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Trading psychology and Trader Performance

Pro­fes­sor, trader and author Brett Steen­barger, one of the main experts on Trad­ing psy­chol­ogy and Trader Per­for­mance (see our inter­view with him here), just announced he will speak at a Free Inter­ac­tive Webi­nar on Trader Performance

  • Dur­ing the Webi­nar, I will sum­ma­rize and elab­o­rate basic ideas from my book and also intro­duce new ideas devel­oped and applied since the book’s pub­li­ca­tion. A unique fea­ture of the ses­sion will be a par­tic­i­pant Q&A mod­er­ated by Steve.” (Steven Buss, a mem­ber of the NeoTicker forum)

He recently wrote a great post on My Favorite Tech­niques for Over­com­ing Per­for­mance Anx­i­ety in Trad­ing, includ­ing a won­der­ful tech­nique (see arti­cle to read the full description)

  • Of late, I’ve been mak­ing use of heart rate vari­abil­ity feed­back through the Freeze-Framer pro­gram, which offers a nice graph­i­cal inter­face to help users track their progress and visu­ally deter­mine whether or not they’re in “the zone”.
  • Once the trader becomes adept at this, I then add a sec­ond com­po­nent to the exer­cise: The trader must vividly visu­al­ize a mildly anxiety-producing trad­ing sit­u­a­tion while hooked up to the biofeed­back and main­tain­ing the calm focus. Once the trader can repeat­edly visu­al­ize this low-anxiety sit­u­a­tion and sus­tain “the zone” on the biofeed­back read­out, we then move to a sec­ond, higher-level anx­i­ety sce­nario. Often it’s help­ful to…”

You can learn more about Enhanc­ing Trader Per­for­mance and The Psy­chol­ogy of Trad­ing: Inter­view with Brett N. Steen­barger. Some key take-aways from our interview:

  • Elite per­form­ers in any highly-competitive field fol­low struc­tured learn­ing and train­ing processes to develop their skills, ensur­ing con­tin­u­ous feed­back and refinement.
  • Traders would ben­e­fit to fol­low­ing this exam­ple. Tools at their dis­posal include books, sim­u­la­tion pro­grams, biofeed­back pro­grams for emo­tional man­age­ment, and coaches.
  • Spe­cific skills to train are brain speed and work­ing mem­ory (for short-term traders), ana­lyt­i­cal skills (long-term
  • ones). For both, man­ag­ing emotional-driven impul­sive behavior.

Here you have a related post on Best prac­tice for top trad­ing per­for­mance: biofeed­back, and here a visual exam­ple of Emo­tional self-regulation through biofeed­back.

Finally, a reminder that the Freeze-Framer sys­tem is now called emWave.

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