In this week’s episode I had the pleasure of chatting with Mercedes Oestermann Van Essen.
Mercedes is a trader and internationally recognized intuitive coach and mentor focusing on trading psychology.
I discovered Mercedes through the presentations she’s done with TopStepTrader and later found out that she has a very good body of work over at her website called The Buddhist Trader.
Naturally with a name like the Buddhist Trader we explore how Mercedes believes the practice of Buddhism plays into trading.
And even if you’re not spiritual I think many of the practices and concepts of Buddhism are very interesting especially this idea that Mercedes refers to as “showing up whole”.
So much of this has to do with the fact that good trading is much more than a cerebral exercise.
Good trading is about having a refined decision making process where your directed intentions and attention allows you to tap into greater levels of awareness that you can bring forth into your decision making.
A lot of people may call this intuition but in a simple sense i think it just boils down to being objectively in tune with what’s showing up for you while you trade (that is your feeling states, your emotional states, and thoughts) and then layering on what’s objectively happening in the the markets.
Sounds easy right but it’s actually very hard as most of us carry emotional baggage and negative beliefs that ultimately block us from objectively seeing reality, rather we filter the world by our beliefs or even misinterpret the world by what we want to see.
One practice we’ve spoken about time and time again that produces clear benefits is meditation.
And lot of this has to do with the ability to pause before we react, or as I’ve likened it – “feeling more space”.
As Dr. Daniel Siegel says, “meditation gives us the space of mind in which we can consider various options and then to choose the most appropriate ones”.
All of this relates to the degree in which you and I can remain mindful and self aware.
If you’ve ever wondered just how mindful you are there’s a test called the Mindful Attention Awareness Scale (MAAS) from Drs. Brown and Ryan, which you can take to actually find out your level of self awareness and self regulation.
Below is a link to the 15 questions MAAS test and should takes less than 5 minutes to complete.
Now if the results of the questionnaire concern you then check out our 28 Day Mindfulness for Traders Challenge.
It’s a guided meditation program specifically for traders. Dozens of traders have now gone through the challenge and many traders have noted improved levels of concentration and memory, increased energy and stamina, and reduced stress and anxiety.
In this episode we discuss:
– The benefits of guided meditation
– Trading from a place of oneness
– Giving yourself up to the journey and process
– The difference between believing in oneself and overconfidence?
– The importance of risk management
– The dangers of EMF pollution
TheBuddhistTrader.com – Mercedes’ website
@_BuddhistTrader – Mercedes on Twitter
28 Day Mindfulness for Traders Challenge – Being mindful is one of the keys to self awareness and self regulation. Here’s the guided meditation program I have put together specifically for traders.
– The Buddhist Trader – Mercedes’ book
Is This Issue Skewing Your Trading Mind? – Article from Mercedes about the possible effects of EMF on your trading
EMF 5: What are the Biologic Effects of EMF? – Article by Dr. Jack Kruse introducing EMF
Please consider rating the podcast with 5 stars and leaving a one- or two-sentence review in iTunes or on Stitcher. This helps tremendously in bringing the podcast to the attention of others.
You can tell your friends on Twitter about our podcast by simply clicking this link and sharing the tweet you’ll find at the other end.
And, by all means, if you know someone you think would benefit, please spread the word by using the share buttons below and up top.