WILEY The Psychology of Trading: Tools and Techniques for Minding the Markets

This is a fantastic book and anyone thinking of buying it should definitely listen to some of the points in this review. First off, this book and its insights are very well thought out. You get the sense that this author is not some hot shot. He is a down to earth human and it is easy to emphasize with him in many of his stories of emotional swings in the market. The author is able to take the psychology of trading and apply it to the real world. All too often new traders think of trading as one thing and life as another. As someone who has been on this path for awhile, things begin to merge as you find that your problems in life carry over to your problems in trading, and to be a good trader for long periods of time, you must also be good at living well in general. I have read reviews complaining about the stories and their relevance. There is a inkling of truth to these statements, but they usually come from readers who are not well experienced in the markets. This book is very subtle in its own way and many of its pearls of wisdom are not "smack you in the face" statements. This book is definitely not for those who are brand new to trading because they will not have the experience that lets them understand how the stories this author tells are relevant to his trading. So what is the use of this book if you have to already know what he is talking about to read it? Well the author definitely puts things that are already deeply understood into new context. Putting this market wisdom in new ways is always a great way to solidify your mental structure and sometimes be able to apply it outside of your previous focus. All in all, I would tell any trader that they have to have this book on their shelf, but that it is a book to be read many times, chapter by chapter, not all at once. Like Market Wizards, Disciplined trader, or Rem. of a stock operator, this book requires patience and an understanding of subtlety. You will get new insights every time you leaf through it. Concerning his last chapter and sometimes throughout the book, he is definitely on the leading edge of where trading is going. Before computers became very powerful, most good traders needed implicit knowledge and experience to trade. Now that computers have taken over quite a bit of the playing field with Quant funds and technical analysis, sometimes this old "seat of the pants" trading is called undisciplined hogwash. However, the best traders will be able to use the new psychological information about instinct, combined with the technology and discipline of systems, to become proverbial Michael Jordans of Trading. Very very interesting stuff.

This book will not only help you in trading but in life too! Must Read!

Brett clearly has an deep understanding of psychology and this level of insight can only come from decades of practice. I've experienced the highs and lows over the past two years trading full time. Faced with all the emotions that come within this territory, fear, ego, FOMO, overcautious, anxiety, impulsive trades, remaining faithful to plans during high stress situations I realized how critical an individuals psychology is to becoming consistent. I certainly didn't posses the tools or knowledge to make the changes on my own so I began looking online for some guidance and i kept coming across mentions of this book over and over again. It was perfect timing because I had gotten a taste of the market and my troublesome behavior and weaknesses were clear to me. This is why I became so engaged with what was written because I could directly relate to many of the topics discussed. Brett gets a message across like no author ever could by his various approaches to teaching lessons, such as, informative research/studies, story telling, techniques of all sorts to deal with destructive patterns and what steps can be taken to first identify them as well as the adjustments needed to ensure progress. In my opinion, this book will be most helpful for those who have had a taste of the markets and wish to make very meaningful changes to their behavior. "Success in trading is related to the ability to stay consistent and plan-driven. Traders fail not because of their emotions, but because their emotions deflect them from their purpose. In developing their rules and systems, the successful traders had found a way to immunize themselves from the emotional effects of market volatility. Indeed, in many respects, the successful traders appeared to be every bit as fearful as the unsuccessful ones. It's just that the fears of the successful traders were not of those draw down or missing a market move. Rather, they feared deviating from their plans. Dedication to their purpose was the cornerstone of their success" - Brett N. Steenbarger, PhD

Very Solid book on Advanced Trading Psychology, he actually addresses your psychological needs like a Therapist not like some other books that just tell you to write down this and write down that and write down everything without showing you how to actually address the problems. I highly recommend

Copertina flessibile e stampa di qualità economica, sgranata e molte pagine storte. Editore che ricarica 50€ per un libro che sembra stampato in copisteria. Sembra che ogni libro marchiato Wiley arrivi con gli stessi problemi.