The Role of Emotions in Trading - Ben Lichtenstein
This week Eddie talks with Ben Lichtenstein, member of the TD Ameritrade Network of broadcasters and producers and host of Futures with Ben Lichtenstein, about why it's essential to manage the emotional aspect of trading in order to become a successful trader.
Before joining TD Ameritrade, Ben spent 25 years on the floor of the Chicago Mercantile Exchange. Ben has been a guest on several popular news shows including CNBC, Bloomberg TV, Bloomberg radio and has been published in numerous periodicals including Futures Magazine and Stocks and Commodities.
Hear Ben talk about:
- [08:00] The least smart, most emotional trading decision he’s ever made
- [11:41] His take on trading with emotions and how to get past emotional trades
- [15:13] Managing emotions with a regular, consistent routine
- [21:33] The characteristics emotionally mature traders possess
- [28:33] Understanding the importance of controlled emotions
- [37:04] How to recognize when emotions are putting themselves in front of trading execution
- [41:40] Tools to help harness emotions when trading
- [50:51] His May 6th, 2010 Flash Crash play by play and the emotions he experienced at that time
- [1:00:57] The Eddie Question: What have you read online recently that has inspired you?