Trading Psychology Books

[stopdownlimitup]

Im thinking of buying this one. I have heard great things! Has anyone read it? Opinions please....


The Psychology of Trading: Tools and Techniques for Minding the Markets
By: Brett N. Steenbarger

 

[dojistar]

I would buy Trading in the Zone by Mark Douglas, its a better book in my opinion.

 

[Futures Hunter]

I dunno why, so far I dun find any good Books on Trading Psychology. Author don't really discuss on how to solve it.....May be my English is too poor to understand the AUthor explaning how to solve....

 

[Cornix]

Already mentioned Mark Douglas's TIZ and "The Disciplined Trader" are very good indeed.

But many other aspects of psychology (especially sports psychology and career related) can be effectively applied to trading, because most psychological problems of traders have roots somewhere in "general" psychology.

 

[WSL]

Does anyone know what volume trading books sell in per year?

And what's the best seller (within the last 5 years)?

 

[Cornix]

Probably Amazon has the answer?

 

[WSL]

Probably Amazon has the answer?

Thanks. I tried that but found nothing.

 

[Cornix]

Thanks. I tried that but found nothing.

Sorry, I didn't mean to be sarcastic.

Just checked it myself and what it returns intuitively looks like close to the truth. I hear these names listed there mentioned really often:

http://www.amazon.com/The-Best-Trading-Books/lm/3W227627GVTZX

 

[WSL]

Sorry, I didn't mean to be sarcastic.

Just checked it myself and what it returns intuitively looks like close to the truth. I hear these names listed there mentioned really often:

Amazon.com: The Best Trading Books

Thanks, that's very considerate of you.

I'm looking for sale volumes. Amazon don't really show that.

Thanks anyways.

 

[Cornix]

Yeah that's pretty hard to find, because Google mixed term "volume" with volume as a trading term.

 

[numbertea]

When I hear the term "trading psychology" I think about what causes people to be trading losers or winners. I think about what do to avoid common mistakes thereby profiting from the mistakes of others. For every winner out there there are a multitude of losers who foot the bill. The first books which have greatly helped me in my trading helped me realize that perhaps all people have connected views of the world and therefore perhaps will look at a trading chart with a similar initial response to what they might see. If people see things similarly then technical analysis of the price patterns must exist as a viable means of creating a system that can make money. I credit the books of Carl Jung with convincing me of the common thoughts all men have through his descriptions of human archetypes. History repeats itself and so do the emotions of man. The emotions can be traded upon. Lately I've read a great book that helped me reaffirm my thoughts on trading and human emotion patterns. I recommend it and hope you find it interesting. Here is a link to it, it is free.
Http://ebooks.gutenberg.us/worldebooklibrary.com/confessstock.htm

 

[numbertea]

Reminiscences of a Stock Operator is the link I just posted. It was so reaffirming in dark days of coding coding coding. Finally I'm starting to see a light at the tunnels end. A good trading plan comes with work, study...years, and perserverence. Never give up or give in. Believe in your goals and yourself. The person in the book, Larry Livingston, is the real trader Jesse Livermore and it is wonderful to read about his trading exploits. An unfortunate side bar is that he killed himself in real life. Trading sure can cause anxiety, I think it attracts people who enjoy working under pressure. I know I do.

 

[angelnish]

Trading for a Living: Psychology, Trading Tactics, Money Management
by Alexandar Elder

Trading for a Living Successful trading is based on three M’s: Mind, Method, and Money. Trading for a Living helps you master all of those three areas:

How to become a cool, calm, and collected trader How to profit from reading the behavior of the market crowd How to use a computer to find good trades How to develop a powerful trading system How to find the trades with the best odds of success How to find entry and exit points, set stops, and take profits Trading for a Living helps you discipline your Mind, shows you the Methods for trading the markets, and shows you how to manage Money in your trading accounts so that no string of losses can kick you out of the game.

 

[Gup16v]

Ari Kiev - Trading to win

Does require effort to read though. Dr Kiev was hired Steve Cohen - SAC capital management for his traders.

 

[forever_young]

I would read "The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist (Wiley Trading)". There are quite a lot of good reviews.
"'Dr. Brett', as he is affectionately known by his blog readers, has assembled a practical guide to self coaching in this excellent book. The strategies he outlines are further enhanced with numerous resources and exercises for the reader to refer to and keep the principles fresh. I enthusiastically encourage anyone interested in bettering their trading and investing to read this book and keep it on their desk as a constant source of learning."