Psychology Trading-Brett Steenbarger

I've never seen a trader succeed whose explicit or implicit goal was to not lose. The trader who
trades to not lose is like the person who lives to avoid death: both become spiritual
hypochondriacs.

No union was ever destroyed by a failure of romance. It is the loss of respect, not love, which
ends a relationship.

Love, once present, never dies. It must be killed.

Sometimes we select markets--and trading styles--much as we choose romantic partners: by their ability to validate our deepest-held images of ourselves. Our choices generally succeed, for better or for worse.

Many a trader fears boredom more than loss, thereby experiencing the two in sequence.
Goodness of character is measured in loyalty to others; greatness of character is measured in
loyalty to principle.

A measure of the soul: the degree to which the surpassing achievements of others evoke
inspiration rather than envy.

If you listen to the words, you'll understand the brains of the speaker. If you listen to the tone,
you'll understand his heart.

Show me what a man loathes, and I will show you what he cannot accept in himself.

Two traders: one increases size after a loss; the other gets smaller. Both continue to lose.
One encounters losing traders as often as one encounters losing golfers--and for much the same reason.

The absence of self-acceptance too often masquerades as the desire for self-improvement.

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Forex Essentials in 15 trades

To my brother and sister and those who ready to joint the adventure into the world of trading:this is the one-the best book I can recomend to you.

This book briefly explain the glossary of forex words,introduction of forex,what is pip,leverage,open position,margin,capital and thousand of terms that we must familiar with,in the journey of our trading....

No one should start any 'demo account' without reading this book first.

In brief it give us a description of what is a 'good trader' and how to achieve it:

The Good Trader

Good traders have firm control over their emotions.

Good traders never think of prices as too high or too low—they are
interested only in the direction of a market.

Good traders make evolutionary adjustments to their trade plans,
rarely revolutionary ones.

Good traders do not pyramid. Pyramiding profits is risky; pyramiding
losses is suicide.

Good traders—even part-time ones—consider trading a business, not
a hobby.

Good traders can tell when they are on and when they are off and never
trade if and when the latter is the case.

Good traders are prepared in advance for all possible market action
during a session. They may be wrong but are rarely surprised.

Good traders never trade just to trade but follow their trade plan and
trading heuristic consistently

Good traders understand the importance of good money management
and attitude.

Good traders trade only with money they can afford to lose.

Good traders take small losses and let profits run.

Good traders use stops and rarely pull them or change them after a
trade is entered.

Good traders do not anthropomorphize the markets. The markets are
never “out to get you.”

Good traders give the markets time to work. Once they take a position
they sit on their hands and wait for developments with both a stop
loss level and a take-profit objective established in advance.

Good traders know when to hold them, know when to fold them, know
when to walk away, and know when to run.

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PS:

Special thanks and appreciation to 'Bull Arief' for recomending this book...

Bollinger on Bollinger Band

Bollinger On Bollinger Band by John Bollinger :)
Rar 18.6MB No Password.
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The Discipline Trader

Excellent book from the author of Trading in the zone...

A must have book for every trader!

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Essential Technical Analysis by Leigh Stevens

WHOM THIS BOOK IS FOR

Some of these categories of individuals overlap and one person cannot always
be so easily defined, but the following are market orientations that
are common.

❙ Investors in stocks and mutual funds, including those who have a buy
and hold philosophy but who are open to learning the entry and exit
decisions that technical analysis helps provide. Mutual funds can be
charted like stocks also, and there are sources of closing prices you
can download every day if you use a computer. You can chart these
prices daily on graph paper also by using the financial press.

❙ Traders, including day traders and those who trade in and out of
stocks over time as opportunities present themselves. Chart patterns
and indicators work basically the same way whether seen on a 15-
minute, hourly, daily, weekly, or monthly chart. Traders are going to
tend to rely more on computers and Internet information.

❙ The average investor, who combines a bit of both investing time
frames and may combine elements of fundamental and technical or
chart analysis. And, by the way, it’s been shown that the average
holding period for stocks is now down to around 10 months.

❙ Someone who has no prior knowledge of technical analysis. I assume
at most that you have some familiarity with stocks, the market,
and have bought and sold stocks. You may not have shorted
stocks previously.

❙ People willing to put some time into studying the market and keeping
track of their stocks and mutual funds, relative to the market and
its sectors. “Never stop evaluating” tends to be the motto of top
money managers and traders.

❙ Pragmatists. Certain core technical analysis principles and precepts
show useful information about market trends, but cannot always be
demonstrated, proven, or even explained.
The fact that they do work
can be seen over and over, however. Those less interested in the theory
and more interested in what works and its practical use will find
technical analysis helpful.

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