Successful efforts to master markets lead us down paths of self-mastery. This book is one guide to those paths. Market participants have traditionally defined self-mastery as discipline—controlling the emotions that all too often distort information processing and trigger impulsive behavior. To be sure, discipline is required for any great undertaking, whether it is pursuing an Olympic medal, a business startup, or a medical breakthrough. But discipline, while necessary for success, is never sufficient. Discipline does not substitute for skill, talent, and insight. Strict, disciplined adherence to mediocre plans can only lock in mediocre results. If it were otherwise, there would be no losing automated trading systems. I’ve followed and traded markets since the late 1970s. During the past decade, I have served as a full-time performance coach at two trading firms—Kingstree Trading in Chicago and Tudor Investment Corp. in Greenwich, Connecticut—and worked with many other trading organizations on a consultative basis. Through the TraderFeed blog and three prior trading books, I’ve had the honor of interacting with thousands of traders around the world. If there’s one thing this whirlwind of experience has taught me, it’s that there is far more to market mastery than controlling emotions and impulses. Sustained success requires the cultivation of a host of positive performance elements: creativity, productivity, adaptation to change, and psychological well-being. The good news is that recent research in psychology and related fields
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.