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“In The Inner Voice of Trading, Michael Martin recounts his own quest to become a successful trader, illuminating his journey with engaging trading episodes. Join Martin at his trading desk as he provides important insights into the art and science of balancing thoughts and feelings—and catching the big one.”
“Some people trade and either don’t or can’t teach; some people teach and have never traded; Michael Martin can teach extremely well and is an experienced trader. This rare combo is a necessity to those who want to succeed in the markets. Read and learn!”
—Victor Sperandeo, Founder, Alpha Financial Technologies, LLC
“The Inner Voice of Trading provides insights that may help both discretionary and systematic traders adhere to their extensively researched and tested trading programs and be better insulated from their occasional emotional (fear, greed, pride, and so on) temptations to deviate into uncharted waters.”
—Bill Dunn, DUNN Capital Management
“Michael Martin provides a toolbox to fortify the most important aspect of successful trading: the six inches between your ears. With fresh insights from many of the market’s greatest traders, The Inner Voice of Trading will put you on the path to improving your profits and losses.”
—John Del Vecchio, Portfolio Manager, AdvisorShares Active Bear ETF
“Too many new and developing traders move from strategy to strategy in the hope of improving their under performance. In The Inner Voice of Trading, Michael Martin helps us understand how we first must work on ourselves before we can become the trader we want to be. Find a place in your trading library for this latest gift to the trading community.”
—Mike Bellafiore, Partner, SMB Capital, and Author of One Good Trade
Trading is 20% intellectual and 80% psychological. Success begins with the ancient Greek adage: know thyself. Rote, mechanical trading models set you up for failure. To succeed, you must harmonize your trading systems with your emotions. By doing so, you can achieve the inner calm and confidence that translates directly into better decisions—and higher profits.
This book will help you find your inner voice as a trader, so you can act on what your analysis systems tell you and crisply execute winning strategies without hesitation.
Michael Martin examines your most common trading decisions from an emotional standpoint, helping you “feel the feelings” driving your actions—feelings that often have nothing to do with money. Through compelling interviews, you’ll discover how legendary traders, such as Ed Seykota and Michael Marcus, integrate reason and emotion to make better trades every day—and how you can do it, too.
• Traders are humans first
How your trades reflect the human propensity to pursue pleasure and avoid pain
• Choosing strategies you can sustain over time
How to find trading approaches you can tolerate—and consistently execute
• Letting go: You don’t need to be right all the time
Stop seeking validation from your trades—that’s not what they’re for
• Reducing your losses through self-discipline and surrender
How emotionally aware traders improve performance by keeping their losses small
Michael Martin has been a successful trader for over 20 years. He’s been teaching for the last 13 of those years through UCLA Extension and the New York Society of Security Analysts (NYSSA), a member society of the CFA Institute. During that time, he also served as Associate Editor at Trader Monthly. He was born and raised in New York and now lives in Los Angeles.
He contributes to The Huffington Post, The Business Insider, and his blog MartinKronicle.com. He has also been published in Barron’s.
His interest in trading commodities began as a student, both in the classroom and at work. It was during a random work-study program that he got introduced to creating seasonal models for Heating Oil and Natural Gas for a large hedger using Lotus 123.
That led to working on Wall Street and trading commodity accounts. The commissions were gigantic, but he figured he could earn several times more by earning an incentive fee. After only 3 years at a brokerage firm, he started his own company.
After moving to Los Angeles from Manhattan, he started his own CTA and also began teaching. Around that time he joined the Incline Village Trading Tribe and flew from Los Angeles to Lake Tahoe for meetings. He also formed the Trading Tribe in Los Angeles, for which he was Chief. Coincidence or not, he was ranked #1 by AutumnGold around that time.
His trading courses are available online and can be found at MartinKronicle.com.
His Trading Tribe is still too much with him, even though he lauds independence. A lot of truth mixed with too much personal opinion. Mildly useful though.Published 14 months ago by Trading Truth Seeker
You can find few gems in this book, some sentences that let you look at your trading from different angels and rethink some aspects. Read morePublished 20 months ago by mad_bobul
How can a book with so nice reviews be a garbage? Looks like the review process is rigged. I have read many trading books in past 10 years, some are excellent, some are good, but... Read morePublished 20 months ago by R. Sabat
I appreciated the author's honesty regarding his own emotional shortcomings. He makes a clear case for the life of the trader being mainly about managing their own emotional makeup... Read morePublished 23 months ago by Ian Aston
Excellent and very true. A rare trading book that focuses on the emotional aspects as much as the trading systems.Published on September 25, 2013 by T. Rodgers
Most expert traders acknowledge that they made mistakes and learned from them. The most valuable lesson they learned is to keep their ego in check by cutting losses and accepting... Read morePublished on September 22, 2013 by Ba-Sttouf
This wasnt a bad read at all although I thought some ideas expressed in the book lacked additionnal clarity. Read morePublished on May 6, 2013 by axl2505
The title of this review paraphrases my favorite quote from this book. The author does not promise to shorten the time it may take you to develop self-awareness; just that you do... Read morePublished on April 30, 2013 by Alan Lattanner