What books shaped your trading mind?

Discussion in 'Psychology' started by crgarcia, Sep 30, 2009.

  1. Bar by Bar, Al Brooks.
    Trade Chart Patterns like a Pro, S. Duddella.
    Read the Greed, Mike Reed.
    Illusions, R. Bach
    The Nature of Personal Reality, Seth.
    Beyond the Winning Streak, L. Dahl.
     
    #11     Sep 30, 2009
  2. loza

    loza Guest

    "How I Trade for the Living" Gary Smith

    Highly unique and innovative way to play the market and have plenty of free time to relax and do other stuff.

    Most everyone, like lemmings go to day-trading or using the conventional ways of a supposed trader, seeing their ways in books, youtube, and of your yours truly ET....

    Garry made money and he could prove it too, unlike many board room operators, punters and gurus....
     
    #12     Oct 1, 2009
  3. Nassim Taleb books changed my view about trading.

    Fooled by Randomness: the title speaks for itself, you are jsut trying to find a pattern in mostly random data.

    The black swan: the unexpected WILL happen, so most traders blowup.

    Dynamic hedging: I've only read some parts of it, it goes too deep into exotic options.
     
    #13     Oct 1, 2009
  4. ' Elliott Wave Principle: Key To Market Behavior ' Frost / Prechter

    the book is not about trading, it's about the analysis of the price-time movement of
    financial instruments; it motivated my own research and the combination of the two
    has provided me with the means to trade profitably
     
    #14     Oct 2, 2009
  5. I read zillion books on trading. I spared none if it is remotely helpful. After while, I stopped reading them, because they are prety much useless if not harmful.
    One book that I read and directly profited from it was a book on scalping. I forgot the title, but it was no longer relevant because it relies on fractional price.
    The second source of useful information is the ET.
    The best source of information is my backtesting, which destroyed a lot of myth and I found out almost all but few things do not work.
     
    #15     Oct 2, 2009
  6. drcha

    drcha

    Faith: Way of the Turtle
    McMillan: Options as a Strategic Investment
    McMillan: McMillan on Options
    Gibson: Asset Allocation
     
    #16     Oct 2, 2009
  7. Wow, what has influenced me the most as a trader in terms of books?

    Rich Dad Poor Dad by Robert T Kiyosaki
    Thing Big and Kick Ass by Donald Trump
    Beginners guide to short term trading by Toni Turner
    How to trade for a living by Alexander Elder
    The Science of Getting Rich by Wallace D Wattles
    The Bible


    Rich Dad Poor Dad shaped my mindset of relying upon myself and not on an employer. When you actively you work for someone you trust them to keep you around. I have a mindset of not trusting people anymore and likewise I won't act like I'm trusting someone by working for them.

    Think Big and Kick Ass taught me to think big and be passionate about what you do. It mentioned the importance of relying on your instinct and how you have to be passionate about what you do. It also mentions that you can't trust people EVER and that it's a lion's nest out in the real world. That Shaped my mentality in a very large manner.

    Beginner's guide to short Term Trading influenced me by giving me a general guide on Support Resistance levels. Technical indicators and principles in an easy manner. I understood this book easily and it made much more sense than a lot of other books that try to approach the same subject.

    How to trade for a living is another book that taught me much more about technical analysis. Principle and strategies that I can apply to my trading. However, every time I listen to the audio format of this book I constantly think and analyze how I recently used these principles/ideas or how I can use them in future instances.

    The Science of Getting Rich shaped my belief that I can become rich and without fail. It's an inspirational book that talks about how you can do things in a way that will guarantee wealth creation. It does not talk about theories but facts and reality how your thought can affect your psychology and your paradigm.

    The Bible has influenced me because it has drawn me closer to god. It makes my thoughts much more disciplined and my perspective intro and extrovert as well.I can look within myself and analyze myself but I can also analyze my surroundings. I have learned about many stories and how greed can tarnish good will. But I also learned how money is for protection and how you should have a balance in life. Overall I think the bible produces a lot of value for those willing to read and actually understand it. Currently I'm studying the book of Proverbs.

    These are the books that I have read that have shaped my mind, in an innumerable amounts of ways. However, memorizing facts from a book is useless. The most important ability to a man and a trader is their thinking ability. When you analyze and apply knowledge in real life circumstances you will achieve 1000 times more than what you can achieve by sitting in a class room theorizing.

    Trading is an applied science, you learn from doing trades and making mistakes in the markets. I guarantee you :) you will achieve the highest pier of your success when you don't quit and you constantly apply what you learn. It's a compounding affect just like compound interest except the value you receive from this compound interest can earn you a much larger ROI than any other investment in a stock or property the ROI from working on your brain is the largest investment anyone can make and they should constantly pursue intellectual riches. Because the only time you grow old is when you stop learning.
     
    #17     Oct 3, 2009
  8. Seriously? You act as if because you read someone else's thoughts you automatically lose the ability to form your own opinions and think for yourself.

    I think the fact that I have my own opinion after allowing my head to be the arena of YOUR thoughts proves you wrong.
     
    #18     Oct 11, 2009
  9. The Market Wizards Series - showed me that success was absolutely possible

    Any of Ari Kiev's books regarding the psychology of trading, Hedge Fund Masters in particular was a great read. I have his newest release on pre-order on Amazon.

    The Jesse Livermore biography was great.

    How to Make Money In Stocks - William O'Neil

    How to Make Money Selling Stocks Short - William O'Neil (I may have the title wrong)

    Bernard Baruch's autobiography was a good read. I don't know if it has contributed to my trading at all. It definitely has contributed to the goals that I set for myself.
     
    #19     Oct 11, 2009
  10. "The Disciplined Trader" by Mark Douglas is a very good book regarding trading psychology.
     
    #20     Oct 11, 2009