12 Habitudes of Highly Successful Traders [Paperback]

Ruth Barrons Roosevelt (Author)

Book Description

Publication Date: June 1, 2001 | ISBN-10: 0934380740 | ISBN-13: 978-0934380744

Twelve Habitudes of Highly Successful Traders uncovers all the habits unsuccessful traders refuse to accept.

"Have you ever found yourself fully intending to do one thing and ending up doing quite the opposite? Or promising yourself you won't do something and going ahead and doing it anyway? Or wanting to do something but finding yourself not doing it? These are sins of omission and commission and mixed behavior."

Ruth Barrons Roosevelt, a futures trader and international psychological trading coach, shows traders how to recognize emotions, resolve conflicts and how to make good habits a second nature.

Are you the reason for your inability to be a prosperous trader? You may see an opportunity, have the courage to invest, and yet end up sabotaging the trade before fruition. She guides you into acknowledging your strengths and weaknesses and gives practical successful resolutions.

Ruth's first book on trading psychology, Exceptional Trading, is a well acknowledged success and this book should equal or exceed your expectations. The reader will want to review the book each year to assess his current trading 'habitudes' and make adjustments under her competent tutelage.

You get an extra bonus when you purchase this title or her first book. As you recognize your shortcomings and bad 'habitudes' in trading, you'll find you can apply them to your whole life. Along with owners of her first book, you will begin looking for another new title authored by Ruth Barrons Roosevelt.

Editorial Reviews

About the Author

Ruth Barrons Roosevelt coaches traders around the world to trading excellence. She is exceptionally well qualified to offer such guidance to traders, as she has extensive trading experience and is to this day an active trader. Her experience covers multiple time frames, from position trading in virtually every futures market, to active and intense intraday trading in currencies, T-bonds, and S&P futures. She has traded S&P's intensively and actively since inception of trading in 1984, down to and including 1 minute bars. Her trading experience also includes active trading of mutual funds.

She is a former Vice President of Prudential Securities and of Thomson McKinnon. From 1981 to 1986 she headed the International Moneyline trading desk at Rudolf Wolf (New York). Before that she was a stock and futures broker at Drexel Burnham Lambert where she broke records by opening 250 accounts in one month. A graduate of the University of Michigan Law School, she is a member of the New York and California Bar Association. A frequent contributor to "Technical Analysis of Stocks and Commodities," she writes articles on the psychology of successful trading. She is the author of "Exceptional Trading" and co-author of "Living in Step" (McGraw-Hill, 1976). As founder and director of the Wall Street Hypnosis Center, she works with Wall Street professionals to achieve their optimal effectiveness.

Ruth has appeared on numerous national and international television programs including: CBS, NBC, CNN, and WWOR Evening News, CNBC, NBC The Today Show, Good Morning America, Japan Public Television, Nippon Television, Hungarian Public Television, Finland Television Channel 3, and the David Letterman Late Night Show. She has been profiled for her work with traders in Business Week, Barron's, The New York Times, New York Magazine, The Independent of London, the Toronto Star, and many other publications.

Product Details

• Paperback: 103 pages
• Publisher: Wasendorf & Associates Inc (June 1, 2001)
• Language: English
• ISBN-10: 0934380740
• ISBN-13: 978-0934380744
• Product Dimensions: 8.6 x 6.7 x 0.3 inches
• Shipping Weight: 7.2 ounces (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #553,035 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

6 of 6 people found the following review helpful:

5.0 out of 5 stars The 12 habits of highly successful traders., September 13, 2009

By 

Steve Burns (Nashville, TN) - See all my reviews
(VINE VOICE)    (TOP 500 REVIEWER)   

Amazon Verified Purchase

This review is from: 12 Habitudes of Highly Successful Traders (Paperback)

This book clearly explains 12 habits you must develop to be a successful trader. These habits are developed through having the right attitude toward trading.

Preparedness-You must be prepared to trade, do not take trades with out the right thought put into the trade and methods applied to them.

Abundance consciousness-You must believe that there is plenty of money to be made in the markets, and you deserve to have your share.

Risk Taking-You have to take the right amount of risk for your profit goals but not put yourself in a situation of blowing up your account.

Thinking in Probabilities-You must trade in a way that gives you an edge in the markets. The odds should be in your favor.

Discipline-You must follow your own methods and strategies that give you that edge. Always follow proper psychology, risk management, and method.

Courage- You must have the ability to pull the trigger and make the trade. You can't paper trade and back test systems forever.

Accept Loss-This is the most important habitude, you must decide what price will let you know you are wrong and sell to stop your losses when that price is hit. Not doing this can lead to the destruction of your account.

Comfortable with Uncertainty-You must understand that anything can happen at any time in the markets, and accept that.

Optimism-You must have a positive attitude when trading.

Open-Mindedness-You must be open to all possibilities, and be able to change styles and systems when markets change.

Long Term View-You have to understand that each trade is only one among hundreds

and that in the long term your systems and methods will be successful and you will profit even after draw downs in equity.

Detachment-You must keep your self worth and ego separated from your trading. You are not your trades. You will trade better if your life is balanced.

The book does a great job of explaining why each of these habits are essential to success and how they tie together in the way a trader must think. You can learn these principles the hard way through losing money and time trading with the wrong mindset or you can just read this book, believe the author and follow her good advice. This book is short and to the point, it does not waste a page or a sentence, I believe the price paid will be worth it to beginning traders or those that need to work on their trading psychology. The book is small but the principles it teaches are huge.

5.0 out of 5 stars Psychology is the key to successful trading, September 11, 2011

By 

Michael G. - See all my reviews

Amazon Verified Purchase

This review is from: 12 Habitudes of Highly Successful Traders (Paperback)

This book did not receive much press, and is short in length. However it is powerpacked with the information every trader or investor needs to keep their emotions out the the way of their trading decision. It took me many years to learn this, and this is the best book for the money on the psychology of trading. Although more expensive, the other excellent book I recommend on this subject is Mark Douglas TRADING IN THE ZONE, also available from Amazon. Both get my highest recommendation. I have been trading and investing since 1993, and they are the best I have seen or read. I purchased both of these top rated books, in my opinion, from Amazon.com because they have the best prices and widest selection.

7 of 16 people found the following review helpful:

5.0 out of 5 stars Teaches the mental skills necessary for a good trader, October 17, 2001

By 

Midwest Book Review (Oregon, WI USA) - See all my reviews

This review is from: 12 Habitudes of Highly Successful Traders (Paperback)

The price tag's expensive for a 100-page softcover with no spine lettering, and the audience is very specific - to traders expert at Wall Street stocks - but Habitudes Of Highly Successful Traders outlines 12 strategies for trading success and teaches the mental skills necessary for a good trader, from arranging for data and information to preparing goals. Some are simple ideas but all are geared to work together.