Traders are turning to a hypnotist to try to stay calm amid the market chaos.
More than ever, the markets have been like a roulette wheel this month. They have been swinging from deep losses to massive gains and back again, sometimes within hours.
The markets are led by greed and fear, but the traders who act on these emotions will get blown out by the market swings.
Some are turning to hypnotherapy to keep their decisions cold and rational, Aaron Surtees, a director at the London clinic CityHypnosis, told Business Insider UK.
Surtees has worked with employees at banks and hedge funds including Nomura, UBS, and Henderson Global Investors and said traders asked for the same thing in their treatments. Surtees said they want “to be like a robot: cold, clinical, highly efficient, high stamina, high concentration, relentless.”
It doesn’t take long either. Surtees said two to four 15-minute treatments should be enough to reprogram the subconscious and see gains. It’s not cheap, at £195 ($305) per quarter-hour session, but it has a market.
“It’s about taking away the reckless emotional trades and getting them to do what they want,” Surtees said. “Anger and frustration is quite a big one. Shoveling money in even though they know they should get it out and losing their head.”
He works with about a trader a day, though things haven’t reached the pick-up in business seen during the 2008 global financial crisis.
And for those who are worried that their newfound robotic behavior will spill over into their personal lives, Surtees said this was very unlikely.
“It’s like a performance, like an actor, so you’re in a different mindset the second you step onto the trading floor,” he said. “As long as they’ve got the desire for that change, then you can put all of that into the suggestions.”