Jared Tendler recently came out with his latest book “The Mental Game of Trading – A System for Solving Problems with Greed, Fear, Anger, Confidence and Discipline“. Below is my review of his book which I read over the last week.
Jared Tendler Previous Books
Jared isn’t new to the psychology realm. He is a past/present golf, poker and esports coach as well. I have dabbled in poker for over a decade, never thinking of it as a possible career, ie. pro poker player, but as a serious recreational player. As such, I like to dig in and study as much as possible, and part of that was reading Jareds poker books “The Mental Game of Poker 1” and “The Mental Game of Poker 2“. He puts out quality content, so I was excited to finally see his trading book come out. I know it was in the works for several years.
My Interest In Trading Psychology
I believe most people (not all, but more than not) would agree that the mental aspect of trading can be a big, if not a bigger, hurdle than actual technical trading abilities. We all have our innate abilities, our strengths and weaknesses, and I can speak for myself when I say the mental aspect has been a much larger hurdle than the technical aspects of trading. Learning software, understanding supply and demand, what margins are, ebb and flow of the market, pattern recognition, all of these things come a bit easier to me. But the psychology – going on tilt when having several losers, chasing the market, doing things I immediately regret or regret even more the next morning (blowing funded trader evaluation accounts with the excuse of “I’ll just pay the reset fee and try again” comes to mind), these mistakes are my hurdles to overcome to really bring trading to the next level.
All of that said, being someone looking to improve my trading psychology and already knowing I appreciate Jared’s style and approach to psychology, I was looking forward to this book.
How It’s Written – The Delivery Of The Content
The book is a combination of concepts the reader can learn and then Jared provides practical ways to implement them yourself. The “hand history” of your trading concept is revisited throughout the book. If you take the time to do the work, there is value in that. The book isn’t a workbook though, you can just read it without doing the homework aspect.
As well there are several brief stories interweaved of real world traders. These fell a little flat I felt. They are too brief to really drive home any solid points, and almost come across as made up stories. I’d prefer either a bit more in depth case study, or nothing at all.
Marquee Topics
The book is well divided into the important topics I think we can all agree on. This is part of why I’d say the book is trader psychology lite. There’s nothing blockbuster in discussion trading fear, greed, tilt, etc.
None the less, the book does do a great job segregating the topics which are important, and putting them in a logical order to cover. Quite a bit of the book is devoted to Fear as well as Greed. Other topics covered include Discipline, Anger and Confidence.
Conclusion
Overall I think it’s a good book, a somewhat easy read but not in a negative way. I’d reread it again. Is it the very best book on trading psychology? Not really. I think though if you are new to trader psychology concepts it’s a great introduction. I’m not sure it’s going to revolutionize trading psychology, but it’s a great introduction for those new to the concepts.
You can get The Mental Game Of Trading here on Amazon.
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