Any good books on trading and psychology besides Trading in the zone ?

Discussion in 'Educational Resources' started by Raheel Shaikh, Sep 6, 2021.

  1. Raheel Shaikh

    Raheel Shaikh Sponsor

    looking for some good reads that is useful for psychology development that helps in trading overall :)

    Any suggestions ?
     
    Charts and Arts likes this.
  2. Trading in the Zone and Disciplined trader are both good.

    Market Wizards series, Reminiscences of a stock operator.

    Trading psychology comes down to the discipline of sticking to your trading rules. Not losing discipline from when taking a string of losses. Or having a multi month losing streak.

    It also includes setting reasonable expectations. We all want a sharpe ratio > 3. Lots of profits and minimal drawdowns, but trading isn't that easy most of the time. Sometimes it is really easy and we get to print money, but most of the time it is a grind.
     
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  3. speedo

    speedo

    Yvan Byeajee has done some good work on the subject.
     
    volpri and zdreg like this.
  4. Thinking Fast and Slow.
     
    Nobert likes this.
  5. Psychology, in regards to trading/success, is very similar to maturity and wisdom and philosophy for a human being.

    It's not something a young person, or amateur person, can instantly, overnight, experience.
    Psychology/trading/success...comes with Time, a rather great, great, deal of time.

    Mastering one's own psychology...comes with personal experience and observation, and trails and tribulations.
    Psychology is a by-product of the time and dedication one has devoted to their craft.
    Who has better psychology, generally speaking,....a purple belt in Karate, or a black belt,

    Be careful, wary, of books. Keep in mind the author is spewing their own perspectives and propaganda and experiences, however right or wrong it may be.
    You have to develop, comprehend, and understand things from your own angle, mind and vantage point.
     
    Last edited: Sep 6, 2021
  6. deaddog

    deaddog

    upload_2021-9-6_11-34-21.png
     
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  7. Mercor

    Mercor

    https://www.kingjamesbibleonline.org/

    Sins
    People have always been immoral, shiftless, and self-gratifying. For ages, humankind struggled to find a conceptual system to operationalize their spiritual shortcomings.

    Pride is excessive belief in one's own abilities, that interferes with the individual's recognition of the grace of God. It has been called the sin from which all others arise. Pride is also known as Vanity.

    Envy is the desire for others' traits, status, abilities, or situation.

    Gluttony is an inordinate desire to consume more than that which one requires.

    Lust is an inordinate craving for the pleasures of the body.

    Anger is manifested in the individual who spurns love and opts instead for fury. It is also known as Wrath.

    Greed is the desire for material wealth or gain, ignoring the realm of the spiritual. It is also called Avarice or Covetousness.

    Sloth is the avoidance of physical or spiritual work.
     
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  8. I think this one is the best I have read. It does not go the psychological "mystic methods" like Douglas etc. Instead it provides a frame work to build your own version of psychological understanding of trading.

    Of all the books (+100) I have read, most I get one or maybe two things, this one has been the most powerful framework of all.

    Winning the Mental Game on Wall Street: The Psychology and Philosophy of Successful Investing: Magee, John, Bassetti, W.H.C.: 9780910944175: Amazon.com: Books
     
  9. zdreg

    zdreg

    The Eighth Sin by Stefan Kanfer It is a novel about life as a procession of The Seven Sins
     
    Last edited: Sep 6, 2021
  10. qlai

    qlai