Trading psychology is the mindset one has when engaging in online trading, and that mindset can be conducive to winning or losing. Since trading psychology helps influence long-term trading success, Yvan Byeajee, aka Trading Composure, a veteran trader and trading psychology consultant suggests that mindfulness can be useful in developing a trading psychology edge.
“Mindfulness a radical and science-based solution that puts you in charge–you as the scientist of your own life” says the popular trader who has well over 190 000 follower on Twitter as of this writing. He proceeds, “Paul Tudor Jones, Ray Dalio, Daniel Loeb, and many others are all part of a growing number of Wall Street traders/investors who are fine-tuning their brains–and upping their game–with meditation.”
Indeed, it’s been reported on various media at many trading and investment firms are now urging their traders to pick up some kind of meditation practice–in fact, meditation classes at Goldman Sachs have a waiting list of hundreds. That is because meditation can help develop awareness, focus, and composure, while keeping you in the present. This is potentially a game-changer for traders since they have to make the best decisions amidst market uncertain.
Yvan Byeajee, popularly known as Trading Composure on Twitter, Facebook, and Instagram, is a successful trading veteran with almost twenty years of experience in financial markets with his well-known brand Trading Composure. He also doubles as a trading psychology consultant and has significantly impacted traders across global markets.
An ex-Buddhist monk, Yvan brings his unique knowledge of mindfulness and mediation to the trading world.Yvan spent years of his life living in Buddhist monasteries. What led him on this meditative journey was his failures in trading. In his own words, “For the longest time, I couldn’t be consistently profitable in the market because of my trading psychology, so I decided to take a long break from trading to study myself… and I ended up in a Buddhist monastery.” Eventually, Yvan decided to quit the monastic life and returned to his “normal life” to face its unique challenges. Yvan overcame his difficulties in trading. He developed a trading psychology edge that helped him rise to the success he enjoys today, and now he teaches it to traders.
Yvan comes from a humble background. His family survived on welfare and food stamps, and he didn’t do well at school because of a learning difficulty. But one day, Yvan came across the book, How I Made 2 Million Dollars in the Stock Market, by Nicolas Darvas. He was immediately captivated by Darvas’s story and the success he had achieved in the stock market. That was the start of his fascination for trading.
Later on, Yvan dropped out of school and took on odd jobs with the goal of saving enough money to fund a trading account and replicate Nicolas Darvas’ success. He indulged in trading full-time in 2006 but was unsuccessful at first. “It was a rocky journey” he says, “but I’m very proud of it and wouldn’t change it for anything in the world because it made me the person that I am today.”
Today Yvan manages a multi-million dollar fund for him and his clients from the comfort of his home. He observes that every trader requires some mental attributes to prosper as a trader. Today, he is on a mission to enlighten other traders about this trading psychology with Trading Composure. His trading psychology work centers on mindfulness, but also probabilistic thinking, and the acceptance of uncertainty.
Yvan is active on Twitter and has a rather large following. About 190 000 people from all over the world currently follow him as of this time. His daily reflections on trading psychology are very popular among the finance crowd. Additionally, Yvan is co-authoring a research paper titled, Mindfulness and Trading, Are The Any Tangible Benefits? to help further the research on mindfulness.
“I want to help level the playing field by providing groundbreaking, mindfulness-based trading psychology work to those who need it, and trust me, many do,” Yvan concludes.
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