Trading Psychology: Rewire Your Brain for Maximum Performance in Today’s Markets
A Complete Online Book Experience
By Scott J. Redler, Chief Strategic Officer of T3 Live and T3 Trading Group
To My Fellow Traders,
At times like this, it's easy to suffer from mental performance issues like stress, anxiety, and burnout. It's easy to want to quit.
This book is my solution.
I planned to makeTrading Psychology my first paid book after giving free eBooks to tens of thousands of traders all around the world. And who knows? Maybe I will charge for this material one day.
But given the turbulence I've seen this year, I am releasing Trading Psychology for FREE on this website as an online book.
Trading Psychology is the culmination of everything I've learned about psychology and mental performance since I started in the markets in 1998.
So take my experience and use it, starting with the Preface down below. From there, you can start clicking through to individual chapters.
And if you like what you read, please share it with your friends, and leave comments.
I'll release one chapter per week every Saturday morning, so opt-in for notifications so you know when there's new content available.
Chief Strategic Officer of T3 Live and T3 Trading Group, LLC
I wrote Trading Psychology because I believe people all around the world are being sold a lie. The lie is that you can think your way to success. That overnight, you can magically change your mindset and then you will be motivated to take action. Then, your dreams will come true. You hear this lie everywhere, not just in trading.
I take the opposite view. I don’t have a PhD in psychology. But I’ve interacted with thousands of traders since 1998, and they’ve taught me one thing: a strong mindset comes from taking action. You take the action, and then your mindset improves. That is how you rewire your brain for maximum performance.
"A strong mindset comes from taking action. You take the action, and then your mindset improves. That is how you rewire your brain for maximum performance." #tradingpsychology
And if your brain achieves maximum performance, you just might win big. But be warned: I am not putting you on an easy path. The actions I want you to take require hard work and sacrifice with no guarantee of success. But if you take the hard road, you will be better off.
Throughout this book, I’m going to destroy some major myths about trading, like the idea that you have to trade like a perfect emotionless machine. I’m also going to explain in simple terms why consistent results might be the worst trading goal you can have.
I will also cover some harsh realities that so-called trading psychology experts never bring up. Like the fact that your personal life can have a massive impact on your trading. And why making a lot of money trading may destroy you in the end.
In each chapter in this book, you will get a specific action item - a small mission I want you to take. Each of these action items is designed to improve your self-awareness and reshape your thinking so you can improve your odds of success.
And when I say “improve your odds of success,” I mean it. I want you to approach trading with open eyes. I will never guarantee you riches and happiness. My only guarantee is that I’m giving you everything I’ve got to help you get to the next level.
Over time, you will start to develop an inner ‘trading voice’ that guides you through the markets, and helps prevents you from making bad decisions.
Now, why are you listening to me, Scott Redler?
Well, I’ve been in the trenches as a professional trader since 1998. And I still walk the walk today every day, risking real money trading stocks, options, ETF’s, and crypto currencies.
I’ve been featured by media outlets like CNBC, Bloomberg, Fox Business, the NY Times, the Wall Street Journal, and MarketWatch more times than I can count. I've even appeared in documentaries by the BBC and China's CCTV-2.
Here are two interviews I've done that people seemed to really like:
As of June 2022, I’ve educated over 34,000 traders around the world, everywhere from New York City to Chicago to Florida to Las Vegas to China to Ukraine.
I love Ukraine, it’s one of the most undervalued countries in the eastern block, it has huge potential. I coach a group from there and visited the last 5 years. pic.twitter.com/x0TgNIc6Gx— Scott Redler (@RedDogT3) September 25, 2019
But here’s what’s really important: as I just told you, I’ve met thousands of traders over the years. From newcomers with $500 accounts all the way up to hedge fund managers running $10 billion+. And everyone in between.
Here’s the weird thing: no matter how much (or how little) money a person has, the challenges of trading tend to remain the same. We’re always trying to balance fear and greed. We’re always struggling to keep a cool head in the heat of the moment. And we’re always fighting against the temptation to do the wrong thing - even when we know it’s wrong.
The psychological pressures you feel will never go away. You can only learn to manage those pressures, and adapt to them so you make better decisions.
Preface: Intro to the Book
Chapter 1: How to Get the Most Out of This Book
Chapter 2: 13 Reasons Why Traders Fail
Chapter 3: Why Rational Traders Don't ExistChapter 4: The Myth of the Consistent Trader
Chapter 5: Trading Ain't Easy
Chapter 7: Get Obsessed With Price Action
Chapter 8: Why You Need Loss Limits
Chapter 9: Why You Need a Daily Routine You Love