Mastering Trading Stress: Strategies for Maximizing Performance

Hardcover

ISBN 10: 0470181680 ISBN 13: 9780470181683

Publisher: Wiley, 2007

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.

From the Inside Flap:

The daily grind of the trader is always full of excitement, energy,adventure—and stress. While many live for the thrill of thetrade, most also feel the emotional, psychological, and physicalimpact of the constant changes; riding the roller coaster of thefinancial markets for eight hours a day, five days a week,forty-eight weeks out of the year.

But while some traders just seem naturally better equipped todeal with the emotional turmoil of trading, others seem to "fallapart" under much less dire circumstances. While eliminating stressis not realistic—or an entirely desiredapproach—reducing stress is. And traders can best cope withstress, says Ari Kiev, by being proactive and taking steps toreduce it. With this book, Kiev shows you how to dothis—beginning with developing an appropriate understandingof stress and how it physically affects us, and leading all the wayto specific exercises that can help traders manage their dailystress.

The author, a psychiatrist who specializes in stress managementand performance enhancement, has worked extensively with tradersover many years. In Mastering Trading Stress, he draws on his vastexperience to offer examples, transcripts of conversations, andpersonality profiles of real-life traders that illustrate howstress robs them of their ability to perform at their best. Hepoints out that the stressors for all of these traders weredifferent and, accordingly, asserts that aspiring traders need toidentify their own particular stress points and learn to deal withthem in order to succeed.?Kiev describes a variety of practicaltechniques that can be used to handle destructive emotions andout-of-control feelings, including his "Most Basic" stress busters,and tells what to do if a breakdown does occur.

There is no way to take the stress out of trading. But stressdoes not have to make you emotionally, mentally, or physically ill,and it does not have to hinder your trading game. With this book asyour guide, you can learn to reduce stress, cope with the stressesthat are inevitable, and even use stress to your own benefit.

From the Back Cover:

Praise for Mastering Trading Stress

"Ari Kiev helps traders master the internal pressures that skewperception and decision making. A concise and readable guide, thisbook effectively utilizes case studies to illustrate the variedmanifestations of stress and what to do about them."
—Brett N. Steenbarger, PhD, author, The Psychologyof Trading and Enhancing Trader Performance

"In this groundbreaking book, Kiev undertakes a uniqueexploration of the impact of emotion and psychology on the traderand his or her investment strategy. The lessons of thisbook—supported with hallmark Kiev case studies—willresonate with any market participant."
—Matthew S. Grossman, Chief Investment Officer, CRIntrinsic Investors LLC, a division of SAC Capital

"Ari Kiev has a tremendous ability to deliver solutions formanaging trading stress. This book will benefit aspiring andestablished traders much as they have benefited me and others whohave learned from him directly. I highly recommend thisbook."
—Wayne Holman, founder and CEO, Ridgeback CapitalManagement LLC

"Put me in, coach! Kiev tells real-life stories from the frontline—peeling back the cover on the role of psychology andemotion in trading. His insights and paradigmatic narratives arepractical and powerful—enough to get any trader off thesidelines and back in the game."
—Ciaran O'Kelley, Co-Head of Global Equities, Bank ofAmerica

"Ari Kiev has researched the biggest impediment to tradingsuccess: human psychology. His readers will learn to transcendtheir current boundaries and achieve greater success. Demanding andforthright, Ari's insights challenge us to raise our game in anoriginal and compelling way."
—Quintin Price, CIO, EMEA Pacific Equities,BlackRock