This is a guest post Jared Tendler.
I’m excited to share with you very interesting results from a survey I conducted to learn more about how traders view psychology and emotions in trading. There was a huge turnout, thanks to participation from eight trading communities representing a wide range of traders.
The results I’m about to share with you remained the same regardless of age, gender or geography.
Here’s what we found:
- 96% of traders believe emotions can negatively affect your trading decisions.
- 91% are able to recognize when emotions like fear, greed, anger, overconfidence and lacking confidence impact your performance.
- But, only 34% have a system in place to manage those emotions.
My first reaction to seeing these numbers was surprise. It’s remarkable how many traders are aware of the impact that emotions have on their results and can see their emotions having an effect in real-time. That speaks volumes to the many trading professionals, Steve Burns included, who have promoted trading psychology as a vital part of being a successful trader.
My second reaction to these numbers was resolve. 57% of traders can recognize when emotions affect their results but lack a strategy to manage their emotions – that has to change.
For those of you out there, I am the guy to help. I’ve spent the last 16 years developing a system that is straightforward and easy to apply. If you’re new to my work, I highly recommend you check out my website where you can download worksheets and a new “Quick Guide” to my system for trading psychology. All of these materials are a companion to my book, The Mental Game of Trading, which provides solutions to problems with greed, fear, anger, confidence and discipline.
I know that dealing with your emotions can be overwhelming at times. But learning how to handle them is a skill like any other. Take it one step at a time and before you know it you’ll be on the right side of those stats.
Results of Trading Industry Survey by Jared Tendler
About the Author
Jared Tendler, MS, LMHC, is a leading expert in how your mental game impacts performance. His roster of clients spans 45 countries and includes esports athletes, financial traders, some of the top poker players in the world, a top ranked pool player, and several PGA Tour players.