Replace 2 years of trading psychology experience with these 6 videos.
One of the biggest gaps in the trading community is the lack of knowledge about trading psychology. This aspect of trading often gets overlooked, but it’s incredibly important. Trading psychology refers to the emotions and mental states that play a huge role in determining whether you succeed or fail when trading securities. It’s not just about knowing the market; it’s about understanding yourself, managing your emotions, and staying mentally strong. Without this knowledge, even the best strategies can fall apart.
“If you know the enemy and know yourself, you need not fear the result of a hundred battles.” — Sun Tzu
1 — Richard St. John: “Success is a Continuous journey”
In his characteristically candid style, Richard St. John reminds us that success is not a one-way street but a continuous journey. He shares the story of his business’s rise and fall to highlight a valuable lesson: when we stop striving, we fail.
2 — Dan Gilbert: “Why we make bad decisions”
Dan Gilbert presents his research on happiness, sharing some surprising tests and experiments that you can try yourself. He explains why people tend to make the wrong decisions, illustrating two kinds of errors we make in our everyday decision-making: our poor estimation of the odds of success and our poor estimation of the value of success.
3 — Kelly McGonigal: “How to make stress your friend”
Stress. It gets your heart racing, accelerates your breathing, and makes your forehead sweat. But while stress is often seen as a health hazard, new research suggests it’s only detrimental if you perceive it that way. Psychologist Kelly McGonigal encourages us to view stress positively and introduces an intriguing method for reducing it: connecting with others.
4 — Barry Schwartz: “The paradox of choice”
Psychologist Barry Schwartz takes aim at one of the central dogmas of Western society: freedom of choice. Schwartz argues that he believes choice has made us less free and more paralyzed, leaving us more dissatisfied rather than happier.
5 — Eduardo Briceno: “The Power of belief – mindset and success”
Our understanding of intelligence and abilities profoundly shapes our path to success. Eduardo Briceño argues that our mindset — whether we perceive our capabilities as fixed or adaptable — is pivotal. Believing our abilities are innate or restricted to specific domains can discourage us from tackling challenges and diminish our motivation during tough times. Conversely, embracing the idea that skills can be developed fosters behaviors such as deliberate practice and resilience, which are essential for achieving sustained success. Cultivating a growth mindset actively empowers us to maximize our potential and that of others.
6 — Hicham Benjelloun: “The mindset of a trader”
Hicham Benjelloun is a leading expert in finance, with a PhD in finance from the University of North Texas. Mutual fund managers have widely praised and valued his PhD thesis on stock market portfolio diversification.
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