The next interview in the series is with John Burns (twitter). John Burns is Senior Consultant and Performance Advisor for the ReThink Group with clients including hedge fund managers, portfolio managers, and traders, as well as Hendrick Motor Sports NASCAR #9, #88, development pit crews. Prior to this role he worked as a floor trader on the Chicago Mercantile Exchange for 17 years. John has traded futures, options on futures, equities, ETF’s on most exchanges worldwide. He has experience with mechanical, discretionary and algorithmic trading styles. Learn more about John through the ReThink Group website and follow him on Twitter @JPBJR800.
What is the most overrated trading advice?
Take the emotion out of trading. Research shows that we can’t make a decision without
emotion. As many of us have experienced the more we try to become emotionless the more
chatter and uncertainty clutter our thoughts. Emotions have energy that needs to be
recognized and vented. The most effective way to vent the energy is to simply say what you
are feeling and why. When this is done and the words accurately describe the feelings the
energy/intensity of the feelings will dissipate. As the energy of feelings dissipates so does
the manic chatter of our inner voice. When we get good at understanding what we are
feeling we are able to see the markets as they are rather than how we want them to be.
What is the most underrated trading advice?
Use emotions, especially “negative” emotions as information. Our feelings have a
productive purpose. Understanding how we feel and why can unlock the power of
unconscious pattern recognition. When we understand patterns of thoughts and feelings
and put them in the context of trading setups and exits we can really start to dive into the
art of trading. When the flow of the market is our guide rather than our demands and
expectations of what the market should do, or what we feel the markets owe us, we can
really trade the market as it is rather than seeing the markets through a lens that is distorted
with the baggage of the past experiences. As we are able to embrace and understand how
we feel and why we are able to be more present and in the moment, therefore being able to
hear and feel what the market is telling us.
What’s a non-trading related book that’s influenced you recently?
I have two for you. The first has helped me a ton on my coaching journey. The Making of a
Psychoanalyst by Claudia Luiz. The second is a great book about how we can use our
bodies to help us understand what we are feeling. Your Body is Your Brain by Amanda
Questions for John? Hit him up on Twitter.
Do you know someone who you think would make a good interviewee? Contact me!