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

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

List Price: $45.00
Your Price: $29.70
Product Info Reviews

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Rating: 2 stars
Summary: A psychiatrist filling a book and naming it for traders
Review: Trading successfully is about maturity, discipline and knowledge. That's it. This book goes on and on basically repeating that. Listing examples of patients (non traders) who the author helped with their personal problems and then drawing analogy to trader's pitfalls. If you're good at decision making in general, disciplined and like to work hard and learn always, then you most probably will make it in the markets. I wouldn't recommend this book on a trader's shelf. You better off reading "Come Into My Trading Room". It asserts the same concepts without filling a whole book for it. It's not too bad for a casual read though but I wouldn't pay over $40 for it.

Rating: 5 stars
Summary: This book is the Ultimate Treatise on Trading Psychology
Review: Words cannot put to justice the astonishingly accurate, profoundly well-researched and lucidly written work of Dr. Brett. Using his real life clients as models The Good Dr. takes us on a journey through previously unchartered regions of the human psyche with painstaking detail. This book and the references contained in it set me on a path to self-discovery that I shall never backtrack on. I now see things with an awareness beyond which I ever thought I could attain.

It is really amazing as to how many people are sitting behind trading stations without the slightest clue as to the fiendish psychological challenges that trading presents to a human mind which is hard-wired to protect its ego at any and all costs. For those that are not brought up in an idyllic homestead with angels nursing their every psychopathological ailments trading is simply not somewhere to search for affluence and prosperity. As this applies to virtually everyone, those that intend to make money consistently must devote themselves to cultivating a superior level of self-understanding. Aspiring students of the markets must also increase their thresholds of pain exponentially since frustration & damper are the order of the day in this industry, at least initially.

The profitable trader must wield acute awareness, understanding of the underlying mechanism of the human brain and develop levels of self-discipline akin to the mythical Odysseus because the sirens of the market can be just as deadly. Dr Brett shows you step by step how the markets are relentless at exposing every one of our own individual emotional weaknesses, ferreting out every chink in our armor.Plentiful "screentime" and an objective mindset are the factors that go into the creation of a successful market player. Persistence without a doubt is the penultimate for it is their own painful battle scars that bring priceless wisdom to accomplished speculators.

This book should be on the shelf of anyone trying finish in the black on a consistent basis regardless of their level of sophistication. Thank you Dr. Brett for changing my life.


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