Master trading psychology: stock market tips from poker expert Jan Heitmann
Poker player Jan Heitmann may not be a professional trader, but there are many parallels between share trading and poker that enable traders to learn some trading tips from the poker expert for their own stock market trading. When trading shares, the position size, the trading journal, the risk involved in trading and many other points such as the psychology of the trader are comparable to poker players. Losses in a poker game are just as much a part of poker as trading losses in share trading.
00:00:00 Welcome & Intro
00:00:16 Good poker players are also good investors
00:01:34 Why are good players also good investors?
00:02:48 Parallels of Poker & Trading
00:04:09 Quote from Dr. Elder
00:05:13 People find it difficult to speak in probabilities
00:06:01 Jan Heitmann Academy: Probabilities & Decision Making
00:08:50 Costs & Losses in Poker
00:11:18 Risk management in poker
00:16:36 The term "tilt" explained - does a mental checklist help?
00:20:20 Use breaks and distance for analysis
00:22:07 The Trading Journal - Parallels in Analysis
00:23:14 Defiance & Hate with Decisions
00:25:11 Getting a grip on emotions: A tip from a pro
00:27:21 Poker tournament during the CapTrader Trading & Investment Day
Farewell & Disclaimer
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