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Behavior is patterned. Beginning with this premise, noted clinical psychologist and active trader Dr. Brett Steenbarger opens the therapists door, demonstrating how traders can identify, interrupt, and change the problem patterns that interfere with successful trading. In The Psychology of Trading, Dr. Steenbarger draws upon real-life case studies and offers hands-on techniques for emotional change to assist traders in becoming their own therapists. Themes that set The Psychology of Trading apart include:
In an engaging manner that provides practical solutions to real trading problems, Dr. Steenbarger walks you through the most common cognitive and emotional tendencies that distort efforts at identifying and trading market patterns. He then describes specific skills derived from years of brief therapy practice to help you become an effective observer of these tendencies and gain control over them. By blending state-of-the-art research from psychology and cognitive neuroscience with detailed case studies, The Psychology of Trading provides you with the intellectual and emotional ammunition to face yourself and transform your approach to risk and reward.
"The one, only, and by far the best book synthesizing psychology and investing. In addition to providing modern, scientific knowledge about psychology, this book provides a mirror into the mind and wide breadth of knowledge of one of the leading practitioners of brief and effectual cures. Will help to cure your trading and your life."
Victor Niederhoffer, Chief Speculator, Manchester Investments
Author, The Education of a Speculator and Practical Speculation
"How refreshing! A book that rises above the old NLP model of the 80s and provides insights on how our relationship with the market is indeed a very personal one. Not only has Steenbarger provided some fantastic tools for the trader to transform his mindset, but he has contributed unique trading ideas as well. Brilliant!"
Linda Raschke, President, LBRGroup, Inc.
"Investigate, before you invest was for many years the slogan of the New York Stock Exchange. I always thought a better one would be, Investigate YOURSELF, before you invest. The Psychology of Trading should help you increase your annual investment rate of return. Mandatory reading for anyone intending to earn a livelihood through trading. "
Yale Hirsch, The Hirsch Organization Inc., Editor, The Stock Traders Almanac
"This highly readable, highly educational, and highly entertaining book will teach you as much about yourself as about trading. Its Oliver Sacks meets Mr. Marketextraordinary tales of ordinary professionals and individuals with investment disorders, and how they successfully overcame them. It is a must-read both for private investors who have been shell-shocked in the bear market and want to learn how to start again, as well as for pros who seek an extra edge from extra inner knowledge. Steenbargers personal voyage into the mind of the market is destined to become a classic."
Jon Markman, Managing Editor, CNBC on MSN Money
Author, Online Investing and Swing Trading
"Dr. Steenbargers fascinating, highly readable blend of practical insights from his dual careers as a brilliant psychologist and trader will benefit every investor; knowing oneself is as important as knowing the market."
Laurel Kenner, CNBC.com Columnist, Author, Practical Speculation
I found this book very well written and very insightful. But it may not be for everyone. There may be some experiential prerequisites necessary. Read morePublished 5 months ago by Tovel Young
It is very long, with unrelated stories, and quite boring. Made me thinking why I paid so much.Published 8 months ago by Amazon Customer
Of course this book is very useful and contains a lot of fresh and right ideas. I would recommend this book to everybody, but advice not to blindly believe everything you will read... Read morePublished 15 months ago by Tim Martynov
Whether the market one trades, this is definitely a mind opener to what you need, next to Mark Douglas these two novels top the psychology reads for traders.Published 16 months ago by ryan mann
I can understand why some people are not thrilled with the content of the book as it seemed off topic most of the time. Nevertheless, it was helpful and an interesting read. Read morePublished 21 months ago by Herb Hunter
I hate this book because it is not written for traders or people want to know more about psychology of trading, a lot of the examples in the book has nothing to do with trader's... Read morePublished on August 29, 2013 by Richard Tso
My son has read it twice, we agree that every trader should read it. close second to "Trading in the Zone", I think that is the name of itPublished on August 25, 2013 by D. Duvos
There are a lot of books these days about trading and trading psychology. It's great to have so much selection but it's getting harder to make a choice about which one's to read. Read morePublished on July 8, 2013 by Robert