Guide to Emotional Management - Brian McAboy
From: Brian McAboy, Trader, Engineer
Featured on the Chicago Board of Trade
Dear Trader,
As you've already experienced, emotions can be very powerful while trading and cause many mistakes in trading that result in losses, often substantial losses - or missed profits.
Here are two common scenarios. See which sounds closest to your situation.
The Emotionally Congruent Trader
Calm
Confident
Relaxed
At Peace
Patient
Comfortably disciplined
Consistent
Keeps losses small
Ready
Takes sizable profits when there
Gets in on the good trades
Sticks to risk management rules
Plans every trade
Enjoyment
Validation
| The Trader in Conflict
Anxious
Fearful
Stressed
Frustrated
Over trades
Struggles with discipline
Inconsistent
Suffers large losses
Hesistant
Watches profits disappear
Misses out on profits
Takes too large of trades
Trades without plan
Guilt
Regret
|
You are about to discover a very straightforward guide on how to trade with your emotions. They are part of who you are, so you can either fight them or try to shut them down, OR you can acknowledge them, learn how to work with them and have your emotions be your trusted friend in your trading and have them serve you well.
This guide is intended to give you conscious actions to take to deal with the subconscious factors that create the emotional conflict in your trading, and prevent you from trading at your best.
How this guide works:
At the beginning of the guide, there is background on the various psychological schools of thought, so that you can include your own insights into yourself and the challenges at hand. Included also here is general discussion of how to listen to your emotions to see what they are telling you.
Next comes the analysis of the specific mistakes that occur in trading.
I have identified over 40 specific mistakes that traders make, both from my own experience and from others. For each of those mistakes, the emotions that are coming into play are identified that cause them. From there, the sources of those emotions are analyzed. Lastly and most importantly, I've laid out specific steps that you can take to alleviate those feelings, calm them down and minimize or eliminate the likelihood of that mistake re-occuring.
For more details, click on the following link to take you through to Brian McAboy's website (with US $). Click Here Now |
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