Mental training in competitive games

One friend of mine completed a recent triathlon, also called ironman, race. The race includes a 2.4-mile ocean swim, followed by a 112-mile bike race, and then a full 26.2-mile marathon, all back-to-back in the same day. Many athletes sacrifice a lot of family time to train year long so that they can keep fit. However, complete rate in triathlon is about 50% in that race. This number is certainly not a representative number. Most participants just want to complete. So this is a highly competitive game, in a sense that the enemy is the athlete himself. Success secretes specific to this game are effective training and time management. But there are some others we can learn, like how athletes train their minds in this tough games.

So there is great correlation in ironman race and investing, in which investors are not facing physical challenges but mentally brutalities. Thus mental training is equally important to physical training. Many training books ignore this aspect but stress techniques. It is analogous to skilled investors with a weak mind. Never make it. So I am curious how athletes train their minds.

Here is key points in a book by Don Fink, Be IronFit, on mental training. These points are easy to understand and self-descriptive.

• Mental training is about control negative thoughts, self-doubts and fears. It is not so important what happens to you but what is truly important is how to deal with it.
• The key is keep optimistic
• One of the two basic fears is embarrassment. We fear embarrassed when we fail so we don't act. To curb this fear, think like this, respect it instead of fear it. Trust your plan and training. 
• Lower your target. Make inchstone instead of milestone at difficult times.
• Be positive. You can do it. Every day is one of the two days: good day and great day.
• Family support is important. Ask for support and understanding.
• Find mentors instead of "go it alone". Not only one mentor but many on different aspects: career, family, techniques, etc
• When come to dealing with setback, don't focus on where you wanted to be, but focus on where you are. 
• Understand that ultimate secretes of athletics and life are persistence, desire, and strength of will.

These rules can be applied to everything in life as well.