Trading Psychology Books That Work

[jonnyy40]

June &Van Tharp 'Financial Freedom Through Electronic Trading'.
Douglas 'The Disciplined Trader'.
Can anyone recommend others (or tapes etc.)

 

[Bunyip]

Some others that I have found useful:

1. "The way to trade" by John Piper
2. "Trading in the zone" by Mark Douglas
3. "Reminiscences of a stock operator" by Edwin LeFevre
4. "The new market wizards" by Jack Schwager

 

[Dow Dog]

"One Flew Over The Cuckoo's Nest"

Can't recall who wrote it.

 

[hagadol]

Trading In The Zone / Ari Kiev

 

[rossored]

i'd second "trading in the zone" by Mark Douglas. First few chapters are the most useful, after that he shifts into warp drive and my simple mind struggled to keep up.

 

[donaldduke]

Patels 'Mind of a trader' is ok.
Van Tharps other book has a few chapters on psychology too.

His home study course is priced in dollars and
given the exchange rate at the moment might be worth
trying if you can still afford it.

 

[Dow Dog]

i'd second "trading in the zone" by Mark Douglas. First few chapters are the most useful, after that he shifts into warp drive and my simple mind struggled to keep up.

I bought this book and I thought it was a very difficult read which was borne out by the fact that I nowhere near finished it. If you like an easy read, do not buy this one.

 

[darrenf]

although it can be recommended to anyone that can relate to kids being bitten by dogs! If you've read it, you'll know what I mean......

 

[donaldduke]

Trading in the Zone.

If you find the non trading stuff hard to read you can just
skip those bits.

There is plenty of advice related directly to trading.

 

[Marc100]

"Trading in the Zone" by Douglas is a great read.

Contrary to what others have said I found all of it especially the last sections very clear. If you compare it to his first book, 'The Disciplined Trader', which I found slightly abstract, this one has been very clearly thought out.

To me the last book lacked structure. I felt the author tried to be a little too deep when it was unnecessary.

"Trading in the Zone" contains all the points from the first book but with far more clarity.

Good luck.

 

[BBB]

So, where does TITZ (hehehehe) go where The Disciplined Trader doesn't?

 

[Dow Dog]

Round and round in ever decreasing circles and eventually disappearing up you know where !

 

[nine]

Trading in the Zone and Disciplined Trader seem to go to similar places. The material is useful but Mark is a terrible writer and incredibly tedious to read. The interview about TDT on TASC is actually much more readible and contains most of the material in his books except the prescription for trading through your problems.

See Stocks & Commodities V15:1 (35-40): Mark Douglas and The Disciplined Trader by Thom Hartle at their downloadable pdf bookstore.

Brett Steenbargers book on trading psychology is an interesting read and well orientated to very short term traders. A good complement to Marks book as the prescriptions have a bit more clinical psych to them. http://www.amazon.com/exec/obidos/t...102-6893091-1250552?v=glance&s=books&n=507846

 

[chump]

www.brettsteenbarger.com

This chaps book mentioned above, Have a look at his site,it's free. The archived articles have quite a few insights into psychology and it's application to trading.

Cheers

 

[JeanM]

"The Way of the Warrior Trader" by Richard McCall. I found his A.C.T.I.O.N plan good when I was suffering from analysis paralysis!

Accept .... all possible losses before entering the battle.
Centre .... yourself in body, mind and spirit.
Trust ....... your warrior skills and instincts.
Imagine ....success clearly in your minds eye.
Only ..........exist in the present moment to control fear.
Never .......stop or look back once action has begun.



Jean

 

[TheBramble]

Sorry Jean, can't resist...

"The Way of the Trader - vershun wun"

A - Always go in the opposite direction you were originally going to. Unless you catch yourself thinking this first. In which case, go in the opposite direction.

C - Close your winning position as soon as you breakeven to avoid potential losses.

T - Take SB to court for widening the spread and spiking the price just as you hit the buy/sell button.

I - am never going to do that ever again - once I get my next tranche of trading capital together.

O - my God. How the hell did that happen! I only went to make a cup of coffee.

N - Never enter a trade without being ready to change your timeframe if it goes against you.

 

[chump]

LOL..Bramble..very funny....

My offering,forget the books try this exercise...everyday find a piece of glass to look in and for 10 minutes repeat the following



.....I am a superman

.....I shake planets

.....move over god

.....earth doesn't deserve me

.....will this help you develop your inner strength and self belief you ask....

.....I don't know,but every time I do this it gives the shoppers in
M & S a good laugh......