Trade Mindfully: Achieve Your Optimum Trading Performance with Mindfulness and Cutting-Edge Psychology (Wiley Trading) 1st Edition

Trade Mindfully - This is a Must ReadThis is a serious, no nonsense book for the professional trader, or anyone who aspires to be a professional trader. It is written by an expert in human psychology and also by a real trader who understands the markets and the mind of a trader at a very deep (root) level. It is one of the most essential books for the modern trader. I would highly recommend at the very least that one downloads a sample and gives it a fair try, let it speak its mind to you.I am an independent, part time trader who after many years of struggle is just now becoming consistently profitable. I found this book Amazon through a "suggested reading" and am writing this completely of my own accord and have no other affiliation with Dr. Dayton other than I am taking some of Dr. Dayton’s on line courses.Additionally, since the book has many excellent descriptions and practice suggestions for “Mindfulness Meditation,” allow me to state that I have meditated ( mostly "insight" or 'Mindfulness' ) for over 15 years with life changing results. I think the exercises are excellent and have been exposed to countless guided meditations and teachings on this crucial subject.I have been a part time intra-day futures trader for about six years as well as a longer term options and stock trader. I would say that traders who operate in any possible time frame can benefit tremendously be reading this book, and doing at least some of the practices.Until I read this book, any connection I had between moment-to-moment mindfulness and trading was minimal, and pretty much non effective.. After reading this book, it's all changed. And my trading has improved more than I could have imagined.The main takeaways (for myself) from this truly invaluable book are :1. Engaging the "deliberative mind" in a clear way, without being hijacked from (destructive andcounterproductive) emotional patterns that are constantly trying to assert themselves.For me, the "deliberative mind" is an orderly thought process that has been developed over years ofactual trading, hundreds or thousands of hours of study, hard won experience, that is guided by atrade plan that has a positive expectancy ( a real edge, is going to be profitable over the long haul)one has confidence in.The "Intuitive" mind would be, in my case, the misguided notion that trading is something otherthan a highly demanding exercise in probability.2. Breaking up the trading session into three clearly defined, non-overlapping segments( preparation, trading, post-trade evaluation / accounting ) ( Real Focus !!)3. Not repressing the energy of emotions while simultaneously not allowing emotions to guide tradingdecisions ( easier said than done !! ) Dr. Dayton shows in the clearest and most practical of ways,how we need not be captured by our emotions ( fear, greed, etc..) but rather how to related to themin a healthy and constructive way that gives them enormous space, but that does not give them reignover our decision making process while trading.I learned also from this book that when trading, our focus needs to be on the charts, our chosenmethodology, trade management, etc., and not on an internal, emotional struggle that can bedebilitating to our ability to make rational decisions based on our trade plan, and very detrimental toour bottom line, and our trader’s psyche..This is pure gold and even though one might have a good, solid trading plan, anyone who hastraded real money for even a short time would most likely have made many trading decisionsbased on what is really emotion rather than sold trading logic.One of the best parts for me, is that the author knows these emotions inside out, is a real trader, and communicates all this is a fashion that is completely engaging and practical. Additionally,Dr. D. explains how and why these emotions are there to begin with… They do not point out that we are defective in some way, but rather they are the product of the [my term] “survival mind.” That was a great relief to me, as I feel much better equipped to deal with an emotion when I have a clue about its root cause.For example, if I was in a profitable trade, my overwhelming “feeling” ( fear) was to take profitsway, way too soon, for fear that the market would turn against me. This fear is a deeply programmedresponse from the “survival mind” ( my words) that convinces us that our survival is more likely ifwe hold on to the little we have, rather than risk it all for the possibility of more. That one insight, for me, is the same magnitude of an earthquake. I have “given away” tens of thousands of dollars in profits over the years ( by getting out of trades way too soon) based on this one powerful emotion alone. This book not only lays the groundwork for how and why these emotions are there, but also how to work with them in an intelligent and productive way, without having going to war inside of our psyches.The author’s examples of a trader’s inner world, and thought process again show that he has indeed been in the trenches of this never ending, often chaotic battle between the forces of supply and demand. The trading examples are very illustrative and almost any trader ( who can be self-honest..) will be able to relate to many of the examples and the inner states that are described with laser accuracy !Had I not found this book, read it and digested it, I doubt I could have survived the emotional rollercoaster of trading, especially intra-day futures, where leverage causes those profit or loss numbers to jump around sometimes with near heart stopping regularity !I feel a sense of debt to Dr. Dayton, as this book has indeed changed my trading experience like nothing else I have tried. I have simplified my trading, and my routine is much more orderly and effective, and trading has become MUCH less stressful as a result.Another plus is that the skill of true mindfulness will eventually wind up “infiltrating” more and more areas of our life. “lighting” what is perhaps a wiser and more skillful approach to all areas of our lives. Perhaps it is a “universal” human skill, and can be practiced for free, any time and in any situation !The bottom line : The book is very practical, very accessible, and a real gift to the trading community.Many, many thanks to Dr. Gary for this truly great book !

This life changing book was suggested to me by a trader who has made $115K YTD 2020, This is his second year of trading; and earlier he had lost $9K in 2019. The proof is in the pudding!This book is for a mature and somewhat experienced audience who are sincere about trading and genuinely want to master the skill.Remember the movie “Karate Kid”? The dialog “Wax on, right hand. Wax off, left hand. Wax on, wax off. Breathe in through your nose, out the mouth. Wax on, wax off. Don't forget to breathe, very important.”The kid initially does not understand how the process of applying wax on the car will help him learn martial arts, but later he realizes that it immensely helps him avert the opponent’s punches.Those negative reviews are from such inexperienced kids, ignore them! They were not the right audience for this book anyway.Now about the book- It brings a lot together very delicately and with great deliberation. well planned chapters, clear approach and honest excerpts for the works of other experts from different fields."For every complex problem there is a solution which is clear, simple and wrong." - H L Mencken.Also, for a lot of simple problems there is a solution which is clear, simple and not just wrong, but makes things worse.This book helps us unlearn the wrong reactions (solutions) that we unconsciously add to our habits.The book shows exactly why “The problem is not the problem. This problem is our attitude about the problem.” - It helps to know the mechanics of the brain and reasons for our default wrongful reactions.Then this book helps us inculcate the right habits and show the process of doing so - how to be able to respond, instead of spontaneously reacting.The book does not directly talk about how to make money in the stock market, instead it prepares us for it - the right way!The book repeats its lessons here and there and refers back to earlier mansions of many ideas, it may appear to be redundant but it works! This is actually the right way of embedding those thoughts in the reader’s mind. This prepares and compels the trader to bring about the changes required for better execution.This is easily the best book I have read in 2020.