{"product_id":"the-mental-strategies-of-top-traders-isbn-9780470509531","title":"The Mental Strategies of Top Traders","description":"\u003cp\u003eAn honest depiction of the challenges of trading and a clear explanation of what it takes to succeed\u003c\/p\u003e \u003cp\u003eTrading 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 \u003ci\u003eThe Mental Strategies of Top Traders\u003c\/i\u003e, author Ari Kiev identifies and analyzes the characteristics of successful traders and shows you how to cultivate these same characteristics.\u003c\/p\u003e \u003cp\u003eSuccessful 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.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eProvides advice and solutions for traders struggling with today's volatile and stressful markets\u003c\/li\u003e \u003cli\u003eAuthoritatively identifies key mental strategies of top traders\u003c\/li\u003e \u003cli\u003eWritten by Ari Kiev, a highly respected figure in the professional trading community\u003c\/li\u003e \u003cli\u003eAnalysis is supported by comments from contemporary traders and portfolio managers, many of whom struggled with the markets of 2008\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eDesigned with the serious trader in mind, this book will put you in a better position to excel in today's tumultuous markets.\u003c\/p\u003e \u003cp\u003eAcknowledgments xi\u003c\/p\u003e \u003cp\u003eIntroduction 1\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 Intellect, Instinct, and Guts: Understanding the Psychological Profile 7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA History of Success 14\u003c\/p\u003e \u003cp\u003eThe Ability to Take Risk 15\u003c\/p\u003e \u003cp\u003eCreativity and Originality 16\u003c\/p\u003e \u003cp\u003eSelf-Awareness, Self-Control, and Resilience 17\u003c\/p\u003e \u003cp\u003eTeaching Traders Self-Assessment and Self-Control 18\u003c\/p\u003e \u003cp\u003eTeamwork and Leadership 19\u003c\/p\u003e \u003cp\u003ePutting It All Together 21\u003c\/p\u003e \u003cp\u003eCase Study on Finding the Right Candidate 21\u003c\/p\u003e \u003cp\u003eJob Requirements 21\u003c\/p\u003e \u003cp\u003ePotential Candidates 22\u003c\/p\u003e \u003cp\u003eThe Bottom Line 25\u003c\/p\u003e \u003cp\u003eThe Perfect Candidate? 26\u003c\/p\u003e \u003cp\u003eChapter in Review 27\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 Planning for Action: The Importance of Goal-Directedness 29\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMaking a Plan 30\u003c\/p\u003e \u003cp\u003eCase Study on Setting a Goal 31\u003c\/p\u003e \u003cp\u003eCase Study on Having a Variant Perception 35\u003c\/p\u003e \u003cp\u003ePersonality Factors and Goal-Setting 42\u003c\/p\u003e \u003cp\u003eRecognizing Goal-Directed Individuals 44\u003c\/p\u003e \u003cp\u003eCase Study on Recognizing Goal-Directedness 47\u003c\/p\u003e \u003cp\u003eFred’s Strengths: The Three Cs 47\u003c\/p\u003e \u003cp\u003eFred’s Weaknesses: The Three Is 48\u003c\/p\u003e \u003cp\u003eGoal-Directedness in Turbulent Times 50\u003c\/p\u003e \u003cp\u003eOwn Your Stuff 51\u003c\/p\u003e \u003cp\u003eReview the Game Films 51\u003c\/p\u003e \u003cp\u003eSwitch Gears? 52\u003c\/p\u003e \u003cp\u003eBe Realistic 52\u003c\/p\u003e \u003cp\u003eStay True to Your Strengths 52\u003c\/p\u003e \u003cp\u003eMaintain Focus 53\u003c\/p\u003e \u003cp\u003eChapter in Review 54\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 ‘‘Fire in the Belly’’: The Ability to Take Appropriate Risk 57\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Picture of Successful Risk Management 57\u003c\/p\u003e \u003cp\u003eTrading Philosophy 59\u003c\/p\u003e \u003cp\u003eHandling Drawdowns 59\u003c\/p\u003e \u003cp\u003eHead versus Heart 60\u003c\/p\u003e \u003cp\u003eReviewing Risk Statistics 60\u003c\/p\u003e \u003cp\u003eExamining Personality Factors 63\u003c\/p\u003e \u003cp\u003eLearning to Upgrade Your Performance 71\u003c\/p\u003e \u003cp\u003eChapter in Review 77\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Thinking Outside the Box: The Importance of Ingenuity 79\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCase Study on the Satisfaction of Creative Thinking 80\u003c\/p\u003e \u003cp\u003eThe Strategic Thinker 81\u003c\/p\u003e \u003cp\u003eCase Study on Learning to Be Creative 82\u003c\/p\u003e \u003cp\u003eIdea Construction 88\u003c\/p\u003e \u003cp\u003eDeveloping a Variant Perception 88\u003c\/p\u003e \u003cp\u003eCase Study on Creative Thinking 89\u003c\/p\u003e \u003cp\u003eIdea Evaluation Checklist 92\u003c\/p\u003e \u003cp\u003eDefining Expectational Analysis 94\u003c\/p\u003e \u003cp\u003eCase Study on Knowing the Business 95\u003c\/p\u003e \u003cp\u003eCase Study on Expectational Analysis 100\u003c\/p\u003e \u003cp\u003eRaising Your Conviction 103\u003c\/p\u003e \u003cp\u003eIdea Velocity 105\u003c\/p\u003e \u003cp\u003eIdea Timing 105\u003c\/p\u003e \u003cp\u003eIdea Completion 106\u003c\/p\u003e \u003cp\u003eThe Psychological Dimension 109\u003c\/p\u003e \u003cp\u003eCase Study on Communicating Effectively 111\u003c\/p\u003e \u003cp\u003eChapter in Review 114\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 Separating Emotions and Decisions: The Ability to Be Self-Aware 117\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCase Study on the Emotion of Drawdowns 118\u003c\/p\u003e \u003cp\u003eThe Source of Fear 121\u003c\/p\u003e \u003cp\u003eCase Study on Trading Stress 123\u003c\/p\u003e \u003cp\u003eSelf-Esteem and Self-Discipline 125\u003c\/p\u003e \u003cp\u003eLearning from Drawdowns 128\u003c\/p\u003e \u003cp\u003eCase Study on Self-Assessing During Drawdowns 129\u003c\/p\u003e \u003cp\u003eGetting Comfortable with the Uncomfortable 131\u003c\/p\u003e \u003cp\u003eCase Study on Being Comfortable with Discomfort 132\u003c\/p\u003e \u003cp\u003eTeaching Traders Self-Assessment and Self-Control 136\u003c\/p\u003e \u003cp\u003eManaging Stress Well 136\u003c\/p\u003e \u003cp\u003eChapter in Review 140\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Nurturing Team Players: Listening, Learning, and Working Together 143\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCharacteristics of a Team Player 144\u003c\/p\u003e \u003cp\u003eResponsible 144\u003c\/p\u003e \u003cp\u003ePositive and Encouraging 145\u003c\/p\u003e \u003cp\u003eCompetitive 148\u003c\/p\u003e \u003cp\u003eCoachable 149\u003c\/p\u003e \u003cp\u003eFinding Complements to Your Team 151\u003c\/p\u003e \u003cp\u003eCase Study on a Comparison of Traders 153\u003c\/p\u003e \u003cp\u003eThe Importance of Communication 155\u003c\/p\u003e \u003cp\u003eChapter in Review 159\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 Leadership: Directing Success 161 Empowering a Culture of Change 162\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCase Study on Creating a Culture of Change 162\u003c\/p\u003e \u003cp\u003eEncouraging Responsibility 171\u003c\/p\u003e \u003cp\u003eCase Study on the Challenges of Responsibility 173\u003c\/p\u003e \u003cp\u003eExploring Potential Leaders 176\u003c\/p\u003e \u003cp\u003eCase Studies on Finding Potential Leaders 177\u003c\/p\u003e \u003cp\u003eEndeavoring for Success 183\u003c\/p\u003e \u003cp\u003eCase Study on a Failure to Lead 184\u003c\/p\u003e \u003cp\u003eChapter in Review 189\u003c\/p\u003e \u003cp\u003eIndex 191\u003c\/p\u003e  \u003cp\u003e\u003cstrong\u003eAri Kiev\u003c\/strong\u003e (Park Ridge, NJ)?is a psychiatrist who specializes in stress management and performance enhancement. Kiev has had a distinguished career in psychiatry. He is president of the Social Psychiatry Research Institute and is recognized worldwide for his pioneering work in transcultural psychiatry, suicidology, and psychopharmacology. Kiev has counseled Olympic athletes on how to achieve states of peak performance in athletic competition. In recent years, Kiev has worked with many traders on issues of stress management, goal setting, and performance enhancement. He has worked extensively with Steve Cohen's multi-billion dollar SAC Capital Advisors.    \u003c\/p\u003e\u003cp\u003eTrading tends to be a winner-take-all activity where only a small number of traders are truly successful. Nobody understands this better than author Ari Kiev. Over the course of his career, this respected psychiatrist and trading coach has seen firsthand how challenging the financial markets can be. Now, with \u003ci\u003eThe Mental Strategies of Top Traders,\u003c\/i\u003e Kiev identifies and analyzes the characteristics that can improve your trading endeavors and shows you how to cultivate them to gain that much needed edge. \u003c\/p\u003e\u003cp\u003eFilled with in-depth insights and expert advice, this reliable resource carefully examines the issue of successful trading by looking across a broad range of skill sets that are an essential part of this discipline—including, among other things, a goal-oriented strategy, risk management, creative thinking, and a capacity for collaboration and leadership. Kiev supports his approach with interviews from contemporary traders and portfolio managers—many of whom struggled during the financial crisis of 2008, but survived—as well as case studies that provide a real-world picture of what it really takes to make it in today's markets. \u003c\/p\u003e\u003cp\u003ePage by page, Kiev explains how aspiring traders can develop the qualities that lead to trading success by establishing \"stretch\" goals; cultivating a sense of variant perception in order to develop unique trading ideas; avoiding emotional decisions; maintaining a sense of urgency about producing results; and increasing effort in times of mental stress and market volatility. Along the way, Kiev also examines: \t \u003c\/p\u003e\u003cul\u003e \u003cli\u003eWhat you must do to become aware of your own psychological makeup and counter the hardwired inclinations of risk aversion\u003c\/li\u003e \u003cli\u003eHow you can function in the realm of probabilities—which is a significant part of the trading and investing world\u003c\/li\u003e \u003cli\u003eHow to build on existing personality strengths so as to develop the ability to function in a goal-oriented way, learn to cut losses, and maximize winning bets\u003c\/li\u003e \u003cli\u003eWhich psychological traps interfere with becoming a better trader and how you can overcome them\u003c\/li\u003e \u003cli\u003eAnd much more\u003c\/li\u003e \u003c\/ul\u003e \t \u003cp\u003eWhether you're a seasoned financial professional or an active individual trader, understanding the connection between trading and psychology can increase your chances of success. With \u003ci\u003eThe Mental Strategies of Top Traders\u003c\/i\u003e as your guide, you'll quickly discover how to improve your chances of winning in today's increasingly unpredictable markets.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990287433957,"sku":"NP9780470509531","price":58.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470509531.jpg?v=1761787212","url":"https:\/\/k12savings.com\/products\/the-mental-strategies-of-top-traders-isbn-9780470509531","provider":"K12savings","version":"1.0","type":"link"}