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Mastering Trading Stress
Strategies for Maximizing Performance
Ari Kiev (Author)
9780470181683, Wiley
Hardback, published 11 January 2008
224 pages
23.6 x 16 x 2.4 cm, 0.404 kg
"…a welcome addition to Kiev’s other ground breaking trading books…one that experienced and novice traders will greatly benefit from." (Futures Magazine, August 2008) "One of the most fascinating aspects of most of Mr. Kiev's books is how attuned he is to the trading profession. His books -- and this one is no exception -- rely heavily on case studies and interviews with traders. Once could guess that the author is a trader himself based on the technical trading advise he gives his patients. ... Mr. Kiev always returns to the same fundamental theme. A trader cannot eliminate stress, but he can learn to cope with it. In fact, mastering stress is a requirement for success because the biggest mistakes are caused by stress and mismanaged emotions." (Accredited Investor magazine)
In Mastering Trading Stress, author Ari Kiev—a psychiatrist who specializes in stress management and works extensively with traders—offers examples, transcripts of conversations, and personality profiles of real-life traders to illustrate how stress affects their ability to perform at their best. Drawing on his vast experience, Kiev describes a variety of practical techniques that can be used to handle destructive emotions and out-of-control feelings, including his “Most Basic” stress busters, and tells what to do if a breakdown should occur.
Preface xi Acknowledgments xiii Introduction xv Chapter 1 The Nature of Stress: What is Stress and Why is It a Problem? 1 The Fight-or-Flight Alarm 2 Differences in Stress Responses 5 Personality Factors 7 The Stages of Stress 8 Taking It Step-by-Step 10 Chapter 2 The Emotions of Stress: What Negative Emotions are Experienced as a Result of Stress? 13 Fear and Greed 14 Guilt 21 Worry 23 Anger 24 Euphoria 27 Chapter 3 The Dangers of Trading under Stress: How Do Attempts to Handle Stress Create Problems for the Trader? 29 Trading Despite Stress 30 Avoiding the Stress 34 Creating a Social Persona 39 Competing to Win 44 Being Indecisive 51 Chapter 4 How Fear Inhibits Mastery: Can You Learn to Lessen the Central Emotion of Fear? 53 Responding to Fear 54 Disciplining for Success 55 Relinquishing the Need to Be Perfect 57 Maintaining Psychological Energy 59 Starting with a Clean Slate 62 Chapter 5 The Consequences of Negative Emotions 63 Greed and Risk Management Errors 64 The Difference between Confidence and Arrogance 70 Mistakes of Insecurity 71 Why Not to Avoid Negative Feelings 78 How Negative Emotions Lead to Impulsive Behavior 80 Chapter 6 Personalities and Stress 87 List Makers (Analytical Thinkers) 89 Intuitive Thinkers 92 Optimist/Pessimist/Realist 94 Are You Confident or Insecure? 96 Make the Most of Your Personality 97 A Winning Personality 98 Chapter 7 Ego and Obstinacy 101 A Stubborn Nature 102 Refusal to Accept Commands 105 Difficulty with Management 106 Chapter 8 Fear and Failure 111 Afraid to Win 112 Failing to Commit 115 Moving Forward 119 Chapter 9 Perfectionism and Paralysis 123 The Problem 124 Finding a Solution 124 What about You? 128 Chapter 10 Failing to Manage Risk 131 Risk Management for a Vision 132 The Psychology of Risk 136 The Importance of Self-Analysis 137 Asking the Right Questions 139 Assessing Your Attitude toward Risk 140 Looking for the Positive 142 Relaxation and Risk 143 Taking Responsibility 144 Chapter 11 Failure to Dig Deeper 147 Discerning the Importance of Data Analysis 149 Too Much or Not Enough? 151 Gathering the Information 152 Reducing Stress 155 Chapter 12 Failures in Shorting 159 Reluctance to Short Stocks 160 Stress and the Short Squeeze 162 Steps of a Good Short Seller 164 Chapter 13 Learning to Live with Stress 171 Learning to Observe 172 Creating New Life Principles 178 Reframing Negative Thoughts 179 Choosing an Objective 182 Defining New Priorities 183 Chapter 14 Exercises and Practical Applications 185 The Most Basic Stress Busters 187 What to Do When You Have a Breakdown 188 Importance of Commitment 196 Index 199
Subject Areas: Finance & accounting [KF]
