The Education of a Trader: Trading on Tilt

qandQ

Our friends at Tradeciety.com asked:

How do you deal with emotions in your daily trading? What are your tips and suggestions that help you avoid, if possible, making emotional and psychologically caused trading mistakes.

@MikeBellafiore

Trading on tilt is the 800 pound gorilla on every trading station.  On our desk today there were a few desk slams in this $FB, Facebook, as it changed direction as fast and frequently as an NFL running back. Managing your emotions as a trader is well…..manageable.

In this video, I outline ways to help manage your emotions:

  • Taking notes actively while trading in a journal
  • Focusing on improving everyday and not your PnL
  • Developing outside interests so trading is not central to your self-worth
  • Visualization exercises so you are not as hot as often for so long or as frequent
  • Visualization Guide by Bruce Bower
  • Taking a walk to cool down for 10 minutes
  • As Dr. Steenbarger suggests, measuring your heart rate while trading

I hope this video helps you manage your emotions more effectively as a trader.

And I ask our trading community, what tips do you suggest for managing your emotions while trading?

*no relevant positions

 

bruce bower peak performance

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