IMO the community would be well served by the availability of reviews of trading psychology books. I have in mind specifically the insightful books by Mark Douglas, much recommended by the traders with whom I correspond. Eddie Toppel's, John Hayden's and Justin Mamis' books deserve note, as well.
Good point on Justin Mamis.Interesting this specialist, writer Justin.[1] ''Years as member-trader for Phelan,Silver, an NYSE specialist firm''[2 Lots of daytrading] Also likes ''Daily Graphs'',sister company to IBD[3]Almost,but not quite as helpful as Market Makers Edge-Joshua Lukeman
I had passed up the Lukeman because of a mediocre review on SI. I'll look at it again if you think it's class. Thanks. IMO one good psych book is worth any 20 TA books.
Hypostomus,have any hippotamus size quotes from Mr.Hayden? [2]Joshua Lukeman [mostly TA],was the first one to explain to me [ why ]the trend may be your friend-''Newtons law of motion states objects in motion tend to stay in motion................................''[3]RAS="Reticular Activating System is a mechanism in your brain that determines what you observe and how you pay attention to it.Thr RAS attracts information to support what you are focusing on.''................................'' [4]Joshua lets the cat out the bag-''Four trading signals for spotting a trend''
Rather than quote, let me paraphrase. John Hayden said that everyone seeks certainty, variety, significance, and connectedness. As traders, we have no certainty, but variety in excess. We are utterly insignificant in the market, and often trade in isolation. Given that, it is clear why we have such a need for connectedness through such media as this.
Interesting,wondered if the writer of Dumb Money by Joey Anuff was a pen name or what?? [Hayden tends to be a good name ]