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

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


  1. This was really informative and eye opening towards my thought on building psychology

    i appreciate it man :)
     
    #11     Sep 7, 2021
    Charts and Arts likes this.
  2. will put this on my list
    thank you
     
    #12     Sep 7, 2021
  3. zghorner

    zghorner

    I think reflecting on your weaknesses and then researching them individually is a good idea. For example, greed is one i have struggled with...so i will search for greed related to trading but also just the issue of greed as a stand alone.

    Also stoicism is a great place to start...I recommend Epictetus above all others but each has something useful to say. They are all about emotional control, not getting too excited or too depressed...the ancient western version of "the middle way" of sorts.
     
    #13     Sep 7, 2021
    formikatrading likes this.
  4. As a long-timer and someone who has SO many trading books, with many on psychology, zghorner's comments are very relevant because too often folks look for a book to solve their issue when it's really about self-awareness, being present and then overcoming any negative tendencies you may have. And sometimes it's not about psychology at all -- it's just that your process isn't good enough to really give you an edge and the confidence to trade it.



     
    #14     Sep 7, 2021
    zghorner likes this.
  5. zdreg

    zdreg

    The sentence sounds like a contraction to itself. Please explain what process you are referring to. If you don't have an edge all the confidence in the world will not help you.
     
    #15     Sep 7, 2021
  6. Maybe I could have said it better -- not looking to get into a debate or anything like that. It's just that confidence and other trading issues -- which seem like they are psychology issues -- can sometimes be attributed to the lack of a true edge -- even though one might not recognize it as such.
     
    #16     Sep 7, 2021
    KCalhoun, zdreg and qlai like this.
  7. zdreg

    zdreg

    not contraction but contradiction
     
    #17     Sep 7, 2021
    formikatrading likes this.
  8. How to Make a Living Trading Foreign Exchange: A Guaranteed Income for Life by Courtney Smith. This is a good one that you can go for.
     
    #18     Sep 8, 2021
  9. So much of this whole "psychology" issue is recognizing your patterns -- the mental programs you're running in your head when you're trading -- are they serving you or getting in your way? But like I said before, sometimes "lack of an edge" or flawed beliefs / thinking / assumptions sometimes get thrown into "trading psychology" issues. For instance, a person may think they have a discipline issue but the underlying problem may be that they have no edge.

    I'm one who thinks talking to a trading coach can often be beneficial because they may uncover what's in your head that you don't realize and help you make some shifts in your thinking.
     
    #19     Sep 8, 2021
    Raheel Shaikh and KCalhoun like this.
  10. @formikatrading I understand what you are trying to say and I agree that most of the time what we feel as a lack of confidence is nothing more than lack of knowledge. The better prepared we are, the more confident we are going to be.
     
    #20     Sep 8, 2021
    formikatrading likes this.