027: Trader and Psychologist Dr Gary Dayton discusses why traditional approaches to controlling emotions don't work, the role of emotions in trading and how mindfulness can improve trading performance.

Dr. Gary Dayton has been an active trader since 1999 and is President of a consulting firm that specializes in developing "peak" performance in traders. His approach to trading psychology is very different to the traditional approaches used by other trading coaches, introducing traders to the practise of mindfulness to not only overcome fear and other unwanted trading emotions but to develop the concentration and focus needed to trade successfully. In this episode we discuss why traditional approaches to controlling emotions don't work, the role of emotions in trading and how mindfulness can improve trading performance. He also shares some tips on how to get started practising mindfulness, the benefits it can have outside of trading and how the approach of Mental Parking can increase focus. Topics discussed Comparisons of sports and trading performance Traditional approaches to handling emotions in trading and why they don't work Why it's impossible to suppress your emotions Landing a plane in the Hudson River and what the Captains response teaches us about trading The role of emotions and how experienced traders actually leverage emotions in trading The concept of Mindfulness and the benefits to traders How to use Mindfulness when trading The evidence that Mindfulness can improve trading performance and how it impacts the brain How to get started practising Mindfulness How to use Mental Parking to increase focus and productivity How exercise can improve mental and trading performance   Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.