Books : The Psychology of Trading: Tools and Techniques for Minding the Markets
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- Psychology of TradingI am a relatively new currency trader, and started reading this book after loosing some money. It perfectly parallels some of my behaviour and gave me insight on how to change my trading (and my life) in order to avoid repating past errors. I highly recommend this book for any trader.
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- It's all about PsychologyI believe that this book will be of interest to everyone who is interested in Psychology.
Whether or not interested in trading.
The author was able throughout the whole book to capture my interest and attention. I continuously found myself immersed in the book.
His approach is funny and interesting; the real life stories are highly educational where anyone could relate to or knows about someone who could fit the picture. This makes it easy to use and to take the advice and turn ones own life around.
I strongly recommend this book to any person who is considering taking up trading or is trading already. This is a must read before any technical or fundamental book.
It is absolute great value for money.
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- Don't trade without itI have been recommending this book to all my trader friends.
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- One I re-read as often as possibleIf you know anything about trading, you will be aware that a large proportion of your success will depend on your trading personality rather than your trading system.
In this definitive guide to the psychological aspects of trading, Brett Steenbarger brings together his expertise in psychology and trading in a series of useful examples that outline the numerous emotional barriers to successful trading.
This is one book I try to re-read as often as possible.
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- A great approach to an important subjectIf one rates books of this nature based on the number and frequency of exciting thoughts and ideas they produce in the reader's mind, The Psychology of Trading has to be near the top of the heap. Through examples and anecdotes, the author brings to light important topics in way which combines the personal with the professional.
A favorite mantra of traders is that one must be disciplined to have a chance at success in the markets. This is all well and good, but it's oftentimes easier said than done. Dr. Steenbarger's book takes the reader beneath the surface to explore reasons why discipline breaks down - why traders who know exactly what they are supposed to be doing, still fail to do it.
Unlike some other books, in this one the author does not just pour out a list of all the things that traders can do wrong, and the various mental issues which come in to play. He actually takes a proactive approach, one which helps the reader see that there are things which can be done to overcome one's difficulties. The reader is not left to feel like their emotions are a bad thing, but rather helped to see that they can be put to good use, not just in trading, but in life as well.
