What are key trading psychology issues that experienced traders deal with? Here are three that I've recently worked on with portfolio managers and traders:
1) Teamwork - How to build a team by hiring the right kind of junior professional; how to team up with other experienced traders in a way that offers quality for all; how to get more out of conversations with traders.
2) Creativity - How to process market information in new and deeper ways to see patterns and relationships that otherwise would go unnoticed. How to better integrate information at different time frames and/or across different markets. How to better blend intuition and rigorous analysis.
3) Self-Development - How to renew energy at the end of difficult days in the market; how to better review one's trading to identify what is and isn't working; how to more rapidly update views and adjust to market changes.
If I had to generalize, I'd say that beginning traders turn to psychology to deal with frustrations. Experienced traders turn to psychology to hone performance. At its best, psychology is a tool for learning from experience, not just a salve for emotional wounds.
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