Ahhh. I knew I could find a good thread here on ET. I snuck in late at night when no one noticed. Good recommendations for reading. TY.
Every single one of the books mentioned in this thread is excellent. I will tell you this - your subconcious mind is telling you quite a bit that many ignore. Learn to listen to your dreams and be 100% truthful with yourself at least about them, and during your waking hours walk and talk the truth. If you educate yourself about theories of the mind, and learn to be your own best friend, always being objective with yourself and at the same time forgiving, and you learn to follow the truth no matter where it leads, you will discover yourself and then it is you who are ready to write these books. And here is the bonus, when it comes time to react, you will react 100% instinctively, _instantly_, because you know that your actions come from the deepest parts of who you are and you no longer have to think about them. That is a part of Zen. If none of that makes sense to you, you are on the first step on a wonderous journey. I will mention one more book because it is not likely to be mentioned here: http://www.amazon.com/exec/obidos/A...r=2-1/ref=pd_bbs_b_ur_2_1/102-8584047-5039303 Take this book very lightly. Do not treat is as gospel because much of it is likely to be wrong, but listen to it's message and decide for yourself where it applies in your life. This can be taken as the genetic basis for psychology, something that is rarely explored. Then, think about how this book applies to what I said above. Quite a contradiction eh? Never let a contradiction get away so easily. Most of the greatest knowledge lies within them. nitro
nitro made a comment on another thread a few weeks ago that, to me, encapsulates a major and inherent contradiction in trading. from: http://www.elitetrader.com/vb/showthread.php?s=&postid=784094#post784094 take care and gtty - omni
I think this is the real question. Though more easily said than done, your own emotions/psychology should play no part in your trading. Rather, you should be making money off of the emotions of others. Of course, this only works if one has a trading plan and sticks to it.
I think most of us go through a cycle. We first are drawn to trading for the money. Then we are humbled and humbled and realize that "we don't know what we don't know". Those that survive this very early stage financially and mentally will set out on a path. It is different for everyone. We learn all about technical indicators, etc. , maybe fundamentals or the weather, but in the end you will finally realize that you need to learn more about yourself than any of these things. I almost see this as a final stage to development. I am finally starting to realize that I have learned to lose and I'm okay with it. I sweat less and breathe a normal when I trade now. I know my purpose and I have a plan. I'm a survivor. I used to laugh at traders who read all these books about psychology, but now I am trying to absorb everyone. I appreciate the insight here and especially the links to the books and information. Take care and enjoy the journey. VT
hey nitro - so i want some of this zen gig doing down. do you know of any good books that cover the zen ways? in general terms that is - not necessarily trading zen books. i looked on amazon, but it just spat out about 20 books. i remember some kids at school reading zen & the art of motorcycle maint', but i was in the dumbo class and we werent supposed to read that stuff (i thought it was a story anyhow). now ive left school i can read what i like (porn mostly) cheers fred.
Yes, only those who have completed most of the trading journey can look back and truly appreciate the significance of such books...
your question was directed at nitro, but i am listing a couple of zen related books that, though i have not read, came highly recommended: http://www.amazon.com/exec/obidos/t...f=sr_1_2/103-6912069-8613434?v=glance&s=books http://www.amazon.com/exec/obidos/t...f=sr_1_1/103-6912069-8613434?v=glance&s=books http://www.amazon.com/exec/obidos/t...f=sr_1_5/103-6912069-8613434?v=glance&s=books i know there are others, but these three seem to be the ones i most frequently hear about. hth take care and gtty - omni BTW: for your other interest, you might check out: http://www.amazon.com/exec/obidos/t...t_1/103-6912069-8613434?v=glance&s=books&st=* or http://www.amazon.com/exec/obidos/t...1/ref=cm_lm_asin/103-6912069-8613434?v=glance
The "zen and the art of archery" was not very good. Came highly recommended as a zen/trading book. Sorry, but I didn't see the connection. But then again it was my first "zen" book and maybe I was not very zenlike as I read it. Or maybe it just sucked?