Saturday, March 27, 2010

Mental Toughness, Psychological Resilience, and Trading

* Resilience and courage in trading;

* What we can learn from NCAA upsets;

* Nice outline of what goes into mental toughness;

* Mental toughness and winning in sports;

* Top basketball coaches build mental toughness through drills;

* Factors underlying psychological resilience;

* Does physical challenge contribute to emotional resilience?

* Many ideas for building resilience in the military apply to trading;


Michel Lahaye said...

Hi Brett,

I'm a psychologist from Belgium and also a trader. I'm doing some interviews with traders and persons I like (Brian Shannon, Chris Perruna) and I would like to have a chance to interview you (Skype). Do you see an opportunity for this? Thanks a lot and keep up the good work!
Michel Lahaye

Purposeful Investor said...

I totally agree. That's why I try to ignore the news and media. I am a firm believer in the technical analysis philosophy. Last night we had some friends over for dinner, and we had the classic debate of fundamental analysis vs technical analysis. After they left, I felt compelled to post about it.

I believe technical analysis is the key to successful trading. It provides the discipline and structure. Try not to listen to the "experts" in the media. Simply look at the charts and see for yourself. Here's a great example. One morning, my wife was frustrated because she was waiting to check the local weather on the news to plan some event that day. I walked over to the window and pulled aside the curtains, lifted the blinds, and gave her my weather forecast ... looks like a beautiful sunny day

Gary Puntman said...

I would love to see what I can do to increase my mental toughness. I think it would be great to take some classes or read some books about this. I feel like developing mental toughness would be beneficial for a number of reasons.