Nobody performs better under pressure. The reality is that pressure can wreck our decision-making, as well as our trading results. But there are things you can do so you can dominate the trading world without blowing your stack.
If you can pre-plan how you’ll respond to the pressures of being a trader, you’ll be more likely to excel. So don’t worry, we’ve got you covered!
In this episode, we’re joined by Dr. Hank Weisinger, a psychologist and two-time New York Times bestselling author who knows all about performing under pressure.
Dr. Hank shares his secrets on how to manage pressure dynamics and deal with negative emotions like depression and disappointment. He also gives us tips on how to develop positive emotions like confidence, optimism, tenacity, and enthusiasm.
And if you’re wondering how to interpret the message of your emotions and use them to your advantage, Dr. Hank’s got you covered there too!
So sit back, relax, and get ready to perform your best when it matters most!
Questions we discuss:
- When pressure is too intense, traders make serious mistakes. You’ve mentioned that there are 4 pressure dynamics that influence the intensity of whether someone feels like they’re under pressure. Tell us about these 4 dynamics.
- No one can perform optimally when they’re experiencing depression, dejection, and disappointment. What should traders do if they find themselves in the grip of these emotions?
- Traders often put an awful amount of pressure on each individual trade, rather than just considering it as one data point among a thousand data points. They put themselves on alert 24 hours a day. What would your advice be for traders here?
- Confidence, optimism, tenacity, and enthusiasm elevate performance. How can you develop and use these emotions?
- You’ve told me that all emotions are represented by 3 components – cognition, physical arousal, and actions. Can you tell me more about this and how we can get these emotions working together for us?
0:03:13 – The Four Components of Pressure: Importance, Uncertainty, Fear of Consequences, and Responsibility
0:07:53 – How to Overcome Negative Emotions in Trading: Strategies for Pressure Reduction
0:11:10 – Intensifying Physiological Arousal and Strategies for Down-Regulating Stress for Traders
0:16:59 – Managing Emotions in Trading
0:20:09 – Productively Using Anger and Understanding Emotions
0:21:50 – The Power of Positive Self-Talk for Traders
0:23:41 – Exploring Criticism
0:27:12 – Strategies for Improving Trading Performance
About Dr Hank Weisinger
Hank Weisinger, Ph.D. is a celebrated and influential psychologist who has authored several successful books.
Trained in clinical counselling and organisational psychology, Dr. Weisinger is an expert in anger management, emotional intelligence and has consulted and conducted workshops with dozens of Fortune 500 Companies, government agencies, and professional organizations.
He has taught in numerous business school executive education programs and executive MBA programs and has also authored articles for The Wall Street Journal and TV Guide.
His methods are uniquely specific and practical and can help you regulate your emotions as a trader. His book Performing Under Pressure: The Science of Doing Your Best When it Matters Most is a ‘must read’ for traders.
About Louise Bedford
Louise Bedford is a highly accomplished and experienced trader, educator, and author, with over 30 years of experience in the financial markets. She is the co-founder of The Trading Game, and is known for her unique approach to teaching trading psychology and market analysis.
Louise has authored several successful trading books, including Trading Secrets, Charting Secrets, and The Secret of Candlestick Charting. She is also a regular contributor to Ausbiz, the Your Trading Edge magazine, and is the host of the Master Your Trading Mind Hub at IG Markets Australia.
To get in touch with Louise