Book Review – MINDFUL TRADING: Mastering Your Emotions and the Inner Game

http://www.fxtradermagazine.com/forex-trading-books/mindful-trading-mastering-your-emotions-and-the-inner-game.php

Mastering Your Emotions and the Inner Game

By Rande Howell

In Mindful Trading: Mastering Your Emotions and the Inner Game, Rande Howell invites us on a journey into the self in a quest to master one’s emotional state of mind and to re-organize the self for peak performance trading.

The book is structured as a roadmap to the process of self discovery and self examination that one must first embark on, before they can emerge as an empowered, confident trader, capable of mastering the mind and keeping their emotions in check. And while this is easier said than done and it is impossible to fully detach ourselves from our emotions, through development of our Emotional Intelligence, we can learn to manage our emotional state, which ultimately is so crucial for consistent and effective trading results.

Mindful Trading, Mastering Your Emotions, Inner Game, Rande Howell, Forex trading books, trading books, books
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Through insightful vignettes the reader is offered a peek into the minds of unsuccessful and successful traders alike. We are exposed to the rollercoaster of emotions that every trader will recognize they have experienced at one point or another – from fear, anxiety and self-doubt to greed, and impulsiveness. Most readers who have traded with real capital will see a side of themselves and identify with the emotional trials and tribulations described so vividly in the exercises and case studies.

Before we begin this quest, we must first recognize some uncomfortable truths about ourselves – from the outset the Author reminds us we all come with a great deal of unconscious programming – preconceived notions and biases, an unshakable “set of beliefs” that are ingrained in us since inception. We are after all a product of the environment we have grown up in, shaped by the individual experiences each one of us has had, forming our unique thinking processes. And this is where the journey must begin – with the realization that our personal psychology is what trades, not our methodology or platform. Both the latter are essential for success, but they are only tools. Our subconscious belief system is the personal psychology within each of us, that in reality executes the trades, or as most of us know better, handcuffs and paralyzes us.

Rande Howell does not promise this metamorphosis into a “zen” trader will happen overnight – there are no short cuts here for the determined and “committed to change their old ways” trader. Initially exploring “the nature of perception”, he then teaches us the origins of our biological and psychological fears, how to emotionally regulate fear and greed so they do not overwhelm our thoughts and trading.

Every chapter builds on the previous by introducing new skills, which are integrated into earlier learned skills. And in the final stage, through achieving Mindfulness the trader is ready to ”awaken the observer within” – to become the objective observer of one’s own internal dialogue going on at all times within our minds. As this powerful skill is developed you will see how to find the discipline, patience, courage, and impartiality so necessary for effective trading.

The traders that learn to master mindfulness will soon realize the benefits can be far reaching, with implications beyond just trading performance – the freedom from self limiting beliefs can unlock our potential not just as traders, but in all aspects of our lives. When applied rigorously we become aware of the self-limiting walls we erect, that prevent us from reaching our true potential.

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