The Investor's Quotient: The Psychology of Successful Investing in Commodities & Stocks [Paperback]

Jake Bernstein (Author)

Book Description

Publication Date: April 24, 2000 | ISBN-10: 0471383627 | ISBN-13: 978-0471383628 | Edition: 2

Praise for the classic guide to gaining a psychological advantage in investment and trading

"The Investor's Quotient is destined to go down in history as the ultimate book on investor psychology . . . it explains the psychology of a trader in clear and simple English . . . and it teaches highly effective methods designed to improve the bottom line . . ."-Larry Williams, author Long-Term Secrets to Short-Term Trading

"The Investor's Quotient is a welcome breath of fresh air in what has been a too-long-avoided subject-the psychological reasons why some people win and most others lose in the commodity markets. More than that, Jake Bernstein proves in this book he is an excellent teacher, and clearly and candidly shows how greater knowledge of yourself can become your most effective trading tool. It's a must for every trader's library."-Leon Rose, Publisher Newsletter and Managed Account Reports

"Should be required reading for all traders and investors. It has helped immeasurably through the years . . . I'd be lost without it."-Don Sarno, Former Director
Commodities Educational Institute

"This is the classic book on investor psychology. It has paved the way to a new era of investor success and self-confidence . . ."-Steve Moore
Moore Research Center

". . . convincing . . . This thoroughgoing manual should help impulsive investors save money."-Publishers Weekly

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Editorial Reviews

From the Publisher

Updated to reflect the needs and wants of traders and investors in the 90s. The author guarantees that if you are victorious in changing your personal psychology, your relationship with yourself and others, your perception with the markets, you will become more successful. Details how to recognize problems, evaluate potential solutions and apply those solutions consistently. --This text refers to the Hardcover edition.

From the Inside Flap

The Investor’s Quotient Second Edition Why do so many traders and investors—ones with sophisticated, powerful, and diligently applied systems—lose? For the answers and the solutions, look no further. This unique, fully revised guide to the psychology of trading and investing explains how, regardless of even the best system, the weakest link in the chain is always the trader—in particular, the trader’s self-discipline and self-control. To help you shore up your defenses, this authoritative but jargon-free mental toughness training manual offers a complete and highly effective investment psychology regimen that interweaves psychoanalysis, learning theory, social psychology, creative visualization, and hard-earned trading savvy. Turn here for all the rules and guidelines of Jake Bernstein’s exclusive brand of psychological trading techniques…models of successful traders to emulate…techniques that sharpen and make your perceptions of others and situations more reliable…tips on scheduling, self-discipline, and developing a positive attitude that will put you on the road to consistently profitable trading. For example, you’ll find techniques, insights, and explanations on how to…

• Lose less on bad trades, make more on profitable ones
• Learn from your failures what’s working for you, and what’s not
• Learn how not to be a slave to the market, and how to master the market by mastering yourself
• Find trading systems and methods that best suit your temperament, finances, and personality
• Determine your position as a trader—long-term, short-term, or otherwise—with a new confidence

You don’t have to have a genius’ intelligence quotient to realize the advantages Bernstein’s psychological trading techniques can give you. But you do have to have The Investor’s Quotient. That’s genius enough. --This text refers to the Hardcover edition.

See all Editorial Reviews

Product Details

• Paperback: 290 pages
• Publisher: Wiley; 2 edition (April 24, 2000)
• Language: English
• ISBN-10: 0471383627
• ISBN-13: 978-0471383628
• Product Dimensions: 6 x 9 x 0.7 inches
• Shipping Weight: 1.1 pounds (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (11 customer reviews)
• Amazon Best Sellers Rank: #961,498 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

16 of 16 people found the following review helpful:

5.0 out of 5 stars Indeed an excellent book!, January 27, 2004

By 

Dennis Chang (Seal Beach, CA United States) - See all my reviews
(REAL NAME)   

This review is from: The Investor's Quotient: The Psychology of Successful Investing in Commodities & Stocks (Paperback)

Wow--I am truly impressed with the quality and content of this book! Fortunately, the short profile quiz in the book identified me as a trader who already has strong self-discipline and a good working understanding of trading psychology and as someone who might not need to read further chapters, but I was still able to pick up pointers and solutions to the remaining problems that plague me (getting out of a position too soon, or getting out too late--both problems falling in a class called "non-specific fear or greed"). Friends of mine who have weaker self-discipline clearly exhibit many of the psychological problems that Bernstein describes as common amongst traders, especially a strong aversion to using stops for money management/loss control. I find many of his repair techniques to be similar to those used in neuro-linguistic programming (NLP) to treat other behavioral/psychological problems, and I appreciate his respect for many different trading styles and systems; unlike many other writers, who say that their system is the ONLY system or ONLY way to consistently profit, Bernstein stresses that ANY trading system/methodology or lack thereof will work so long as the trader has the psychology and discipline to execute it. Bernstein of course advances his own trading rules, some of which I don't agree with but which are not wrong--just not my style. Whatever *your* trading style, I'm sure you'll benefit from learning how to better implement it, so read this book! Needless to say, this is one of the few books that I've decided shall have a permanent place on my trading library shelf. It is at once detailed and scientific in content, yet easy to read and understand and will be re-read in times of trading weakness.

10 of 10 people found the following review helpful:

5.0 out of 5 stars It is the Trader and not the System that brings Success, December 28, 2000

By A Customer

This review is from: The Investor's Quotient: The Psychology of Successful Investing in Commodities & Stocks (Paperback)

These are Mr. Bernstein's words and I echo them. After attempting to analyze repeatedly what was "wrong" with my system, I finally asked the winning question: maybe I should find out what was going on with me that put me on the wrong side of the trade. I purposely bought this book one evening and spent the nite reading it. Sleep well worth losing. I finally figured out my particular method of self-sabotage and have begun to see changes in my handling of trades and of people and situations. Mr. Bernstein's wisdom and experience is an invaluable resource that everyone who wants to achieve success or increase his rate of return, should read and act on.

7 of 7 people found the following review helpful:

5.0 out of 5 stars A must read for any trader, June 10, 2000

By A Customer

This review is from: The Investor's Quotient: The Psychology of Successful Investing in Commodities & Stocks (Paperback)

Prior to reading IQ, I was a futures trader that had met with moderate success. My technical analysis and systems were sound. I knew my trading systems inside and out. I knew their strengths, weaknesses and rules, but their real time application was just not measuring up to my models. The difference was me -- my trading psychology. This book completed the circle for me as it showed me that real success in trading depends on the individual and not so much on any one trading system.