Secrets of Trading Psychology

Featuring Denise Shull

Denise Shull, a performance guru from ReThink Group, spells out the psychology behind successful trading, having coached top hedge fund managers on Wall Street alongside world class athletes. Understand the interplay between emotions and articulating negative feelings for confidence in trading judgement and portfolio success. Filmed on September 11, 2017, in New York.

Published on
29 September, 2017
Topic
Psychology, Risk Management, Trading
Duration
22 minutes
Asset class
Equities
Rating
70

Comments

  • DS

    David S.

    23 5 2018 07:49

    0       1

    If you really want to know how to balance your cognitive and emotional mind to trade or live a better life, I suggest you understand Aristotle's Nicomachean Ethics. The Nicomachean Ethics were written by Aristotle 2500 years ago to teach an Athenian youth how to understand temperance, courage, practical knowledge, and justice. It is apparent that justice is no longer in vogue, but to trade successfully you need temperance, courage and practical wisdom. I would suggest you listen to the Teaching Company's lecture 408 on the Nicomachean Ethics. It organized and presents a coherent message and is easier to understand than Aristotle's notes. This will give you the structure to think about the disjointed tidbits of knowledge that are presented here. If you do not wish to understand the Ethics, then ignorance is bliss. If you are offended, I am old and tired of the latest information presented as coherent. The prime example is the American Heart Association when they told everyone to eat hydrogenated margarine full of trans fatty acids instead of less butter – the latest scientific information at the time. Get a grip and get a perspective and understanding so that you can use these disjointed pieces of modern information coherently. I would suggest Ms. Shull read and understand Aristotle also. If she has read it, please read it again and listen to the lecture. It will make a major difference to you and your firm. If you do not give a client perspective some new firm will. I am not talking cursory, I am talking in depth understanding since your are advising paying clients. Sorry I am so blunt, but when you are old there is no time to be nice/nice. DLS

    • DS

      David S.

      2 6 2018 21:42

      0       0

      I agree with the one thumbs down as I should have made my comments more positive. Ms. Shull is intelligent and well educated. I still feel that the contents are not presented coherently. Cutting edge information needs a context, a home to be useful. DLS

  • CM

    Christopher M.

    27 4 2018 12:59

    1       0

    "you're trading against other people"

    As someone new to this space, this being spoken out loud hit home far more than any number of times I have read it.

    Would love to see more content around trading psychology.

    I am one of the guys that made money on crypto's and looking to diversify out. One question I do have : Do you think crypto'kiddies are having a crash course in trading and psychology because everything seems to play out on fast forward? Could we see a new generation of traders coming out of this? Could there be some very good traders if they are the few able to retain what they have seen and maintain a long time horizon i.e. they have the ability to look back more than 1-3 years.

  • LQ

    Leslie Q.

    11 12 2017 16:03

    1       0

    Great video, psychology and mental discipline are one tenet that is important to handle especially as a trader. Looking forward to more, seconding what Rob had said earlier, I would also like to see an interview conducted with Brett Steenbarger if that is possible. Thank you!

  • B

    Bojo .

    20 10 2017 12:38

    2       0

    Great topic, more of things like this!

  • DZ

    Derek Z.

    3 10 2017 17:12

    2       1

    I just have to say this...

    When you're showing both participants in this conversation, and the camera keeps moving left, and right, and left? Yeah. Don't do this. It's annoying, and it makes me focus on the movement and try to get into the camera operator's head rather than paying attention to the discussion. And it seems *deliberate*.

    Static composition please. Moving the camera for no reason other than visual variety is bad.

  • AF

    Andrew F.

    3 10 2017 13:02

    8       0

    A great topic, but would really like more talks similar to this.

  • DT

    Dave T.

    3 10 2017 11:58

    1       0

    Good to see a vital aspect that is not direct macro topic addressed. Would like to see this interviewee in greater depth, and other like topics. I recall Mark Hart had a trainer/mentor - very useful interview too

  • Sv

    Sid v.

    2 10 2017 20:05

    2       1

    Hmmm... all this emotion makes me think i just need a computer, program the trading rules and walk away.

  • AG

    Alexander G.

    2 10 2017 12:12

    1       0

    good introductory, would like more in depth

  • bs

    bernard s.

    1 10 2017 18:51

    2       0

    All experience when we get out of losing positions. Thank you ! Great interview!

  • bs

    bernard s.

    1 10 2017 18:50

    6       0

    This is great although too short. I would love to hear her views on how at the end of the day trading markets is just trading people. Also, i would like to hear on ways to avoid the "crushing" fear we

  • RH

    Rob H.

    1 10 2017 15:24

    0       1

    If you're interested in book plugs check out The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist by Brett N. Steenbarger. This is a very practical book, that you can use on a daily basis. I hope Real Vision could bring him on.

  • AF

    Aidan F.

    1 10 2017 14:49

    4       0

    never got to develop her point about how you are really only trading other people. Wish she got the opportunity to expand on that. Pity

  • RM

    Ronnie M.

    1 10 2017 03:37

    1       0

    Great choice/direction of how psychology plays into trading. While Ms. Shull is obviously very bright, it would be helpful for her to improve how she communicates her insights... more storytelling might help. Academics are so deep into their research area it can become a chore to regurgitate it, so it comes off as rattling things off. Makes it hard to pick up the main ideas. Thanks!

  • JS

    John S.

    30 9 2017 23:57

    9       0

    Far too short. She was just warming up when he pulled the plug!

  • SC

    Sam C.

    30 9 2017 11:52

    2       0

    Topic says Africa, Frontier Markets..

    • MA

      Melanie A.

      3 10 2017 00:30

      1       0

      Yes, I've seen Africa, Frontier Markets incorrectly noted on other interviews too (although emotions often feel a little Frontier-ish..)

  • JV

    Jason V.

    30 9 2017 10:31

    24       1

    Excellent, but interview needed to be much longer. Denise has so much practical advice for the investor to really improve their craft. She barely had a chance to skim the surface of a subject that, at its core, is so vital to success in this business. Hope to see Denise back soon!

  • FV

    Fredrik V.

    30 9 2017 07:01

    1       1

    I think we need to pay attention to the few things that (still) seperates us from robotraders and etfs. More of this!

  • JH

    Jesse H.

    30 9 2017 05:21

    7       1

    Interesting - enjoyed this different perspective on RV. There is a deeper level that could have been explored with more time: basically, mindfulness for trading. What Ms. Shull is getting at is essentially an intro to mindful responses to external (internal) e.vents. To do this, we have to slow down, however - otherwise, habitual responses to emotions take the easy path. Do not agree that you have to go back to the first event -- you just have to increase your internal awareness and increase your level of detachment (meditation is a great way of doing this, in my view).

    • GS

      Greg S.

      1 10 2017 00:07

      0       0

      Jesse, I like the tangent you took here. Nice.

  • RI

    R I.

    30 9 2017 03:10

    3       5

    Fluffy interview. On the other hand, I kinda like Tom’s eyeglasses. What brand/make are they?

    • TT

      Thomas T.

      30 9 2017 10:18

      12       1

      There is nothing fluffy about Denise. She gets right at the heart of the matter. And truth be told, I consulted her as a few years back I was working at a hedge fund that wasn't working for me and she quickly determined the style was not a fit for my personality. I left and went to a family office hedge fund that was a better fit. It was exceptionally good and obvious advice but sometimes the obvious in front of you needs to be voiced. I highly recommend her book Market Mind Games for all types of traders and investors. The glasses? Oliver Peoples Larrabee.

  • NS

    Nico S.

    30 9 2017 02:40

    4       4

    Sorry, no value add for me on this one. Pretty dessapointing interview..

  • AG

    Andrew G.

    29 9 2017 20:58

    3       1

    This was one of the good ones! Would be interesting to dig deeper into the topic, maybe make it a recurring interview theme.

  • rm

    russell m.

    29 9 2017 20:31

    4       1

    excellent. emotional intelligence is frequently the squeeky wheel.

  • MT

    Mike T.

    29 9 2017 19:44

    3       1

    love it Tom, thanks so much! Outstanding interview in my view responsible for 80% success in trading, the mind. Cheers

  • IO

    Igor O.

    29 9 2017 16:14

    9       1

    Huh. That's why I am a lame trader.
    Good interview. Thanks