My name is Jared Tendler, and my journey into trading was anything but smooth. I came into the markets with a strong background in psychology, having spent years helping athletes and professionals overcome their mental barriers. But when I first started trading, I quickly realized that the mental game was just as important—if not more so—than any technical strategy I could develop.
Trader Talks QnA
What was your biggest struggle when you first started trading?
My biggest struggle was understanding the psychological challenges that come with trading. I entered the markets believing that a solid technical strategy would be enough, but I soon realized that my emotional responses to losses and wins were sabotaging my progress. I was struggling with greed, fear, and a lack of discipline, which led to inconsistent results despite my technical knowledge.
How did you overcome those challenges?
I spent years developing a systematic approach to managing my mental game. This involved understanding the root causes of my emotional reactions, creating a detailed data collection system to track my performance, and implementing strategies to stay disciplined under pressure. The key breakthrough came when I realized that trading was as much about understanding my own biases and flaws as it was about analyzing the markets.
My Trade Statistics
After developing a robust mental game and refining my trading strategy, I saw significant improvements in my trading performance. Here are some of my key statistics:
- Annualized profit: $250,000+
- Win rate: 65%
- Risk-reward ratio: 1:2 or higher
- Monthly trading volume: $50M+
- Maximum drawdown: 8% (managed effectively through strict risk management)
| Year | Monthly Profit | Key Milestones |
|---|---|---|
| 2018 | $10,000/mo | Developed initial mental game framework |
| 2019 | $30,000/mo | Refined strategy and reduced emotional interference |
| 2020 | $50,000/mo | Traded through market volatility during COVID-19 |
| 2021-Present | $100,000/mo+ | Consistent profitability with evolving strategies |
Key Trading Insights from My Journey
One of the most important lessons I’ve learned is that trading success is not just about having a winning strategy—it’s about being able to execute that strategy consistently under pressure. Here are some actionable insights I’ve gathered along the way:
- Focus on the process, not the outcome. Trading is a marathon, not a sprint. Consistent effort and improvement lead to long-term success.
- Understand your emotional triggers. Identify what causes fear, greed, or impatience in your trading and develop strategies to manage these emotions.
- Develop a detailed data collection system. Track your trades, emotions, and decision-making process to identify patterns and areas for improvement.
- Practice gratitude and mindfulness. Regular mindfulness practices can help you stay grounded and focused during high-stress trading environments.
My Trading Strategy
My trading strategy is centered around price action and technical analysis, but it’s the mental and emotional aspects of trading that truly set me apart. Here’s a breakdown of my approach:
1. Pre-Trade Planning
I spend significant time each day identifying high-probability setups and planning my trades. This includes defining clear entry and exit points, as well as determining my risk-reward ratios. My planning process also includes a mental preparation component where I visualize potential scenarios and prepare my mindset for different outcomes.
2. Risk Management
Effective risk management is non-negotiable. I never risk more than 1-2% of my account on a single trade. This ensures that even during periods of significant drawdowns, I can stay in the game long enough to recover and capitalize on future opportunities.
3. Post-Trade Analysis
Immediately after each trading session, I review my trades to identify what worked and what didn’t. This includes both technical and emotional aspects. I use this analysis to refine my strategy and improve my mental game for the next session.
My Trading Tools
Here are some of the tools and resources I rely on daily:
- ThinkTrader – My preferred trading platform for forex and futures trading.
- TradingView – For advanced technical analysis and market data.
- TradeZella – Automates backtesting and trade tracking.
- Evernote – For maintaining my trading journal and data collection.
- Podcast: The Mental Game of Trading – Where I share insights and strategies with other traders.
Common Trading Mistakes to Avoid
Even the most experienced traders make mistakes, but some errors are more common than others. Here are a few to watch out for:
- Overtrading – Trading too frequently can lead to emotional fatigue and poor decision-making.
- Ignoring Risk Management – This is a recipe for disaster. Always know your stop-loss points and risk-reward ratios.
- Chasing Profits – Be patient and let your trades run according to your plan. Don’t be tempted to move your stops to lock in profits prematurely.
- Overleveraging – Using too much leverage can amplify losses and put your account at risk.
Conclusion
Trading is a challenging but rewarding endeavor. It requires a deep understanding of both the markets and yourself. By focusing on developing a strong mental game, refining your strategy, and staying disciplined, you can achieve consistent profitability. Remember, the key to success is not just about making profitable trades—it’s about managing your emotions and sticking to your plan, even when the markets turn against you.
If you’re struggling with your trading, take a step back and assess both your technical approach and your mental game. The insights and strategies I’ve shared here can serve as a roadmap to help you navigate the challenges of trading and achieve your financial goals.
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