The Podcast Episode 47: Damian Hughes: The Winning Mindset - What Sport Can Teach Us About Great Trading.

A winning mindset is at least as important to trading success as the strategies and tactics you deploy. But how much effort do put into developing a winning mindset?

Having a robust system or method for finding value, an appropriate philosophy to risk, a strong risk management practice, and a thorough understanding of markets are all prerequisites for success. However, it is the combination of these factors allied to a winning mindset, which is where great performance occurs. This is the secret to success in financial markets. The greats of trading all have it. Ray Dalio, Paul Tudor-Jones, Warren Buffett, Jim Simons. 

Damian Hughes, one of the world’s leading experts on cultivating a high-performance mindset. Damian has worked with athletes, business leaders and sports-teams from around the world helping them cultivate the mindset for success in high performance environments. His list of clients includes multiple Olympic medal winners, world champion boxers, and leading sports team such as Barcelona, Manchester United and the Scotland Rugby Team.

Damian also works with high performance teams in organisations, he is a Professor of Organisational Psychology and Change at a leading British University and has written extensively about developing a 'Winning Mindset'.

In this episode we talk about mindset expansively and how it helps traders to improve performance. Some of the highlights in this episode include: 

The importance of ‘Playing to Win’, as opposed to ‘Hoping to Win’, or ‘Playing to Not Lose’: The latter two commonly lead to people constantly flipping, changing and hedging their bets, whereas the former drives a vision and directs resources and energy to find ‘How to Win’, and then ‘Sets a path to victory’. Playing to win enables us to accept losing more easily, because it is accepted as a necessity on the path to winning. You can here an excerpt from the podcast about this here: