Psychology Trading books - page 3
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It is all about Psychology! To win or lose
It is all about psychology!
Scratch your head. Try to remember your feelings when you put your last order? Your feelings and thoughts when the market went against you? And your feelings when you closed your position.
Many traders trade using technical analysis, or fundamentals, or even base their trades on politics, insiders tips, etc... But most of them have experienced, or experience every time the feeling described above.
The majority of traders even if they based their trades on true mathematical equations, trends, analysis, yet as soon as they enter the market they lose control of their selves and fall victims for their emotions. This causes losses and losses.
Trading is all about psychology. You need to be awake! You need to put all your feelings away. You need to open up your brain and eyes in order to understand the market behavior and recognize real opportunities to enter the market.
Regards
yanni
Welcome to My Fx Report - Live Forex Trading
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Psychology of forex trading or how your emotions can mess you up.
Hi
Most sites that offer advice on succeeding in the Forex market are going to point out to you that the biggest enemy you face is not the market itself, but rather your own emotions. This is true in just about any activity that involves financial risk. It is really not all that different from playing poker. If you go into it afraid of losing, then most likely you are going to lose. It is pretty much accepted that most human beings have an innate desire to prosper. This desire is what makes failure so frightening.
Regardless of how you make your decisions you need to proceed with confidence tempered with caution. Whether you use technical analysis or fundamental analysis or flip a coin, it really doesn't matter as much as developing your own investment strategy, and proceeding with it until you are sure it is working or failing. Do not take council of your fears, and bounce around with no pattern, overreacting to every setback. Nor should you grow overconfident and let a small temporary success lead you into foolishness. Remain constant and stick with your plan.
The Forex market has some peculiar emotional landmines that you need to be aware of, and need to avoid. You are dealing with the currency of foreign countries and how they are going to be valued against the currency of other countries, one of which is your own country. It is important to keep things in perspective. If you find yourself rooting for the USA and booing Japan like they are your alma mater's football team and its biggest rival, then you should not be investing in this market, but saving for tickets to the next Olympic Games.
Investment of any kind takes self control, and emotional stability, and Forex is no exception.
Trading in the Zone - Mark Douglas
I always heard that Trading in the zone is a good book.. though i don't have one yet but i always heard good comments about it..
Psychology Trading books
I went through about 30 forum posts on books and I found that these were the most highly recommended authors:
Mark Douglas
Jack Schwager
Richard Teweles
Nassim Nicholas
James Dalton
Edwin Lefevre
Brett Steenbarger
Larry Phillips
Alexander Elder
Van Tharp
Marty Schwartz
Linda Bradford Raschke
I've been searching for TradingMind Software by Jake Bernstein but cant find any working link, Pls kindly re-upload or post link if you have it. Thanks
Hi 4xtrader
I have "Trading in the Zone - Mark Douglas" .
http://www.loombo.com/dl/5977Hey guys and girls,
seriously it is an essential must read for every newbie. Realize that psychology is the most important point of trading above all even above money management which is a close second and finally your system development and technique which is bottom of the list.
Best wishes!
Scooby
I have read the book, trading in the zone, it's a great book
First of all many many thanks to share such a great list of Forex related books. forex books always help a learner to learn Forex and stocks with these books. If a trader still want to get more books about Forex,stocks,CFD and technical and fundamental trading then he can download more books here:http://forexbrokersaz.com/uk/books/
Re: Psychology Trading books I have read the book, trading in the zone, it's a great book
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