The Mental Game of Trading (Jared Tendler)

Trader's Library #21 · Trading psychology. A user's manual for your own emotions at the screen, with a method instead of platitudes.

Author: Jared Tendler · Original: The Mental Game of Trading · Year: 2021 · Usefulness for traders: ★★★★★

What it's about

A book by a coach who worked first with professional poker players and then with traders. He systematically breaks down five problems: greed, fear, anger (tilt), confidence and discipline.

What it gives a trader

The most practical psychology book in this set. Tendler doesn't say “control your emotions”; he teaches you to map them on a scale from mild to extreme, look for the cause (usually a flaw in knowledge or beliefs) and prepare a response before the emotion takes the wheel. It fits a trading journal perfectly.

Lessons for traders

• an emotion is a signal of a problem, not the problem itself
• tilt has levels: react at the first, not the last
• write down your triggers and reactions: it's a map of your weaknesses
• the urge to win it back is a classic trap (the break-even effect, Atlas of biases #38)

What to watch out for

It requires work, not just reading. Without taking notes, the book gives you little.

Discussion

The discussion takes place in Hetman Capital Club (in Polish). Join the discussion in the Club →

Navigation

← #020 Trading in the Zone (Mark Douglas) · Library index · #022 Best Loser Wins (Tom Hougaard) →

Educational content, not investment advice. The book description is my own summary and assessment, not quotations. Edition details were checked in catalogues and bookshops, and where there was doubt I said so plainly.