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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:
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.
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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
-Handling pressure
-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.
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