The mental strategies of top traders : the psychological determinants of trading success

書誌事項

The mental strategies of top traders : the psychological determinants of trading success

Ari Kiev

J. Wiley, c2010

  • : [hbk.]

タイトル別名

Wiley trading series

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注記

"The Wiley trading series feature books by traders …"--Added t.p. verso

Includes index

内容説明・目次

内容説明

An honest depiction of the challenges of trading and a clear explanation of what it takes to succeed Trading tends to be a winner-take-all activity where a small number of traders are very successful, while the majority either lose money or generate relatively small profits. In The Mental Strategies of Top Traders, author Ari Kiev identifies and analyzes the characteristics of successful traders and shows you how to cultivate these same characteristics. Successful trading, Kiev asserts, requires an unusual and sometimes contradictory blend of intellectual and psychological abilities, including the willingness to take risks, but in a very controlled manner; the discipline to develop high-conviction trading ideas in the face of unpredictable markets and incomplete information; as well as a strong drive to win, but also accept failure. Here, you'll discover how to achieve all this, and much more. Provides advice and solutions for traders struggling with today's volatile and stressful markets Authoritatively identifies key mental strategies of top traders Written by Ari Kiev, a highly respected figure in the professional trading community Analysis is supported by comments from contemporary traders and portfolio managers, many of whom struggled with the markets of 2008 Designed with the serious trader in mind, this book will put you in a better position to excel in today's tumultuous markets.

目次

Acknowledgments xi Introduction 1 CHAPTER 1 Intellect, Instinct, and Guts: Understanding the Psychological Profile 7 A History of Success 14 The Ability to Take Risk 15 Creativity and Originality 16 Self-Awareness, Self-Control, and Resilience 17 Teaching Traders Self-Assessment and Self-Control 18 Teamwork and Leadership 19 Putting It All Together 21 Case Study on Finding the Right Candidate 21 Job Requirements 21 Potential Candidates 22 The Bottom Line 25 The Perfect Candidate? 26 Chapter in Review 27 CHAPTER 2 Planning for Action: The Importance of Goal-Directedness 29 Making a Plan 30 Case Study on Setting a Goal 31 Case Study on Having a Variant Perception 35 Personality Factors and Goal-Setting 42 Recognizing Goal-Directed Individuals 44 Case Study on Recognizing Goal-Directedness 47 Fred's Strengths: The Three Cs 47 Fred's Weaknesses: The Three Is 48 Goal-Directedness in Turbulent Times 50 Own Your Stuff 51 Review the Game Films 51 Switch Gears? 52 Be Realistic 52 Stay True to Your Strengths 52 Maintain Focus 53 Chapter in Review 54 CHAPTER 3 ''Fire in the Belly'': The Ability to Take Appropriate Risk 57 A Picture of Successful Risk Management 57 Trading Philosophy 59 Handling Drawdowns 59 Head versus Heart 60 Reviewing Risk Statistics 60 Examining Personality Factors 63 Learning to Upgrade Your Performance 71 Chapter in Review 77 CHAPTER 4 Thinking Outside the Box: The Importance of Ingenuity 79 Case Study on the Satisfaction of Creative Thinking 80 The Strategic Thinker 81 Case Study on Learning to Be Creative 82 Idea Construction 88 Developing a Variant Perception 88 Case Study on Creative Thinking 89 Idea Evaluation Checklist 92 Defining Expectational Analysis 94 Case Study on Knowing the Business 95 Case Study on Expectational Analysis 100 Raising Your Conviction 103 Idea Velocity 105 Idea Timing 105 Idea Completion 106 The Psychological Dimension 109 Case Study on Communicating Effectively 111 Chapter in Review 114 CHAPTER 5 Separating Emotions and Decisions: The Ability to Be Self-Aware 117 Case Study on the Emotion of Drawdowns 118 The Source of Fear 121 Case Study on Trading Stress 123 Self-Esteem and Self-Discipline 125 Learning from Drawdowns 128 Case Study on Self-Assessing During Drawdowns 129 Getting Comfortable with the Uncomfortable 131 Case Study on Being Comfortable with Discomfort 132 Teaching Traders Self-Assessment and Self-Control 136 Managing Stress Well 136 Chapter in Review 140 CHAPTER 6 Nurturing Team Players: Listening, Learning, and Working Together 143 Characteristics of a Team Player 144 Responsible 144 Positive and Encouraging 145 Competitive 148 Coachable 149 Finding Complements to Your Team 151 Case Study on a Comparison of Traders 153 The Importance of Communication 155 Chapter in Review 159 CHAPTER 7 Leadership: Directing Success 161 Empowering a Culture of Change 162 Case Study on Creating a Culture of Change 162 Encouraging Responsibility 171 Case Study on the Challenges of Responsibility 173 Exploring Potential Leaders 176 Case Studies on Finding Potential Leaders 177 Endeavoring for Success 183 Case Study on a Failure to Lead 184 Chapter in Review 189 Index 191

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