer. These worksheets make life much easier on working through the areas you need to work on.I also must say, this is by far not my 1st personal psychology book. I can't say I've read and worked through every single one written because there have been countless books writtem. Some are really bad (Left Brain Trading by Lewis Evans is the first to come to mind).Some are considered the “holy grail” for personal psychology (Trading In The Zone by Mark Douglas is the first to come to mind), but fail to actually guide you step by step on how to change your psychology.Others are far too dry and clinical (a majority of the trading psychology books) and those don't really share how to change step by step.This book is written in a manner that any common trader can understand, AND put what you've learned into real life practice. It will take time, and will require considerable repetition over time in order to change some of your psychological hang ups. But you will learn a repeatable system to work through just about anything you can imagine.Here is another powerful thing about this book . . . what you think is holding you back is almost certainly not what's holding you back. You will learn to dig through your issues, layer by layer and find what is holding you back, and then you'll know how to work through it.Look, being a successful trader over the long run is absolutely no different than being a top athlete. You can't just dabble in this like a weekend warrior and be one of the best traders over the long haul. Think about it. You are going against the best of the best and they have teams of people in the back ground helping them work through their hang ups. The top traders hire the best to work with them one on one to help them through their hang ups. Most of us don't have the money to have that luxury.Learn the system that this book teaches you. Use the worksheets that you downloaded for free from Jared's website. Work the psychology system this book teaches you every single day, diligently and honestly. Your trading will turn around and you will start to have the trading results you desire. But you must work on yourself consistently.Purchase the book. You'll be glad you did, because it is the best book out there on personal trading psychology.

very helpful book

Listened to it on Audible and then went out and bought the book - really good at showing you what you are doing and helping you recognize it.

Highly recommended if only for the way it reframed how I think about my trading, how I view myself, and for the gift of seeing myself, my behaviors, and my emotions described on every page.The easiest (and probably most accurate) way for me to review this book is by allowing it to speak for itself with two quotes. The first describes my experience trading: "Trading is a unique test that can bring out your deepest fears, unresolved rage, and personal insecurities. These problems directly affect your execution and profitability, compelling you to take on too much risk, lock up profit prematurely, or chase losses, but they have nothing to do with trading."The second quote sums up the potential the process suggested by and detailed in the book holds for me: "I liken the process to chopping down a tree. You may want a chainsaw, but you get an ax. For some of you, the tree is large, you're weak, and the ax has a blunt edge. Over time, as you work the process, you get stronger, and learn how to sharpen your ax. Just like becoming a skilled trader, you have to put in a lot of work. There's no other way."To accurately review this book I'd need to do more than read it, I'd need to work it, which is exactly what I intend to begin doing. Just as trading offers the allure of quick riches, the reality is very different. And just as understanding mental game problems can be as easy as reading a book, addressing my mental habits to create effective and lasting change can take monumental effort. I suspect that finally I've been offered a map towards resolution that with diligent focus and a light touch will allow me to progress towards my goals and away from the nightmares that regularly sink me.I'll re-review once I've travelled down the path some.

This book is great not only for traders but for real world experiences.

After reading many other books on the topic and studying trading psychology for a few years, I can only say that Jared's book offered a FRESH view of what this is, a mental game. Something that is not fixed and that can be corrected in real-time with a process and a solid system. If you have been looking to up your game in trading, do not think it twice and get this book. Kudos man, awesome work!

Since I am not a professional trader my opinion on this book is probably of limited value. Forewarned, my thoughts on this book:The intended audience for this book seems to be professional traders who, somehow, already know they have an advantage in the market and are looking to up their profitability even more. Professional does not necessarily mean it is their only job but all the examples in this book are from people who are full time traders. The author does not spend any time on discussing why, theoretically, it should be possible that anybody is able to beat the markets consistently or what traits those who can tend to have. Also, beyond the psychology of it all, there is no serious discussion of what elements a trading plan should include. The author assumes the reader already has these things in place. Nevertheless Tendler is quite familiar with trading concepts such that he can discuss specific factors affecting the psychology of it all while staying down to earth.Indeed, the book's greatest strength is the balance it strikes between theory, real life examples, concrete action plans and nitty-gritty details. The author never talks about problems traders tend to run into without also discussing very specific plans for how to deal with them. This typically involves what specifically to write down in your analysis or, less frequently, other concrete things to do, e.g. if such and such is a problem set up automatic reminders to do some kind of analysis or force yourself to take breaks throughout the day.One way in which this book is different from other books is to emphasize that traders, almost by definition, are fiercely competitive and can often be too hard on themselves as they hold unrealistic ideas about the attainability of perfection and ignore that there are factors beyond their control. For example, they might kick themselves for not reading an article that popped up during the day that could have helped them avoid a loss or score a gain on some trade. This, of course, is not realistic. Time is finite, so you cannot read everything. Given that, missing a key article is inevitable from time to time. Tendler's whole approach is to look at a trader's persistent problems and identify what irrational thoughts are causing them and then go on to make a very concrete plan on how to limit the problems.Tendler's approach seems like something which should work providing that the reader really does have an edge in the market. For those who have played poker much of what happens in trading and the problems that arise will seem almost completely identical. Although I have not read Tendler's books on poker, I have played the game and would be very surprised if the poker books were not nearly identical. In poker it is easier to develop a model on what the course of events would look like even if you had an edge. There would still be big losses, mistakes which seemed obvious in retrospect, and long losing strikes. In blackjack it would be even easier to model since the precise edge for card counters is known and still subject to the same "issues" affecting one's psychology while playing. Given a mathematical advantage it is all fairly straightforward to have a mental model of. On the flip side, without a mathematical advantage no amount of psychology is going to change reality and thinking that psychology could help will probably make matters worse. It is completely the reader's responsibility to determine whether they really have an edge or not.Overall, I found the book to be logical, have specific actions plans and I think that the emphasis that often the problem is that you are too hard on yourself as opposed to not being hard enough is a key theme not yet common.I am guessing that the author's decision to leave out topics of why it is reasonable to think anyone should have an edge in the market (i.e. the efficient market hypothesis is wrong) and what traits such people have is due to thinking it would not really add any value. Perhaps, he thought, due to confirmation basis everyone will see such traits in themselves whether they really have them or not. This may be somewhat true, but if the intended audience is professional traders who do have an edge, it seems logical that they are less prone to confirmation bias than others and, as such, could realistically evaluate how well they score on the requisite traits and know where they needed to work.Finally, Tendler emphasizes tracking one's emotions with the ultimate goal of setting up a "distant early warning system" (my phrase not his) of pending blowups. The ultimate goal is not only to detect pending disasters early, avoid them, but also to lessen these emotions once they are too strong. I agree with this plan but my own feeling is that emotions should be tracked for another reason that has to do with how similar trading is to poker. There is a small hint at a key similarity between poker and trading in this book, but no elaboration.I would like to rate the book 4.5 but the 5 point scale forces me to choose, so I round up: the parts that are missing do not take away from the core themes although I do think they would have been helpful to include.

Clear, practical system and written exercises for reducing and eliminating psychological mistakes. My trading has improved drastically since I started doing the written exercises. IMO, one of the best trading books on the market. I have recommended this book to all of my trading buddies, many of whom have bought the book.

15+ years of experience with lots of investment/trading books but my struggle was 90% in the psychology part. Couldn't find a book that can help make the transition in a step-by-step way. This book does exactly that. I made a really big shift.

This is hands down one of the best trading psychology books out there. It is, if not the most, one of the most practical trading psychology books I’ve ever read.I have read it already 3-4 times and am currently reading and studying it again, taking my time to really digest and process it. I have already seen improvement in my trading. Do yourself a favor and order it right now, you won’t regret it at all.

Trading is about controlling emotions. This book talks about all the emotional mistakes people make and the fix. Highly recommend if you want to do good in trading.

This book will incrementally advance into the psych behind trading, why we sabotage ourselves, and how make solid trading decisions while helping to improve our way of thinking. Can’t recommend enough.

cost is high for no more than it is but in price range of others like it

I just got a new HP Elite Book laptop from work. The laptop only has two USB ports and one HDMI port, so I needed to expand these ports for two 1080P monitors and at least three USB connected devices. From the moment I plugged in this USB C-Hub, it never worked properly. When both monitors are plugged in, they blink in and out frequently. My USB Mouse does not work properly either when plugged into the hub. I had to plug one monitor into the laptop HDMI port, and I plugged the mouse directly into one of the laptop ports for it to work properly. I tried plugging-in the power source directly into the Hub and using the hub to power the laptop, but that did not make a difference.

Love it works great on my sager gaming laptop and also works well on any tablets!

I bought this to hook up two monitors to a laptop. The monitors had hdmi connectors. This product worked perfectly. I didn't use it as a power source because of other reviews. The only problem I've had is that one day out of the blue I received a message that it was malfunctioning. I had to unplug a couple of times to get the message to go away. Otherwise it works great.

The HDTI and the VGA do not split the monitor feed - so you really only get one monitor plug - other than that - it is fast and small

I have HDMI monitor, one USB keyboard, one USB mouse connected to the Hub deriving charge from an anger USBC adapter. The PC laptop wouldn't show charging but MacBook pro does. I first tested the PC laptop without the hub to make sure its USBC does charge and shows charging, so problem is isolated to the Hub itself. But the description says it is compatible with DELL.

I bought it as a docking station for my macbook pro, after 1 week of use the usb c cover came off, when I sent a message to the seller, they asked me to discard the dongle ( waste of money). instead they wanted me to buy another one of their broken product for a 15% discount. ( the audacity of their message was so insulting)

Love It!

Ordered my first Suncala PS2 wired controller on June 28th (2022), it shipped the same day. Item received, packaging was pristine, but the R2 button was jammed in on one side, could not work it loose, controller was useless (FFXII, continuous Flee anyone?). Returned for replacement, the 2nd controller shipped immediately, received in pristine condition, controller was functional this time. However, I noticed that when I accessed the menu and scrolled down the list, it would jump to another menu, and I'd have to physically go back to the menu I was in. That was an issue I felt I could deal with, it didn't happen all the time, so I did nothing. Besides that the controller was otherwise functional (nice controller by the way). Now, however, the left controller post is exhibiting weird behaviour. With me not even touching the post, the main character appears as if he/she has Tourette's Syndrome. They'll turn to the side, move forward minutely, start walking briefly, move minutely from side to side. I thought I could deal with that, it didn't happen all the time, and it seemed manageable. But it's gotten worse. Now, it happens regularly and I have to nudge the post for it to stop. So I've ordered a 3rd Suncala controller in hopes that these issues will not be present in a new one. 3rd time's a charm, right? My fingers are crossed.Edit: Controller arrived yesterday (09-09-22), pressed it into service immediately. So far this controller is fully functional with no odd snafus. I like that it feels about as close to a Sony controller as you might hope. Buttons are kind of clicky, but for $10 what can you expect? I'll update this again if there are any issues.Edit: 11-01-22 Left post had been acting a little weird for awhile but it was nothing serious. Just a few days ago the right post started acting wonky: Jerky movements, Tourette's Syndrome-like behaviour. The last couple of days, my character has had a hard time running because the post is steadily trying to do something else. This morning I could hardly get the character to run at all, at first. And the menu screen is starting to jump menus again. This is ridiculous. If I can't depend on my controller, what's the point in buying it? I'm really irritated. I hate to spend $80 to $100 (or more) for a brand new OEM Sony controller but I'm afraid I may have to consider it.

This controller feels as good as a brand-new PS2 controller! Maybe even better :OOFor $9-10, its more than worth it! Used PS2 controllers run $20 or more; get this instead! Its higher quality, cheaper, and will probably last just as long. I'm recommending these to all my friends, and all of you reading this review.10/10

Good controller. Not sure if pressure sensitivity works properly but the buttons are slightly more raised than a regular dual shock and feel solid to press (more clicky than a soft push button) which feels more responsive. Works perfect on my fat PS2 for Need for Speed UG2. Sticks also have smooth movement. For the price, I would have bought 2 having only used it for about 2 hours. Good price good product 10/10

A fairly decent controller for the price the controllers cord length is shorter than a stock dualshock 2 and for some reason though the x button would not work as throttle in need for speed underground but works otherwise for all other stuff in that game and others. The texture of the controller is really nice and the buttons have good feedback the analog controls seem fine and do not have any drift so overall the controller is great for the price I wish the cord would have been the same length as the dualshock 2 if not a little longer.

Thought it would be a cheap knockoff at first, turns out it works great and feels like an original PS2 controller. Still going strong to this day. Would recommend for those looking for a replacement controller.

Yes, I gave it 5 starts. I bought this because it was relatively cheap and I needed a new one after getting frustrated with Tiger Woods 2008. The controller fits fine into the slot, cord length seems to be pretty standard, no issues there. I mean, if you're expecting a 20' cord this isn't it. The only thing I would change is that the buttons seem to be a little mushy. There's not much of a click to it, even though you can press the button. Since I wasn't expecting much and considering the price of the product, excellent buy for your money. Would buy again.

Feels better than most official Sony controllers I've owned, and I've owned dozens. Sony has never had good consistency in their controllers, and I always seem to get stuck with the mushiest crap they can manufacture. Buttons are all responsive and unambiguous, so that's better than at least 92% of the official Sony controllers I've ever used. There's a lot of travel in the shoulder buttons, but considering their easy response, it makes them feel more satisfying to me.The only thing I did not test was analog response on the buttons themselves in PS2 games that support it, but even if the input is all digital, I'd still prefer this over almost any official PS2 controller I've ever owned.

El materia es bueno, las vibraciĂłn es como el original. Hasta el momento creo que fue una buena compra, ya habĂ­a comprado otro de una maraca distintas a esta, y no duro una semana, pero este fue una excelente compra.

The Mental Game of Trading: A System for Solving Problems with Greed, Fear, Anger, Confidence, and Discipline
⭐ 4.8 💛 310
kindle: $35.94
paperback: $33.13
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