Showing posts with label Trading Psychology. Show all posts
Showing posts with label Trading Psychology. Show all posts

Nov 8, 2009

Left Brain Trading



I'm not going to talk about 'anatomy' of the brain,as you might think....(as I show you the above picture)

No.Not at all.
It is about 'left brain trading'.The use of the left brain for trading.
As I quote from the book:

"When you start trading forex,its like trying to navigate from the middle of a foreign city where no one speaks the same language.The road sign are confusing,the map unreadable and you can not even see the stars because they are obscured by the tall buildings.

Left brain trading technique acts like helicopter that lifts you into the sky.
You can see the whole city laid out below you.
You can see the best routes to take and your direction is clear."

Hm very nice isn't it?
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Sorry no more download link.....

Jul 5, 2009

Stock Market Wizards




Stock Market Wizards: Interviews with America's Top Stock Traders


Newcomers to Jack Schwager's series on top traders, as well as fervent fans of his first two entries Market Wizards and The New Market Wizards, will find that Stock Market Wizards offers another revealing look at a wide spectrum of trading styles through the eyes of 15 extraordinarily successful individuals.

Transcripts of incisive Q&A sessions between Schwager and traders--including Michael Lauer, Dana Galante, Alphonse "Buddy" Fletcher Jr., and Claudio Guazoni--examine the ways each approaches their specialty, whether it be value stocks, mutual funds, short-selling, options trading, or other market niches. After brief but interesting introductions that place the subjects' trading practices into perspective, Schwager coaxes from them penetrating observations on setting goals, finding opportunities, learning from mistakes, and operating on a day-to-day basis. While some participants refuse to divulge proprietary practices, and Anthony admits that many traders' activities hold little relevance to individual investors, the basic doctrines nonetheless contain nuggets of wisdom that can be applied by many nonprofessionals. And, in the final "Wizard Lessons" chapter, Schwager details the 65 overarching principles (such as Trade Your Personality, Be Willing to Take a Loss, and The Importance of Setting Goals) he culled from these extensive conversations.


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Jun 1, 2009

I. Toshchakov - Beat the Odds in Forex Trading: How to Identify and Profit from High Percentage Market Patterns (Wiley Trading)



Publisher: Wiley
Number Of Pages: 224
Publication Date: 2006-07-28
ISBN / ASIN: 0471933317

"Beat the Odds in Forex Trading provides traders with tremendous value by disseminating the trading methods and philosophy of one of the most remarkable Forex success stories since Soros."
--Alexander De Khtyar, President, Forex International Investments, Inc.

Add certainty and systematization into Forex trading with this practical approach. Author and industry professional Igor Toshchakov shows how recurring market patterns--which can be recognized on a simple bar chart--can be successfully used to trade the Forex market.
Written for traders at every level, this valuable resource discusses the challenges of developing a trading method, while revealing the Toshchakov's approach to the market--both from a philosophical and tactical point of view.

You'll discover specific trading strategies based on recognizable market patterns, get detailed information on entry and exit points, profit targets, stop losses, risk evaluation, and much more.


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May 26, 2009

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.

May 23, 2009

The Discipline Trader


Excellent book from the author of Trading in the zone...
A must have book for every trader!

Apr 29, 2009

Trading Without Gambling



What this book is all about is how to reduce the gambling aspect of trading.
Many people perceive trading as nothing more than a gamble. And to
many traders it is. But there are many traders, who year after year and
month after month make money trading. They have learned how to separate
gambling from trading and their results show that it is possible to
do. I believe anyone can do it as well if they are willing to do the work
it takes. For me, that hard work is developing and trading with a plan.
There is probably no greater tool you can have then a proper, well thought
out plan.

When I talk about plans I refer to two types, the trading plan and the
game plan. Though they work together, they are two different creatures
that rely on each other to work. A good trading plan with no game plan
won’t work.

That’s like Pedro having the best fastball and curveball in
world but not knowing when to throw them or who to throw them at. On
the other hand, without a trading plan, a game plan is not nearly as strong.
It’s like Pedro deciding he needs to throw a knuckleball in a tough situation,
but realizing too late he never learned how to throw one. But once he
gets both of these plans working together, he can win a lot of games and
be the superb pitcher he is.

This holds for traders as well. The main reasons for having these plans
are to ensure you make smart trading decisions all the time, to help you
exit a trade and to make sure you know what you are risking and how
much you stand to gain prior to making a trade. Without the aide of plans,
you are starting behind the eight ball. Your chances of succeeding are so
much smaller if you are trading haphazardly, as opposed to when you have
a proper plan to guide you.
Throughout this book you will see just how
important a trading and game plan will be in making you a better trader.
I’ve traded with and without a trading and game plan, and I know for sure,
my results are exponentially better when I have the guidance of a proper
plan behind me.


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Apr 11, 2009

Market Masters:How Succesful Traders Think



Bernstein, author of The Investor's Quotient , is the president of a Chicago commodity advisory firm specializing in cyclic analysis, forecasting and personal psychology for traders in a notoriously precarious market--the buying and selling of contracts for future delivery of crude oil, pork bellies, eggs, grain, Treasury bonds and foreign currencies.

He does not deal here with actual Board of Trade operations or even with the many trading systems because, he notes, the trading system is no better than the trader who uses it. Instead, through eight interviews with successful participants in a business that can generate millions in gain or loss overnight, Bernstein emphasizes the importance of such essential trader characteristics as studiousness, persistence, courage and decisiveness.

Clearly the guide is not designed as a vade mecum for beginners, but it is a useful commentary for those already engaged in sophisticated investment activity.

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Mar 22, 2009

Trading to WIN



Another 'Old Collection' of Psychology Trading book.
Add this book to your trading arsenal.

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The Intelligent Investor



Not sure if this book is belong here.It supposed to be in 'investment' category,but I am pretty sure it worth to read!Indeed,this is best seller investment book:

The Intelligent Investor may be the most important book you will ever read on making your investments a success.

"The Intelligent Investor is the best book ever written for the stockholder," says author and investment counselor John Train. Benjamin Graham's classic work offers sound and safe principles for investing-principles that have worked for more than forty years since the first edition was published. With an introduction and appendix by Warren Buffett, one of Graham's most famous students in investing strategy, this book takes account of both the defensive and the enterprising investor.

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Mar 17, 2009

The Markets Never Sleep



The world's financial markets operate twenty-four hours a day. During virtually every hour of the day and night, someone, somewhere is trading—yet many U.S. traders seem oblivious to that reality, focusing only on the day markets in Chicago and New York.

Beginning the trading day with the opening bell of the NYSE, says veteran trader Thomas Busby, is like showing up for your eight-to-five job around two in the afternoon—you are very late. As he explains, trading is a twenty-four-hour game and those who understand that fact will be in a better position to limit risk, increase their trading opportunities, stay on the right side of the action, and be more consistent and profitable.

In The Markets Never Sleep, Busby reveals how you can use modern technology to take full advantage of the twenty-four-hour nature of the markets. He lays out the basics of how global markets work and explains the significance of understanding global connections and why traders need to know them, showing how to think globally and stay alert to any major geopolitical or economic event.

Download & read more.

Mar 16, 2009

The ART of Trading: Combining the Science of Technical Analysis with the Art of Reality-Based Trading



An expert in the field of finance reveals his proven trading system

As a trading coach and financial advisor, Bennett McDowell has used his own proprietary trading system--Applied Reality Trading or ART to enhance the performance of his clients' portfolios. Now McDowell outlines the unique benefits of his system and makes the case for trading the reality--not the fantasy--of financial markets.

Readers will discover the importance of simplicity in a trading approach; how to develop "The Trader's Mindset;" how to use ART(r) technical analysis software; and much more.
The ART of Trading will enlighten readers in how to use reality to enrich both their financial portfolio and their own financial psychology.

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Sep 22, 2008

About Zero Sum Game

The Winners and the Loosers of the Zero Sum game.

Interesting book.
Lawrence Harriss.
Professor of Finance.
School of Business Administration.
University of Southern California.




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Jul 28, 2008

28 Trading Rules That Work



The very basic rules every trader must master...


Have been 3months I didn't up date this blog....
Hope everyone in a good shape and have a pleasant time.

As usual,hosted in
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May 18, 2008

The Essential Of Trading



Preface:
This book started with the intention of providing university finance
and economics students with a practical, real-world resource they
could use to learn about trading the financial markets. While structuring
the text, I had in mind the length and progression of a standard college
semester-long course. In fact, even before I started putting it all into
book format, the contents and presentation that follow were successfully
applied in a series of university level graduate and undergraduate financial
markets and managerial economics courses.

Anyone who has been through a finance curriculum knows that most
modern financial coursework is biased toward application in an institutional
environment. It does not provide much direct use to the individual
in terms of personal investment, risk management, and/or speculative efforts.
This text seeks to take a different approach, one that focuses more
directly on the individual, but with institutional carryover application of
use to those who are, or eventually will become, involved in decision making
at that level.

That all said, this book was written for anyone and everyone. While a
general knowledge of the financial markets is useful, it is not required.
Most of the students with whom I have worked over the past several years
had some knowledge of things like the stock market, but they were complete
novices to actually trading. For that reason, this book starts at the
very beginning, so that no reader—student or otherwise—is forced to play
catch-up.

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Apr 30, 2008

Millionaire Traders



Millionaire Traders.
How everyday people are beating Wall Street at its own game.

Nice book from the author and Forex analyst Kathy Lien&Boris Schlossberg.

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Mar 26, 2008

Ordinary People Extraordinary Profit



You are about to embark on one of the most exciting journeys of your
career. . . .
Ordinary People, Extraordinary Profits shows you the
way to care for and nurture your investment capital.
This book is an outgrowth of information that I have presented to
many aspiring traders and investors to help them improve their trading and
investment decisions. With study and application, you will find that it can
help you, too.

No one cares more about your money than you do. Even qualified investment
planners and stockbrokers seldom have the time to focus on
your account as intently as you do. Taking complete responsibility for your
financial future is one of the wisest decisions you can make.
Your money provides you and your family with a certain lifestyle. Just
as you paint your home and change the oil in your car, it is prudent to learn
how to preserve your capital and work toward its growth.

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Jan 21, 2008

Warrior Trading: Inside the Mind of an Elite Currency Trader (Wiley Trading)




Among the thousands—perhaps millions—of traders in the
world today, there is an elite group who amasses immense fortunes.
It is these individuals, and the stories of their wealth and
the kinds of lifestyles they enjoy, who inspire millions around
the globe to partake in the greatest game on earth: trading in
financial markets. These individuals, through focused effort, a
constant search for knowledge, immense courage, and concentrated
determination, win out over the throngs of lesser traders.
They are the warrior traders.

After more than 20 years of trading
in global financial markets, and chatting and discussing markets
with the best warrior traders from New York to Switzerland,
I feel privileged to have learned a great deal. I feel even more
privileged to now have the opportunity to put down in these
pages some of the trading secrets I have discovered.


I say “secrets,” but this does not mean the concepts are difficult.
Perhaps like the most valuable gifts in life, they are really
self-apparent. Yet despite this, they are somehow unseen by the
majority. Even those who have discovered some of these secrets
usually end up drifting back to their previous, unsuccessful
trading styles. In fact, even the best of the warrior traders have
to constantly guard themselves against the tendency toward
complacency and even arrogance when profits have been growing
particularly well for a period. My hope is that the information
in these pages will quickly accelerate traders from beginner to warrior status;
however, it is important to realize at the outset
that this can happen only if warrior status is truly desired.
Once arrived at, the new challenge is staying there.
The most important warrior secret of all:
Your level of success in the world of
financial markets is entirely up to you
and has nothing to do with what the markets
are doing. There will always be bull
markets and bear markets. The occurrence
of good or bad luck, if luck exists at
all, evens out over time.

Great success
and the attaining of warrior trader status
come about as a result of commitment, a
never-ending willingness to learn, steadfast
determination, and that rare ingredient, a touch of humility.
Throughout the ages, all great warriors have had these same
characteristics.

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Jan 19, 2008

The Essentials of Trading : From the Basics to Building a Winning Strategy


The Essentials of Trading : From the Basics to Building a Winning Strategy (Wiley Trading)

As a psychologist who has worked with many professional and casual
traders, I have received numerous requests for reading material appropriate
for those just beginning their journey through the trading
world. With the publication of The Essentials of Trading: From the Basics
to Building a Winning Strategy, John Forman has addressed this need
most admirably. Intrepid souls considering the pursuit of the markets as a
vocation or avocation will find in these pages a lucid, engaging, real-world
account of what trading is all about.

John is the Content Editor for the popular Trade2Win web site, an online
community of traders. His familiarity with trading and traders, born of
this and his own direct market experience, is evident in his text. As an author
myself, I know how difficult it can be to write an introductory work
that avoids the twin perils of talking down to readers versus writing over
their heads. John navigates this path effectively, taking readers first
through the basics of placing trades and understanding how markets work
and then progressing to the development of trading plans, the implementation
of risk management, and the building of trading systems. His incorporation
of exercises and use of examples brings topics to life, maintaining
the interest of even the most hyperactive traders.

Link.

Trading for a Living: Psychology, Trading Tactics, Money Management


Trading for a Living: Psychology,Trading Tactics,Money Management.
By Dr.Alexander Elder.



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