Can you recommend a course on trading psychology?

Discussion in 'Psychology' started by JerryTheTrader, Oct 28, 2021.

  1. Hi Traders,

    Can you recommend a course on trading psychology? What's worth buying? What specific solutions were you looking for?

    Regards
    Jerry
     
    murray t turtle likes this.
  2. Suggest starting with reading, "The Disciplined Trader" by Mark Douglas
     
    damnpenguins, tomorton, MACD and 2 others like this.
  3. Raheel Shaikh

    Raheel Shaikh Sponsor

    For starting off with books the best one I've read is Trading in the zone.

    TBH, The best psychology Course is the market experience.
    you can read and watch as much as you want but the only way you understand it well is by putting it into action and doing it live
     
    damnpenguins, KCalhoun, MACD and 2 others like this.
  4. wrbtrader

    wrbtrader


    Trader Psychology Books


    https://www.google.com/search?q=Best+Trader+Psycholoogy+Books

    Cognitive Decision Making Books

    https://www.google.com/search?q=Best+Cognitive+Decision+Making+Books

    Books alone will not get you across the finish line if you have serious psychological issues while trading. Thus, you'll eventually need to see a psycho-therapist or psychologist that works with those that work in the financial industry.

    wrbtrader
     
    JerryTheTrader and longandshort like this.
  5. Collagen

    Collagen

    There aren’t better lessons than some pain in the market. Sadly this come with mistakes .
     
  6. wrbtrader

    wrbtrader

    Lessons are obviously helpful but they often don't resolve nor teach you how to manage personal issues that continue to sabotage your trading.

    I know a successful trader of many years that almost lost it all after an ugly divorce. In addition, I know another successful trader that couldn't stop sabotaging his trading months after the death of his wife & son in a car accident.

    Both eventually needed the help of a psycho-therapist to help them to get through the pain so that they could get back to earning an income. One eventually need to get a job and be around people (in person) because the lone trader was no longer suitable for him as a career.

    This is a Pandemic, it's already known that mental illness is UP substantially. Now add that on top of the stress from trading...there are some serious issues occurring for traders especially new traders that enter trading in the past year or veteran traders that really weren't profitable prior to the Pandemic.

    wrbtrader
     
    Last edited: Oct 28, 2021
    qlai likes this.
  7. I've listened to mark Douglas's teachings. And although he has a lot of valid points, he never goes in depth about how to control your emotions. What you'll hear is "when a stock reaches a certain point you have to sell!" And that's pretty much all you will get from his speeches.

    The best way to learn is from personal experience. Just start by trading small amounts of money that you don't care about. Take 10 dollars and see if you can turn it into 11 dollars. What's the worst that can happen?

    Or you can be like all these other fools paying thousands on classes about "how to train your emotions":rolleyes:
     
  8. Leob

    Leob

    You can't eliminate emotions.
    You must build system and style that feat you.
    Feat system actually prevent you to get into uncontrolled emotions state.
    You must believe in your system. Mentally it's much easier to believe then control.
    For long run day trading control is not the tool.
    Only flow!
     
  9. danielc1

    danielc1

    I find the work of Van Tharp very good.
     
    nursebee, murray t turtle and Leob like this.
  10. deaddog

    deaddog

    Check out Brett Steenbarger;

    Ultimately it's all on you. The fact you realize that you might be the problem puts you miles ahead of most.
     
    #10     Oct 28, 2021
    tomorton and thewallstreetnow like this.