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Best Trading Psychology Books

  • #21
  • Nov 11, 2010 11:06pm Nov 11, 2010 11:06pm
MY favorite book. The book that helped me understand market manipulation and how to trade with the trend.

Reminiscences of a stock operator. Even though it's a story there are a lot of very important psycological tips.

Favorite quote from the book

It's a bull market ya Know!

refering to his friend that wants to take his profits early on a trade.
My trades are 100% profitable 65% of the time!
  • #22
  • Nov 12, 2010 12:53am Nov 12, 2010 12:53am
my list for a beginner to read would be ( or for any trader really)

in this particular order

1. mark douglas- the disciplined trader
2. mark douglas- trading in the zone
3. martin pring - investment psychology
4. john carter - mastering the trade
5. tharp, van K- trade you way to financial freedom.


the last 2 arent forex related but still have good psychology/ money managment chapters.
  • #23
  • Nov 15, 2010 8:37pm Nov 15, 2010 8:37pm
Quoting bdan
my list for a beginner to read would be ( or for any trader really)

in this particular order

1. mark douglas- the disciplined trader
2. mark douglas- trading in the zone
3. martin pring - investment psychology
4. john carter - mastering the trade
5. tharp, van K- trade you way to financial freedom.


the last 2 arent forex related but still have good psychology/ money managment chapters.
thanks
Okay, let's have fun...
  • #24
  • Jan 21, 2011 7:18am Jan 21, 2011 7:18am
Beyond Greed and Fear - Hersh Shefrin
Exceptional Trading - Ruth Roosevelt
Fooled by Randomness - Nassim Taleb
How to Control Stress to Become a More Successful Investor - Van K. Tharp
Investment Madness - John Nofsinger
The Disciplined Online Investor - Steven Hendlin
The Disciplined Trader - Mark Douglas
The Mentally Tough Online Trader - Robert Koppel
The Mind of the Market - F. J. Chu
The Psychology of Risk - Ari Kiev
The Tao of Trading - Robert Koppel
The 21 Irrefutable Truths of Trading - John Hayden
The Way of the Warrior Trader - Richard McCall
Trading in the Zone - Mark Douglas
Trading in the Zone: Maximizing Performance with Focus and Discipline - Ari Kiev
Trading, Sex, and Dying - Juel Anderson, David Caplan
Trading to Win - Ari Kiev
12 Habitudes of Highly Successful Traders - Ruth Barrons Roosevelt
Winning the Mental Way - Karlene Sugarman
  • #25
  • Feb 9, 2011 5:26pm Feb 9, 2011 5:26pm
Pretty useless books.

You might enjoy checking out something like "Trading in the Zone" by Mark Douglas, but don't expect these trading psychology books to teach you anything you couldn't have really figured out on your own. All that trading "wisdom" they claim to be revealing is nothing but commonsense really.
  • #26
  • Feb 9, 2011 5:32pm Feb 9, 2011 5:32pm
I got the psycology down: that i'm sure of.

trade like its not real money. if you lose all your cash.....who gives a sh**, i just want to make the right decision, dicipline in your technique, analyze yourself, have a plan. always ask yourself why you are on this trade and if your position is justified.
AVT INVENIAM VIAM AVT FACIAM
  • #27
  • Feb 10, 2011 6:15pm Feb 10, 2011 6:15pm
I used to read about other traders too.

All the people in this thread that have said books are a waste of time seem to have been ignored.

Study the charts (it may take years), work out your own strategy, many useful threads here in FF.

Once you learn to trust your strategy fear and greed (psychological gremlins) will be gone.

Believe in your own favourite method and learn to trade it, fibs, mas, ew , it doesn't really matter, if it works for you that is fine.
  • #28
  • Feb 11, 2011 7:28am Feb 11, 2011 7:28am
Quoting jag1966
I used to read about other traders too.

All the people in this thread that have said books are a waste of time seem to have been ignored.

Study the charts (it may take years), work out your own strategy, many useful threads here in FF.

Once you learn to trust your strategy fear and greed (psychological gremlins) will be gone.

Believe in your own favourite method and learn to trade it, fibs, mas, ew , it doesn't really matter, if it works for you that is fine.

Hey Jag1966

Everyone's a bit different, some are mentally not that strong and they better read materials on trading psychology.

What you said is essential but trading psychology should not be ignored
  • #29
  • Feb 11, 2011 8:09am Feb 11, 2011 8:09am
Quoting buccas13
Hey Jag1966

Everyone's a bit different, some are mentally not that strong and they better read materials on trading psychology.

What you said is essential but trading psychology should not be ignored
Haha yes, point taken.

It is because I AM a psychological mess that I had to work out a mechanical method to trade by ;-)
  • #30
  • Feb 12, 2011 6:34am Feb 12, 2011 6:34am
Great book ! > Trading in the Zone ; Mark Douglas
  • #31
  • Feb 18, 2011 6:29am Feb 18, 2011 6:29am
I would recommend ^Trade With Passion and Purpose by Mark Whistler

solid read, but when you get to the point when you got the psychology side undercontrol and when markets
tends to give you hard times i read a couple of chapters from the book ^Market Wizard by Jack Schwager.

Stories from world's best gets you motivated and back on track.
  • #32
  • Feb 18, 2011 8:33am Feb 18, 2011 8:33am
Quoting go4pips
Brett Steenbarger has written a few excellent books on trading psych....they are available at Amazon.com. All traders would be well advised to read them.
+1 for Steenbarger. My fav is "The Daily Trading Coach". Also liked "One Good Trade" by Mike Bellafiore.
  • #33
  • Feb 18, 2011 9:37am Feb 18, 2011 9:37am
Well in my mind the psych you need is a happy and optimistic outlook on the future and a strong belive in yourself and sometimes your invisible friened - so I would recommend anything with Calvin&Hobbes,

Have a nice weekend
  • #34
  • Feb 21, 2011 2:51am Feb 21, 2011 2:51am
Robert Kiyosaki - Rich Dad Poor Dad !!! I would say this is the best book I have ever had. Unfortunately, I don't use this knowledge in real life - don't know how to start. Everything is very very simple: don't spend more than you make.
  • #35
  • Feb 21, 2011 5:00am Feb 21, 2011 5:00am
Quoting Donnald
Robert Kiyosaki - Rich Dad Poor Dad !!! I would say this is the best book I have ever had. Unfortunately, I don't use this knowledge in real life - don't know how to start. Everything is very very simple: don't spend more than you make.
This is no the only one book by Robert Kiyosaki I can recommend to read.
  • #36
  • Apr 11, 2011 8:39am Apr 11, 2011 8:39am
Probably depends on what gaps in knowledge you're looking to fill, and your attitude towards trading.

Personally i really didn't like the books by Douglases and Elders.. too much text on why everything is incorrect in between the useful stuff.

I've read 2 Brett Steenbarger's books, and think they're excellent (Enhancing Trader Performance and The Daily Trading Coach).

The other book id recommended without hesitation is Technical Analysis of the Financial Markets by Murphy, very easy read, taught me what a trend was.

The only other resource which i've found excellent is the 'school' section on www.babypips.com, covers one of everything, though its probably better if you have some experience.. the content is gold, but may be a bit too sparse if you're just starting out. Good for filling gaps after some practice.
  • #37
  • Aug 1, 2013 5:49am Aug 1, 2013 5:49am
hello everyone maybe this can help https://www.dukascopy.com/fxcomm/fx-...n=read&id=1467
  • #38
  • Jan 16, 2022 9:18am Jan 16, 2022 9:18am
Trading the forex or other markets doesn’t have anything with pain, psychology or improvement: the only law is: if you know, you win, if not you lose!

You who have already lost everything and are looking for a way to get your money back, stay away from all the EA’s, indicators, softwares as Metatrader, Jigsaw, Sierra, Bookmap and all other. Understanding the options on the futures is the only thing that will help you efficiently. You ‘ll never find anything to help you on forex website.

Finally, think about that: universal access to financial markets is a huge opportunity to get rip off millions of naive people! YOU JUST GIVE LIQUIDITY TO THE MARKET MAKERS VIA YOUR BOKER !
  • #39
  • Jan 19, 2022 3:52am Jan 19, 2022 3:52am
No book will teach you how to control yourself, but they can provide guidance.
  • #40
  • Jan 21, 2022 5:29am Jan 21, 2022 5:29am
Quoting St.Sarah
{quote} sorry for posting here, but i'm newbie here and can't start my own thread. guys, do you know some good books for the very beginner? thanks
Try to search the forum, there are many threads dedicated to books. One will definitely suit your taste.
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