Commentary

Storm Copestand
Traders Magazine Online News

Conquering Fear in Trading

In this exclusive to Traders Magazine, therapist Storm Copestand examines how traders can manage expectations and conquer their fear during the entire execution process.

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August 1, 2013

A Program Trader's Rise

By Alan Rubenfeld

Bring content to the game. "If you are not deeply involved in the market and what is occurring on a continuous basis, you are basically useless to your clients. Today's buyside trader couldn't care less about last night's Yankees game or your next vacation. They need value-added information that is going to make them smarter and better traders. You can't waste their time."

Learn how to fly. "One of the greatest dividends my career has paid me is giving me the resources to learn to fly - a passion I have had since a child. Flying and trading have a lot similarities. Both skills involve incessant checklists and removing operational risks. In both jobs, you need to break tasks down into smaller, manageable components in order to successfully complete the job at hand."

Prepare for "what next?" "This is a crucial rule for any successful trader. What is my next step? What unexpected event could occur? What could go wrong? What are my competitors at Goldman and Morgan thinking and how are they going to react? It is crucial to use any downtime proactively to be prepared to take advantage of the next situation."

 

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