If you had to choose 1 Trading Psychology book . . .

[queeng1983]

Hello people!

If you had to choose 1 trading psychology book to read - what would it be?

Thank you!

 

[zigglewigler]

Trading In The Zone - Mark Douglas

 

[westernforce]

I would also recomend "Trading in the Zone"

Remember though, reading a "self help" book is one thing, applying its principles are another story all together.

 

[shadowninja]

I like TITZ, too.

 

[shadowninja]

What???

 

[MrGecko]

The Art of War

(only to make things interesting)

 

[shadowninja]

How has that affected your trading?

 

[MrGecko]

i) I get to hang a pair of samurai swords in the office, and play with them when no-ones looking

ii) It makes me feel like i am living in "American Psycho"

iii) There is the simple matter of prose - both are tricky to make the whole way through, but for entirely different reasons

iv) the Generics of TAOW; for example..... (flicks through pages for example)...

"When at distance from an enemy of equal strength it is difficult to provoke battle and unprofitable to engage with him in his chosen position"..... (on Terrain)...

I can easily interpret this in terms of trading as "let the market come to me" - but equally I can interpet this in terms of mowing the lawn / teaching nephew how to spin pass / loading the dishwasher... and there are a fair few of these statements that I can build analogies with trading.

TITZ, on the other hand, is trading specific, and with that loses some of its appeal. Some of it, while making perfectly valid points, just makes me want to vomit... (flicks through book....) - like the passage about a Boy and his Dog.

iV) personal taste, I guess

If I had to draw a distinction between the two, I would say that TITZ is good for outlining the ideas, TAOW is far superior at implementing them. The concepts are so much more profound.

 

[shadowninja]

TAOW does talk about bringing the war to the enemy because then you are in control. How does that fit in with trading?

 

[Adamus]

Is TITZ better than the Disciplined Trader? (His earlier book)

 

[Trading2k]

I'm reading Way of the turtle by Curtis M Faith and it deals with the psychology of trading. It's a great read and has helped a lot. I'm trying some of the discipline. Trading 2K a financial spread betting blog trading FTSE and Dow indices.

 

[glyder]

I like TITZ too.
For me, the next best but quite some way behind TITZ is Zen & The Art of Poker
(Larry Philips).

 

[Flying Dutchman]

TITZ is a must. Also, take a look at Brett Steenbarger's work.

 

[shadowninja]

Mark Douglas is going to regret naming his book as such, given the shortened version.

 

[queeng1983]

Wow guys, there seems to be a pattern forming here - TITZ it is!

Funnily enough this was the first ever book recommended to me.

Thanks for your tips

x

 

[shadowninja]

Yep. It's official. We love TITZ.

 

[Adamus]

So no-one here has read Disciplined Trader? You are all obsessed with TITZ?

 

[shadowninja]

I read it but can't remember much about it. I must have been thinking about TITZ the whole time.

 

[RedGreenBen]

Hello people!

If you had to choose 1 trading psychology book to read - what would it be?

I also like Trading In The Zone (but have exhausted all TITZ jokes).

I sometimes wonder though if there is a bit too much of an obsession with trading psychology. It's when I start to think too much that things start to go wrong. Unless you have weaknesses that you have already identified then I might avoid opening the can of worms all together.

Ben (thinking non-thinking)

 

[tape reader]

I thought The Psychology of Trading by Brett Steenbarger was a great book. I've read it three times.
It's more like a quick fix. But quick fixes don't last for very long.
If the message sinks into you over a longer time it sticks with you.
That's if I had to choose 1 trading psychology book, it is Trading with Passion and Purpose by Mark Whistler.